I n d i a I n ve ve r t e r B a t t e r y M a r k e t B y T y p e , B y A p p l i c a t i o n , C o m p e t i t i o n Fo Fo r e c a s t & O p p o r t u n i ti ti e s , 2 0 1 3 - 2 0 2 3
Ta b l e o f C o n t e n t s S. No.
Contents
1.
Product Overview
2.
Research Methodology
3.
Analyst View
4.
Voice of Customer
5.
4.1.. 4.1
Invert Inv erter er Bat Batter tery y Bra Brands nds in Use
4.2.. 4.2
Factor Fac tors s Con Consid sidere ered d Bef Before ore Pur Purcha chase se
4.3. 4. 3.
Bran Br and d Aw Awar aren enes ess: s: Un Unai aide ded d
4.4. 4. 4.
Bran Br and d Aw Awar aren enes ess: s: Aid Aided ed
4.5. 4. 5.
Bran Br and d Sa Sati tisf sfac actio tion n Le Leve vell
Ind ndia ia In Inve vert rte er Ba Batte tery ry Ma Mark rke et Ou Outl tloo ook k 5.1.. 5.1
5.2.. 5.2
5.3.. 5.3
Market Mar ket Size & For Foreca ecast st 5.1. 5. 1.1. 1.
By Va Valu lue e
5.1. 5. 1.2. 2.
By Vo Volu lume me
Market Mar ket Sha Share re & For Foreca ecast st 5.2.1.. 5.2.1
By Type (Renew (Renewable able and Non-Re Non-Renewabl newable) e)
5.2.2.. 5.2.2
By Applica Application tion (Resid (Residential, ential, Comme Commercial, rcial, and Indus Industrial) trial)
5.2.3.. 5.2.3
By Region (Nort (North, h, South South,, East East,, and West)
5.2. 5. 2.4. 4.
By Co Comp mpan any y
Market Mar ket Att Attra ractiv ctivene eness ss Ind Index ex
Ta b l e o f C o n t e n t s S. No. 6.
Contents Indi In dia a Resi Reside dent ntia iall Inve Invert rter er Bat Batte tery ry Ma Mark rket et Ou Outl tloo ook k 6.1.. 6.1
6.2.. 6.2
7.
6.1. 6. 1.1. 1.
By Va Valu lue e
6.1. 6. 1.2. 2.
By Vo Volu lume me
Market Mar ket Sha Share re & For Foreca ecast st 6.2. 6. 2.1. 1.
By Ty Type pe
6.2. 6. 2.2. 2.
By Re Regi gion on
6.2. 6. 2.3. 3.
By Co Comp mpan any y
Indi In dia a Comm Commer erci cial al Inv Inver erte ter r Bat Batte tery ry Ma Mark rket et Ou Outl tloo ook k 7.1.. 7.1
7.2.. 7.2
8.
Market Mar ket Size & For Foreca ecast st
Market Mar ket Size & For Foreca ecast st 7.1. 7. 1.1. 1.
By Va Valu lue e
7.1. 7. 1.2. 2.
By Vo Volu lume me
Market Mar ket Sha Share re & For Foreca ecast st 7.2. 7. 2.1. 1.
By Ty Type pe
7.2. 7. 2.2. 2.
By Re Regi gion on
7.2. 7. 2.3. 3.
By Co Comp mpan any y
Indi In dia a Ind Indus ustr tria iall Inve Invert rter er Ba Batt tter ery y Mar Marke kett Out Outlo look ok 8.1.. 8.1
Market Mar ket Size & For Foreca ecast st 8.1. 8. 1.1. 1.
By Va Valu lue e
8.1. 8. 1.2. 2.
By Vo Volu lume me
Ta b l e o f C o n t e n t s S. No.
Contents 8.2. 8. 2.3. 3.
9.
By Co Comp mpan any y
Market Dynamics 9.1. 9. 1.
Driv Dr iver ers s
9.2. 9. 2.
Chal Ch alle leng nges es
10.
Mark Ma rket et Tr Tre ends & De Deve velo lopm pme ent nts s
11.
Price Point Analysis
12.
Pol olic icy y & Reg egu ula lato tory ry La Lan nds dsca cap pe
13.
India Economic Pr Profile
14.
Competitive La Landscape 14.1. 14. 1.
Compet Com petitiv itive e Ben Benchm chmar arking king
14.2. 14. 2.
Compan Com pany y Pro Profile file 14.2.1.
Exide Industries Limited
14.2.2.
Luminous Power Technologies Pvt. Ltd.
14.2.3.
Amara Raja Batteries Limited
14.2.4.
HBL Power Systems Limited
14.2.5.
Southern Batteries Private Limited
14.2.6.
V-Guard Industries
14.2.7.
Okaya Power Private Limited
14.2.8.
Su-Kam Power Systems Limited
14.2.9.
