Battery industry to see upsurge in replacement market in near future

Battery makers are expecting replacement demand to drive immediate recovery in the industry once the Covid-19 lockdown is lifted, even though dwindling auto sales may have a medium- to long-term impact on their top lines. While the pandemic will hit the electric vehicle sector immediately, it may also help the industry to come out with innovations eventually, an industry major said.

Amid almost muted auto sales post lockdown, marginal growth is expected in the lead acid battery (LAB) segment, driven by the upsurge in aftermarket demand for replacement of old and discharged batteries, says a report by Emkay Global.

"The LAB segment’s