Emergence of new data transmission technologies such as 4G would require upgradation of technological infrastructure such as establishment of new telecom towers, etc. This is projected to buoy growth in India’s battery industry in the coming years, as batteries form an integral part of operational telecom towers and associated infrastructure.
According to Indian Television, ‘Research and Market’ has recently released a report “India Battery Market by Application, Competition Forecast and Opportunities, 2011-2022.” The battery market in India is projected to reach US$ 8.6 billion by 2022, on account of growing demand by automobile and industrial sector, the report stated.
Companies studied in the report include Amara Raja Batteries, Base Corporation Limited, Exide Industries, HBL Power Systems, Luminous Power Technologies, Okaya Power, Samsung SDI CO., Southern Batteries, SU-Kam Power, and TATA Autogroup GY Batteries.
The battery market in India is mainly driven by growth in Power sector, surging transportation needs, increasing battery integration in consumer electronics and rising fuel saving initiatives. In India several government measures such as promotion of solar power and clean fuel based automobile technologies are anticipated to propel demand for batteries in the countries over the course of next five years. Moreover, rising investment in infrastructure developments coupled with growing telecom sector is projected to bolster growth in the country’s battery market during 2017-2022.
