India Lead Acid Battery Market Size & Outlook, 2023-2030
India lead acid battery market, 2018-2030 (US$M)
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India lead acid battery market highlights
- The India lead acid battery market generated a revenue of USD 5,491.1 million in 2023 and is expected to reach USD 9,594.2 million by 2030.
- The India market is expected to grow at a CAGR of 8.3% from 2024 to 2030.
- In terms of segment, automotive was the largest revenue generating application in 2023.
- Transport Vehicles is the most lucrative application segment registering the fastest growth during the forecast period.
Lead acid battery market data book summary
| Market revenue in 2023 | USD 5,491.1 million |
| Market revenue in 2030 | USD 9,594.2 million |
| Growth rate | 8.3% (CAGR from 2023 to 2030) |
| Largest segment | Automotive |
| Fastest growing segment | Transport Vehicles |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Automotive, UPS, Telecom, Electric Bikes, Transport Vehicles |
| Key market players worldwide | East Penn Manufacturing Co, EXIDE Industries, Johnson Controls International PLC, Northstar Recycling, GS Yuasa Corp, Crown Holdings Inc, Leoch International Technology Ltd |
Other key industry trends
- In terms of revenue, India accounted for 7.3% of the global lead acid battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China lead acid battery market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 9,594.2 million by 2030.
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Lead Acid Battery Market Scope
Lead Acid Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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India lead acid battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lead acid battery market will help companies and investors design strategic landscapes.
Automotive was the largest segment with a revenue share of 67.25% in 2023. Horizon Databook has segmented the India lead acid battery market based on automotive, ups, telecom, electric bikes, transport vehicles covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing standard of living, rapid industrialization and approval of 100% FDI by government will augment market growth. High investment by foreign players including Honda along with Nissan, Ford, and General Motors to manufacture vehicles in the country will aid industry growth over the forecast period.
The predominantly used batteries in automobiles such as passenger cars, commercial cars and motorcycles and implementation of vehicle charging infrastructure with increased installation of renewable energy systems are some of the underlying demand drivers for lead acid battery industry.
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Horizon Databook provides a detailed overview of country-level data and insights on the India lead acid battery market , including forecasts for subscribers. This country databook contains high-level insights into India lead acid battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India lead acid battery market size, by application, 2018-2030 (US$M)
India Lead Acid Battery Market Outlook Share, 2023 & 2030 (US$M)
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