Oil & gas production and export are the major contributors to the economic growth of Middle Eastern countries. The impact of COVID-19 pandemic on most regions in the world has led to drop in oil demand. As a result, numerous oil production stations in the Middle East were shut down or reduced their production levels. On the other hand, these countries are thriving to diversify their economies. The COVID-19 pandemic has disturbed the economic progress in many of these countries. Energy, aviation, food & beverages, chemicals, retail and e-commerce, and travel and tourism are among the major non-oil industries in the Middle East that have experienced severe effects of the pandemic. Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait are among the countries that have witnessed the ill effects of the outbreak. The region registered a slight decline in raw material supply from various manufacturers across North America, Europe, and Asia Pacific in 2020, as these regions suspended their production and trade activities. The economy regained its pace in 2021 after the resumption of demand- and supply-sides operations.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 248.20 Million |
| Market Size by 2028 | US$ 367.21 Million |
| CAGR (2021 - 2028) | 5.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa Forklift Battery Market is valued at US$ 248.20 Million in 2021, it is projected to reach US$ 367.21 Million by 2028.
As per our report Middle East and Africa Forklift Battery Market, the market size is valued at US$ 248.20 Million in 2021, projecting it to reach US$ 367.21 Million by 2028. This translates to a CAGR of approximately 5.8% during the forecast period.
The Middle East and Africa Forklift Battery Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Forklift Battery Market report:
The Middle East and Africa Forklift Battery Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Forklift Battery Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Forklift Battery Market value chain can benefit from the information contained in a comprehensive market report.
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