Battery Manufacturing Business
Business is growing at a splashing rate in India and new large scale manufacturing industries are opening up in different sectors to promote the make in India movement. But a detailed analysis of the market and particularly regarding the cost of establishing a manufacturing or production plant. Should be done by entrepreneurs before putting steps inside the manufacturing business. So we will be focusing on giving a detailed report on battery manufacturing business.
Related Projects:- Battery Projects, Automobile Batteries
All batteries go through similar procedures to create electricity. A battery alters chemical energy directly into electrical energy through an electro-chemical process. This industry manufactures two types of batteries: storage and primary batteries. Storage batteries are also known as secondary or rechargeable batteries. Growths in battery technology have been slow but steady. Battery technology is compound. A small change in a manufacturing limit can lead to a significant change in battery presentation. Witnessing the huge business possible of battery manufacturing, many businesspersons are incoming this field. Significantly, many small and medium initiatives (SMEs) are also trying their luck in this talented and rising sector.
NPCS’ detailed plan report objects to provide you with all the descriptive material required. The following are the essential facts on the price of setting up a battery manufacturing business
- Mandatory Investments – The investment to be made to set up a battery business depends on the bulk of the plant in relations of how many lakhs of ampere-hour batteries are to be produced. It also depends on the product. A company must estimate all the expenses including layout, plant machinery selection and attain, installation and hiring of equipment, design, and growth of the entire range of products with unique features, design, and development of all molds and tools for diverse components and quality standards, and course limitations.
- Advertisement – The cost of installing and completing the equipment would be 10-15 percent of the equipment cost, and the cost of maintaining these machines is normally 2-3 percent of their cost, annually. Venture plans vary dependent on the size of batteries to be fashioned. It can vary from 7 -10 lakhs for a small scale battery manufacturing plant with a limit project range to above 2 crores for a intermediate scale plant. To produce 2,000 batteries per month of 150 ampere-hours 12 volts batteries, an asset of about Rs 30 million is projected.
BATTERY MANUFACTURING BUSINESS MARKET GROWTH IN INDIA(2016-2023)
- Machinery Cost – Buying machines is a long term investment since all technologies have a 10-year lifecycle. Another lead of buying machines locally is that one can be free of any worries about failures and changing standby parts. Costs are negligible except for some serious spares, which are costly. However, by executing preventive maintenance practices, failures can be reduced thereby keeping the overall repairs costs low.
- Other Costs – Before boarding on manufacturing batteries, one should plan financially for the cost of land, labor, machinery, structure like building, lodgings, power, compressed air, packing facilities, material administration equipment such as pallet trucks, cranes equipment. Ideally, a battery plant should be set up in a superior economic zone (SEZ) to avail government exemption From taxes.
ANNUAL MARKET SIZE OF BATTERY MANUFACTURING IN INDIA
|
S.No.
|
Years |
Annual Market Size(in billions) |
|
1.) |
2020 |
20 |
|
2.) |
2019 |
19.5 |
|
3.) |
2018 |
18.8 |
|
4.) |
2017 |
18 |
|
5.) |
2916 |
17.5 |
- Easy funds – Getting a bank loan to start a battery manufacturing plant is quite stress-free. Indian banks give investment for complete developments. State and chief government financial institutions spread credit for numerous necessities. Funding is available for all types of battery manufacturing plants, both large and medium scale. Moreover, reserved and public banks’ financial establishments will give loans to buy imported machinery. Also, efforts should be made to automate the industrial process as this will help achieve advanced volumes corporations to invest more on computerized machines rather than on manual machines.
Related Books:- Automobile Industry, Automotive Components & Allied Products
Thus, batteries are employed in every field of industry, either automotive, plants, agriculture, etc. More than 75% of batteries are manufactured in India and else is imported. So clearly, It can be seen as a huge opportunity for entrepreneurs to earn profit by starting a business n this NPCS’s project consultancy and market research fields put forward the developing scope for battery production business on an industrial scale.
Related Videos;- automobile industry