Cost barrier for the Lithium Ion Battery is an advantage for lead acid battery.

The Government of India has plans to make a major shift to electric vehicles by 2030. Even if India is able to achieve 50-70%, India will be one of the largest adopters of electric mobility. Lead acid battery is the best available option for electric vehicles.

Electric Vehicles uses a battery to store the electric energy that powers the vehicle. Electric Vehicle (EV) is sometimes referred to as Battery Electric Vehicle (BEV).EV batteries are charged by plugging the vehicle in to an electric power source. Electric Vehicles are typically more expensive than similar conventional vehicles, however some cost can be recovered through fuel savings. Rechargeable batteries used in electric vehicles include lead–acid, NiCd, nickel–metal hydride, lithium-ion, Li-ion polymer, and, less commonly, zinc–air and molten-salt batteries.Most electric vehicles have used lead-acid batteries due to their mature technology, high availability, and low cost.For now, our safest bet is to use the tried-and-true lead acid battery for Electric Vehicle. The initial cost is still a significant savings over lithium-ion batteries. If lead-acid batteries are maintained properly, they will function at 80–90% efficiency.

According the report on 'India Automotive Lead Acid Battery Market Outlook, 2023' published by Bonafide Research, India overall automotive lead acid battery market has grown with more than 10% CAGR over reviewing period from year 2012-13 to 2017-18. India automotive lead acid battery market is leading by two wheeler battery market, followed by four-wheelers and commercial battery market. As per the Society of India Automobile Manufacturers, the domestic sales of two wheelers in the country stood at more than 20 million units, which are expected to grow at a rapid pace over the next 5 years. India has witnessed a tremendous growth in per capita income thereby resulting in more disposable income in the hands of its citizens. As a result, there has been a sharp increase in the sales of automobiles, particularly of the two wheelers. India has the most number of young people in the world.This is expected to spur the growth of two wheeler lead acid batteries in the forecast period.The automobile industry employs about 19 mn people directly and indirectly. India is the 8 largest commercial vehicle manufacturers in the world. While it is the 2nd largest bus manufacturer, it ranks 5th globally in manufacturing heavy trucks.Growing inclination towards pollution-free electric vehicles coupled with technological developments is expected to increase product demand over the upcoming years.

Report Link : https://www.bonafideresearch.com/product/180750031/India-Automotive--Lead-Acid-Battery-Market-Outlook-2023

The two wheeler and four wheeler battery market is anticipated to contribute more than 65% market share of total automotive lead acid battery market by year 2022-23. The major brands which offer lead acid battery in India are Exide and Amaron, which are jointly cater more than 50% of the lead acid battery market.

India Automotive Lead Acid Battery market has grown with a CAGR of more than 10% in the review period of FY 2012-13 to FY 2017-18. The period has witnessed the growth of replacement lead acid battery market and the consumers will be shifting from unorganized players to organized player for replacement battery market. The major reason for so is the high economic development of India which has resulted in higher purchasing power to Indian consumer, organized player like Exide is coming up with low price product to give competition to unorganized products. The replacement lead acid battery market is dominating the lead acid battery market with more than 65% market share. The duology of Exide Industries Limited and Amara Raja Batteries Limited, together share market share of more than 50% of total automotive lead acid battery market.

Covered in the report:
• Automotive lead acid battery
• Two wheeler
• Three wheeler
• Commercial vehicle
• Motive Power

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How it will help solving your strategic decision-making process??

- India Lead Acid Battery Market By value.
- India Automotive Lead Acid Battery Market By Value & Volume.
- India Automotive Lead Acid Battery Market Share ByType, By Industry & By Company.
- India Two Wheeler OEM & Replacement Battery Market By Value & Volume.
- India Three Wheeler OEM & Replacement Battery Market By Value & Volume.
- India Tractor OEM& Replacement Battery Market By Value & Volume.
- India Passenger Vehicle OEM & replacement Battery Market By Value & Volume
- India Commercial OEM & replacement Battery Market By value & Volume

This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Report Methodology

The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of automotive lead acid battery products in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.

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