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Exide Industries Leading India’s $5 Billion Battery Market

Growing vehicle fleet size coupled with increasing investments in telecom sector to drive demand for batteries in India through 2022

According to TechSci Research report India Battery Market By Application, Competition Forecast & Opportunities, 2011 - 2022, India battery market is projected to reach USD8.63 billion by 2022, on account of increasing penetration of consumer electronics such as smartphones, tablet PCs, laptops, etc., expansion of telecommunication networks and growing demand for electric and hybrid vehicles. Further, automobile sector, which forms a major consumer base for batteries in India, is experiencing growth in sales over the last five years. This encourages several domestic automobile manufacturers to expand their manufacturing capacities and this is anticipated to surge demand for batteries during the forecast period. Furthermore, several industrial end users of batteries such as telecom, solar plants, etc., are also anticipated to boost demand for batteries in India in the coming years.  

Browse 10 market data Tables and 24 Figures spread through 102 Pages and an in-depth TOC on "India Battery Market"

Automobile segment dominated India battery market and the segment is anticipated to continue dominating the market 2022. India is one of the leading manufacturer of automobiles in the world and is witnessing a healthy growth in sales as well as production of automobiles. Automobile production in the country grew at a CAGR of 4.5% during 2011-2015 and reached 24.88 million in 2015. A major portion of the demand for Indian manufactured automobiles also emanates from African and Latin American countries. Moreover, growing engagement of taxi aggregators such as Ola and Uber in the country’s commercial passenger vehicle industry is generating scope for automobile battery manufacturers to invest in capacity expansions and capitalize on the growing OEM as well as replacement demand for batteries. Further, increasing number of government initiatives and schemes are anticipated to drive sales of electric vehicles in the country and this augur well for automobile battery demand in India in the coming years.    

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‘’India battery market is witnessing a shift in consumer preference from local batteries (unorganized sector) to branded batteries in both OEM and replacement segments. Moreover, government is also providing necessary push to end user industries such as telecom and automobile through various policies and tax relaxations. The Automotive Mission Plan 2016-2026 is one such initiative by Government of India which aims at increasing automobile production in the country by four to five times by 2026 in comparison to 2016. said Mr. Karan Chechi from TechSci Research, a research based management consulting firm.

India Battery Market By Application, Competition Forecast & Opportunities, 2011 - 2022has evaluated the future growth potential of battery market in India and provides statistics and information on market structure, industry trends, etc. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in India battery market.

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