India Electric Vehicle Battery Market Research Report, 2030

The Indian EV battery market plays a critical role in shaping the country’s sustainable mobility landscape. As one of the world's fastest-growing automotive markets, India has recognized the potential of electric vehicles (EVs) to reduce dependency on fossil fuels and address environmental challenges. The government has introduced several initiatives to promote EV adoption and domestic battery production. The National Electric Mobility Mission Plan (NEMMP) and the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) schemes are central to these efforts, offering subsidies for EV purchases and incentivizing battery manufacturing. Under FAME II, significant funds have been allocated to support EV adoption, with an emphasis on electrifying public transport and two-wheelers. Moreover, the Production Linked Incentive (PLI) scheme for Advanced Chemistry Cells (ACC) aims to establish India as a hub for EV battery manufacturing by encouraging investments in domestic production and reducing import reliance. State-level policies, such as those in Gujarat, Maharashtra, and Tamil Nadu, complement these national initiatives by offering tax breaks, subsidies, and infrastructure support for EV battery manufacturing and adoption. The demand for EV batteries is driven by the increasing penetration of electric two-wheelers, buses, and cars, coupled with growing environmental awareness and urbanization. With rising fuel prices and the push for green energy solutions, India’s EV ecosystem is witnessing unprecedented growth. Major private players and start-ups are increasingly collaborating with global leaders to bring cutting-edge battery technologies to the market, further enhancing its growth prospects. According to the research report, "India EV battery Market Research Report, 2030," published by Actual Market Research, the India EV battery market is anticipated to grow at more than 18.67% CAGR from 2025 to 2030. Several factors contribute to this growth, including government incentives, technological advancements, and increased consumer demand for clean mobility solutions. The rapid urbanization in India, coupled with a growing middle class, has led to heightened demand for affordable and efficient EVs, driving battery adoption. Leading companies such as Exide Industries and Amara Raja Batteries are playing pivotal roles in expanding production capacities and introducing innovative products. Start-ups like Log9 Materials and Ola Electric are also contributing to the sector by focusing on advanced battery chemistries and fast-charging technologies. International collaborations, such as joint ventures with global battery manufacturers, are facilitating the localization of high-performance battery production in India. Trends such as the growing adoption of lithium-ion batteries, the development of solid-state batteries, and advancements in battery recycling are shaping the market. Opportunities abound in battery swapping infrastructure, energy storage systems, and second-life applications for retired batteries, which are gaining traction due to their cost-efficiency and sustainability.

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The India EV battery market is segmented by propulsion type into Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Hybrid Electric Vehicles (HEVs). BEVs dominate this segment, accounting for the largest market share, driven by the government’s focus on zero-emission mobility. BEVs are increasingly popular among urban consumers due to their affordability, lower operational costs, and suitability for city commutes. PHEVs and HEVs, on the other hand, are preferred by consumers seeking extended range and flexibility. PHEVs combine electric and internal combustion engine technologies, offering a transitional solution for buyers not ready to fully commit to electric mobility. HEVs, which use battery power to enhance fuel efficiency, are widely adopted by consumers in regions with limited charging infrastructure. By battery type, lithium-ion batteries lead the market due to their superior energy density, efficiency, and declining production costs. Lead-acid batteries, though historically dominant, are being phased out due to environmental concerns and limited performance capabilities. Emerging technologies, including nickel-metal hydride, sodium-ion, and solid-state batteries, are gaining attention for their potential to address specific application needs. Solid-state batteries, in particular, hold promise for higher energy densities and improved safety, making them a focal point for R&D investments. The market segmentation by vehicle type highlights the dominance of passenger vehicles, which account for a significant share of EV battery demand in India. The adoption of electric two-wheelers and passenger cars has surged due to rising fuel costs, urbanization, and government incentives. Affordable EV models, combined with tax exemptions and subsidies, have made electric two-wheelers especially popular among middle-income consumers. Electric cars, supported by the expansion of charging infrastructure and consumer awareness, are becoming an attractive option for urban households. Commercial vehicles, including e-rickshaws, electric buses, and delivery vans, also contribute substantially to the market. These vehicles are pivotal for urban transportation and logistics, with high-capacity batteries being essential to their operations. The electrification of public transport fleets, driven by government mandates, is creating significant opportunities for battery manufacturers. For instance, the deployment of electric buses in cities like Delhi and Bengaluru has boosted demand for reliable and long-lasting battery systems. Additionally, logistics companies are increasingly adopting electric vans to meet sustainability goals, further driving demand in the commercial segment. India’s EV battery market demonstrates strong potential for sustainable growth, supported by a favorable regulatory environment, technological advancements, and an evolving consumer base. With substantial investments in domestic manufacturing, infrastructure development, and research into advanced battery chemistries, India is well-positioned to lead in the global EV battery market. Considered in this report • Geography: India • Historic Year: 2019 • Base year: 2024 • Estimated year: 2025 • Forecast year: 2030 Aspects covered in this report • EV battery Market with its value and forecast along with its segments • Application wise EV battery distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Propulsion Type • BEV • PHEV • HEV

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Nikita Jabrela

Business Development Manager

By Battery Type • Li-ion Battery • Lead Acid • Others (Nickel Metal Hybrid, Sodium ion, Solid state) By Vehicle Type • Passenger Vehicles • Commercial Vehicles The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

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Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.