Lead Acid Battery Market Outlook – Automobile Industry and Power Backup Sector Driving Growth

MUMBAI, India - Sept. 21, 2017 - PRLog -- Global market intelligence firm, Netscribes, Inc. released its latest report on the 'Lead Acid Battery in India 2017 (https://www.researchonindia.com/lead-acid-battery-market-in-india-2047.html)' providing an overview on the current status of the market. The report states that despite development of newer types of batteries, the market for lead acid batteries is expected to exhibit strong growth in the coming years.

Netscribes' latest market research report titled Lead Acid Battery in India 2017 states that growth in the country's automobile industry and increased need for power backup solutions are playing a significant role in the market's growth. Increased focus of companies to achieve higher sales in the more lucrative replacement market is helping in strong value-wise growth in the market. Growth in various sectors that are highly dependent on uninterrupted power supply is also resulting in higher demand for lead acid batteries. Government initiatives to develop the renewable energy sector are resulting in the growth of the industrial battery segment. This segment is expected to grow at a faster pace than the automotive segment.

The lead acid battery in India is duopolistic in nature, with Exide Industries and Amara Raja Batteries controlling ~50% of the total market. While Exide has leadership position in the automotive segment, Amara Raja dominates the industrial segment. The two companies are also undertaking several capacity expansion projects to boost production to meet growing demand in the country. Apart from these two companies, other dominant players in the market include HBL Power Systems, AMCO Batteries, Celtek Batteries, Su-Kam Power Systems and Luminous Power Technologies. Although advancements in battery technologies have resulted in the development of more efficient types of batteries such as lithium ion and lithium polymer, the lead acid battery market in India currently faces little threat from them.

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