Battery maker Exide Industries today said it is looking to increase its share in the domestic UPS cell market to over 50 per cent in a year and a half, on the back of new launches.
The company, which currently claims around 42 per cent share in the 30 lakh units annual UPS battery market, said it would launch 2-3 new products in the industrial segment next fiscal.
"With new products using the latest technology from our R&D centre, we are looking aggressively at increasing our market penetration. Our target is to cross the 50 per cent share in the Indian UPS battery market within next year and half," Exide Industries Executive Vice-President Industrial (Sales and Marketing) Subir Chakraborty told reporters here.
The company today launched its premium range of Powersafe NXT batteries which have faster recharge quality.
"The new battery is basically targeted at consumers who face longer power outages and further extends our Powersafe range. We believe the new product will boost our sales," Chakraborty said, adding that the company will launch 2-3 new models next fiscal.
The Rs 4,000-crore company currently operates eight facilities across the country and manufacturers batteries for both industrial and automotive uses.
"After a slight decline during the last year, the battery market is again picking up and we expect it to once more regain the 15-20 per cent annual growth that was the norm earlier. We want to capitalise on the momentum," he added.
