India Electric Vehicle Battery Market 2021: Industry Trends, Analysis, Growth, Scope and Forecast 2026

According to the latest report by IMARC Group, titled "India Electric Vehicle Battery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the india electric vehicle battery market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 30% during 2021-2026.

Historical: 2015-2020

Base Year: 2020

Forecast Year: 2021-2026

Download free sample of the report: https://www.imarcgroup.com/india-electric-vehicle-battery-market/requestsample

India Electric Vehicle Battery Market Industry Definition and Application:

An electric vehicle (EV) battery represents an energy storage device that is generally installed in plug-in hybrid electric vehicles, battery electric vehicles (BEV), and hybrid electric vehicles (HEV). Some of the common product variants include lithium-ion batteries, nickel-metal hydride batteries, lead-acid batteries, etc. EV batteries offer various benefits, such as a high power-to-weight ratio, noise-free travel experience, zero carbon emissions, low maintenance expenses, cost-effectiveness, etc. In line with this, they also assist in producing high energy per unit mass and mitigating fuel dependency. Consequently, electric vehicles are gaining traction over conventional gasoline-powered automobiles across India.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

India Electric Vehicle Battery Market Trends and Drivers:

The increasing consumer concerns towards the harmful impact of fuel-based vehicles on the environment are primarily driving the India electric vehicle battery market. Additionally, the development of numerous customizable options for EV batteries that are used in trucks, busses, loaders, excavators, vans, etc., is propelling the product demand across several sectors, such as logistics, construction, transportation, mining, etc. Besides this, the launch of various favorable policies by government bodies for encouraging the adoption of electric vehicles to reduce carbon emissions is further augmenting the market growth. Moreover, the inflating need for electrification of public transport fleets in this country is acting as another significant growth-inducing factor. Apart from this, the rising number of car rental services, such as Ola, Uber, Meru, etc., is anticipated to fuel the India electric vehicle battery market over the forecasted period.

India Electric Vehicle Battery Market Segmentation:

The report has segmented the market on the basis on region, battery type, propulsion type, vehicle type.

Breakup by Battery Type:

Lithium-Ion Battery
Nickel-Metal Hydride Battery
Lead-Acid Battery
Others

Breakup by Propulsion Type:

Battery Electric Vehicles
Plug-in Hybrid Electric Vehicles
Hybrid Electric Vehicles

Breakup by Vehicle Type:

Passenger Car
Commercial Vehicle
Two-Wheeler

Breakup by Region:

North India
West and Central India
South India
East India

Who are the Major India Electric Vehicle Battery Market Key players?

Amar Raja Batteries Limited, Exicom Tele-Systems Limited, Exide Industries Ltd, Hero Electric Vehicles Pvt. Ltd., Okaya Power Pvt. Ltd., Panasonic India Private Limited (Panasonic Corporation), Samsung SDI Company Limited (Samsung SDI Co., Ltd.), Tata AutoComp GY Batteries Private Limited, Tata Motors Limited and Toshiba India Pvt. Ltd.

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