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[ 英語タイトル ] India Battery Market - Growth, Trends, and Forecasts (2020 - 2025)


Product Code : MDEP0087721
Survey : Mordor Intelligence
Publish On : November, 2020
Number of Pages : 90
Category : Energy and Power
Report format : PDF
Sales price option (consumption tax not included)
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 - Exide Industries Ltd
- Luminous Power Technologies Pvt. Ltd.
- HBL Power Systems Ltd
- TATA AutoComp GY Batteries Pvt. Ltd.
- Okaya Power Pvt. Ltd.
- Amara Raja Batteries Ltd
- Su-Kam Power Systems Ltd.
- Base Corporation Ltd.
- Southern Batteries Pvt Ltd.
- Evolute Solutions Pvt. Ltd.

[Report Description]

The India battery market is expected to grow at a CAGR of more than 15% during 2020 - 2025. The India battery market is already making sustained gains and is expected to flourish in the global market over the forecast period with the rise in electric vehicle sales coupled with increasing solar PV installations in the country, which in turn, likely to drive the market. In India, several government measures such as the promotion of fuel-saving initiatives and clean fuel-based automobile technologies are anticipated to propel the demand for batteries in the country. Factors such as the emergence of new and exciting markets, i.e., electric vehicle and battery energy storage systems, for different applications are expected to be the major drivers for the battery market in India. However, the absence of lithium-ion domestic manufacturing facilities which form a key market for application in BESs and EV is likely to restrain the market.

- The Automotive segment is expected to have a significant growth in the India battery market during the forecast period.
- Plans for local manufacturing of lithium-ion batteries in India is expected to bring down the EV cost in due time and reduce the dependency and increments on import duties, which in turn, is likely to provide an opportunity in the li-ion battery market in the near future.

Key Market Trends

The Automotive Segment is Expected to Witness a Significant Growth in the Market

- India became the fourth largest automobile market in 2018 with sales increasing 8.3% year-on-year to 3.99 million units. It was the seventh-largest manufacturer of commercial vehicles in 2018.
- The two-wheeler segment dominates in the automotive market owing to a growing middle class and a young population. Organized companies sell branded batteries with warranties, while unorganized companies provide no warranty or after-sales, sell recycled batteries and price them at 30-35% discount to branded ones. India Automotive replacement battery market is leading the lead-acid battery market.
- Li-ion batteries make up for the most expensive component of an electric vehicle, accounting for 40-50% of its cost. The high adaptability of EVs projected in India and the changing dynamics of the transportation sector in the country, are expected to rise the demand for lithium-ion batteries in the automotive market.
- With growing solar PV installations and further gaining up in renewable power capacity additions coupled with attractive business for electric vehicles in India, the battery energy storage systems is certain to add more features in automotive segment and gather momentum in the country.

Increasing Demand for Electric Vehicles (EVs) is Expected to Drive the Market

- Electric vehicles (EVs) are expected to play a central role in attaining sustainable development goals. In India, the adoption of EV is likely to grow significantly with the increasing demand for clean energy sources. The government has plans to achieve a target of 30% electric vehicle adoption by 2030 powered primarily by electrification of two-wheeler, three-wheeler, and commercial vehicles in India.
- In India, where about more than 3 million fossil fuel-powered passenger vehicles sold annually, few automakers including Mahindra & Mahindra Ltd., Tata Motors Ltd., and Ashok Leyland Ltd. are making EVs domestically. Overseas companies such as Hyundai Motor Co. and Suzuki Motor Corp. are also entering the new segment as the government plans to have green vehicles comprise about a third of its fleet by 2030.
- The market is likely to be dominated by electric three-wheelers as these vehicles are majorly used for passenger carriers. The market for supplying batteries to e-rickshaws, small privately-owned three-wheeler taxis, is expected to grow at a compounded rate of about 20% over the next five years.
- India’s electric car stock has grown from 7 thousands of vehicles in 2017 to 10.30 thousands of vehicles in 2018, showing about 47% growth rate in the market.
- Therefore, the increase in adoption of electric vehicles is expected to drive the battery market in India during the forecast period.

Competitive Landscape

The India battery market is fragmented. Some of the major players in the market include Exide Industries Ltd, Luminous Power Technologies Pvt. Ltd., HBL Power Systems Ltd, TATA AutoComp GY Batteries Pvt. Ltd., and Okaya Power Pvt. Ltd.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD biliion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis

5 MARKET SEGMENTATION
5.1 Technology
5.1.1 Li-ion Battery
5.1.2 Lead-acid Battery
5.1.3 Others
5.2 Application
5.2.1 SLI Batteries
5.2.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
5.2.3 Portable (Consumer Electronics etc.)
5.2.4 Automotive (HEV, PHEV, EV)
5.2.5 Other Applications

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Exide Industries Ltd
6.3.2 Luminous Power Technologies Pvt. Ltd.
6.3.3 HBL Power Systems Ltd
6.3.4 TATA AutoComp GY Batteries Pvt. Ltd.
6.3.5 Okaya Power Pvt. Ltd.
6.3.6 Amara Raja Batteries Ltd
6.3.7 Su-Kam Power Systems Ltd.
6.3.8 Base Corporation Ltd.
6.3.9 Southern Batteries Pvt Ltd.
6.3.10 Evolute Solutions Pvt. Ltd.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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