India Lead Acid Battery Market Import Shipment Trend (2020-2024)
The India lead acid battery market import shipment demonstrated robust growth with a notable CAGR from 2020 to 2024. However, there was a slight decline in growth rate between 2023 and 2024. Overall, the market expanded significantly with strong momentum, despite a minor slowdown in the final year.
India Lead Acid Battery Market has registered steady growth during the past few years owing to the advancement of technology. Surging awareness towards the utilization of renewable energy, rising demand for power backup as well as the growing automotive industry is driving the growth of the lead-acid battery market in India. Further, government initiatives such as the target to achieve 175 GW renewable energy by 2022 and FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) scheme subsidy provision for purchase and manufacturing of electric vehicles would further fuel the demand for lead-acid battery during the forecast period. In addition, the presence of a lucrative replacement market in the country is further complementing the India lead-acid battery market Growth
According to 6Wresearch, India lead-acid battery market size is projected to grow at a CAGR of over 9% during 2018-24. SLI battery segment bagged the highest revenue share in 2017, followed by the stationary battery segment. SLI battery is projected to lead the market during the forecast period owing to its high utilization in automobiles. Moreover, automobile sales registered an increase of around 14% in 2017; vehicle production in India registered a CAGR of nearly 6% during 2011-17, contributing towards the India Lead Acid Battery Market Share.
India lead-acid battery market is driven by the automotive and UPS & Inverter industry, government schemes for the electric vehicles coupled with rising installation of renewable energy projects in the country.
Further, motive/traction battery is anticipated to exhibit the second-highest growth rate over the coming years on the back of its usage across railways coupled with the growing adoption of electric vehicles in the country. In terms of construction methods, flooded battery captured the majority of the India lead Acid Battery Market share in 2017; however, the VRLA segment is likely to display a higher growth rate owing to its benefits over flooded ones, such as the advantage of immobilized electrolyte in VRLA battery which prevents electrolyte leakage and do not require maintenance.
The India lead-acid battery market report thoroughly covers India Lead Acid Battery Market by types, construction method, applications, and regions. The India lead-acid battery market outlook report provides an unbiased and detailed analysis of the India lead-acid battery market trends, opportunities/ high growth areas, and market drivers which would help the stakeholders to decide and align their market strategies accordingly to the current and future market dynamics.
The India Lead Acid Battery Market is expected to register potential revenue growth in the coming years on the back of low-cost energy storage needs coupled with increasing urbanization and industrialization. Also, based on applications, government and consumer-based pull are the major factors contributing to the increased demand for lead-acid batteries in India. Growing inclination towards the adoption of electric vehicles, efficient production costs, rising adoption of recycled acid batteries, and technical advancements are, further, some of the potential drivers of the India lead-acid battery market. Moreover, the residential application is expected to witness significant growth in the coming years owing to the rising adoption of inverters and UPS systems for domestic use in the country and would propel potential market growth for the lead-acid battery market in the country in the near future.
India lead-acid battery market is estimated to register sound revenues in the coming years on the back of the growth of the automotive sector. India holds a major position in commercial vehicles as a result of rising government initiatives in creating awareness among the vast population towards using electrical commercial vehicles. This is working as a positive factor for the growth of the lead-acid battery market in Indiadeployment to power passenger car electrical equipment and engines in the country to ensure disruptive mobility and is expected to proliferate the significant growth of the India lead-acid battery market in the coming timeframe. Further, evolution for domestic electrical two-wheeler vehicles is estimated to leave a positive impact on the product demand as timely maintenance and repair of batteries for the smooth mobility of the vehicle is necessary and is expected to spur the potential growth of India lead-acid battery market in the coming years.
India lead-acid battery market is estimated to register sound revenues in the upcoming six years on the back of rising potential growth of the telecommunication industry. Increased investment by telecom operators in broadening telecom towers in the country due to burgeoning internet subscribers day by day is expected to instigate lead-acid batteries to use in order to power telecom systems, as a result, prominent growth of the market is expected to be witnessed in the coming years. Further, the rise in the agriculture sector tends to elevate the adoption of lead-acid batteries in order to power pumps in case of a power failure is anticipated to increase the India lead-acid battery market Revenue during the forthcoming period.
India lead acid battery market is projected to gain traction in the upcoming six years on the back of the rising growth of the commercial sector. Further, the emerging growth of the corporate sector in the country is estimated to accumulate high sales owing to the rising shift of population from primary to tertiary sector to accomplish standard living concurrently increasing UPS system adoption in the corporate sector and is estimated to proliferate the demand for lead-acid battery and is estimated to bolster the impressive growth of the India lead-acid battery market in the upcoming six years.
Key Highlights of the Report:
• India Lead Acid Battery Market Overview
• India Lead Acid Battery Market Outlook
• India Lead Acid Battery Market Forecast
• Historical data of Global Lead Acid Battery Market Revenues for the Period, 2014-2017
• Market Size & Forecast data of Global Lead Acid Battery Market Revenues, until 2024
• Historical data of India Lead Acid Battery Market Revenues for the Period, 2014-2017
• India Lead Acid Battery Market Size & India Lead Acid Battery Market Forecast, until 2024
• Historical data of India Lead Acid Battery Market Revenues, By Types for the Period, 2014-2017
• Market Size & Forecast data of India Lead Acid Battery Market Revenues, By Types, until 2024
• Historical data of India Lead Acid Battery Market Revenues, By Construction Method for the Period, 2014-2017
• Market Size & Forecast data of India Lead Acid Battery Market Revenues, By Construction Method, until 2024
• Historical and Forecast data of India Lead Acid Battery Market Revenues, By Applications for the Period, 2014-2024
• Historical and Forecast data of India Lead Acid Battery Market Revenues, By Capacity for the Period, 2014-2024
Period, 2014-2024
• Market Drivers and Restraints
• India Lead Acid Battery Market Trends and Opportunities
• Industry Life Cycle and Value Chain Analysis
• Porter's Five Forces Analysis
• India Lead Acid Battery Market Share, By Players
• India Lead Acid Battery Market Overview on Competitive Landscape
• Company Profiles
• Recommendations
Markets Covered
The India lead-acid battery market report provides a detailed analysis of the following market segments:
• By Types:
o SLI (Starting Lighting Ignition)
o Stationary
o Motive/Traction
• By Construction Methods:
o Flooded
o VRLA
• By Applications:
o Automotive
o Telecommunications
o UPS & Inverter
o Electric Vehicles & Renewable Energy
o Others
• By Capacities:
o Up to 100 Ah
o 100.1-200 Ah
o 200.1-300 Ah
o Above 300 Ah
• By Regions:
o Northern
o Western
o Eastern
o Southern
