Expansion Foreseen in South Africa Battery Market Driven by Rising Electronic Device and EV Demand
South Africa Battery Market is expected to grow due to increasing demand for electronic equipment and electric vehicles throughout the forecast period. According to TechSci Research report, “ South Africa Battery Market - By Region, Competition Forecast & Opportunities, 2018-2028F”, the South Africa battery market is expected to register 7.58% CAGR during the forecast period, 2024-2028, owing to the recent regulatory amendments in South Africa towards renewable energy sources, along with current energy crisis. Numerous energy storage projects are planned with the collaboration of both state-owned and private organisations since the South African government is keen to increase the nation's sources of power generation and energy security. In June 2021, a government tender in South Africa awarded 540 MW of solar projects with 225 MW/ 1,140 MWh of battery storage to Scatec, an energy business with its headquarters in Norway. The company's involvement in the initia...