India Electric Vehicle Battery Market Size, Analysis 2021-2026

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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 on different end use sectors. 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.

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 region level from 2021-2026. Our report has categorized the market based on region, battery type, propulsion type and vehicle type.

Breakup by Battery Type:

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 Coverages:

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 Five User License: US$ 2999 Corporate License: US$ 3499
Post-Sale Analyst Support	10-12 Weeks
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?