Press release from Business Wire India
Source: Frost & Sullivan
Thursday, December 26, 2013 11:52 AM IST (06:22 AM GMT)
Editors: General: Economy; Business: Business services, Energy companies; Technology
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Escalating Need for Backup Power Fuels Indian Stationary Industrial Battery Market, Finds Frost & Sullivan
Cost, reliability and after-sales support are key competitive factors
Mumbai, Maharashtra, India, Thursday, December 26, 2013 -- (Business Wire India) -- The widening demand-supply gap in electricity is powering the stationary industrial battery (SIB) market in India. Delay in the setting up of new power plants due to land unavailability coupled with slow environmental clearances and fuel shortage has led to a surge in SIB installations in the country.
New analysis from Frost & Sullivan (http://www.powersupplies.frost.com), Analysis of the Indian Stationary Industrial Battery Market, finds that the market earned revenues of INR 115.64 billion in Indian financial year (FY) 2013 and estimates this to reach INR 160.43 billion in FY 2018. The market is dominated by lead acid batteries while other battery technologies (Lithium Ion, flow batteries) are in their early stage.
"The increasing requirement for backup batteries in critical equipment and processes is giving a boost to the SIB market," said Frost & Sullivan Energy and Environmental Analyst. "Demand for backup power is expected to further intensify with growth in IT/IT-enabled services and the banking, financial services and insurance (BFSI) network as well as automated teller machine development, rising automation across business enterprises, and burgeoning enterprise solutions."
The focus on renewable energy, especially solar, will drive the need for storage capacity, broadening the potential of the industrial battery market. However, improving awareness among Indian customers regarding alternative storage technologies such as flywheels, fuel cells and ultra capacitors may rein in SIB market potential.
The slowdown in Indian economy hindered investment flow in infrastructure, and various e-governance projects, thereby, affecting the SIB market. The uninterruptible power supply and telecom end-user segments, in particular, have witnessed a decrease in demand.
"Pricing pressures on participants will only increase as new players enter the market and existing suppliers expand operations and diversify product portfolios," noted the Analyst.
To succeed, SIB suppliers must maintain their cost advantage and try to gain market share by improving sales and services delivery, and investing in research and development. Emphasis on nickel-cadmium, lithium-ion, and flow batteries, in particular, will energize innovation in the Indian SIB market.
If you are interested in more information on this study, please send an e-mail to Ravinder Kaur / Priya George, Corporate Communications, at ravinder.kaur@frost.com / priyag@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.
Analysis of the Indian Stationary Industrial Battery Market is part of the Power Supplies & Batteries Growth Partnership Service program. Frost & Sullivan's related studies include: Global Military Battery Market, Global Industrial Batteries Market, and Global Uninterruptible Power Supplies Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the Indian Stationary Industrial Battery Market
P747-27
CONTACT DETAILS
Ravinder Kaur, Corporate Communications - South Asia, Frost & Sullivan, +91 (44) 66814413, ravinder.kaur@frost.com
Priya George, Corporate Communications - South Asia, Frost & Sullivan, +91 9840355432 / +91 (44) 66814414, priyag@frost.com
Nimisha Iyer, Corporate Communications - South Asia, Middle East & North Africa, Frost & Sullivan, +91 9820050519 / +91 (22) 66072007, niyer@frost.com
KEYWORDS
ECONOMY, BUSINESS SERVICES, ENERGY, TECHNOLOGY
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