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India Electric Vehicle Battery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The India electric vehicle battery market is expected to exhibit a CAGR of 27.12% during 2022-2027. 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) batteries are energy storage devices that provide electricity to power vehicle accessories and battery-based electric engines for propulsion. Some commonly available EV batteries include lithium-ion, nickel-metal hydride, and lead-acid batteries. They are widely used in battery electric vehicles (BEV), plug-in hybrid, and hybrid electric vehicles (HEV), such as bikes, e-rickshaws, e-cars, buses, and loaders. They assist in minimizing carbon emissions, eliminating fuel dependency, reducing maintenance costs, and generating high energy per unit mass. Compared to fuel-based engines, they offer a high power-to-weight ratio, a noise-free travel experience, and cost-effectiveness. As a result, EV batteries are gaining immense traction with the surging sales of EVs in India.

 

 
 

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India Electric Vehicle Battery Market Trends:

In India, the growing environmental concerns have led to a significant shift from fuel-based vehicles toward EVs. This, coupled with inflating fuel prices, represents the primary factor driving the market growth. Additionally, the Government of India is taking favorable initiatives to encourage the adoption of EVs to curb air pollution, especially across metropolitan cities. In line with this, the launch of several subsidies and financial aids for the purchase of e-vehicles is positively influencing the sales of EV batteries. Besides this, the leading players are introducing various customization options for EV batteries installed in trucks, buses, loaders, excavators, and vans. This is further anticipated to expand product applications across numerous industries, including construction, logistics, transportation, and mining. Furthermore, the expanding India electric vehicle market and the rising production of EVs due to elevating income levels, rapid urbanization, and growing population across the country are other major growth-inducing factors. Along with this, the emergence of car rental services in the country, such as OLA, Uber, and Meru, has accelerated the adoption of electric two-wheelers and hybrid EVs to reduce their carbon footprint and promote ecological sustainability. Other factors, including the growing popularity of autonomous EVs, shifting focus on the electrification of public transport fleets, declining costs of high-capacity Li-ion batteries, increasing domestic production of EV batteries, and technological advancements, are also creating a favorable market outlook.

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 at the country and regional level from 2022-2027. 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 Vehicles
  • 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 2021
Historical Period 2016-2021
Forecast Period 2022-2027
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$ 2299
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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$), 2016-2021
Figure 3: India: Electric Vehicle Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: India: Electric Vehicle Battery Market: Breakup by Battery Type (in %), 2021
Figure 5: India: Electric Vehicle Battery Market: Breakup by Propulsion Type (in %), 2021
Figure 6: India: Electric Vehicle Battery Market: Breakup by Vehicle Type (in %), 2021
Figure 7: India: Electric Vehicle Battery Market: Breakup by Region (in %), 2021
Figure 8: India: Electric Vehicle Battery (Lithium-Ion Battery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: India: Electric Vehicle Battery (Lithium-Ion Battery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: India: Electric Vehicle Battery (Nickel-Metal Hydride Battery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: India: Electric Vehicle Battery (Nickel-Metal Hydride Battery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: India: Electric Vehicle Battery (Lead-Acid Battery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: India: Electric Vehicle Battery (Lead-Acid Battery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: India: Electric Vehicle Battery (Other Battery Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: India: Electric Vehicle Battery (Other Battery Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: India: Electric Vehicle Battery (Battery Electric Vehicles) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: India: Electric Vehicle Battery (Battery Electric Vehicles) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: India: Electric Vehicle Battery (Plug-in Hybrid Electric Vehicles) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: India: Electric Vehicle Battery (Plug-in Hybrid Electric Vehicles) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: India: Electric Vehicle Battery (Hybrid Electric Vehicles) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: India: Electric Vehicle Battery (Hybrid Electric Vehicles) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: India: Electric Vehicle Battery (Passenger Car) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: India: Electric Vehicle Battery (Passenger Car) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: India: Electric Vehicle Battery (Commercial Vehicles) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: India: Electric Vehicle Battery (Commercial Vehicles) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: India: Electric Vehicle Battery (Two-Wheeler) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: India: Electric Vehicle Battery (Two-Wheeler) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: North India: Electric Vehicle Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: North India: Electric Vehicle Battery Market: Breakup by State (in %), 2021
Figure 30: North India: Electric Vehicle Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: West and Central India: Electric Vehicle Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: West and Central India: Electric Vehicle Battery Market: Breakup by State (in %), 2021
Figure 33: West and Central India: Electric Vehicle Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: South India: Electric Vehicle Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: South India: Electric Vehicle Battery Market: Breakup by State (in %), 2021
Figure 36: South India: Electric Vehicle Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: East India: Electric Vehicle Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: East India: Electric Vehicle Battery Market: Breakup by State (in %), 2021
Figure 39: East India: Electric Vehicle Battery Market Forecast: Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: India: Electric Vehicle Battery Market Forecast: Breakup by Battery Type (in Million US$), 2022-2027
Table 3: India: Electric Vehicle Battery Market Forecast: Breakup by Propulsion Type (in Million US$), 2022-2027
Table 4: India: Electric Vehicle Battery Market Forecast: Breakup by Vehicle Type (in Million US$), 2022-2027
Table 5: India: Electric Vehicle Battery Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: India: Electric Vehicle Battery Market: Competitive Structure
Table 7: India: Electric Vehicle Battery Market: Key Players


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