Kenya: Lithium Battery Market 2024

Lithium Battery Market Size in Kenya

The Kenyan lithium battery market stood at $X in 2021, surging by 2.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw strong growth. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Lithium Battery Exports

Exports from Kenya

In 2021, the amount of lithium cells ans batteries exported from Kenya declined significantly to X kg, dropping by -22.1% compared with 2020. Overall, exports, however, showed pronounced growth. The growth pace was the most rapid in 2013 with an increase of 641% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, lithium battery exports shrank significantly to $X in 2021. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 968% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X kg) was the main destination for lithium battery exports from Kenya, with a 70% share of total exports. Moreover, lithium battery exports to Singapore exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X kg), fivefold. Ghana (X kg) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore totaled +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+33.4% per year) and Ghana (+24.1% per year).

In value terms, Singapore ($X) remains the key foreign market for lithium cells ans batteries exports from Kenya, comprising 54% of total exports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with an 11% share of total exports. It was followed by Ghana, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore amounted to +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+8.9% per year) and Ghana (+5.4% per year).

Export Prices by Country

In 2021, the average lithium battery export price amounted to $X per ton, with a decrease of -26.6% against the previous year. Overall, the export price saw a pronounced slump. The growth pace was the most rapid in 2018 when the average export price increased by 63% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Rwanda ($X per ton), while the average price for exports to Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (+7.9%), while the prices for the other major destinations experienced mixed trend patterns.

Lithium Battery Imports

Imports into Kenya

In 2021, supplies from abroad of lithium cells ans batteries increased by 10% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports saw buoyant growth. The growth pace was the most rapid in 2013 when imports increased by 1,542%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, lithium battery imports fell modestly to $X in 2021. Overall, imports saw resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 1,362%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of lithium battery to Kenya, accounting for a 56% share of total imports. Moreover, lithium battery imports from China exceeded the figures recorded by the second-largest supplier, Egypt (X tons), fivefold. The third position in this ranking was taken by the United States (X tons), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +54.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-12.2% per year) and the United States (+21.0% per year).

In value terms, China ($X), the United States ($X) and Egypt ($X) constituted the largest lithium battery suppliers to Kenya, with a combined 74% share of total imports.

China, with a CAGR of +32.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average lithium battery import price amounted to $X per ton, shrinking by -12.3% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 55%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+15.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform