India Lead Acid Battery Market to Surpass $7 Billion by 2022
Growing automobile industry,
continuous expansion of telecommunication infrastructure and booming IT
industry to drive India lead acid battery market through 2022
According to a recently published TechSci Research report, “India
Lead Acid Battery Market By Type, By Application, Competition
Forecast & Opportunities, 2012 – 2022”, the market for lead acid
battery in India is projected to cross $7 billion by 2022, fueled by growing automobile
industry. Launch of ‘Automotive Mission Plan, 2016-2026’ is anticipated to
augment the automobile production in the country in the coming years, which is
expected to drive demand for lead acid batteries through 2022. In India, the two-wheeler
production is anticipated to increase from 19 million in 2016 to 50 million by
2026. Moreover, increasing foreign direct investments are expected to boost the
country’s automobile industry in coming years, thereby aiding India
lead acid battery market during forecast period.
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26 Figures spread through 116 Pages and an in-depth TOC on "India
Lead Acid Battery Market"
https://www.techsciresearch.com/report/india-lead-acid-battery-market-by-type-sli-stationary-motive-by-application-automotive-telecommunication-ups-electric-vehicles-others-competition-forecast-opportunities/1087.html
In a bid to
promote the growth of clean energy sources, India has been investing heavily on
the development of solar power projects. Under the National Solar Mission, the
country aims to install 100GW of solar power projects by the end of 2022. In
states such as Rajasthan, Gujarat, Andhra Pradesh, etc., huge investments are
being made by public as well as private entities for setting-up solar power
plants. The electricity generated by solar power plants needs to be stored
before it is evacuated to power transmission lines. Lead acid batteries are
used in solar power plants to store the electricity generated from these
plants. The expansion of solar power capacity is expected to boost the demand
for lead acid batteries in India during forecast period.
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Telecom industry is another
major factor expected to aid India lead acid battery market during forecast
period. Over the past few years, the telecom sector has experienced a major
transformation. Growing penetration of internet in the country has transformed
the voice-driven sector to data-driven sector. Introduction of 4G network has
motivated telecom companies to expand their network of telecommunication towers
across the country. As of FY16, the total base
of telecom towers in the country was around 454,000 towers, and it is projected
to reach 511,000 towers by 2020. Telecom towers are one of the largest users of
lead acid batteries in India. Continuous expansion of telecommunication
infrastructure in India is expected to aid the country’s lead acid battery
market during forecast period.
“SLI lead acid
battery dominated India lead acid battery market in 2016, and the segment is
expected to maintain its dominance over the next five years as well. SLI lead acid batteries are primarily used in automobiles
such as passenger vehicles, commercial vehicles, tractors, two-wheelers, etc.
Some of the major players operating in India lead acid battery market are Exide
Industries, Amara Raja Industries, Luminous Power Technologies Pvt. Ltd., HBL
Power Systems Ltd., Okaya Power Pvt. Ltd., etc.” Said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Lead Acid Battery
Market By Type, By Application, Competition Forecast &
Opportunities, 2012 – 2022”
has evaluated the future
growth potential of India lead acid battery market, and provided statistics and
information on market structure, industry behaviour and trend. The report
includes market projections and demand forecasting. The report is intended to
provide cutting-edge market intelligence and help decision makers to take sound
investment evaluation. Besides, the report also identifies and analyses
emerging trends along with essential drivers, challenges and opportunities
available in India lead acid battery market.
About TechSci Research
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