India Lead Acid Battery Market By Product Type (SLI, Stationary, and Motive), By Construction Method (Flooded, VLRA), By Technology (Basic, Advanced Lead Acid), By Application (Transportation, Industrial, Commercial, Residential, and Others), By Region, Competition, Forecast and Opportunities, 2019-2029

  • Industry : Power
  • Pages : 133
  • Published Date : September, 2023
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Summary

Report Description

India lead Acid Battery Market was valued at USD 4,495.40 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.80% owing to rising demand in the telecom industry, growing demand from the data center, rapidly rising automobile industry, etc.

A lеad-acid battеry is a type of rеchargеablе battеry that usе a chеmical rеaction bеtwееn lеad platеs and sulfuric acid to storе and rеlеasе еlеctrical еnеrgy. It is one of thе oldеst and most commonly usеd battеry tеchnologiеs. Lеad-acid battеriеs arе known for thеir rеlativеly low cost, robustnеss, ability to dеlivеr high surgе currеnts, and making thеm suitablе for a widе rangе of applications. Thеy rеquirе pеriodic maintеnancе, such as chеcking еlеctrolytе lеvеls and еnsuring propеr charging to avoid sulfation and loss of capacity.

Growing Residential and Commercial Sector

The residential and commercial sector in the countries has witnessed significant growth in recent years. According to IBEF, The real estate market is expected to reach USD 1 trillion in the year, 2030. As these sectors expand, there is a significant need for reliable and efficient power backup solutions, making lead-acid batteries a preferred option. In the residential sector, the increasing urbanization and rising disposable income levels have resulted in the construction of more residential complexes, apartments, and individual houses. With the unreliable power infrastructure, in many parts of the country, power outages, and fluctuations are common occurrences. As a result, homeowners and residents are turning to lead-acid batteries to provide backup power during such scenarios. These batteries can be integrated with inverters to ensure a continuous power supply, ensuring comfort, safety, and smooth operation of essential appliances. With the Indian government's focus on promoting clean energy and incentivizing renewable energy installations. The versatility and cost-effectiveness of lead-acid batteries make them a perfect option for both residential and commercial consumers leading to the growth of India lead acid battery market.

Rising Middle-class Population Enhance the Battery Market

India's middle-class population is expanding and is anticipated to grow in the upcoming years. The National Council of Applied Economic Research estimates that by 2025, India's middle-class population would have grown from around 47 million in 2010 to over 200 million. The demand for the lead acid battery is being driven by the growth of the middle-class population as the sales of two-wheelers and four-wheelers in Indian market rises. Additionally, according to the National Electricity Plan 2022-32, the power generation industry in India require approximately USD 400 billion to meet the rising demands of electricity and overcome integration challenges across the country. To fulfil the demands of the expanding middle-class population, the government and private developers are placing major focus on offering continuous power supply without any interruption. Overall, the expanding middle-class population in India is boosting the demand for lead acid battery in the upcoming years.

Rapid Rise in Automobile Industry

In the lead acid battery market, the automobile sector played a vital role in the development of the nation and focused on becoming the 5th largest economy in the world. Additionally, between April 2000-September 2022., India Brand Equity Foundation states that the nation has achieved a foreign direct investment of USD 33.77 billion in the automobile sector. The total production of passenger vehicles in India was 1.56 million units which is a high growth rate as compared to past years. In the last 10 years, rapidly rising demand for lead acid battery made a positive impact on the lead acid battery market across the country. Also, the automobile industry has launched four-wheeler vehicle which uses lead-acid batteries for power instead of fuels i.e. petrol, diesel, and CNG.

Furthermore, various investments and initiatives in the automobile sectors, for instance,

·         In December 2022, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles was 1,557,238 units.

·         In February 2023, Nissan and Renault planned to invest around USD 600 million in India over the next 3-5 years to expand their market share in passenger cars and electric vehicles across the country.

·         In April 2022, Tata Motors announced plans to invest USD 3.08 billion in its passenger vehicle business over the next five years.

·       In March 2022, Hyundai planned to invest USD 79.2 billion through 2030, and the company has majorly focused on electric vehicle manufacturing across the country.

Therefore, the above-mentioned factors are likely to propel the market for lead acid batteries in the forecast period.

High Demand from Telecom Industry

India lead acid battery market anticipates a significant growth in the coming years, primarily driven by the high demand in the telecom. Lead acid batteries play a critical role in providing power backup to telecom towers during grid failures or power outages, ensuring uninterrupted connectivity. With a massive increase in the number of mobile phone users and the expansion of network infrastructure, more people have gained access to affordable smartphones and data services and hence, the demand for reliable and uninterrupted communication has skyrocketed. Moreover, with the government's emphasis on expanding connectivity to rural areas, the need for reliable power backup solutions becomes more crucial, further driving the demand for lead-acid batteries.

