A lead-acid battery is the most vividly used battery which also appears to be the oldest type of rechargeable battery. These batteries are constructed with plates that are made of pure lead or lead oxide electrodes, whereas sulfuric acid is used as the electrolyte. The negative electrodes are made up of metallic lead with minor traces of antimony, tin, and calcium. The positive electrodes on the other hand are made with lead oxides in various companies. These lead-acid batteries also are maintenance-free and contain a negligible amount of antimony in the grid alloy. Such batteries give a higher voltage that too at low costs and thus are usually used in power stations and substations.
Related project: – Lead Acid Battery Manufacturing Industry
Why Lead Acid Battery Manufacturing is a Good Choice for Your Business?
A lead-acid battery is one of the most commonly and widely used batteries available in the market. These batteries are high in demand and have been estimated overall market size of INR 27,000 crore in India by the IESA, between the years 2015 – 2016.
Lead batteries are used in vast quantities in stationary and motive applications. Thus, the share market of lead-acid batteries in the field of stationary and motive application has increased to INR 12,650 crore. The market for lead-acid batteries in these areas is indicating chances of even more rapid growth, specifically due to the governmental pull and increase in its demand from the consumers’ side too.
The lead-acid batteries in the market account for a 60 % share of UPS and computer applications. A growth of 7 % – 8 % is being expected in the future specifically in the use of lead-acid batteries in the home inverter segment. This is specifically due to the high as well as increasing demand for appliances like home inverters, computers as well as UPS which are being used continually in the IT offices and data center which is growing at a fast rate.
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India has witnessed an incredible increase in the per capita income as a result of which an increase has been noticed in the sales of automobiles, specifically two and four-wheelers. This was due to the improved disposable income and has now surged the demand for SLI batteries. Thus, after the automotive industry, the automobile industry accounts for a high market share in the Lead-acid battery market which witnessed a growth of over 20 % during the years 2011 – 2018.
The lead-acid battery market is expected to become one of the fast-growing sectors in the future especially due to the recognition of electronic vehicles (EV) and their environment-friendly nature. The National Electric Mobility Mission and Incentive for Electric Vehicles launched by the government of India are hinting at the sector of the lead-acid battery as a rapidly growing segment in the future. The lead-acid battery market is going to be the highest growing market estimating the growth of about 40 % between the years 2016 and 2020.
Another very promising area of venture in the lead-acid battery market is the use of the lead-acid battery in the private segment and government premises too. Private segments include the areas like resorts, hostels, golf courses, and so on. Besides, the government premises like railways, airports, bus terminals, and so on are also areas contributing to the growth of the lead-acid battery market due to its use in these areas.
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Conclusion
The project report on the lead-acid battery market by Niir Project Consultancy Services (NPCS) provides all the essential details about this market. The detailed report of the lead-acid battery market by NPCs gives you all the information about the current and future market scenario.
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