I n d u s t r y B r i e f
Exide Industries to Continue its Dominance in India Inverter Battery Market through 2023
I n d u s t r y B r i e f
Exide Industries to Continue its Dominance in India Inverter Battery Market through 2023
According to recently published TechSci Research report“ India Inverter Battery Market By Type, By Application, Competition Forecast & Opportunities, 2013- 2023’’, India inverter battery market is projected to reach $ 1.86 billion by 2023 on account of growing residential sector and rising number of initiatives being taken under the government’ s‘ Make in India’ program. Moreover, increasing demand for inverter batteries from tier 1 and tier 2 cities is likely to steer growth in the country’ s inverter battery market over the next five years. In 2017, Exide Industries Limited accounted for the largest share in India inverter battery market, followed by Luminous Power Technologies Pvt. Ltd. and Amara Raja Batteries Limited. Exide Industries is likely to maintain its dominance through the forecast period as well.
In 2017, residential sector accounted for the largest application share in India inverter battery market and the segment is likely to maintain its dominance during the forecast period. On the basis of type, India inverter battery market is segmented into renewable and non-renewable type, of which, non-renewable type of inverter batteries accounted for the major revenue share in the market in 2017. As per the regional analysis of India inverter battery market, North region grabbed the highest market share in value terms over the last five year, and the region is anticipated to be the largest regional inverter battery market over the next five years as well.
“ By 2020, housing sector in India is expected to contribute around 11 % to India’ s GDP. Moreover, private equity investments in real estate are projected to grow to USD100 billion( INR6.7 trillion) by 2026 with Tier I and II cities being the prime beneficiaries. Technological advancements for the use of intelligent hybrid inverter batteries in energy deficit regions in India is likely to provide better energy storage solutions in the foreseeable future. All of these factors are expected to culminate into robust growth in the country’ s inverter battery market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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TechSci Research