Base Corporation Limited
Product Overview ➢ Battery
is a chargeable stationary or mobile energy storage device that converts chemical energy into electrical
energy.. Major application energy application areas of batteries include automo automobile, bile, telecom, renewable energy, etc., where direct grid connected power source sources s are unavailable for electr electricity icity generation. Batteries Batteries can further be classif classified ied into primary and secondary batteries. ➢ There
are two types of batteries:
Renewable:
These are the batteries that are integrated with solar or wind plants for electricity storage
and can be used as a source of energy. Non-Renewable:
These are the batteries that are used in homes for providing power and are connected
directly to the gridlines. India Inverter Inverter Battery Battery Market Landscape Landscape
India Inverter Battery Market
Application
Type
Renewable NonRenewable
Region Residential/ Domestic
North India
Industrial
South India
Commercial
East India
Research Methodology
Market Profiling In-depth In-dept h sec second ondary ary res resear earch ch was con conduc ducted ted to determine the market size and market share of lead le ading ing co compa mpanie nies s in In India dia In Inve vert rter er Ba Batt tter ery y market.
Data Collection
Data Filter & Analysis
Research & Actionable Intelligence Insights
Business Solution
Formulating Questionnaire In or orde derr to co cond nduc uctt in inte terv rvie iews ws of in indu dust stry ry experts, TechSci Research formulated a detailed questionnaire.
Identifying Key Opinion Leaders
Questionnaire Design
In-depth Interviews
A Primary Research
Developing List Of Respondents List of Inverter Battery manufacturers, industry experts, and consumers was prepared.
B Desk Research
Data Collection TechSci Tech Sci Re Rese sear arch ch co cond nduc ucte ted d in inte terv rview iews s wit with h industry indust ry experts and player players s for data collect collection ion and verification.
Market Participants
Key Challenges
Growth Drivers
C Company Analysis
Recent Developments
Market Dynamics
Government Policies
Final Conclusion
Data Validation Data obt Data btai aine ned d as a res esul ultt of pr prim imar ary y an and d seco se cond ndar ary y re rese sear arch ch was was va vali lida date ted d th thro roug ugh h rigorous triangulation. Data Analysis Data was scrutinized using MS-Excel and statistical
Primary Research TechSci
Internal Database Interviews with Key Opinion Leaders
Secondary Research Company Company
Website Annual
Reports Paper Study
White
Research Methodology
Short term
Optimistic Forecasting Methodology
•
•
Market indicators expected to outperform during the forecast period Market expected to gain traction with increasing impact of drivers
Medium term
Long term
XX% + 4% CAGR
D1
D2 3 1 0 2
D3 XX% CAGR •
•
India Inverter Battery Market
Conservative • •
•
Market indicators expected to perform at average level during the forecast period Market expected to slow down with decreasing impact of drivers
•
Short term
Medium term
Long term
4 1 0 2
5 1 0 2
6 1 0 2
7 1 0 2
E 8 1 0 2
F 9 1 0 2
F 0 2 0 2
F 1 2 0 2
F 2 2 0 2
F 3 2 0 2
Qualitative to quantitative conversion Assigning weightage to drivers Statistical evaluation Developing the actual forecast based on both the cases
XX% + 2% CAGR
D1
XX% + 4% CAGR
D2
Likely
D3 3 1 0 2
4 1 0 2
5 1 0 2
6 1 0 2
7 E F F 1 8 9 0 0 1 1 2 2 0 0 0 2 2 2
F 1 2 0 2
F 2 2 0 2
F 3 2 0 2
Research Methodology
OPTIMISTIC
4.8%
GROWTH FACTOR
Factor 1
4.7%
LIKELY 4.6%
4.5%
Factor 2
D E T C E P X E
This sce This scenar nario io is cha charac racter terized ized by mod modera erate te impact of economic and market growth factors on India Inverter Battery market
CONSERVATIVE
4.4%
4.3%
Factor 3
H G I H
This scenario is characterized by higher impact of economic and market growth factors on India Inverter Battery market
W O L
In this scenario impact of economic as well as market mark et growt growth h facto factors rs is compa comparative ratively ly very low on India Inverter Battery market
Research Methodology OBJECTIVE: The primary objective of the study is to analyze and forecast the India Inverter Battery market, and identify the market share by type, by application, by region, by capacity and by company. Moreover, an in-depth study of Inverter Battery market was conducted, and major companies operating in India Inverter Battery market were profiled.
APPR AP PROA OACH CH & SO SOUR URCE CES: S: In order to extract, analyze and project the India Inverter Battery market, both topdown and bottom-up approaches were used. Multiple employees from following companies and organizations were interviewed through telephonic as well as face-to-face meetings in order to extract and verify collected information. Partial List of C ompanies and Organizations Interviewed Exide Industries Limited
V-Guard Industries
Amara Raja Batteries Limited
Luminous Power Technologies Pvt. Ltd.