Challenges: Competition from other Battery Technologies

Competition from other battery technologies sets a substantial challenge for the lead acid battery market in India. Lead acid batteries are the most preferred option in various applications due to their low cost, durability, and reliability. However, advancements in alternative battery technologies, such as lithium-ion batteries, pose a threat to the market share of lead acid batteries. Lithium-ion batteries have gained recognition in recent years due to their higher energy density, lighter weight, and longer duration compared to lead acid batteries. The lead acid battery market in India faces a formidable challenge from competing battery technologies, particularly from lithium-ion batteries. The advantages offered by lithium-ion batteries in terms of energy density, weight, lifespan, and performance make them increasingly preferred in applications such as EVs and renewable energy storage systems. To sustain their market share, lead acid battery manufacturers need to focus on innovation and continuous improvement to address the evolving needs and demands of consumers and industries.

Recent Developments & Investments:

  • Budget 2023 – the union government focus on the market for affordable housing to boost the infrastructure sector as the demand for continuous electricity is expected to rise, across the country. It is directly impacting on the market of batteries in the forecast period. The Pradhan Mantri Awas Yojana (PMAY) budget was increased by 66% from last year. 
  • In February 2022, memorandum of understanding (MoU) was signed between Ather Energy and Electric Supply Companies (ESCOMs) of Karnataka for the installation of 1,000 fast charging stations across the state, which directly enhance the demand for lead acid batteries across the country.
  • In January 2022, Kinetic Green Energy in collaboration with Chinese EV major Aima Technology Group, planned to invest around USD 10-13 million in a two-wheeler EV project.
  • Two-wheeler EV maker HOP electric mobility, a diversified business venture of Rays Power Infra, invested around USD 13.24 million over the next two years to expand manufacturing capacity for electric vehicles across the nation. Therefore, the market for lead acid battery is anticipated to boost during the upcoming years.


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Market Segmentation

The India lead acid battery market is segmented based on product type, construction method, technology, application, and region. Based on product type, the market is segmented into SLI, stationary, and motive. Based on construction method, the market is segmented into flooded and VLRA. Based on technology, the market is segmented into basic and advanced lead acid. Based on application, the market is segmented into transportation, industrial, commercial, residential, and others. Additionally, India lead acid battery market analysis studies the regional segmentation to devise regional market segmentation, divided among north India, south India, west India, and east India.

Company Profiles

Exide Industries Limited, Amara Raja Batteries Limited, Luminous Power Technologies Pvt. Ltd, Okaya Power Private Limited, HBL Power Systems Limited, Jayachandran Industries Private Limited, Leoch Batteries India Pvt Ltd, Livguard energy technologies Pvt Ltd, Tata AutoComp GY Batteries Private Limited, and Microtex Energy Private Limited are the major players, driving the growth of the India lead acid battery market.

Attribute

Details

Market Size Value in 2023

4,495.40 million

Revenue Forecast in 2029

6,566.00 million

Growth Rate

6.80%

Base Year

2023

Historical Years

2019 – 2022

Estimated Year

2024

Forecast Period

2025 – 2029

Quantitative Units

Revenue in USD Billion and CAGR for 2019-2023 and 2024E-2029F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Product Type

Construction Method

Technology

Application

Region

Regional Scope

North India, South India, West India, and East India.

Key Companies Profiled

Exide Industries Limited, Amara Raja Batteries Limited, Luminous Power Technologies Pvt. Ltd, Okaya Power Private Limited, HBL Power Systems Limited, Jayachandran Industries Private Limited, Leoch Batteries India Pvt Ltd, Livguard energy technologies Pvt Ltd, Tata AutoComp GY Batteries Private Limited, Microtex Energy Private Limited

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, the India lead acid battery market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • India Lead Acid Battery Market, By Product Type:
    • SLI
    • Stationary
    • Motive
  • India Lead Acid Battery Market, By Construction Method:
    • Flooded
    • VLRA
  • India Lead Acid Battery Market, By Technology:
    • Basic
    • Advanced Lead Acid
  • India Lead Acid Battery Market, By Application:
    • Transportation
    • Industrial
    • Commercial
    • Residential
    • Others
  • India Lead Acid Battery Market, By Population:
    • Slum Population,
    • Non-Slum Population
  • India Lead Acid Battery Market, By Region:
    • North India
    • South India
    • West India
    • East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India lead acid battery market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.          Markets Covered

