India Electric Vehicle Battery Market (2025-2031) | Forecast, Analysis, Size, Growth, Revenue, Value, Industry, Share, Companies & Trends

India Electric Vehicle Battery Market Growth Rate

According to 6Wresearch internal database and industry insights, the India Electric Vehicle Battery Market is projected to grow at a compound annual growth rate (CAGR) of 11.3% during the forecast period (2025-2031).

India Electric Vehicle Battery Market Highlights

Topics Covered in the India Electric Vehicle Battery Market Report

The India Electric Vehicle Battery Market report thoroughly covers the market by vehicle type, propulsion type, and battery type. The market report provides an unbiased and detailed analysis of ongoing market trends, high-growth opportunities, and market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Electric Vehicle Battery Market Synopsis

The India Electric Vehicle Battery Market is set to register a strong growth due to government incentives, increasing adaption of EVs, and innovations in battery technologies. Soaring fuel prices, urban air pollution, and expanding charging infrastructures are creating notable demand for lithium-ion and hybrid batteries. The growth of the market is also supported by domestic battery manufacturing initiatives, startup company engagement, and strategic alliances between battery suppliers and OEMS. Electrification of commercial and private vehicles is fueling the investment in high capacity, fast charge and long life batteries.

Evaluation of Growth Drivers in the India Electric Vehicle Battery Market

Below mentioned are some prominent drivers and their influence to the market dynamics:

India Electric Vehicle Battery Market is anticipated to witness significant expansion, registering a CAGR of 11.3% during the forecast period of 2025-2031. The continued growth has been propelled by ongoing governmental support for electric vehicle (EV) policies, technology advancements in battery chemistries and design, and partnerships between original equipment manufacturers (OEMs), and energy storage companies. The enhancement of battery swapping infrastructure, lifecycle management, and domestic battery cell manufacturing capabilities has improved operational efficiencies, lowered total cost of ownership, and support for adoption across various vehicle segments which will create further growth for the India Electric Vehicle Battery Market Growth and positions India as an essential enabler of sustainable mobility throughout passenger, commercial, and two-wheeler segments.

Evaluation of Restraints in the India Electric Vehicle Battery Market

Below mentioned are some major restraints and their influence to the market dynamics:

India Electric Vehicle Battery Market Challenges

The development of the India Electric Vehicle Battery Industry is likely to face several obstacles. Dependence on raw materials from overseas creates exposure to supply chain disruptions and fluctuations in price. Limited recycling infrastructure and absence of standardized second-life battery protocols raises questions of sustainability. High capital costs of batteries, technical complexities of recycling spent batteries, and lack of uniformity in execution of policies by state governments restricts the growth of the market. Moreover, these factors play an important role in shaping investment, product design, and localization decisions for OEMs, battery manufacturers, and fleet operators.

India Electric Vehicle Battery Market Trends

There are several emerging trends shaping the India Electric Vehicle Battery Market landscape:

• Lithium-ion Leadership - Heightened research and development efforts and lower price points are solidifying lithium-ion batteries as the dominant electrochemical choice across passenger vehicles, commercial vehicles, and two-wheelers.
• Swapping Battery Models - Pilot programs on two-wheelers and three-wheelers allow for faster battery recharges and minimize downtime, thus improving the operational performance of electric vehicle operations.
• Increasing Local Manufacturing - Investment in local battery cell production and assembly will help the electric vehicle battery market reduce foreign supply dependence and greater resiliency within the supply chain.

Investment Opportunities in the India Electric Vehicle Battery Industry

Several investment opportunities continue to open new avenues:

• Battery Manufacturing: Establish factories to produce lithium-ion and nickel-based batteries to capitalize on government PLI schemes and local demand. 
• Battery Recycling and Second-Life Applications: Create recycling infrastructure, and energy storage applications for retired and end-of-life EV batteries to address this sustainability issue to the EV sector. 
• Fleet Battery Leasing and Subscription: Offer subscription or leasing based battery solutions for two-wheelers and commercial fleets to lower upfront capital costs. 
• R&D for Solid-State Batteries: Fund next generation battery chemistries to achieve higher energy density, less weight, and greater safety.

Top 5 Leading Players in the India Electric Vehicle Battery Market

Some leading players operating in the India Electric Vehicle Battery Market Share include:

1. Exide Industries Ltd.

Exide produces lead-acid and lithium-ion batteries for two-wheelers, passenger cars, and commercial EVs. The company emphasizes R&D, domestic manufacturing, and aftermarket service networks, supporting growth in India’s EV battery sector.

2. Amara Raja Batteries Ltd.

Amara Raja offers lithium-ion and lead-acid batteries, focusing on energy storage solutions for passenger and commercial EVs. Its strategy includes technology partnerships, localized production, and lifecycle service offerings.

3. Tata Chemicals Ltd. (Tata Power Battery)

Tata Power Battery manufactures lithium-ion packs for passenger cars and two-wheelers, emphasizing R&D in battery management systems, safety, and performance optimization.

