Who is the market leader in battery in India | Explore Growth & Insights

Who is the market leader in battery in India?

India battery market is predicted to expand worldwide with significant CAGR of 12.7% from 2026 to 2032. The market is driven largely by rising demand in energy storage and consumer electronics. Over the years, the preference of electric vehicle (EV) is growing among population, telecom and IT infrastructure are also expanding, and continuous advances are happened in battery technologies.

The major drivers include government incentives, such as the PLI scheme with backing for Advanced Chemistry Cell plants, and the FAME program supporting EV adoption. The intervention of renewable energy also adds momentum in the market: battery pack prices have declined to roughly US $55/kWh which enables the solar-plus-storage systems are offering competitive price for grid stability and clean energy. Collectively, these factors point to a rapidly expanding battery landscape through 2032.

List of the players in the battery market in India

1. Su-Kam Power Systems Ltd.

Su-Kam specializes in power backup systems including inverters, solar PCs, off-grid battery solutions, and lithium-ion power units. It boasts strong R&D capabilities and operates in over 70 countries.

2. Okaya Power Pvt. Ltd.

Okaya produces lead-acid batteries, inverters, and solar storage solutions tailored for residential and institutional energy needs. It is known for innovation in tubular and maintenance-free batteries.

3. Amara Raja Energy & Mobility Ltd. (Amara Raja Group)

Amara Raja (Amaron) is the second-largest lead-acid battery producer in India, supplying automotive and industrial sectors. The company is building a lithium-ion gigafactory in partnership with Gotion-InoBat to enter the EV cell market.

4. Eveready Industries India Ltd.

Eveready is India’s leading dry-cell and flashlight brand, commanding over 45% market share in consumer batteries. The company is broadening its portfolio into rechargeable batteries and green energy segments.

5. Indo National Ltd. (Nippo Batteries)

Nippo (Indo National) is the country’s second-largest dry-cell battery manufacturer, with 28% market share. It also produces torches, LED lights, and exports to over 50 countries.

6. HBL Power Systems Ltd.

HBL manufactures specialized batteries for defense, aerospace, telecom, railways, and energy storage systems. It also produces lithium-ion modules and BMS for EVs and critical infrastructure.

7. BASE Corporation Ltd.

BASE manufactures VRLA batteries and is the exclusive Panasonic battery distributor in India. Its decade-long 'Dial-a-Battery' service supports extensive dealer and logistics support.

8. Exide Industries Ltd.

Exide is India's largest manufacturer of lead-acid storage batteries for automotive, industrial, submarine, UPS, and solar applications. It has a vast production and distribution network, and has recently expanded into lithium-ion cell manufacturing through its subsidiary Exide Energy Solutions.

9. Tata AutoComp GY Batteries Pvt. Ltd. (Tata Group)

A joint venture between Tata AutoComp and GS Yuasa, this company manufactures automotive and industrial batteries including lithium-ion cells. It supports the Tata EV ecosystem and benefits from PLI incentives for gigafactories.

10. Luminous Power Technologies Pvt. Ltd.

Luminous manufactures lead-acid and tubular batteries along with inverters, UPS systems, and solar storage products. The company is a top player in residential and commercial backup energy solutions.

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