The India EV Battery Pack Market report segments the industry into Body Type (Bus, LCV, M&HDT, Passenger Car), Propulsion Type (BEV, PHEV), Battery Chemistry (LFP, NCM, NMC, Others), Capacity (15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh), Battery Form (Cylindrical, Pouch, Prismatic), Method (Laser, Wire), Component (Anode, Cathode, and more), and Material Type.

The India Battery Market report segments the industry into Technology (Lithium-Ion Battery, Lead-Acid Battery, Other Technologies) and Application (SLI Batteries, Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS)), Etc.), Portable (Consumer Electronics, Etc.), Automotive Batteries (HEV, PHEV, and EV), Other Applications). Get five years of historical data and future forecasts.

The India Electric Vehicle Battery Manufacturing Market report segments the industry into Battery (Lithium-Ion, Lead-Acid, Nickel Metal Hydride Battery, Others), Battery Form (Prismatic, Pouch, Cylindrical), Vehicle (Passenger Cars, Commercial Vehicles, Others), and Propulsion (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle).

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Electric Vehicle (EV) Battery Market Size 2025-2029

The electric vehicle (EV) battery market size is valued to increase by USD 75.36 billion, at a CAGR of 20% from 2024 to 2029. Increasing demand for EVs and their expanded applications will drive the electric vehicle (ev) battery market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 48% growth during the forecast period.
By Type - Lithium-ion battery segment was valued at USD 24.72 billion in 2023
By Vehicle Type - Battery electric vehicle segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 325.07 million
Market Future Opportunities: USD 75359.70 million
CAGR from 2024 to 2029 : 20%

Market Summary

The market is experiencing unprecedented growth, fueled by the increasing adoption of EVs and their expanded applications in various industries. According to a recent study, the global EV battery market is projected to reach a value of USD129.3 billion by 2027, reflecting a significant increase from its current size. This growth is driven by advancements in battery technology, government incentives, and the growing awareness of environmental concerns. The integration of software and sensors in EV batteries has led to the development of intelligent Battery Management Systems (BMS). These systems optimize battery performance, enhance safety, and extend battery life.
Furthermore, the global power crisis has accelerated the shift towards renewable energy sources and EVs, creating a lucrative market for advanced battery technologies. However, challenges persist, including the high cost of batteries and the need for a robust recycling infrastructure. To address these challenges, researchers are exploring new materials and manufacturing methods to reduce costs and improve battery efficiency. The future of the EV battery market lies in continued innovation and collaboration between industry leaders, governments, and research institutions.

What will be the Size of the Electric Vehicle (EV) Battery Market during the forecast period?

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How is the Electric Vehicle (EV) Battery Market Segmented ?

The electric vehicle (ev) battery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Lithium-ion battery
  Lead-acid battery
  Others


Vehicle Type

  Battery electric vehicle
  Plug-in hybrid electric vehicle
  Hybrid electric vehicle


Capacity

  Medium capacity batteries
  High capacity batteries
  Low capacity batteries


Geography

  North America

    US


  Europe

    France
    Germany
    Italy
    Norway
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The lithium-ion battery segment is estimated to witness significant growth during the forecast period.

The market is undergoing constant evolution, with the lithium-ion battery segment experiencing significant growth due to its widespread adoption in the EV industry. Lithium-ion batteries, which are part of the lithium-metal chemistry family, are manufactured using various combinations of anode and cathode materials, including lithium-nickel-cobalt-aluminum oxide (NCA), lithium nickel manganese cobalt oxide (NCM), lithium-manganese spinel (LMO), lithium titanate (LTO), and lithium-ion phosphate (LFP). Carbon is the typical anode material. These batteries exhibit diverse characteristics, such as safety, cost, and performance, depending on the cathode composition. The market is also witnessing advancements in battery thermal management, charging infrastructure, and battery pack design to address challenges like state of charge, energy density, battery life cycle, and range anxiety.

For instance, battery aging mechanisms, such as electrolyte degradation, power density, cycle life, and current density, are being addressed through safety standards and fast charging protocols. Innovations in material science, electrode fabrication, impedance spectroscopy, and battery testing standards are also contributing to the market's growth. The battery management system plays a crucial role in optimizing battery performance, ensuring safety, and extending battery life. The recycling of batteries, including solid-state batteries, is gaining momentum to reduce the environmental impact and improve the overall sustainability of the EV industry. According to a recent study, the global lithium-ion battery market for EVs is projected to reach a capacity of 1,128.4 GWh by 2030, growing at a CAGR of 24.4% from 2021 to 2030.

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The Lithium-ion battery segment was valued at USD 24.72 billion in 2019 and showed

In 2022, the market size for battery in India was around *** billion U.S. dollars. It was estimated by the year 2030, the market will reach *** billion dollars. One of the main factors driven the growth would be the increasing demand for energy storage.

