Product Code: ETC4570645 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India high voltage battery market import shipment demonstrated a robust compound annual growth rate of 28.1% over the period 2020-2024. However, there was a notable decline in growth momentum between 2023 and 2024, with a decrease of -8.8%. Despite this slowdown, the market maintained an overall expansion trend during the timeframe.
The high voltage battery market in India is growing in tandem with the adoption of electric vehicles (EVs) and hybrid vehicles. High voltage batteries are a key component of these vehicles, providing the power necessary for electric propulsion. The market is marked by advancements in battery technology, energy density, and charging infrastructure. As India intensifies its efforts to reduce emissions and promote EV adoption, the high voltage battery market is set to experience substantial growth, facilitating the transition to cleaner and more sustainable transportation.
The high voltage battery market is driven by the growth of electric vehicles (EVs) and hybrids. EVs rely on high voltage batteries for power, and as the EV market expands, so does the demand for high-performance batteries. Government incentives and environmental concerns also promote the adoption of high voltage batteries.
The high voltage battery market in India faces challenges related to the availability of charging infrastructure and consumer reluctance to adopt electric vehicles. High voltage batteries are a critical component of electric vehicles, but the lack of fast-charging stations and the need for an extensive charging network hinder the widespread adoption of electric vehicles. Moreover, concerns about battery life, recycling, and disposal further impact market growth.
The high voltage battery market in India faced mixed consequences due to the COVID-19 pandemic. On one hand, lockdowns and production disruptions impacted the manufacturing and supply chain for electric vehicles (EVs), leading to delays in battery production and EV launches. On the other hand, as the focus on sustainability and environmental concerns intensified, there was an increased interest in electric mobility. The India government`s push for electric vehicles and incentives for battery manufacturing further bolstered the market. The pandemic, in some ways, accelerated the transition to high-voltage batteries, and this trend is expected to continue as the automotive industry recovers.
For high voltage batteries, significant companies operating in India are Exide Industries Ltd., Amara Raja Batteries Ltd., Tata Chemicals Ltd., HBL Power Systems Ltd., and Mahindra Electric Mobility Ltd.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India High Voltage Battery Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India High Voltage Battery Market Revenues & Volume, 2021 & 2031F |
3.3 India High Voltage Battery Market - Industry Life Cycle |
3.4 India High Voltage Battery Market - Porter's Five Forces |
3.5 India High Voltage Battery Market Revenues & Volume Share, By Capacity, 2021 & 2031F |
3.6 India High Voltage Battery Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 India High Voltage Battery Market Revenues & Volume Share, By Range, 2021 & 2031F |
4 India High Voltage Battery Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growing demand for electric vehicles in India |
4.2.2 Government initiatives and incentives to promote clean energy solutions |
4.2.3 Technological advancements in high voltage battery technology |
4.3 Market Restraints |
4.3.1 High initial cost of high voltage batteries |
4.3.2 Lack of charging infrastructure for electric vehicles in India |
4.3.3 Limited awareness and adoption of high voltage batteries in non-automotive sectors |
5 India High Voltage Battery Market Trends |
6 India High Voltage Battery Market, By Types |
6.1 India High Voltage Battery Market, By Capacity |
6.1.1 Overview and Analysis |
6.1.2 India High Voltage Battery Market Revenues & Volume, By Capacity, 2021-2031F |
6.1.3 India High Voltage Battery Market Revenues & Volume, By 75-150, 2021-2031F |
6.1.4 India High Voltage Battery Market Revenues & Volume, By 151-225, 2021-2031F |
6.1.5 India High Voltage Battery Market Revenues & Volume, By 226-300, 2021-2031F |
6.1.6 India High Voltage Battery Market Revenues & Volume, By >300kWh, 2021-2031F |
6.2 India High Voltage Battery Market, By Type |
6.2.1 Overview and Analysis |
6.2.2 India High Voltage Battery Market Revenues & Volume, By NCA, 2021-2031F |
6.2.3 India High Voltage Battery Market Revenues & Volume, By NMC, 2021-2031F |
6.2.4 India High Voltage Battery Market Revenues & Volume, By LFP, 2021-2031F |
6.2.5 India High Voltage Battery Market Revenues & Volume, By Others, 2021-2031F |
6.3 India High Voltage Battery Market, By Range |
6.3.1 Overview and Analysis |
6.3.2 India High Voltage Battery Market Revenues & Volume, By 100-250, 2021-2031F |
6.3.3 India High Voltage Battery Market Revenues & Volume, By 251-400, 2021-2031F |
6.3.4 India High Voltage Battery Market Revenues & Volume, By 401-550, 2021-2031F |
6.3.5 India High Voltage Battery Market Revenues & Volume, By >550 Miles, 2021-2031F |
7 India High Voltage Battery Market Import-Export Trade Statistics |
7.1 India High Voltage Battery Market Export to Major Countries |
7.2 India High Voltage Battery Market Imports from Major Countries |
8 India High Voltage Battery Market Key Performance Indicators |
8.1 Average battery life and performance improvement rate |
8.2 Number of public charging stations for electric vehicles |
8.3 Investment in research and development for high voltage battery technology |
9 India High Voltage Battery Market - Opportunity Assessment |
9.1 India High Voltage Battery Market Opportunity Assessment, By Capacity, 2021 & 2031F |
9.2 India High Voltage Battery Market Opportunity Assessment, By Type, 2021 & 2031F |
9.3 India High Voltage Battery Market Opportunity Assessment, By Range, 2021 & 2031F |
10 India High Voltage Battery Market - Competitive Landscape |
10.1 India High Voltage Battery Market Revenue Share, By Companies, 2024 |
10.2 India High Voltage Battery Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |