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India Automotive Lead Acid Battery market has grown with a CAGR of more than 10% in the review period of FY 2022-23 to FY 2027-28. The period has witnessed the growth of replacement lead acid battery market and the consumers will be shifting from unorganized players to organized player for replacement battery market. The major reason for so is the high economic development of India which has resulted in higher purchasing power to Indian consumer, organized player like Exide is coming up with low price product to give competition to unorganized products. The replacement lead acid battery market is dominating the lead acid battery market with more than 70% market share. The duology of Exide Industries Limited and Amara Raja Batteries Limited, together share market share of more than 50% of total automotive lead acid battery market.
Automotive industry expansion, growing research and technological advancement in the electrical vehicles further aid the growth of the India battery market in the upcoming five years. India has one of the largest automobile markets in the world. Rising population of the country and growing demands for the ownership of the vehicles is also expected to add the growth of the India battery market.
Lead acid batteries are predominantly used as a SLI battery in automobiles. The growing automotive production and sales and increasing vehicle parc are directly impacting the market. Lead acid batteries are economical as compared to other batteries and provide optimal solution to end users.
The automotive lead acid battery market had faced various challenges from concerns pertaining to gassing of the battery leads to safety problems and water loss from electrolyte. Manufacturers have either upgraded or are in process of upgrading their products to enhance the efficiency of lead acid batteries. This will not only help mitigating key concerns among consumers but will also offer improved corrosion-resistance, and extended battery life. Some of the leading manufacturers have already launched corrosion-free lead acid batteries and several others are likely to follow suit to keep pace with the dynamic market environment.
India automotive lead acid battery market witnessed significant growth in recent years owing to its cost-effectiveness and high recyclability. The main drivers for lead acid battery in India are raising urbanization and increased focus on EVs by the government. Although, Covid-19 outbreak resulted in a significant decline in lead acid market on the back of the falling commercial sector in India during 2020 and the decline in automobile production..
Growing advancement in technology coupled with the strengthening of the telecommunication sector is adding to the Lead Acid Battery Industry in India. Moreover, the growing energy generation and rising demand for its storage are also the key factors fostering the growth of the market.
Covered in the report:
- Automotive lead acid battery
- Two wheeler
- Three wheeler
- Commercial vehicle
- Motive Power
The reports give an in-depth understanding of the automotive lead acid battery market in India and consist of:
- India Lead Acid Battery Market By value.
- India Automotive Lead Acid Battery Market By Value.
- India Automotive Lead Acid Battery Market By Volume.
- India Automotive Lead Acid Battery Market Share By Type.
- India Automotive Lead Acid Battery Market Share By Industry.
- India Automotive Lead Acid Battery Market Share By Company.
- India Two Wheeler OEM & Replacement Battery Market By Value & Volume.
- India Three Wheeler OEM & Replacement Battery Market By Value & Volume.
- India Tractor OEM& Replacement Battery Market By Value & Volume.
- India Passenger Vehicle OEM & replacement Battery Market By Value & Volume
- India Commercial OEM & replacement Battery Market By value & Volume
Report Methodology
The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of automotive lead acid battery products in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.Table of Contents
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Executive Summary
Cost barrier for the Lithium Ion Battery is an advantage for lead acid battery in automotive industry.
The Government of India has plans to make a major shift to electric vehicles by 2030. Even if India is able to achieve 50-70%, India will be one of the largest adopters of electric mobility. Lead acid battery is the best available option for electric vehicles.
Electric Vehicles uses a battery to store the electric energy that powers the vehicle. Electric Vehicle (EV) is sometimes referred to as Battery Electric Vehicle (BEV).EV batteries are charged by plugging the vehicle in to an electric power source. Electric Vehicles are typically more expensive than similar conventional vehicles, however some cost can be recovered through fuel savings. Rechargeable batteries used in electric vehicles include lead–acid, NiCd, nickel–metal hydride, lithium-ion, Li-ion polymer, and, less commonly, zinc–air and molten-salt batteries.Most electric vehicles have used lead-acid batteries due to their mature technology, high availability, and low cost.For now, our safest bet is to use the tried-and-true lead acid battery for Electric Vehicle. The initial cost is still a significant savings over lithium-ion batteries. If lead-acid batteries are maintained properly, they will function at 80–90% efficiency.
According to the report 'India Automotive Lead Acid Battery Market Outlook, 2023', India overall automotive lead acid battery market has grown with more than 10% CAGR over reviewing period from year 2012-13 to 2017-18. India automotive lead acid battery market is leading by two wheeler battery market, followed by four-wheelers and commercial battery market. As per the Society of India Automobile Manufacturers, the domestic sales of two wheelers in the country stood at more than 20 million units, which are expected to grow at a rapid pace over the next 5 years. India has witnessed a tremendous growth in per capita income thereby resulting in more disposable income in the hands of its citizens. As a result, there has been a sharp increase in the sales of automobiles, particularly of the two wheelers. India has the most number of young people in the world.This is expected to spur the growth of two wheeler lead acid batteries in the forecast period.The automobile industry employs about 19 mn people directly and indirectly. India is the 8 largest commercial vehicle manufacturers in the world. While it is the 2nd largest bus manufacturer, it ranks 5th globally in manufacturing heavy trucks.Growing inclination towards pollution-free electric vehicles coupled with technological developments is expected to increase product demand over the upcoming years.
The two wheeler and four wheeler battery market is anticipated to contribute more than 65% market share of total automotive lead acid battery market by year 2022-23. The major brands which offer lead acid battery in India are Exide and Amaron, which are jointly cater more than 50% of the lead acid battery market.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Exide Industries Limited
- Amaraja Batteries Limited
- Luminous Power Technologies Limited
- HBL Power System Limited
- Su-kam Power Systems Limited
- Okaya Power Private Limited
- TATA Autocomp EY Batteries Private Limited
- Base Corporation Limited
- Southern Batteries Private Limited
- Artheon Electronics Private Limited
