India Lead Acid Battery Market Import Shipment Trend (2020-2024)
The India lead acid battery market import shipment demonstrated strong growth with a notable CAGR from 2020 to 2024. However, the growth rate between 2023 and 2024 experienced a slight decline, indicating a potential stabilization or slowdown in the market momentum towards the end of the period.
India Lead Acid Battery Market Size & Growth Rate
The India Lead Acid Battery Market is projected to grow at a CAGR of 6.5% from 2021 to 2027, driven by rising demand from the transportation sector, increasing adoption of backup power solutions for data centers and telecom, and strong government support for electric mobility and battery innovation through initiatives and collaborations with organizations like ALABC.
India Lead Acid Market | Country-Wise Share and Competition Analysis
In the year 2021, China was the largest exporter in terms of value, followed by Viet Nam. It has registered a growth of 55.71% over the previous year. While Viet Nam registered a growth of 30.33% as compare to the previous year. In the year 2017 China was the largest exporter followed by Viet Nam. In term of Herfindahl Index, which measures the competitiveness of countries exporting, India has the Herfindahl index of 2267 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of 1810 which signifies moderately concentrated in the market.
India Lead Acid Market - Export Market Opportunities
India Lead Acid Battery Market Latest Developments (2023)
India Lead Acid Battery Market has accomplished massive growth and the market is anticipated to grow more in the upcoming years since a number of developments are taking place in the sector which is aiding the market to become one of the huge markets in the country. The Advanced Lead–Acid Battery Consortium (ALABC) play an essential role in the growth of the Lead Acid Battery Market in India as it has been working constantly on the promotion and development of lead-based batteries for sustainable markets like start–stop automotive systems, grid-scale energy storage applications, and hybrid electric vehicles (HEV). ALABC also works on the addition of carbon to the negative plates in order to extend the battery life and improve the lead-acid battery dynamic charge acceptance.
corrosive sulfuric acid is used in lead–acid batteries, and during the change both hydrogen as well as oxygen evolved. Thus, special measures are required to prevent acid leakage as well as charging gas ignition and the players in this sector have been working to meet these requirements. The companies in this sector have been working to come up with energy-efficient lead-acid batteries. The government of India has been supportive of this sector and is anticipated to make significant developments in the market in the near future.
India Lead Acid Battery Market Synopsis
India 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 rising urbanization and increased focus on EVs by the government. Although, the Covid-19 outbreak resulted in a significant decline in the 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.
However, the spread of Covid-19 in 2020 resulted in a slight decline in the India lead acid Market Growth owing to a decline in the production of automobiles and the suspension of manufacturing plants during the lockdown period. Although, the demand for inverters and UPS saw a sudden rise during the year 2020 due to the adoption of work from a home culture which required people to install backup solutions at their homes for uninterrupted work.
According to 6Wresearch, the India Lead Acid Battery Market is projected to grow at a CAGR of 6.5% during 2021-2027. The primary reason for the projected growth would be rising data centres in the country, requiring uninterrupted battery backup solutions. Additionally, increased government initiatives in electrifying mobility, for instance, various tax deductions and subsidies make the India EV landscape promising, where lead-acid market is heavily used and hence it would increase market revenues during the forecast period.
Market by Applications Analysis
in terms of applications, the transportation segment has captured above 50% of the market revenues in 2020. Transportation has dominated the India lead acid battery market Share in terms of application owing to the large population of the country and the rising Indian automobile sector. About 22 million units of vehicles were produced in FY 2021 in the country which has augmented the lead-acid battery market in India. This trend is expected to persist in the coming years as well with the production of electric vehicles in India in addition to the internal combustion engine cars produced in India.
Market by End Users Analysis
In India Lead Acid Battery market, passenger vehicle battery has led the overall market revenues accounting for more than 30% of the market revenues in 2020. Passenger vehicles were the highest revenue-generating segment for the lead-acid battery market of India in 2020 owing to the large number of passenger vehicles produced in the country in the respective year. Moreover, the battery replacement market for passenger vehicles also pushed the lead-acid battery market of the country in 2020.
Factors Stimulating the India Lead Acid Battery Industry Growth
Some key factors driving the growth of the Lead Acid Battery Market in India are the growth in the SLI applications in the automotive sector, the rise in renewable energy production, as well as the high demand for energy storage devices. The growth in the telecom sector of India is also fueling the growth of this market. The growth in the telecom sector is leading to high requirements for UPS systems as a power back up, which, in turn, is leading to greater adoption of these batteries as cost-competitive energy. These are some of the main factors making the market more efficient. The market has been propelling efficiently in the country.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
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 and Forecast of India Lead Acid Battery Market Revenues for the Period 2017-2027F
- Historical Data and Forecast of India Lead Acid Battery Market Revenues By Types, for the Period 2017-2027F
- Historical Data and Forecast of India Lead Acid Battery Market Revenues By Construction Method, for the Period 2017-2027F
- Historical Data and Forecast of India Lead Acid Battery Market Revenues, By Applications, for the Period 2017-2027F
- Historical Data and Forecast of India Lead Acid Battery Market Revenues, By End Users, for the Period 2017-2027F
- Historical Data and Forecast of India Lead Acid Battery Market Revenues, By Regions, for the Period 2017-2027F
- Market Drivers
- Market Restraints
- Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Market Player’s Revenue Shares
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types:
- Starting Lighting and Ignition (SLI)
- Motive
- Stationary
By Construction Method:
- Flooded
- Sealed
By Applications:
- Transportation
- Industrial
- Others (Residential and Commercial)
By End Users:
- Commercial Vehicle Battery
- Passenger Vehicle Battery
- Inverter Battery
- Others (Telecom, Railways, and other industries)
By Regions:
- Northern Region
- Southern Region
- Eastern Region
- Western Region
