I n d i a I nve r te r B a t te r y M a r ke t By Ty p e, By A p p l i c a t i o n , Co m p e t i t i o n Fo re c a s t & Opportunities, 2013-2023
Published: June, 2018
Market Intelligence . Consulting
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.
Inverter Battery Brands in Use
4.2.
Factors Considered Before Purchase
4.3.
Brand Awareness: Unaided
4.4.
Brand Awareness: Aided
4.5.
Brand Satisfaction Level
India Inverter Battery Market Outlook 5.1.
5.2.
5.3.
Market Size & Forecast 5.1.1.
By Value
5.1.2.
By Volume
Market Share & Forecast 5.2.1.
By Type (Renewable and Non-Renewable)
5.2.2.
By Application (Residential, Commercial, and Industrial)
5.2.3.
By Region (North, South, East, and West)
5.2.4.
By Company
Market Attractiveness Index 5.3.1.
By Type (Renewable and Non-Renewable)
5.3.2.
By Application (Residential, Commercial, and Industrial)
5.3.3.
By Region (North, South, East, and West)
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Ta b l e o f C o n t e n t s S. No. 6.
Contents India Residential Inverter Battery Market Outlook 6.1.
6.2.
7.
6.1.1.
By Value
6.1.2.
By Volume
Market Share & Forecast 6.2.1.
By Type
6.2.2.
By Region
6.2.3.
By Company
India Commercial Inverter Battery Market Outlook 7.1.
7.2.
8.
Market Size & Forecast
Market Size & Forecast 7.1.1.
By Value
7.1.2.
By Volume
Market Share & Forecast 7.2.1.
By Type
7.2.2.
By Region
7.2.3.
By Company
India Industrial Inverter Battery Market Outlook 8.1.
8.2.
Market Size & Forecast 8.1.1.
By Value
8.1.2.
By Volume
Market Share & Forecast 8.2.1.
By Type
8.2.2.
By Region
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Ta b l e o f C o n t e n t s S. No.
Contents 8.2.3.
9.
By Company
Market Dynamics 9.1.
Drivers
9.2.
Challenges
10.
Market Trends & Developments
11.
Price Point Analysis
12.
Policy & Regulatory Landscape
13.
India Economic Profile
14.
Competitive Landscape 14.1.
Competitive Benchmarking
14.2.
Company Profile 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
14.2.10.
Racily Udyog
15.
Strategic Recommendations
16.
About Us & Disclaimer
4 TechSci Research
Product Overview ➢ Battery is a chargeable stationary or mobile energy storage device that converts chemical energy into electrical energy. Major application areas of batteries include automobile, telecom, renewable energy, etc., where direct grid connected power sources are unavailable for electricity generation. Batteries can further be classified 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 Battery Market Landscape
India Inverter Battery Market
Application
Type
Renewable
NonRenewable
Region Residential/ Domestic
North India
Industrial
South India
Commercial
East India West India Source: TechSci Research
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Research Methodology Market Profiling In-depth secondary research was conducted to determine the market size and market share of leading companies in India Inverter Battery market.
Data Collection
Data Filter & Analysis
Research & Intelligence
Actionable Insights
Business Solution
Formulating Questionnaire In order to conduct interviews of industry experts, TechSci Research formulated a detailed questionnaire. Developing List Of Respondents
Identifying Key Opinion Leaders
Questionnaire Design
In-depth Interviews
A Primary Research
List of Inverter Battery manufacturers, industry experts, and consumers was prepared.
Recent Developments
Market Dynamics B Government Desk Policies Research
Data Collection TechSci Research conducted interviews with industry experts and players for data collection and verification.
Market Participants
Key Challenges Growth Drivers
C Company Analysis
Final Conclusion
Data Validation Data obtained as a result of primary and secondary research was validated through rigorous triangulation.
Data Analysis Data was scrutinized using MS-Excel and statistical tools such as Time Series Analysis, etc., to obtain qualitative and quantitative insights about the India Inverter Battery market.
Primary Research
TechSci Internal Database Interviews with Key Opinion Leaders
Secondary Research Company Website Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body, Associations, etc.
6 TechSci Research
Research Methodology
Short term
Optimistic
D1
Short term
Medium term
2023F
2022F
2021F
2020F
2019F
2017
2018E
• Qualitative to quantitative conversion • Assigning weightage to drivers • Statistical evaluation • Developing the actual forecast based on both the cases
Conservative • Market indicators expected to perform at average level during the forecast period • Market expected to slow down with decreasing impact of drivers
2016
D3
2015
D2
XX% CAGR
Long term
XX% + 2% CAGR
D1
XX% + 4% CAGR
D2
Degree of impact
High
Medium
Low
2023F
2022F
2021F
2020F
2019F
2018E
2017
2016
2015
D3 2014
Likely
2013
India Inverter Battery Market
XX% + 4% CAGR
2014
• Market indicators expected to outperform during the forecast period • Market expected to gain traction with increasing impact of drivers
Long term
2013
Forecasting Methodology
Medium term
7 TechSci Research
Research Methodology
OPTIMISTIC
HIGH
4.8%
LIKELY 4.6%
4.5%
Factor 2
EXPECTED
Factor 1
4.7%
This scenario is characterized by moderate impact of economic and market growth factors on India Inverter Battery market
CONSERVATIVE
4.4%
4.3%
LOW
GROWTH FACTOR
This scenario is characterized by higher impact of economic and market growth factors on India Inverter Battery market
In this scenario impact of economic as well as market growth factors is comparatively very low on India Inverter Battery market
Factor 3
IMPACT OF GROWTH DRIVERS
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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.
APPROACH & SOURCES: 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 Companies 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 Sources Central Electricity Authority
Ministry of Statistics & Programme Implementation
Ministry of Housing & Urban Poverty Alleviation
International Monetary Fund
World Bank
Company Websites & Investor Presentation
9 Ministry of Power
News Article TechSci Research
Research Methodology The study has been carried out considering various aspects of the India Inverter Battery market. ➢ 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 extract data for India Inverter Battery market study, primary research surveys were conducted 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 Inverter Battery market. Taking into consideration factors such as technological advancements, 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.
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Industry Brief 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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Sample Data-Snapshot Brand Satisfaction Performance
Factors Considered Before Purchase (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
Consumption, 2012-2017 (Mega Joule)
28:
India
Commercial
Inverter
Battery
Market Share, By Region, By Value, 2013-2023F
Figure
23:
India
Residential
Inverter Battery Market Share, By Company, By Value, 2017 & 2023F
40.00%40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%
2012
2013
2014
2015
2016
2017
Others, 10.00 %
Figure 19: Budget Allocation for Housing & Urban Affairs, FY2018-FY2019 Others,‌
Government residential and non-residential buildings, 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), 10.00%
SBM (Urban), 10.00%
AMRUT, 10.00%
Exide Industries Limited, 10.00%
Smart Cities,‌
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%
2013
2014
2015
2016
2017
2018E 2019F 2020F 2021F 2022F 2023F
Northern Region
Southern Region
2017
HBL Power Systems Ltd., 10.00%
Luminous Power Technologies Pvt. Ltd., 10.00%
Amara Raja Batteries Limited, 10.00%
Source: XXXXX Note: These are dummy figures; please purchase our report for actual data
12 TechSci Research
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About Us & Disclaimer
About Us : TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-bystate basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
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Disclaimer : The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.
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