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India Electric Vehicle Battery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The India electric vehicle battery market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 30% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Electric vehicle (EV) battery is primarily installed in battery electric vehicles (BEV), plug-in hybrid electric vehicles, and hybrid electric vehicles (HEV). Some of the common product variants are lithium-ion battery, nickel-metal hydride battery, and lead-acid battery. EV batteries offer numerous benefits in reducing carbon emissions, mitigating fuel dependency, controlling maintenance costs, producing high energy per unit mass, etc. In India, electric vehicles have gained more prominence over conventional gasoline-powered automobiles, thereby driving the adoption of EV batteries.

 

 
 

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India Electric Vehicle Battery Market Trends:

The rising concerns towards the negative impact of fuel-based vehicles on the environment are primarily augmenting the demand for electric vehicle batteries. Additionally, a significant growth in the automotive industry has led to the development of numerous customizable options for EV batteries to be installed in trucks, busses, loaders, excavators, vans, etc. This is further propelling the product demand across diverse industries, such as construction, logistics, transportation, mining, etc. Apart from this, the introduction of several government initiatives for promoting the adoption of electric vehicles to curb air pollution, particularly across the metropolitan cities, is also catalyzing the product demand. Furthermore, the Indian government has also launched numerous subsidies and financial aids for the purchase of e-vehicles which are bolstering the market for EV batteries. The increasing focus on the electrification of public transport fleets is further proliferating the market growth. Besides this, several car rental services in the country, such as OLA, Uber, Meru, etc., are getting inclined towards electric two-wheelers and hybrid EVs to promote ecological sustainability. In the coming years, the declining costs of high-capacity Li-ion batteries along with the growing domestic production of EV batteries rather than depending upon the exports will continue to drive the market growth in India.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India electric vehicle battery market report, along with forecasts for growth at the country and regional level from 2021-2026. Our report has categorized the market based on battery type, propulsion type and vehicle type.

Breakup by Battery Type:

 

 
 

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

Breakup by Propulsion Type:

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

Breakup by Vehicle Type:

  • Passenger Car
  • Commercial Vehicle
  • Two-Wheeler
     

Breakup by Region:

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

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amar Raja Batteries Limited, Exicom Tele-Systems Limited, Exide Industries Ltd, Hero Electric Vehicles Pvt. Ltd., Okaya Power Pvt. Ltd., Panasonic India Private Limited (Panasonic Corporation), Samsung SDI Company Limited (Samsung SDI Co., Ltd.), Tata AutoComp GY Batteries Private Limited, Tata Motors Limited and Toshiba India Pvt. Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Million
Segment Coverage Battery Type, Propulsion Type, Vehicle Type, Region
Region Covered  North India, West and Central India, South India, East India
Companies Covered Amar Raja Batteries Limited, Exicom Tele-Systems Limited, Exide Industries Ltd, Hero Electric Vehicles Pvt. Ltd., Okaya Power Pvt. Ltd., Panasonic India Private Limited (Panasonic Corporation), Samsung SDI Company Limited (Samsung SDI Co., Ltd.), Tata AutoComp GY Batteries Private Limited, Tata Motors Limited and Toshiba India Pvt. Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the India electric vehicle battery market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the India electric vehicle battery market?
  • What are the key regional markets?
  • What is the breakup of the market based on the battery type?
  • What is the breakup of the market based on the propulsion type?
  • What is the breakup of the market based on the vehicle type?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the India electric vehicle battery market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    India Electric Vehicle Battery Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Battery Type
    6.1    Lithium-Ion Battery
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Nickel-Metal Hydride Battery
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Lead-Acid Battery
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Others 
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Propulsion Type
    7.1    Battery Electric Vehicles
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Plug-in Hybrid Electric Vehicles
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Hybrid Electric Vehicles
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Vehicle Type
    8.1    Passenger Car
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Commercial Vehicles
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Two-Wheeler
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by Region
    9.1    North India
        9.1.1 Market Trends
        9.1.2 Market Breakup by State
        9.1.3 Market Forecast
    9.2    West and Central India
        9.2.1 Market Trends
        9.2.2 Market Breakup by State
        9.2.3 Market Forecast
    9.3    South India
        9.3.1 Market Trends
        9.3.2 Market Breakup by State
        9.3.3 Market Forecast
    9.4    East India 
        9.4.1 Market Trends
        9.4.2 Market Breakup by State
        9.4.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
    11.1    Overview
    11.2    Inbound Logistics
    11.3    Operations
    11.4    Outbound Logistics
    11.5    Marketing and Sales
    11.6    Post Sales Services
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
    13.1    Key Price Indicators
    13.2    Price Structure
    13.3    Price Trends
14    Policy and Regulatory Landscape
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Amar Raja Batteries Limited
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio 
           15.3.1.3 Financials
        15.3.2    Exicom Tele-Systems Limited
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio 
        15.3.3    Exide Industries Ltd
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio 
           15.3.3.3 Financials
        15.3.4    Hero Electric Vehicles Pvt. Ltd.
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio 
        15.3.5    Okaya Power Pvt. Ltd.
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio 
        15.3.6    Panasonic India Private Limited (Panasonic Corporation)
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio 
           15.3.6.3 Financials
           15.3.6.4 SWOT Analysis
        15.3.7    Samsung SDI Company Limited (Samsung SDI Co., Ltd.)
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio 
           15.3.7.3 Financials
           15.3.7.4 SWOT Analysis
        15.3.8    Tata AutoComp GY Batteries Private Limited
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio 
        15.3.9    Tata Motors Limited
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio 
           15.3.9.3 Financials
           15.3.9.4 SWOT Analysis
        15.3.10    Toshiba India Pvt. Ltd.
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio 
           15.3.10.3 Financials
           15.3.10.4 SWOT Analysis