4. Okaya Power Group

Okaya provides lead-acid and lithium-ion batteries for two-wheelers, commercial vehicles, and energy storage, with a focus on affordability, distribution networks, and after-sales service.

5. Exicom Tele-Systems Ltd.

Exicom designs lithium-ion battery packs and energy storage solutions for EVs, focusing on R&D, smart BMS integration, and partnerships with OEMs to enhance market penetration.

Government Regulations & Initiatives Introduced in the India Electric Vehicle Battery Market

According to Indian Government Data, The regulatory and policy environment in India plays a significant role in shaping the EV battery sector. National programs including FAME-II, production linked incentive (PLI) for advanced cell chemistry (ACC) manufacturing, and the National Electric Mobility Mission Plan (NEMMP) encourage local battery manufacturing to facilitate the adoption of electric vehicles (EV). Incentives at the state level in Maharashtra, Delhi, and Tamil Nadu include tax breaks, exemptions from vehicle registration fees, and capital subsidies. The EV30@30 programs aims for a 30% stake for EVs by 2030, among other initiatives to further accelerate the development and adoption of next generation battery technology.

Future Insights of the India Electric Vehicle Battery Market

The Indian Electric Vehicle Battery Market is expected to change and improve with a stronger focus on sustainability, technology breakthrough and lowering costs. OEMs will look to increase battery manufacturing in India, state-of-the-art battery management systems (BMS), and subscriptions-based service models. Increasing digitalization, aided by government intervention will increase mass consumer accessibility. Indeed, the market will see enhanced EV adoption from expanded charging infrastructure and as financial service institutions begin to finance EVs. High energy density batteries for passenger cars and eventually two-wheelers will be the spark for the next growth period in the market.

Market Segmentation Analysis

The report offers a comprehensive study of the subsequent market segments and their leading categories.

Two-Wheeler to Dominate the Market- By Vehicle Type 

According to Ritika Kalra, Senior Research Analyst, 6Wresearch, Two-wheelers dominate the India Electric Vehicle Battery Market due to rising demand for affordable, compact EVs in urban areas and last-mile delivery fleets. Growing adoption of electric scooters and motorcycles, supported by battery swapping and fast-charging solutions, is fueling market penetration. Two-wheelers are increasingly preferred for personal mobility, logistics, and courier services, highlighting their versatility across urban and semi-urban regions.

Battery Electric Vehicle to Dominate the Market -By Propulsion Type 

Battery Electric Vehicles (BEVs) hold the largest market share, driven by zero-emission regulations, government subsidies, and consumer preference for fully electric mobility solutions. BEVs are increasingly deployed in passenger cars, two-wheelers, and commercial fleets, benefiting from expanding charging infrastructure and falling battery costs. Rising environmental awareness and regulatory mandates further strengthen BEV adoption.

Lithium-ion Battery to Dominate the Market -By Battery Type 

Lithium-ion batteries lead the market owing to high energy density, long cycle life, faster charging, and decreasing costs. They are widely used across passenger vehicles, commercial EVs, and two-wheelers. Continuous R&D in cell chemistry, thermal management, and battery management systems is enhancing performance, safety, and affordability, reinforcing lithium-ion’s dominance in the market.

Key attractiveness of the report

• 10 Years of Market Numbers.
• Historical Data Starting from 2021 to 2024.
• Base Year: 2024
• Forecast Data until 2031.
• Key Performance Indicators Impacting the market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Electric Vehicle Battery Market Outlook
• Market Size of India Electric Vehicle Battery Market, 2024
• Forecast of India Electric Vehicle Battery Market, 2031
• Historical Data and Forecast of India Electric Vehicle Battery Revenues & Volume for the Period 2021-2031
• India Electric Vehicle Battery Market Trend Evolution
• India Electric Vehicle Battery Market Drivers and Challenges
• India Electric Vehicle Battery Price Trends
• India Electric Vehicle Battery Porter's Five Forces
• India Electric Vehicle Battery Industry Life Cycle
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Vehicle Type for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Passenger Car for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Commercial Vehicle for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Two-Wheeler for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Propulsion Type for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Battery Electric Vehicle for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Hybrid Electric Vehicle for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Plug-in Hybrid Electric Vehicle for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Battery Type for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Lead Acid Battery for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Nickel Metal Hydride Battery for the Period 2021-2031
• Historical Data and Forecast of India Electric Vehicle Battery Market Revenues & Volume By Lithium ion Battery for the Period 2021-2031
• India Electric Vehicle Battery Import Export Trade Statistics
• Market Opportunity Assessment By Vehicle Type
• Market Opportunity Assessment By Propulsion Type
• Market Opportunity Assessment By Battery Type
• India Electric Vehicle Battery Top Companies Market Share
• India Electric Vehicle Battery Competitive Benchmarking By Technical and Operational Parameters
• India Electric Vehicle Battery Company Profiles
• India Electric Vehicle Battery Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Vehicle Type

• Passenger Car
• Commercial Vehicle
• Two-Wheeler

By Propulsion Type

• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)

By Battery Type

• Lead Acid Battery
• Nickel Metal Hydride Battery
• Lithium-ion Battery