1.2.2.          Years Considered for Study

1.2.3.          Key Market Segmentations

1.3.  Product Definition

1.3.1.          By Product Type

1.3.2.          By Construction Method

1.3.3.          By Technology

1.3.4.          By Region

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.2.1.          Methodology Followed for Calculation of Market Size

2.2.2.          Methodology Followed for Calculation of Market Share

2.2.3.          Methodology Followed for Forecasting

2.3.  Partial List of Companies Interviewed

2.4.  Partial List of Secondary Sources

3.    Executive Summary

4.    Impact of Covid-19 on India Lead Acid Battery Market

5.    Voice of Customer

5.1.  Brand Awareness

5.2.  Key Factors Considered while Purchasing Lead Acid Battery

5.3.  Key Satisfaction Level

6.    India Lead Acid Battery Market Outlook

6.1.  Market Size & Forecast

6.1.1.          Market Size & Forecast

6.2.  Market Share & Forecast

6.2.1.          By Product Type (SLI, Stationary, Motive)

6.2.2.          By Construction Method (Flooded, VLRA)

6.2.3.          By Technology (Basic, Advanced Lead Acid)

6.2.4.          By Application (Transportation, Industrial, Commercial, Residential, Others)

6.2.5.          By Region (North India, South India, West India, East India)

6.3.  By Company (2023)

6.4.  Product Market Map (By Product Type, By Construction Method, By Technology, By Application, By Region)

7.    India SLI Lead Acid Battery Market Outlook

7.1.  Market Size & Forecast

7.1.1.          By Value

7.2.  Market Share & Forecast

7.2.1.          By Construction Method

7.2.2.          By Technology

7.2.3.          By Application

8.    India Stationary Lead Acid Battery Market Outlook

8.1.  Market Size & Forecast

8.1.1.          By Value

8.2.  Market Share & Forecast

8.2.1.          By Construction Method

8.2.2.          By Technology

8.2.3.          By Application

9.    India Motive Lead Acid Battery Market Outlook

9.1.  Market Size & Forecast

9.1.1.          By Value

9.2.  Market Share & Forecast

9.2.1.          By Construction Method

9.2.2.          By Technology

9.2.3.          By Application

10. Market Dynamics

10.1.             Drivers

10.2.             Challenges

11. Market Trends and Developments

12. Policy and Regulatory Landscape

13. India Economic Profile

14. Company Profiles

14.1.             Exide Industries Limited

14.1.1.        Business Overview

14.1.2.        Key Financials & Revenue

14.1.3.        Key Personnel/Contact Person

14.1.4.        Headquarters Address

14.1.5.        Key Products/Product Offerings

14.2.             Amara Raja Batteries Limited

14.2.1.        Business Overview

14.2.2.        Key Financials & Revenue

14.2.3.        Key Personnel/Contact Person

14.2.4.        Headquarters Address

14.2.5.        Key Products/Product Offerings

14.3.             Luminous Power Technologies Pvt. Ltd.

14.3.1.        Business Overview

14.3.2.        Key Financials & Revenue

14.3.3.        Key Personnel/Contact Person

14.3.4.        Headquarters Address

14.3.5.        Key Products/Product Offerings

14.4.             Okaya Power Private Limited

14.4.1.        Business Overview

14.4.2.        Key Financials & Revenue

14.4.3.        Key Personnel/Contact Person

14.4.4.        Headquarters Address

14.4.5.        Key Products/Product Offerings

14.5.             HBL Power Systems Limited

14.5.1.        Business Overview

14.5.2.        Key Financials & Revenue

14.5.3.        Key Personnel/Contact Person

14.5.4.        Headquarters Address

14.5.5.        Key Products/Product Offerings

14.6.             Jayachandran Industries Private Limited

14.6.1.        Business Overview

14.6.2.        Key Financials & Revenue

14.6.3.        Key Personnel/Contact Person

14.6.4.        Headquarters Address

14.6.5.        Key Products/Product Offerings

14.7.             Leoch Batteries India Pvt Ltd

14.7.1.        Business Overview

14.7.2.        Key Financials & Revenue

14.7.3.        Key Personnel/Contact Person

14.7.4.        Headquarters Address

14.7.5.        Key Products/Product Offerings

14.8.             Livguard energy technologies Pvt Ltd

14.8.1.        Business Overview

14.8.2.        Key Financials & Revenue

14.8.3.        Key Personnel/Contact Person

14.8.4.        Headquarters Address

14.8.5.        Key Products/Product Offerings

14.9.             Tata AutoComp GY Batteries Private Limited

14.9.1.        Business Overview

14.9.2.        Key Financials & Revenue

14.9.3.        Key Personnel/Contact Person

14.9.4.        Headquarters Address

14.9.5.        Key Products/Product Offerings

14.10.          Microtex Energy Private Limited

14.10.1.     Business Overview

14.10.2.     Key Financials & Revenue

14.10.3.     Key Personnel/Contact Person

14.10.4.     Headquarters Address

14.10.5.     Key Products/Product Offerings

15. Strategic Recommendations

16. About Us & Disclaimer

The data given for any year represents the market during the period, i.e., 1st April of the former year to 31st March of the latter year. Eg: For FY2023E, the data represents the period, from 1st April 2022 to 31st March 2023.

