India Lead-Acid Accumulators Market (2024-2030) | Industry, Growth, Share, Companies, Size, Value, Revenue, Trends, Outlook, Forecast & Analysis

India Lead-Acid Accumulators Market Highlights

Report Name	India Lead-Acid Accumulators Market
Forecast period	2024-2030
CAGR	5%
Growing Sector	Automotive

Topics Covered in the India Lead-Acid Accumulators Market Report

The India Lead-Acid Accumulators Market report thoroughly covers the market by Types, Construction Method, and Applications. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Lead-Acid Accumulators Market Synopsis

The India Lead-Acid Accumulators Market has been witnessing significant growth over the years. Factors such as demand for reliable and energy-efficient solutions, rapid industrial growth, and initiatives by the government are contributing to the growth of the market. The market is expected to grow steadily in the coming years.

According to 6Wresearch, the India Lead-Acid Accumulators Market size is expected to grow at a significant CAGR of 5% during 2024-2030. The primary driver of growth in the India lead-acid accumulators market is the increasing demand for reliable and efficient energy storage solutions. The country's unreliable electricity grid and frequent power outages have led to a surge in demand for backup power solutions. India's rapid industrialization has also contributed to the growth of the lead-acid accumulators market. Industries such as telecommunications, data centres, and manufacturing facilities require uninterrupted power supply for their operations. The Indian government has launched several initiatives to promote the use of renewable energy sources, which is driving the demand for energy storage solutions like lead-acid accumulators.

The market faces stiff competition from alternative technologies such as lithium-ion batteries which is a major challenge for the market. Another challenge faced by the market is environmental concerns due to lead as lead is a toxic substance and improper disposal of lead-acid batteries can have harmful effects on the environment. Moreover, the cost of lead, one of the primary materials used in manufacturing lead-acid batteries, is subject to frequent fluctuations in the international market.

India Lead-Acid Accumulators Industry: Leading Players

Some of the key players in the India lead-acid accumulators market include Exide Industries Ltd., Amara Raja Batteries Ltd., Luminous Power Technologies Pvt. Ltd., HBL Power Systems Ltd., and Okaya Power Pvt. Ltd. These companies are continuously focusing on product innovation and expanding their production capacity to meet the growing demand for lead-acid batteries in the Indian market.

India Lead-Acid Accumulators Market: Government Regulations

One of the key initiatives is the National Electric Mobility Mission Plan (NEMMP). The plan aims to achieve national fuel security by promoting electric and hybrid vehicles in an effort to reduce dependency on imported oil and promote sustainable growth. Additionally, the government has also launched schemes such as Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) to encourage the adoption of electric vehicles and reduce dependence on fossil fuels. Moreover, there have been various policy interventions by the government to promote the use of lead-acid accumulators in different sectors. Furthermore, the Bureau of Energy Efficiency (BEE) has introduced energy efficiency standards for lead-acid battery chargers, promoting sustainable and environmentally friendly practices in the market.

Future Insights of the Market

The India Lead-Acid Accumulators Market is expected to grow steadily in the coming years 2024 – 20230 due to an increasing focus on renewable energy sources and the growing demand for backup power solutions. The market is also expected to see a shift towards advanced lead-acid batteries, such as valve-regulated lead-acid (VRLA) batteries, which offer better efficiency and longer lifespan. Additionally, advancements in technology are likely to drive down the cost of lead-acid accumulators, making them more affordable for consumers.

Market Segmentation by Types

According to Ravi Bhandari, Research Head, 6Wresearch, the SLI segment is expected to dominate the market due to its wide range of applications in the automotive, commercial, and residential sectors.

Market Segmentation by Construction Method

Based on the construction method, the VRLA segment is gaining popularity due to its maintenance-free nature and longer lifespan compared to flooded batteries.

Market Segmentation by Applications

In terms of applications, the automotive sector holds a major share of the market due to increasing demand for vehicles and growing awareness towards using eco-friendly and energy-efficient batteries.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Reports

• India Lead-Acid Accumulators Market Overview
• India Lead-Acid Accumulators Market Outlook
• India Lead-Acid Accumulators Market Forecast
• Historical Data of India Lead-Acid Accumulators Market Revenues and Volumes, for the Period 2020-2030.
• Market Size & Forecast of India Lead-Acid Accumulators Market Revenues and Volumes, until 2030.
• Historical Data of India Lead-Acid Accumulators Market Revenues and Volumes, by type, for the Period 2020-2030.
• Market Size & Forecast of India Lead-Acid Accumulators Market Revenues and Volumes, by type, until 2030.
• Historical Data of India Lead-Acid Accumulators Market Revenues and Volumes, by construction method, for the Period 2020-2030.
• Market Size & Forecast of India Lead-Acid Accumulators Market Revenues and Volumes, by construction method, until 2030.
• Historical Data of India Lead-Acid Accumulators Market Revenues and Volumes, by application, for the Period 2020-2030.
• Market Size & Forecast of India Lead-Acid Accumulators Market Revenues and Volumes, by application, until 2030.
• Market Drivers and Restraints
• India Lead-Acid Accumulators Market Price Trends
• India Lead-Acid Accumulators Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• India Lead-Acid Accumulators Market Share, By Players
• India Lead-Acid Accumulators Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The report provides a detailed analysis of the following market segments:

By Types

• Stationary
• Motives
• SLI

By Construction Method

• Flooded
• VRLA

By Applications

• Automotive
• Utilities
• Industrial
• Commercial
• Residential