Cost barrier for the Lithium Ion Battery is an advantage for lead acid battery in automotive industry :Bonafide Research

Cost barrier for the Lithium Ion Battery is an advantage for lead acid battery in automotive industry :Bonafide Research

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 the report on 'India Automotive Lead Acid Battery Market Outlook, 2023' published by Bonafide Research, 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.

Major Companies

Major companies that operate into the automotive lead acid battery market in India are Exide Industries Limited, Amara Raja Batteries Limited, Luminous Power Technologies Limited, TATA AutocompGy Batteries Private Limited, OKAYA Power Pvt. Ltd, Su-kam power system Limited

Report: India Automotive Lead Acid Battery Market Outlook, 2023

Base Year: 2017-18, Estimated Year: 2018-19, Forecast Year: 2022-23

Pages: 100 Figures: 31Tables:18


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