India Automotive Lead Acid Battery Market Outlook, 2027-28' gives a comprehensive analysis on the automotive lead acid battery industry of India. The market has observed a consistency in last five years and is expected to continue growing in next few years. Automotive manufacture comprises the production of two wheelers, three wheelers, commercial and passenger vehicles, truck, tractor, etc.The major causes for the growth are disposable income is increasing, India has the most number of young population in the world, increase in tourism industry, demonetization, GST, etc.
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
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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
This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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.
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