Reference price of professional lithium battery pack in the Middle East

The electric vehicle market, the primary driver for lithium-ion batteries, grew more slowly than in previous years but still showed the lowest price at $97 per kWh. Meanwhile, the stationary storage market has surged, with intense competition among cell and system suppliers, particularly in China.

Meanwhile, the stationary storage market has surged, with intense competition among cell and system suppliers, particularly in China. Regionally, the average prices of lithium battery packs were lower in China, at $94 per kWh, while prices in the U.S. and Europe were 31% and 48% higher, respectively.

The market for Lithium in Middle-East and Africa is expected to grow at a CAGR of over 10% during the forecast period. Major factors driving the market studied are accelerating demand for electric vehicles and growing usage and demand from the portable consumer elctronics.

In 2024, the average global prices of lithium-ion batteries dropped by 20%, reaching $115 per kWh. For electric vehicle batteries, the price fell below $100 per kWh Why Are Lithium Battery Prices Falling?

By application, battery segment is expected to account for the largest share owing to increasing usage of lithium for the production of lithium batteries. By Country, Saudi Arabia is expected to dominate the market during the forecast period. The Middle-East and Africa Lithium market report includes:

The Middle-East and Africa Lithium market is consolidated, with the top five players accounting for major share of the market. The key players in the market include, Albemarle Corporation, SQM S.A., Tianqi Lithium, Orocobre Limited Pty Ltd, and FMC Corporation.