India Electric Vehicle Battery Market Generating Revenue of USD 13,891 Million by 2033, At CAGR of 22.6%

Attributes and Key Statistics of the India Electric Vehicle Battery Market Report by IMARC Group:

• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Years: 2025-2033
• Units: USD Million
• Market Size in 2024: USD 2,215 Million
• Market Forecast in 2033: USD 13,891 Million
• Market Compound Annual Growth Rate 2025-2033: 22.6%

As indicated in the latest market research report published by IMARC Group, titled “India Electric Vehicle Battery Market Report by Battery Type (Lithium-Ion Battery, Nickel-Metal Hydride Battery, Lead-Acid Battery, and Others), Propulsion Type (Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles, Hybrid Electric Vehicles), Vehicle Type (Passenger Car, Commercial Vehicles, Two-Wheeler), and Region 2025-2033,” this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses, as well as recent advancements in the market.

Market Size & Future Growth Potential:

The India electric vehicle battery market size reached USD 2,215 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 13,891 Million by 2033, exhibiting a growth rate (CAGR) of 22.6% during 2025-2033.

Core Factors Driving Market Trends:

India electric vehicle (EV) battery market is experiencing speedy growth, mainly due to the nation's initiative towards clean mobility, growing adoption of EVs, and favorable government initiatives. Essentially, increasing air pollution concerns, growing fuel prices, and a need to decrease fossil fuel dependence are prompting consumers and businesses alike to adopt electric mobility, boosting demand for EV batteries in turn. Additionally, programs like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) plan, production-linked incentives (PLI) for advanced chemistry cell battery production, and state government EV policies are setting up a propitious environment for battery manufacturers and investors alike.

Moreover, the arrival of international EV players and the foray of local auto manufacturers into electric two-wheelers, three-wheelers, and passenger cars are driving the growing demand for high-capacity, long-life, and cost-effective battery solutions. Also, innovations in battery technology, such as in lithium-ion cells, solid-state batteries, and battery management systems, are enhancing the range, safety, and charging speed of EVs, which are becoming more attractive to Indian consumers. Apart from this, the increasing development of EV charging stations, such as fast-charging stations and battery-swapping facilities, is facilitating larger use of batteries and expanding market growth.

Concurrently, huge public and private sector investments in battery manufacturing plants, such as giga factories, are increasing domestic production capacity and lessening dependence on imports. Besides that, growing emphasis on battery recycling and second-life application is gaining prominence owing to sustainability priorities and resource optimization requirements, further influencing market dynamics. Moreover, the growth of e-two-wheelers and e-rickshaws in cities and semi-cities is driving high-volume demand for compact, modular battery packs. In addition, joint initiatives among car manufacturers, battery suppliers, and technology companies are driving innovation in energy density, thermal management, and software integration of EV battery systems.

Furthermore, financing plans and leasing for EV batteries are being developed as favored solutions to mitigate high capital expenditures for consumers, hence broadening market access. Finally, increasing consumer awareness regarding sustainable transport and the general transition towards a circular economy are supporting India's EV battery market growth. Overall, a mix of regulatory support, technology innovation, development in infrastructure, and changing consumer demand is fueling the strong growth of India's electric vehicle battery industry.

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An In-Depth Analysis of Prominent Companies in the Industry by IMARC Group:

• Amara Raja Batteries Limited
• Exicom Tele-Systems Limited
• Exide Industries Ltd.
• Okaya Power Pvt. Ltd.
• Panasonic India Private Limited (Panasonic Corporation)
• Samsung SDI Company Limited
• TataAutoComp GY Batteries Private Limited
• Toshiba India Pvt. Ltd.

Comprehensive Market Report Highlights & Segmentation Analysis: 

Segmentation by Battery Type:

• Lithium-Ion Battery
• Nickel-Metal Hydride Battery
• Lead-Acid Battery
• Others

Segmentation by Propulsion Type:

• Battery Electric Vehicles
• Plug-in Hybrid Electric Vehicles
• Hybrid Electric Vehicles

Segmentation by Vehicle Type:

• Passenger Car
• Commercial Vehicles
• Two-Wheeler

Segmentation by Region:

• North India
• West and Central India
• South India
• East India

Key highlights of the Report:

• Historical Market Performance
• Future Market Projections
• Impact of COVID-19 on Market Dynamics
• Industry Competitive Analysis (Porter’s Five Forces)
• Market Dynamics and Growth Drivers
• SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
• Market Ecosystem and Value Creation Framework
• Competitive Positioning and Benchmarking Strategies

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Major Advantages of the Report:

• This report provides market leaders and new entrants with accurate revenue estimates for the overall market and its key subsegments.
• Stakeholders can leverage this report to gain a deeper understanding of the competitive landscape, enabling them to strategically position their businesses and develop effective go-to-market strategies.
• The report provides stakeholders with valuable insights into the market dynamics, offering a comprehensive analysis of key drivers, restraints, challenges, and opportunities.

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• Extensive Industry Expertise
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