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Data tech, telecom & auto-driven India's battery mkt to reach US$ 8.6bn by '22

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MUMBAI: Emergence of new data transmission technologies such as 4G would require upgradation of technological infrastructure such as establishment of new telecom towers, etc. This is projected to buoy growth in India's battery industry in the coming years, as batteries form an integral part of operational telecom towers and associated infrastructure.

'Research and Markets' has recently released a report "India Battery Market By Application, Competition Forecast & Opportunities, 2011 - 2022." The battery market in India is projected to reach US$ 8.6 billion by 2022, on account of growing demand from automobile and industrial sectors, the report stated.

Companies studied in the report included Amara Raja Batteries, Base Corporation Limited, Exide Industries, HBL Power Systems, Luminous Power Technologies, Okaya Power, Samsung SDI Co., Southern Batteries, Su-Kam Power, and TATA Autocomp Gy Batteries.

The battery market in India is mainly driven by growth in power sector, surging transportation needs, increasing battery integration in consumer electronics and rising fuel saving initiatives. In India, several government measures such as promotion of solar power and clean fuel based automobile technologies are anticipated to propel demand for batteries in the country over the course of next five years. Moreover, rising investments in infrastructure developments coupled with growing telecom sector is projected to bolster growth in the country's battery market during 2017-2022.

Strong growth in domestic production and exports of automobiles, coupled with expanding vehicle fleet is projected to drive demand for batteries from OEMs as well as replacement segments through 2022. Moreover, rising penetration of two-wheelers in semi urban and rural India is projected to surge replacement demand for two-wheeler batteries during the forecast period.

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