Market Forecast By Types (SLI (Starting Lighting Ignition), Stationary And Motive/Traction), By Construction Method (Flooded And VRLA), By Applications (Automotive, Telecommunications, UPS & Inverter, Electric Vehicles & Renewable Energy And Others), By Capacity (Up To 100 Ah, 100.1-200 Ah, 200.1-300 Ah And Above 300 Ah), By Regions (Northern, Western, Eastern And Southern) And Competitive Landscape
According to 6Wresearch, the India Lead Acid Battery Market is projected to grow at a CAGR of 6.5% during 2021-2027. An increasing number of telecom towers, data centers, and the rising disposable income in India which allows people to invest in automobiles and inverters are the major factors contributing to the growth of the lead acid battery market in the country. The projected growth in India Lead Acid Battery Market for the coming years can also be attributed to the growing electric vehicle market which is gaining traction in the country owing to rising fuel prices, the government’s support towards the electric vehicle market and the increasing involvement of automobile manufacturers in the electric vehicle market.
India lead acid battery market witnessed a decent growth in recent years on account of growing consumer demand for two wheelers and passenger vehicles underpinned by rising urbanization in the country and growing residential and commercial sector. The demand for lead acid batteries witnessed an upward growth trajectory mainly attributed to rise in demand for automobiles in addition to inverters and UPS from urban consumers.
Market by End Users Analysis
In India Lead Acid Battery market, passenger vehicle battery has led the overall market revenues accounting for more than 30% of the market revenues in 2020.
Key Highlights of the Report
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