List of Figures

Figure 1: India: Electric Vehicle Battery Market: Major Drivers and Challenges
Figure 2: India: Electric Vehicle Battery Market: Sales Value (in Million US$), 2015-2020
Figure 3: India: Electric Vehicle Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 4: India: Electric Vehicle Battery Market: Breakup by Battery Type (in %), 2020
Figure 5: India: Electric Vehicle Battery Market: Breakup by Propulsion Type (in %), 2020
Figure 6: India: Electric Vehicle Battery Market: Breakup by Vehicle Type (in %), 2020
Figure 7: India: Electric Vehicle Battery Market: Breakup by Region (in %), 2020
Figure 8: India: Electric Vehicle Battery (Lithium-Ion Battery) Market: Sales Value (in Million US$), 2015 & 2020
Figure 9: India: Electric Vehicle Battery (Lithium-Ion Battery) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 10: India: Electric Vehicle Battery (Nickel-Metal Hydride Battery) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: India: Electric Vehicle Battery (Nickel-Metal Hydride Battery) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: India: Electric Vehicle Battery (Lead-Acid Battery) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: India: Electric Vehicle Battery (Lead-Acid Battery) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: India: Electric Vehicle Battery (Other Battery Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: India: Electric Vehicle Battery (Other Battery Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: India: Electric Vehicle Battery (Battery Electric Vehicles) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: India: Electric Vehicle Battery (Battery Electric Vehicles) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: India: Electric Vehicle Battery (Plug-in Hybrid Electric Vehicles) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: India: Electric Vehicle Battery (Plug-in Hybrid Electric Vehicles) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: India: Electric Vehicle Battery (Hybrid Electric Vehicles) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: India: Electric Vehicle Battery (Hybrid Electric Vehicles) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: India: Electric Vehicle Battery (Passenger Car) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: India: Electric Vehicle Battery (Passenger Car) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: India: Electric Vehicle Battery (Commercial Vehicle) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: India: Electric Vehicle Battery (Commercial Vehicle) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: India: Electric Vehicle Battery (Two-Wheeler) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: India: Electric Vehicle Battery (Two-Wheeler) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: North India: Electric Vehicle Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: North India: Electric Vehicle Battery Market: Breakup by State (in %), 2020
Figure 30: North India: Electric Vehicle Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: West and Central India: Electric Vehicle Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: West and Central India: Electric Vehicle Battery Market: Breakup by State (in %), 2020
Figure 33: West and Central India: Electric Vehicle Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: South India: Electric Vehicle Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: South India: Electric Vehicle Battery Market: Breakup by State (in %), 2020
Figure 36: South India: Electric Vehicle Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: East India: Electric Vehicle Battery Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: East India: Electric Vehicle Battery Market: Breakup by State (in %), 2020
Figure 39: East India: Electric Vehicle Battery Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: India: Electric Vehicle Battery Industry: SWOT Analysis
Figure 41: India: Electric Vehicle Battery Industry: Value Chain Analysis
Figure 42: India: Electric Vehicle Battery Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: India: Electric Vehicle Battery Market: Key Industry Highlights, 2020 and 2026
Table 2: India: Electric Vehicle Battery Market Forecast: Breakup by Battery Type (in Million US$), 2021-2026
Table 3: India: Electric Vehicle Battery Market Forecast: Breakup by Propulsion Type (in Million US$), 2021-2026
Table 4: India: Electric Vehicle Battery Market Forecast: Breakup by Vehicle Type (in Million US$), 2021-2026
Table 5: India: Electric Vehicle Battery Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 6: India: Electric Vehicle Battery Market: Competitive Structure
Table 7: India: Electric Vehicle Battery Market: Key Players

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