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India Battery Market Assessment, By Type [Non-Rechargeable, Rechargeable], By Energy [Primary, Secondary], By Propulsion [ICE Vehicles, Electric Vehicles, Hybrid Vehicles], By Vehicle Type [Two-wheeler, Three-wheeler, Four-wheeler], By End-User [Domestic, Industrial], By Region, Opportunities, and Forecast, FY2017-FY2031F
Market Report I 2024-04-19 I 83 Pages I Market Xcel - Markets and Data
India Battery Market is anticipated to reach USD 17.30 billion in FY2031 at CAGR of 13.66% during the forecast period FY2024-FY2031 and was valued at USD 7.06 billion in FY2023 on rising demand for effective energy storage options. Over the forecast period, it is anticipated that use of the lithium-ion battery as a product type would increase due to consumer electronics' rising appeal all over India. The market is expanding due to the high demand for wearable electronics like fitness bands as well as LCDs, smartphones, tablets, and other portable electronics. Due to increased efficiency, cost-effectiveness, and product innovation brought about by technological advancements, the market is anticipated to experience significant growth. Future opportunities for India's lithium-ion battery market are likely to arise from the country's growing lithium-ion battery recycling activities, which are anticipated to secure the supply of raw materials like lithium and cobalt and reduce the reliance on extracting and refining materials from mineral resources.
The increased integration of electronics is the main market driver for batteries. The expansion of the market is also facilitated by rising transportation demand. Demand for the market is increased by fuel savings and government incentives for cleaner mobility. New hybrid and electric car models from OEMs are another aspect that could speed up the market's expansion.
Popularity of Consumer Electronics
One of the most popular types of high-capacity secondary batteries used in electronic devices like laptops, mobile phones, computers, cameras, and others are lithium-ion batteries. Due to its low-cost, high-power density, and slow self-discharge rate, this battery technology is very well-liked. It is projected that the adoption of various batteries for a variety of consumer electronic devices will raise demand along with the rising demand for consumer electronics across the country. For instance, in the past three years, sales of TVs and computers have grown more quickly than those of smartphones across all consumer electronics categories.
Increasing Technological Developments
The use of various battery-operated equipment has increased across the country as a result of ongoing advancements in battery technology. Numerous features on Hybrid Electric Vehicles (HEV) require sufficient power to operate like GPS navigation system, power windows, a display showing the battery charge level, and air conditioning systems are some of these features.
Impact of COVID-19
The COVID-19 pandemic outbreak in Q1 in 2020 had a big impact on the India battery market expansion. The government's lockdown efforts to restrict the spread of COVID-19 had a negative impact on the country's main shipping lanes for the factories that make lithium-ion and lead-acid batteries. In addition, the disruption of transportation services and travel restrictions brought on by the pandemic's lockdown have had a negative impact on market expansion. For instance, production facilities for vehicle batteries were closed and the supply chain was disrupted, which slowed the market's expansion.
Post COVID-19 the manufacturing of batteries is becoming more automated on the production side because of various technological advancement in manufacturing sector such as artificial intelligence implementation. With the help of these technologies, the factories are able to operate with fewer internal staff members and develop more resistance to wide spread of the virus. Also, consumption of electronics goods, smart wearables, various gadgets increased as compared to COVID era that resulted in the growth of the market.
Impact of Russia-Ukraine War
The Russia-Ukraine war had a significant impact on the battery industry. Russia and Ukraine produce semiconductor & battery materials by a large scale which is directly related to EV & consumer electronics market. The invasion between these two countries directly affects the production facility and supply chain disruption that will impact Russia's export of automotive batteries to India and impacted the trade business of India Battery Market.
1. India Battery Market, By Type
1.1. Non-Rechargeable Battery
1.1.1. Coin Cells Batteries
1.1.2. Alkaline Batteries
1.2. Rechargeable Battery
1.2.1. Lead Acid
1.2.2. Lithium-ion
1.2.3. Nickel Metal Hydride (NiMH)
1.2.4. Nickel Cadmium (Ni-Cd)
1.2.5. Others
2. India Battery Market, By Energy
2.1. Primary Batteries
2.1.1. Upto 100 Wh/kg
2.1.2. 100-200 Wh/kg
2.1.3. More than 200 Wh/kg
2.2. Secondary Batteries
2.2.1. Upto 50 Wh/kg
2.2.2. 50-100 Wh/kg
2.2.3. More than 100 Wh/kg
3. India Battery Market, By Application
3.1. Domestic
3.2. Industrial
3.2.1. Government
3.2.2. Facility Management
3.2.3. Information Communication and Technology
3.2.4. Electronical Equipments
3.2.5. Toys and Entertainment
3.2.6. Automotive
3.2.7. Others
3.3. Agriculture
3.4. Services
4. India Battery Market, By Distribution Channel
4.1. Online
4.2. Offline
4.2.1. Original Equipment Manufacturers
4.2.2. Channel Partners
4.2.3. Departmental Stores
4.2.4. Supermarkets/Hypermarkets
4.2.5. Others
5. India Battery Market, By Region
5.1. East
5.2. West & Central
5.3. North
5.4. South
Key Player Landscape and Outlook
Strategic long-term alliances and contracts are expected to play a vital role in maximising the revenue share of commercial companies. Additionally, because of the rising demand, players are emerging from established markets, Amara Raja Batteries Ltd (Amaron), Duracell Inc., Toshiba India Private Limited, HBL Power Systems Limited, Panasonic Energy India Company Ltd, Luminous Power Technologies Pvt. Ltd., Su-Kam Power Systems Ltd., Okaya Power Pvt. Ltd., Indo National Limited (Nippo), Exide Industries Ltd. are some of the key players dominating the market.