India electric vehicle (EV) battery market is expected to grow at a significant CAGR during the forecast period, 2023-2027. Implementation of BS VI norms which focuses on fuel-efficient vehicles and rising environment awareness are the major drivers for electric vehicle battery market growth.

India Electric Vehicle Battery Market is expected to expand significantly owing to its strategic role in enabling electric mobility, and reducing urban emissions.

The electric vehicle (EV) battery market is positioned for strong growth between 2025 and 2035, driven by the accelerating shift toward electrification in the automotive industry and the global commitment to reducing greenhouse gas emissions. The market is expected to grow from USD 11.1 billion in 2025 to USD 25.0 billion by 2035, registering a CAGR of 8.5% over the forecast period.

Country-Wise Analysis

Competitive Outlook

India EV Battery Market is projected to grow around USD 314.9 billion by 2031, at a CAGR of 27.6% during the forecast period.

The electric vehicle battery market size was valued at USD 81.41 billion in 2025 and is projected to reach USD 299.6 billion by the end of 2035, rising at a CAGR of 14.1% during the forecast period, from, 2026-2035. Asia Pacific Industry is anticipated to garner a robust share of 40% from 2026 to 2035 due to strong government backing, increasing urbanization, and rising environmental concerns.

The size of the India Battery Market market was valued at USD 7.20 Million in 2023 and is projected to reach USD 21.35 Million by 2032, with an expected CAGR of 16.80% during the forecast period. Recent developments include: February 2024: Trontek Group showcased its innovative Lithium-ion Battery and other products at the Bharat Mobility Global Expo, organized by the industry body India Energy Storage Alliance (IESA) in New Delhi., May 2023: iPower Batteries Pvt. Ltd, a lithium-ion and graphene lead-acid battery manufacturer, announced achieving a significant milestone by developing India’s first lithium magnesium iron phosphate battery series, the Rugpro lithium-ion series, for the electric vehicle (EV) industry. In April 2023, the Indian government approved the batteries under AIS 156 (Amendment III) Phase 2.. Key drivers for this market are: 4., The Emergence of New and Exciting Markets, i.e., Electric Vehicles and Battery Energy Storage Systems for Different Applications4.5.1.2 The Growing Usage of Automotive Batteries in Electric Vehicles. Potential restraints include: 4., The Emergence of New and Exciting Markets, i.e., Electric Vehicles and Battery Energy Storage Systems for Different Applications4.5.1.2 The Growing Usage of Automotive Batteries in Electric Vehicles. Notable trends are: The Automotive Segment to Witness Significant Growth.

EV Battery Market to grow from USD 90.94 billion in 2024 to USD 224.55 billion by 2034 at 9.5% CAGR, driven by solid-state innovations and lithium-ion advancements enhancing EV range and performance.

Electric Vehicle Battery Market Demand, Electric Vehicle Battery Market Analysis, Electric Vehicle Battery Market Growth, Electric Vehicle Battery Market 2024, Electric Vehicle Battery Market, Electric Vehicle Battery Market Industry 2034

The India lithium-ion battery market is experiencing robust growth, projected to reach a market size of $4.71 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 22.72% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, the burgeoning electric vehicle (EV) sector in India is a major driver, creating significant demand for high-performance lithium-ion batteries. Government initiatives promoting EV adoption and renewable energy further accelerate market growth. The increasing use of portable electronic devices and the expansion of the automotive industry also contribute to market expansion. Furthermore, advancements in battery technology, leading to increased energy density, longer lifespan, and improved safety features, are boosting consumer and industrial adoption. However, challenges remain, including the high initial cost of lithium-ion batteries, reliance on imported raw materials, and the need for robust battery recycling infrastructure. Despite these restraints, the long-term outlook for the India lithium-ion battery market remains exceptionally positive, driven by consistent technological advancements and supportive government policies. The market segmentation reveals a strong presence across diverse applications. The portable electronics segment, encompassing smartphones, laptops, and other consumer electronics, forms a substantial portion of the market. The automotive segment is experiencing rapid growth, fueled by the government’s push for electric mobility. Key players such as TDS Lithium-Ion Battery Gujarat Private Limited, Bharat Electronics Limited, and Exide Industries (through its Nexcharge JV) are actively shaping the market landscape through innovation and strategic partnerships. Competition is intense, with both domestic and international companies vying for market share. The market's growth trajectory indicates significant opportunities for investment and expansion in battery manufacturing, research and development, and recycling infrastructure development within India. Further growth is likely to be influenced by the success of government initiatives to improve the domestic supply chain and reduce reliance on imports. Recent developments include: March 2024: Panasonic Energy Co Ltd, a subsidiary of Panasonic Group, a Japan-based multinational electronics company, will form a joint venture with Maharatna PSU Indian Oil Corporation Ltd, the nation's biggest oil firm, to manufacture cylindrical lithium-ion batteries., January 2024: Automotive battery maker - Amara Raja Batteries Ltd announced its plans to operate a gigafactory before the end of 2025. In May 2023, the company laid the foundation stone for one of its first gigafactories in the Mahbubnagar district in Telangana, India, that is expected to produce Lithium Cell and Battery Packs with a capacity of up to 16 GWh and 5 GWh, respectively., December 2023: Himadri Speciality Chemical Ltd announced its plan to invest INR 48.00 billion (USD 576 million) over the next 5-6 years in setting up a plant that is likely to produce 2 lakh tonnes of lithium iron phosphate, a key material for making lithium-ion batteries used in electric vehicles.. Key drivers for this market are: 4., Declining Cost Of Lithium-ion Batteries4.; Increasing Adoption of Electric Vehicles. Potential restraints include: 4., Declining Cost Of Lithium-ion Batteries4.; Increasing Adoption of Electric Vehicles. Notable trends are: The Automotive Segment to Witness Significant Growth.

