India electric vehicle battery market is estimated to grow at a CAGR of over 8.0% during the forecast period. The rising sales of electric vehicles in the country is a major factor that is driving the growth of electric vehicles battery market in the country. The rise in initiatives taken by the various government organization such as ISRO and Indian Oil Corp. Ltd. are further augmenting the growth of electric vehicles batteries industry in the country. For instance, in August 2019, state-run oil refiner Indian Oil Corp. Ltd. announced to set up a 1 Giga Watt (GW) plant to make batteries used for running electric vehicles in partnership with an overseas start-up using a non-lithium ion raw material.

The India electric vehicle market is segmented on the basis of battery type vehicle type, and propulsion technology. Based on the Battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on battery type Li-ion is anticipated to hold a considerable market share during the forecast period. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle. 

Some of the major companies which are contributing to the growth of India electric vehicles battery market include  Tata Group, Amara Raja Group, Exide Industries Ltd, HBL Power Systems Ltd., Hitachi, Ltd., Indian Oil Corp. Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various growth strategies such as new product innovations, mergers & acquisitions, joint ventures, development of manufacturing plants for EV batteries and so on stay competitive in the market. For instance, in January 2020, Tata Group had announced to make investment of over $550 million to set up a lithium-ion battery plant in Dholera in Gujarat. In June 2018, Exide Industries Ltd. announced its joint venture agreement with Leclanche to build lithium-ion batteries and energy storage solutions to cater the rising demand of electric vehicles batteries in the country. 

Research Methodology

The market study of the India electric vehicle battery market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. India Electric Vehicle Battery Market Research and Analysis by Battery type 
2. India Electric Vehicle Battery Market Research and Analysis by Vehicle type
3. India Electric Vehicle Battery Market Research and Analysis by Propulsion Technology

The Report Covers

• Comprehensive research methodology of India electric vehicle battery market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the India electric vehicle battery market.
• Insights about market determinants which are stimulating the India electric vehicle battery market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.