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, according to Frost and amp; Sullivan. The global research and consulting firm also noted that cost, reliability and after-sales support will be key competitive factors going ahead.
In its latest analysis of the Indian Stationary Industrial Battery Market, said that the market earned revenues of ` 11,564 crore in Indian financial year (FY) 2013 and estimates this to reach ` 16,043 billion by 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 and 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 the SIB market potential.
The slowdown in Indian economy hindered investment flow in infrastructure, and various e-governance projects, thereby affecting the SIB market. The uninterrupted 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 firm.
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 energise innovation in the Indian SIB market.
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