Bangladesh Lead-Acid Battery Market 2020 Insights and Business Scenario – BASE Technologies Ltd., Panna Group, Rahimafrooz Ltd, Saif Powertec Limited, Okaya Power Pvt Ltd, Exide Industries Limited

The Bangladesh Lead-Acid Battery Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.

The Bangladesh lead-acid battery market is expected to grow at a CAGR of more than 3 % throughout 2020-2025. Factors such as the growing automotive sector in the country and the low cost of lead, are likely to drive the lead-acid battery market during the forecast period. Over the past few years, Bangladesh witnessed tremendous growth in per capita income. This, in turn, improved the level of disposable income. As a result, there has been a sharp increase in the sales of automobiles, particularly of the two- and four-wheeler varieties. This surged the demand for SLI batteries and is expected to propel the Bangladesh lead-acid battery market. However, declining lithium-ion battery prices and increasing adoption of electric vehicles are likely to restrain the growth of the lead-acid battery market in the coming years.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Bangladesh Lead-Acid Battery Market: BASE Technologies Ltd., Panna Group, Rahimafrooz Ltd, Saif Powertec Limited, Okaya Power Pvt Ltd, Exide Industries Limited, and others.

September 12th, 2019: Bangladeshi battery busting boundaries: 25 local companies now exporting to 70 countries

To cater to the demand, currently around 25 local companies are manufacturing batteries for three-wheelers, hybrid and electric cars, scooters, commercial vehicles, cars, instant power supply (IPS), solar panels and batteries for use in various appliances, according to the industry people. A growing demand for automotive battery, fuelled mostly by widespread use of battery-run three-wheelers in rural and semi-urban areas, has led to booming business of local firms now exporting to around 70 countries. Besides, appearance of hybrid and electric cars in local market, and scooters using battery in conjugation with fuels have further propelled the business the market of which has grown three to four times over the past ten years.

With improved road communication and gravelled roads penetrating deep into the rural areas, old modes of non-motorized transports have made way for motorized vehicles, which can be seen scurrying along the roads.

May 11th, 2020: Okaya Joins CharIN EV to Enhance Charging Experience, Promote E-Mobility
With an aim to enhance charging experience and promote electric mobility in the country, Okaya Power Pvt Ltd, an arm of Rs 7 billion Okaya Power Group, has now become a member of the Charging Interface Initiative (CharIN E.V.), an open coalition of world-class firms within the electric vehicle (EV) industry. Berlin-based CharIN E.V. is a registered association founded by Audi, BMW, Daimler, Mennekes, Opel, Phoenix Contact, Porsche, TÜV SÜD and Volkswagen.

The move is aimed at supporting the Combined Charging System (CCS) as a global standard for EV charging. The company, which is among the leading brands in the battery and inverter manufacturing space, said that it has joined CharIN in order to contribute towards the global electric mobility (e-mobility) revolution with its expertise in the development of EV. Commenting on joining forces with CharIN, Anshul Gupta, Director of Okaya Power Pvt Ltd, said that “as one of the largest players in EV charging segment, our membership in CharIN exemplifies our continued efforts to boost EV ecosystem in the country. At Okaya, we understand the need for internationally flexible charging system which ensures maximum compatibility between current vehicles and chargers, and reinforces the ability to persist through future innovations.”

Key Market Trends

- SLI (Starting, Lighting, and Ignition) batteries are expected to dominate the Bangladesh lead-acid battery market during the forecast period due to the booming automotive sector.

- With the decreasing cost of solar PV equipment and supportive global initiatives to eliminate the carbon emission and promote renewables, the utilization of off-grid renewable projects is expected to increase significantly in the country during the forecast period. This, in turn, is expected to provide an excellent opportunity for the lead-acid battery market during the forecast period.

- The automobile sector is expected to drive the Bangladesh lead-acid battery market during the forecast period.
SLI (Starting, Lighting, and Ignition) batteries expected to Dominate the Market

- SLI batteries are designed for automobiles, and therefore, it is always installed with the vehicle's charging system, which means that there is a continuous cycle of charge and discharge in the battery whenever the car is in use. The 12-volt batteries have been the most commonly used batteries for more than 50 years; however, its standard voltage (while in use in the car and being charged by the alternator) is close to 14-volt.

- The major factors attributing to the growth of the SLI battery market in Bangladesh is the increasing demand for these batteries to power start the motor, lights, and ignition system or other internal combustion engines with high performance, long life, and cost-efficiency. Besides, the market is witnessing significant growth due to an increase in the number of mobile towers. The telecommunication sector drives the lead-acid battery market in the country.

- Moreover, lead-acid battery is the technology of choice for all SLI battery applications in conventional combustion engine vehicles, such as cars and trucks worldwide. Furthermore, growth in the three-wheel vehicle in the country has contributed to the lead-acid battery market.

- Although the conventional combustion engine is expected to decline in Bangladesh over the next 30-40 years because of growth in electric vehicles, however, replacement car technologies are expected to continue to use SLI type lead-acid batteries to provide power for a range of electronics and safety features within the vehicle.

Telecom sector is Expected to Drive the Market

- The information and communication technology (ICT) industry in Bangladesh is witnessing robust growth, on account of deployment of the latest technologies, and the industry is supported by the government policies to connect the entire population of the country with the internet under the vision-2021.

- In Bangladesh, about one-third of the total population is comprised of youth and young people. In 2018, as per the national youth policy of Bangladesh, 61% population of the country fell in the range of 15-64 years. The country is poised to witness a surge in the expansion of the ICT industry, as the young minds of the country engage themselves more with information technology-enabled services (ITES).

- Lead-acid batteries are widely used as the source of power in the mobile towers and back-up systems, which are likely to witness increased usage due to the growth in the information and communications technology (ICT) industry.

- In December 2018, the state-owned mobile operator Teletalklaunched 4G (fourth generation) mobile data services commercially in Dhaka. For the implementation of the 4G network, the company has taken up projects worth BDT 9.87 billion. Under the fund, 550 towers were already established, as of 2018, mostly in big cities, and the process to set up another 550 in district headquarters were under implementation.

- The growth in the ICT industry is leading to augmentation in communication infrastructure. Which, in turn, is anticipated to drive the Bangladesh lead-acid battery market during the forecast period.

Influence Of The Bangladesh Lead-Acid Battery Market Report:

-Comprehensive assessment of all opportunities and risk in the Bangladesh Lead-Acid Battery market.
- Bangladesh Lead-Acid Battery market recent innovations and major events.
-A detailed study of business strategies for growth of the Bangladesh Lead-Acid Battery market-leading players.
-Conclusive study about the growth plot of Bangladesh Lead-Acid Battery market for forthcoming years.
-In-depth understanding of Bangladesh Lead-Acid Battery market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Bangladesh Lead-Acid Battery market.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.

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