Figures and Tables

List of Figures:

Figure 1: India Lead Acid Battery Market Size, By Value (USD Million), 2019-2029F

Figure 2: India Lead Acid Battery Market Share, By Product Type, By Value, 2019-2029F

Figure 3: India Lead Acid Battery Market Share, By Construction Method, By Value, 2019-2029F

Figure 4: India Lead Acid Battery Market Share, By Technology, By Value, 2019-2029F

Figure 5: India Lead Acid Battery Market Share, By Application, By Value, 2019-2029F

Figure 6: India Lead Acid Battery Market Share, By Region, By Value, 2019-2029F

Figure 7: India Lead Acid Battery Market Share, By Company, By Value, 2023

Figure 8: India Lead Acid Battery Market Map, By Product Type, Market Size (USD Million) & Growth Rate (%), 2023

Figure 9: India Lead Acid Battery Market Map, By Construction Method, Market Size (USD Million) & Growth Rate (%), 2023

Figure 10: India Lead Acid Battery Market Map, By Technology, Market Size (USD Million) & Growth Rate (%), 2023

Figure 11: India Lead Acid Battery Market Map, By Application, Market Size (USD Million) & Growth Rate (%), 2023

Figure 12: India Lead Acid Battery Market Map, By Region, Market Size (USD Million) & Growth Rate (%), 2023

Figure 13: India SLI Lead Acid Battery Market Size, By Value (USD Million), 2019-2029F

Figure 14: India SLI Lead Acid Battery Market Share, By Construction Method, By Value, 2019-2029F

Figure 15: India SLI Lead Acid Battery Market Share, By Technology, By Value, 2019-2029F

Figure 16: India SLI Lead Acid Battery Market Share, By Application, By Value, 2019-2029F

Figure 17: India Stationary Lead Acid Battery Market Size, By Value (USD Million), 2019-2029F

Figure 18: India Stationary Lead Acid Battery Market Share, By Construction Method, By Value, 2019-2029F

Figure 19: India Stationary Lead Acid Battery Market Share, By Technology, By Value, 2019-2029F

Figure 20: India Stationary Lead Acid Battery Market Share, By Application, By Value, 2019-2029F

Figure 21: India Motive Lead Acid Battery Market Size, By Value (USD Million), 2019-2029F

Figure 22: India Motive Lead Acid Battery Market Share, By Construction Method, By Value, 2019-2029F

Figure 23: India Motive Lead Acid Battery Market Share, By Technology, By Value, 2019-2029F

Figure 24:  India Motive Lead Acid Battery Market Share, By Application, By Value, 2019-2029F

Frequently asked questions

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The market size of the India lead battery acid market was estimated to be USD 4,495.40 million in 2023.

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The India lead acid battery market is currently valued at USD 2,277.54 million with a market share of 50.66% in transportation application segment in 2023. It is projected to reach USD 3,195.76 million by the end of 2029, exhibiting a CAGR of 6.08% in terms of value, during the period of 2024 to 2029. Moreover, the transportation application is expected to maintain its market dominance in the forecast year with a market share of 48.67% in the India lead acid battery market by 2029. Engaging with government authorities and policymakers to promote favorable policies and incentives for the adoption of electric vehicles and related infrastructure. Advocating for subsidies, tax benefits, and support schemes specifically for lead-acid batteries can incentivize consumers and businesses to choose products over other battery technologies.

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Sealed lead-acid batteries lCompetition from other battery technologies and import dependency are the major challenges of the India lead acid battery market.ast from 3-5 years to 12 years or more, depending on the battery manufacturing process.

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Rising demand from the automobile industry and rising demand for continuous electricity are the major driver of the India lead battery acid market.

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Parvati Sharma

Account Manager BD
Press Release

India Lead Acid Battery Market to Grow at a CAGR of 6.80% During the Forecast Period, 2025-2029

Sep, 2023

Rising demand for continuous power supply from various sectors including datacenter, telecom, automobile, and others are driving the India lead acid battery market, across the country.

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