Press release
India Electric Vehicle Battery Market is Projected to reach USD 963 million in 2026
India Electric Vehicle Battery Market
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The key factors bolstering the growth of the India Electric Vehicle Battery market are rising environmental concern and government initiative to reduce carbon emission by incentivizing electric vehicles. In addition, increasing innovation in battery technology, rising raw material supply coupled with the reduction in battery prices every year growing is driving the electric vehicles battery market growth. Reduction in GST rate and government subsidy for commercial electric vehicle purchases are also propelling the growth of the electric vehicle battery market.
Battery Capacity, Greater than 15 kWh segment is expected to grow at the fastest CAGR during the forecast period. Greater than 15 kWh battery capacity segment is expected to grow at the fastest CAGR during the forecast period due to the growing demand for high range electric vehicles along with demand for high speed.
Battery Electric Vehicle (BEV) segment is expected to grow at the fastest CAGR during the forecast period. Battery Electric Vehicle (BEV) segment holds the largest market share in 2018 and is expected to grow at the fastest CAGR during the forecast period as a share of BEV is expected to increase owing to a rise in the number of BEV models launches.
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The India Electric Vehicle Battery market has been segmented based on battery type, vehicle type, battery capacity, and application. Based on the battery type, the India Electric Vehicle Battery market has been segmented into li-on and lead-acid. Li-ion battery is further segmented into Lithium Nickel Manganese Cobalt Oxide, Lithium Manganese Oxide, Lithium Iron Phosphate, and others. Based on the vehicle type, the market has been segmented into two-wheeler, three-wheeler, and four-wheeler. Based on the application, the market has been segmented into battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles. Based on Battery Capacity, the market is segmented into less than 5 kWh, between 5 and 15 kWh and greater than 15 kWh.
India Electric Vehicle Battery market share is divided by some of the key players, including, Hero Electric Vehicles Pvt. Ltd, Exide Industries Ltd, Amara Raja Batteries Ltd, Suzuki Corporation, Exicom Power Solutions, Samsung SDI Co. ltd., Trontek Group, Panasonic Corporation, Denso Corporation, Tata Motors and among others.
India Electric Vehicle Battery Market: https://www.marketwatch.com/press-release/india-electric-vehicle-battery-market-growing-at-a-high-cagr-of-253-during-2019-26-gmi-research-2019-11-06?mod=mw_quote_news
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