India Electric Vehicle Battery Market 2021: Share, Growth, Trends, Analysis & Forecast 2026

According to the latest report by IMARC Group, titled India Electric Vehicle Battery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the india electric vehicle battery market expected to grow at a CAGR of around 30% during (2021-2026).

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

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry 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 Trends:

The growing concerns towards the harmful impact of fuel-based vehicles on the environment are primarily driving the demand for electric vehicle batteries. Additionally, a significant increase in the automotive industry has resulted in the development of several custom-made options for EV batteries to be employed in buses, loaders, trucks, excavators, vans, etc. This is further augmenting the product demand across diverse industries, such as transportation, construction, mining, logistics, transportation, etc. Besides this, the introduction of various government initiatives for encouraging the adoption of electric vehicles to curb air pollution, especially across the metropolitan cities, is also providing a thrust to the market.  In the coming years, the decreasing costs of high-capacity Li-ion batteries, along with the increasing domestic production of EV batteries rather than depending upon the exports will continue to bolster the market growth in India.

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India Electric Vehicle Battery Market 2021-2026 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

The report has segmented the market on the basis on region, disc type, material type and end user.

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

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://bit.ly/3dMnIN9

Key highlights of the report:

  • Market Performance (2015-2020)
  • Market Outlook (2021- 2026)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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Elena

Elena completed her engineering in electronics at the Georgia Institute of Technology. She possesses extensive knowledge in a variety of fields like Telecommunications, IT, IoT, Health Dialysis, photovoltaic, and many others. She is currently the sole contributor to the Healthcare IT column.

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