HBL Power Systems Limited
Su-Kam Power Systems Limited
Southern Batteries Private Limited
Okaya Power Private Limited
Base Corporation Limited
Racily Udyog
TechSci Research has scrutinized various published documents from following key sources to fill data gaps and verify information collected through primary research surveys. Partial List of Secondary Secondary Sources Cent Ce ntra rall El Elec ectr tric icit ity y Au Auth thor orit ity y
Mini Mi nist stry ry of St Stat atis isti tics cs & Pr Prog ogra ramm mme e Im Impl plem emen enta tati tion on
Mini Mi nis str try y of Hou ous sin ing g & Ur Urba ban n Po Pove verrty All llev evia iattio ion n
Int nter erna nati tion onal al Mo Mone neta tarry Fu Fund nd
Research Methodology The Th e st stud udy y ha has s be been en ca carr rrie ied d ou outt co cons nsid ider ering ing va vari riou ous s as aspe pect cts s of th the e In Indi dia a In Inve vert rter er Ba Batte ttery ry ma mark rket et.. ➢ In
the beginning of the India Inverter Battery market study, a brief study was conducted to understand each
and every aspect of market outlook such as drivers, challenges, trends and various other major factors which might affect the market. Moreover, an in-depth analysis was conducted to understand the India Inverter Battery market scenario, and gauge the competitive scenario. ➢ Afterwards,
a detailed scrutiny of products offered by inverter battery companies in India was conducted.
Impact of prevailing regulations, macroeconomic conditions and population growth was also considered and assessed.
➢
In order to extrac extractt data for India Inverter Battery market study, primary primary research surveys surveys were conduc conducted ted with key opinion leaders operating in inverter battery market in the country to understand historical and present trends.
➢ Our
dedicated team of industry experts has comprehensively monitored and analyzed various aspects of the
India Ind ia Inv Inverte erterr Bat Batter tery y mar market. ket. Tak Taking ing into con consid sidera eratio tion n fac factors tors suc such h as tec technol hnologic ogical al adv advanc anceme ements nts,, growing population, etc., our team of analysts has provided a prudent analysis of the industry’s performance and forecast a positive outlook for the industry.
Industry Brief Exide Industries to Continue its Dominance in India Inverter Battery Market through 2023 ndiia Invert rte er Battery Ma Mark rke et By Type, By Accord According ing to recent recently ly publishe published d TechS echSci ci Researc Research h report report “Ind ’’, India inverter battery market is projected to Applic App licat ation ion,, Compe Competit tition ion Fore Foreca cast st & Opp Opport ortuni unitie ties, s, 2013 2013 - 2023 2023 ’’, 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 i n 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 Technolog Technologies ies Pvt. Ltd. and Amara Raja Batteries Limited. Exide Industries is likely l ikely to maintain its dominance through the forecast period as well.
In 2017, residential sector accounted accounted for the largest l argest application 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, 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
Sample Data-Snapshot Brand Satisfaction Performance
Factor Factors s Conside Considered red Before Before Purcha Purchase se (Base=X (Base=X) )
Level:
Features
&
Overall
Pricing V-Guard Industries Su-Kam Power Systems Limited
Product Quality
Southern Batteries Private Limited (Hi-Power) Okaya Power Private Limited Luminous Power Technologies Pvt. Ltd.
Warranty
HBL Power Systems Limited
Features & Performa nce
Exide Industries Limited Base Corporation Limited 1
Figure
2
2:
India
3
per
4
Capita
5
Amara Raja Batteries Limited
Energy Figure
Consump Con sumptio tion, n, 2012 2012-20 -2017 17 (Me (Mega ga Jou Joule) le)
28:
India
Commercial
Inverter
Battery
Mark Ma rket et Sh Shar are, e, By Reg Regio ion, n, By Va Valu lue, e, 20 2013 13-2 -202 023F 3F
Figure
23:
India
Residential
Inve In vert rter er Ba Batt tter ery y Ma Mark rket et Sh Shar are, e, By Comp Co mpan any, y, By Va Valu lue, e, 20 2017 17 & 20 2023 23F F
40.00%40.00%40.00%40.00%40.00%40.00%40.00%40.00%40.00%40.00%40.00%
2012
2013
20 14
2 01 5
2 0 16
2 01 7
Figure 19: Budget Allocation for Housing & Urban Affairs, FY2018-FY2019 Others,… Others,…
SBM (Urban), 10.00%
Others, 10.00 %
Exide Industries Limited, 10.00%
30.00%30.00%30.00%30.00%30.00%30.00%30.00%30.00%30.00%30.00%30.00%
Metro, 10.00% Pradhan Mantri Awas Yojana (Urban),
20.00%20.00%20.00%20.00%20.00%20.00%20.00%20.00%20.00%20.00%20.00% Southern Batteries Pvt. 10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00% Ltd., 10.00%
2017
Luminous Power Technologies Pvt. Ltd., 10.00%
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