Project report for Lead Acid Storage Batteries

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Introduction

In India, Lead Acid Storage Battery Market is Increasing due to the growing demand from the telecommunication and data centers, coupled with the increasing applications in industries, such as railways, are expected to drive the market. A lead acid battery is an energy storage device that is used extensively in automotive, energy storage, and telecommunication industries and for several other purposes in various sectors, such as utilities, marine, manufacturing, and chemical & pharmaceutical industries.Increasing demand from the telecommunication and data center applications are expected to drive the India lead-acid battery market growth during the forecast period. Exide is one of the most trusted battery makers in India. The tubular plate design of the battery is best suited for deep discharge. The battery is designed with thicker plates with about 20% more electrolytes, thereby giving it an edge over the other batteries available in the market.

A lead storage battery, also known as a lead-acid battery, is the oldest type of rechargeable battery and one of the most common energy storage devices. Compared to later types of rechargeable batteries, Lead-Acid batteries have the lowest energy density. Despite this, its ability to supply high surge currents means that the cells have a relatively large power-to-weight ratio. These features, along with their low cost, make them attractive for use in motor vehicles to provide the high current required by starter motors. As they are inexpensive compared to newer technologies, lead-acid batteries are widely used even when surge current is not important and other designs could provide higher energy densities.

Market potential & Strategy

The global lead acid battery market is projected to reach INR 39, 210 Crores by 2024 from an estimated INR 31, 080 crores in 2019, at a CAGR of 4.7% during the forecast period. The booming telecommunication sector and expanding data industry, require a cost-effective battery storage solution to provide for backup power is expected to be the most significant catalyst driving the development of this market. Lead acid batteries are used widely across industries. The market has been segmented, by end-user, into utility, transportation, industrial, and commercial & residential. The transportation segment dominated the market in 2018 and is expected to lead the lead-acid battery market during the forecast period. This is primarily because these batteries are cost-effective and are preferred for the installation in internal combustion vehicles for SLI applications. The lead acid battery market has been segmented by type, stationaries and motive. This segmentation is based on the nature of the application in which the battery unit is being used. A lead acid battery is most commonly used because of its cost-effectiveness. The nature of this battery impacts the applications in which it is being used and also the kind of users that are implementing the same. The global lead–acid battery industry is growing significantly across the globe and it is likely to register a CAGR of 5.2% during the forecast period. Some of the factors that surge the demand for lead–acid batteries are growing SLI applications in the automotive industry, growth in renewable energy production, and high demand for energy storage devices.

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