India Battery Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Growth Rate: 8.4% (2025-2033)

The India battery market is experiencing robust growth, driven by the rising demand for energy storage solutions across sectors such as automotive, renewable energy, and consumer electronics. According to the latest report by IMARC Group, The India battery market size reached USD 7.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 14.9 Billion by 2033, exhibiting a growth rate (CAGR) of 8.4% during 2025-2033.

India Battery Industry Trends and Drivers:

India's battery market is growing fast. This rise is mainly due to the increasing need for energy storage across various sectors. The rapid shift to electric vehicles (EVs) is a key factor. Government programs, like the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme, help this change. At the same time, there is a push to use more renewable energy sources, such as solar and wind. This creates a need for reliable battery systems to store energy and keep the grid stable. The expanding telecommunications sector and the rising demand for steady power in industries also support market growth. Additionally, the booming consumer electronics market drives the need for portable batteries.

Several key factors are shaping India's battery market. First, the declining costs of lithium-ion batteries make them more affordable for many uses. This trend boosts market growth. The government promotes local manufacturing with the Production Linked Incentive (PLI) scheme. This attracts investments and lowers reliance on imports. Battery tech is advancing. These improvements boost energy density, speed up charging, and enhance safety. As a result, products become more appealing. Additionally, growing consumer awareness of environmental issues drives the adoption of battery-powered solutions. Research and development, plus partnerships between local and global companies, drive innovation. They help bring advanced battery technologies to market.

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India Battery Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

Breakup by Product:

Breakup by Application:

Breakup By Region:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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