India Lead-Acid Battery Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Application (SLI (Start, Light, and Ignition Batteries), Industrial, and Other Applications)

Market Snapshot

India Lead-Acid Battery Market - Market Summary
Study Period:

2017-2024

Base Year:

2018

Key Players:

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Market Overview

The market for lead-acid battery in India is expected to grow at a CAGR of 8.31% during the forecast period of 2019 – 2024. The country is planning to diversify its energy sources, in addition to its target of providing 24x7 electricity supply to every citizen, by making large increments in renewable energy generation capacities. This is estimated to be a significant driver for the lead-acid battery market. Growth in EV adoption is likely to hamper sales of conventional internal combustion engines (ICE) vehicles, which is expected to hinder the growth of the market studied.

  • The SLI sector accounts for the largest share in the India lead-acid battery market owing to the increasing demand from the automotive sector.
  • Growing solar power generation plants in the country are expected to create significant opportunities for India lead-acid battery market in the future.

Scope of the Report

The India lead-acid battery market report include:

Application
SLI (Start, Light, and Ignition Batteries)
Industrial
Other Applications

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increasing Demand from Automobile Sector

  • The major fraction of the lead-acid battery market is occupied by the automotive industry. The Automotive (excluding electric vehicles) batteries are mostly SLI batteries, which can also be used for applications like in-vehicle entertainment systems, power steering, power locking, power window systems, etc.
  • Over the past few years, India witnessed a tremendous growth in per capita income. This, in turn, improved the level of disposable income. As a result, there has been a sharp increase in the sales of automobiles, particularly of the two- and four-wheeler varieties. This surged the demand for SLI batteries.
  • According to the Society of Indian Automobiles Manufacturers (SIMA), in India, the total automotive sales witnessed a growth of over 20%, between 2011 and 2018.
  • The automotive sector contributed about 60% to the total turnover of the Indian lead-acid battery market in 2018. The improving automobile sales aided the growth of SLI lead-acid batteries. Two-wheeler vehicles are the primary users of SLI batteries.
  • Therefore the growth in the Indian automotive industry is expected to have a direct impact on the growth of lead-acid battery market in the country and thereby driving the market studied over the forecast period.
India Lead-Acid Battery Market - Key Market Trends

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Competitive Landscape

The India lead-acid battery market is highly concentrated with more than 40% of the market being dominated by the unorganized players. Some of the major companies include Exide Industries Ltd., Amara Raja Batteries Ltd, Luminous India, HBL Power Systems Ltd, and Okaya Power Pvt. Ltd.

Major Players

  1. Exide Industries Ltd.
  2. Amara Raja Batteries Ltd
  3. Luminous India
  4. HBL Power Systems Ltd
  5. Okaya Power Pvt. Ltd.

* Complete list of players covered available in the table of contents below

India Lead-Acid Battery Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

    4. 1.4 Study Deliverables

    5. 1.5 Research Phases

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2024

    3. 4.3 Lead Price Analysis

    4. 4.4 Recent Trends and Developments

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 SLI (Start, Light, and Ignition Batteries)

      2. 5.1.2 Industrial

      3. 5.1.3 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Key Company Profiles

      1. 6.3.1 Exide Industries Ltd.

      2. 6.3.2 Amara Raja Batteries Ltd

      3. 6.3.3 Luminous India

      4. 6.3.4 HBL Power Systems Ltd

      5. 6.3.5 Su-Kam Power Systems Ltd.

      6. 6.3.6 Okaya Power Pvt. Ltd.

      7. 6.3.7 Southern Batteries Pvt. Ltd.

      8. 6.3.8 Artheon Electronics Ltd.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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