NEMMP plans to augment EV demand to 5-7 million by 2020 triggering demand for Li-ion batteries in India

The Indian automotive market witnessed tremendous growth during 2009-12 due to various government initiatives and growing easy loan facilities in the country. The major government measures such as National Automotive Testing and R&D Infrastructure Project (NATRiP), Focus Market Scheme (FMS) and Automotive Mission Plan 2006-16 are further expected to support the sales of passenger cars and commercial vehicles in the country, contributing to the growing demand for automotive batteries. Also, National Electric Mobility Mission Plan, 2020 (NEMMP) targets to augment the demand for electric vehicles to around 5 to 7 million by 2020, which is anticipated to significantly boost the demand for Li-ion automotive batteries market in India, says PRNewswire statement.
Automotive battery market
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Citing a study titled: ‘India Automotive Battery Market Forecast & Opportunities, 2018’, the statement said that the Indian automotive battery market is projected to grow at a CAGR of around 13 percent during 2013-18, in value terms. The key reason can be attributed to the recent launches of Medium Utility Vehicles (MUV) and Sports Utility Vehicles (SUV) such as Renault Duster, Mahindra XUV 5oo, Maruti Suzuki Ertiga and Ford EcoSport, Nissan Evalia and more.
Demand in North India
As a result, the utility vehicles battery market segment is likely to witness the fastest growth in automobile battery market, followed by two wheeler batteries and light commercial vehicle battery market segments, over the next five years. The demand for automotive battery has largely emerged from northern region of India due to increasing automobile sales in various states such as Uttar Pradesh, Delhi and Rajasthan, along with the presence of large automobile manufacturers like Honda Cars India and Tata Motors, noted the statement.
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The ‘India Automotive Battery Market Forecast & Opportunities, 2018’ study further elaborates following aspects related to automobile batteries market expansion in India:
• India Automotive Battery Market Size, Share & Forecast• Segmental Analysis – Batteries in Passenger Cars, Utility Vehicles, Two Wheelers, Three Wheelers, Light Commercial Vehicles, Commercial Vehicles and Tractors• Policy & Regulatory Environment• Changing Market Trends & Emerging Opportunities• Competitive Landscape & Strategic Recommendations
Methodology
The information contained in this study is based upon both primary and secondary sources. Primary research included interviews with automotive battery manufacturers, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, and proprietary databases.
Key players
1. Exide Industries Ltd 2. Amara Raja Automotive Batteries Ltd 3. Su-Kam Power System Limited 4. Bosch Limited 5. Luminous Power Technologies (P) Limited 6. HBL Power Systems Ltd 7. Okaya Power Ltd 8. Base Corporation Limited and 9. Southern Batteries Pvt Ltd.

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