The Indian EV battery swapping market stood at $14.2 million in 2023, and it is expected to reach $68.8 million by 2030, growing at a CAGR of 25.4% between 2024 and 2030.

Discover the booming India EV Battery Pack Market! This comprehensive analysis reveals market size, CAGR, key segments (BEV, PHEV, LFP, NCM, etc.), leading companies, and future trends (2025-2033). Learn about growth drivers, restraints, and regional insights. Recent developments include: April 2023: CATL announced that it will launch its sodium-ion battery in Chery models first. In addition, the two parties will jointly build the new ENER-Q battery brand, covering all application scenarios of all power types and all material systems.March 2023: Contemporary Amperex Technology Co., Ltd. (CATL) announced that it signed a strategic cooperation agreement on business cooperation and advanced technology development with Beijing Automotive Group Co., Ltd. (BAIC Group).March 2023: Contemporary Amperex Technology Co., Ltd. (CATL) announced that it has established a joint venture (JV) named Jiefang Shidai New Energy Technology Co., Ltd. with FAW Jiefang Automotive Co., Ltd. (FAW Jiefang). The JV has a registered capital of CNY 90 million, with CATL and FAW Jiefang each holding a 50% share.. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

India Battery Cell Market size was valued at USD 8.5 Billion in 2024 and is projected to reach USD 32.33 Billion by 2032, growing at a CAGR of 16% from 2025 to 2032.

Key Market Drivers:

Government Push for Electric Vehicle Adoption: India has implemented aggressive policies and initiatives to promote electric vehicle adoption, driving demand for battery cells. The Indian government has committed INR 25,938 crore ($3.1 billion) under the Production Linked Incentive (PLI) scheme for Advanced Chemistry Cell (ACC) battery storage. Under the ACC PLI scheme, the manufacturing facility would have to be set up within two years.

Growing Energy Storage Requirements: India's expanding renewable energy infrastructure requires substantial energy storage solutions, boosting the battery cell market. India aims to install 450 GW of renewable energy capacity by 2030, of which 280 GW will require battery storage systems.

In India Electric Vehicle Battery Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,

The Covers India Electric Vehicle Battery Electrolyte Market Report is Segmented by Battery Type (Lead Acid Batteries, Lithium-Ion Batteries, and Others), and Electrolyte Type (Liquid Electrolyte, Gel Electrolyte and Solid Electrolyte). The Report Offers the Market Size and Forecasts for the India Electric Vehicle Battery Electrolyte Market in Revenue (USD) for all the Above Segments.

The size of the India Electric Vehicle Battery Materials Market market was valued at USD 0.92 Million in 2023 and is projected to reach USD 2.32 Million by 2032, with an expected CAGR of 14.11% during the forecast period. Recent developments include: February 2024: Hindalco Industries planned to invest INR 800 crore (~USD 96.4 million) to build a new aluminum foil plant near Sambalpur in Odisha, India. The facility aims to produce high-quality battery foil for the rapidly growing electric vehicle and energy storage system markets.January 2024: Indian companies such as Aether Industries, Himadri Speciality Chemicals, and Tata Chemicals invested in lithium-ion battery production. Aether Industries has recently announced a strategic agreement with a global lithium-ion battery producer to expand into the electrolyte additives market. This agreement includes the commercial supply of one electrolyte additive, and discussions have begun to develop three additional products. Himadri Speciality Chemicals is also planning to establish a manufacturing facility for lithium-ion battery components with a total capacity of 2 lakh tonnes per annum. Ami Organics has signed a non-binding MoU with a global manufacturer of electrolytes. The company is also set to sign an MoU with the Gujarat government to set up a dedicated manufacturing facility at a cost of around USD 36 million.. Key drivers for this market are: 4., Growing Electric Vehicle Sales4.; Supportive Government Policies and Regulations. Potential restraints include: 4., Growing Electric Vehicle Sales4.; Supportive Government Policies and Regulations. Notable trends are: Lithium-ion Battery Type to Dominate the Market.