The Indian automotive market witnessed tremendous growth during 2009-12 due to various government initiatives and growing easy loan facilities in the country. The major government measures such as National Automotive Testing and R&D Infrastructure Project (NATRiP), Focus Market Scheme (FMS) and Automotive Mission Plan 2006-16 are further expected to support the sales of passenger cars and commercial vehicles in the country, contributing to the growing demand for automotive batteries. Also, National Electric Mobility Mission Plan, 2020 (NEMMP) targets to augment the demand for electric vehicles to around 5 to 7 million by 2020, which is anticipated to significantly boost the demand for Li-ion automotive batteriesmarket in India.
According to the “India Automotive Battery Market Forecast & Opportunities, 2018”, the Indian automotive battery market is projected to grow at a CAGR of approximately 13% during 2013-18, in value terms. The key reason can be attributed to the recent launches ofMedium Utility Vehicles (MUV) and Sports Utility Vehicles (SUV) such as Renault’s Duster, Mahindra’s XUV, Maruti’s Ertiga and Ford’s Eco Sports, etc. As a result, the utility vehicles battery market segment is expected to witnessthe fastest growth in automobile battery market, followed by two wheeler batteries and light commercial vehicle battery market segments, over the next five years. The demand for automotive battery has largely emerged from northern region of India due to increasing automobile sales in various states such as Uttar Pradesh, Delhi, Rajasthan, etc., and presence of large automobile manufacturers like Honda and Tata. “India Automotive Battery Market Forecast & Opportunities, 2018” report elaborates following aspects related to automobile batteries market expansion in India:
- India Automotive Battery Market Size, Share & Forecast
- Segmental Analysis – Batteries in Passenger Cars, Utility Vehicles, Two Wheelers, Three Wheelers, Light Commercial Vehicles, Commercial Vehicles and Tractors
- Policy & Regulatory Environment
- Changing Market Trends &Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?- To gain an in-depth understanding of automotive battery market in India.
- To identify the on-going trends and anticipated growth in the coming years.
- To help industry consultants, automotive battery manufacturers and dealers to align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing materials
- To gain competitive knowledge of leading players
Report Methodology The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with automotive battery manufacturers, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, and proprietary databases. Analyst access from TechSci Research All report purchases include up to 45 minutes telephone time with our Industry Analyst, who will help you to link key findings in the report with the business issues you're addressing. This needs to be used within two months of purchasing the report