Are lead-acid batteries the future of energy storage in India?

As India continues to invest in its renewable energy infrastructure, the demand for energy storage solutions that utilize lead-acid batteries is likely to grow. The expansion of the renewable energy market is also encouraging the development of hybrid systems, which combine solar power with lead-acid batteries for backup.

What is the lead acid battery market share in India?

Transportation has dominated the India lead acid battery market Share in terms of application owing to the large population of the country and the rising Indian automobile sector. About 22 million units of vehicles were produced in FY 2021 in the country which has augmented the lead-acid battery market in India.

What are the main drivers for lead acid battery in India?

The main drivers for lead acid battery in India are rising urbanization and increased focus on EVs by the government. Although, the Covid-19 outbreak resulted in a significant decline in the lead acid market on the back of the falling commercial sector in India during 2020 and the decline in automobile production.

What is the demand for lead-acid batteries in India?

With the rapid expansion of both the passenger and commercial vehicle markets, the demand for lead-acid batteries has seen significant growth. India is one of the largest automotive markets globally, and its automotive production is increasing each year, driven by both domestic consumption and export potential.

Are lead-acid batteries cheaper than lithium-ion batteries in India?

Lead-acid batteries in India are approximately 30–50% cheaper upfront compared to lithium-ion batteries, making them the preferred choice for budget-conscious consumers and industries, especially in rural and semi-urban markets. Download Free Sample Report Key Market Challenges Environmental and Health Concerns

Why is lead-acid battery recycling important in India?

Lead-acid battery manufacturers in India are increasingly investing in closed-loop recycling systems, which allow for the efficient recovery of lead, sulfuric acid, and other materials for reuse in new batteries. Additionally, consumers and businesses are becoming more conscious of the environmental impact of the products they use.