Amara Raja inaugurated the nation's technology centre in February 2021 to create lithium-ion batteries at its Tirupati site in Andhra Pradesh.
Key Players Operating in India Battery Market
1. Amara Raja Batteries Ltd (Amaron)
2. Duracell Inc.
3. Toshiba India Private Limited
4. HBL Power Systems Limited
5. Panasonic Energy India Company Ltd
6. Luminous Power Technologies Pvt. Ltd.
7. Su-Kam Power Systems Ltd.
8. Okaya Power Pvt. Ltd.
9. Indo National Limited (Nippo)
10. Exide Industries Ltd.
1. Research Methodology
2. Product Overview
3. Impact of COVID-19 on India Battery Market
4. Impact of Russia-Ukraine War on India Battery Market
5. Executive Summary
6. Voice of Customer
6.1 Brand Awareness and Loyalty
6.2 Product/Market Knowledge
6.3 Factors Considered in Purchase Decision
6.3.1 Quality
6.3.2 Price
6.3.3 Purpose
6.3.4 Quantity
6.3.5 Reviews and Recommendations
6.3.6 Ease of Access to the Product
6.3.7 After-Sales
6.4 Demographics
6.5 Planned v/s Intended Purchaser
6.6 Frequency of Purchase
6.7 Channel of Purchase
7. India Battery Market Outlook, FY2017-FY2031F
7.1 Market Size & Forecast
7.1.1 By Value
7.1.2 By Volume
7.2 Market Share & Forecast
7.2.1 By Type
7.2.1.1 Primary/Non-Rechargeable Battery
7.2.1.1.1 Coin Cells Batteries
7.2.1.1.2 Alkaline Batteries
7.2.1.2 Secondary/Rechargeable Battery
7.2.1.2.1 Lead Acid
7.2.1.2.2 Lithium-ion
7.2.1.2.3 Nickel Metal Hydride (NiMH)
7.2.1.2.4 Nickel Cadmium (Ni-Cd)
7.2.1.2.5 Others
7.2.2 By Energy
7.2.2.1 Primary Batteries
7.2.2.1.1 Upto 100 Wh/kg
7.2.2.1.2 100-200 Wh/kg
7.2.2.1.3 More than 200 Wh/kg
7.2.2.2 Secondary Batteries
7.2.2.2.1 Upto 50 Wh/kg
7.2.2.2.2 50-100 Wh/kg
7.2.2.2.3 More than 100 Wh/kg
7.2.3 By Application/End-User
7.2.3.1 Domestic
7.2.3.2 Industrial
7.2.3.2.1 Government
7.2.3.2.2 Facility Management
7.2.3.2.3 Information Communication and Technology
7.2.3.2.4 Electronical Equipments
7.2.3.2.5 Toys and Entertainment
7.2.3.2.6 Automotive
7.2.3.2.7 Others
7.2.3.3 Agriculture
7.2.3.4 Services
7.2.4 By Distribution Channel
7.2.4.1 Online
7.2.4.2 Offline
7.2.4.1.1 Original Equipment Manufacturers
7.2.4.1.2 Channel Partners
7.2.4.1.3 Departmental Stores
7.2.4.1.4 Supermarkets/Hypermarkets
7.2.4.1.5 Others
7.2.5 By Region
7.2.5.1 East
7.2.5.2 West & Central
7.2.5.3 North
7.2.5.4 South
7.2.6 By Company Market Share (%), FY2023
8. India Battery Market Mapping, FY2023
8.1 By Type
8.2 By Energy
8.3 By Application/End-User
8.4 By Distribution Channel
8.5 By Region
9. Macro Environment and Industry Structure
9.1 Value Chain Analysis
9.2 Supply Demand Analysis
9.3 Import Export Analysis
9.4 Porter's Five Force Analysis
9.4.1 Threat of Substitutes
9.4.2 Threat of New Entrant
9.4.3 Bargaining Power of Suppliers
9.4.4 Bargaining Power of Suppliers
9.4.5 Intensity of Competitive Rivalry
9.5 PESTEL Analysis
9.5.1 Political Framework
9.5.2 Environmental Impact
9.5.3 Social Factors
9.5.4 Technological Advancements
9.5.5 Economic Review
9.5.6 Legal Policies and Regulatory Bodies
10. Price Analysis for Top Five Market Players
11. Market Dynamics
11.1 Growth Drivers
11.2 Growth Inhibitors
12. Market Trends & Developments
13. Case Studies
14. Competitive Landscape
14.1 SWOT Analysis of Top Five Market Leaders
14.1.1 Core Competence and Key Value Proposition
14.1.2 Areas of Improvement
14.1.3 Untapped Scope of Business
14.1.4 Market Value Proposed by Competitors
14.2 Competition Matrix of Top Five Market Leaders
14.3 Market Revenue Analysis of Top Five Market Leaders (in %, 2023)
14.4 Mergers & Acquisitions (If Applicable)
14.5 Patent Analysis (If Applicable)
15. Competition Outlook
15.1 Amara Raja Batteries Ltd (Amaron)
15.1.1 Company Details
15.1.2 Key Management Personnel
15.1.3 Products & Services
15.1.4 Financials (As reported)
15.1.5 Key Market Focus & Geographical Presence
15.1.6 Recent Developments
15.2 Duracell Inc.
15.3 Toshiba India Private Limited
15.4 HBL Power Systems Limited
15.5 Panasonic Energy India Company Ltd
15.6 Luminous Power Technologies Pvt. Ltd.
15.7 Su-Kam Power Systems Ltd.
15.8 Okaya Power Pvt. Ltd.
15.9 Indo National Limited (Nippo)
15.10 Exide Industries Ltd.
*Companies mentioned above DO NOT hold any order as per market share and might change during course of research work or client's requirements
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