India Rechargeable Battery Market to Reach US$ 13.7 Billion by 2032, Stimulated by Growing Product Utilization across the Automotive Sector

April 21, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “India Rechargeable Battery Market Report by Battery Type (Lead-Acid Batteries, Li-ion Batteries, NiMH Batteries, NiCd Batteries, and Others), Capacity (150-1000 mAh, 1300-2700 mAh, 3000-4000 mAh, 4000-6000 mAh, 6000-10000 mAh, More Than 10000 mAh), Application (Consumer Electronics, Power Stations, Automotive, Defence, and Others), and Region 2024-2032,” the India rechargeable battery market size reached US$ 7.3 Billion in 2023. A rechargeable, or accumulator battery, refers to a secondary device that converts chemical energy into electrical energy. It consists of an electrolyte, anode, and cathode that produces current through electrochemical and reversible cell reactions, allowing the product to regain its electrical potential when exposed to the current. Unlike conventional batteries, a rechargeable battery is placed in a charger after the battery power is completely drained. The solution provides enhanced durability, produces less waste, and offers optimal convenience at minimal operational costs. Apart from this, it is more reliable, energy-efficient, ecological, and sustainable, due to which it is extensively employed for applications in consumer devices, automobiles, tools, and uninterruptible power supplies. At present, a rechargeable battery is available in various shapes and sizes, varying from industrial megawatt systems to button-sized cells.

India Rechargeable Battery Market Trends:

The widespread incorporation of rechargeable batteries in various bio-based and lightweight vehicles, such as golf carts, motorized wheelchairs, electric forklifts, and electric bicycles, represents a prime factor currently driving the market growth in India. In line with this, the increasing demand for electric vehicles (EVs) due to inflating prices of fossil fuels is also positively contributing to the market growth. This is further supported by the rising environmental concerns and the growing awareness amongst consumers regarding the detrimental impact of traditional batteries, including air acidification and global warming. Furthermore, the escalating need for portable consumer electronic devices, such as smartphones, tablets, music players, digital cameras, laptops, and remote controls, is acting as another factor facilitating the product demand. Moreover, favorable initiatives by the Government of India (GoI) to promote the manufacturing of automotive and rechargeable battery technologies, such as the flow battery, which can improve the power output without taking up extra space, are propelling the market growth. Additionally, the fueling employment of lead-acid batteries as an uninterruptible power source (UPS) across various industries in the country is favoring the market growth. Other factors, such as rapid industrialization, the easy availability of high-performance batteries across multiple distribution channels, and the recent manufacturing of bio-based rechargeable product variants by key players, are positively stimulating the market growth. Looking forward, the market value is projected to reach US$ 13.7 Billion by 2032, expanding at a CAGR of 7% during 2024-2032.

Market Summary:

On the basis of the battery type, the market is segregated into lead-acid, Li-ion, NiMH, NiCd, and other batteries.
Based on the capacity, the market is categorized into 150 - 1000, 1300 - 2700, 3000 - 4000, 4000 - 6000, 6000 - 10000, and more than 10000 mAh.
On the basis of the application, the market has been divided into consumer electronics, power stations, automotive, defense, and others.
On a regional basis, the market is segmented into North, West and Central, East, and South India.
The competitive landscape of the industry has also been examined, covering the competitive structure and key player profiles.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Battery Type, Capacity, Application, Region
Region Covered	North India, West and Central India, South India, East India
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
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)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

India Rechargeable Battery Market to Reach US$ 13.7 Billion by 2032, Stimulated by Growing Product Utilization across the Automotive Sector

Purchase options

Single User License $2699
Five User License $3699
Corporate User License $4699

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.