India Electric Vehicle Battery Market Share, Size, Growth and Forecast 2023-2028

The latest report by IMARC Group, titled "India Electric Vehicle Battery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The India electric vehicle battery market is expected to exhibit a growth rate (CAGR) of 27% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

An electric vehicle (EV) battery is a power storage device that supplies electricity to an electric engine that propels the vehicle. It offers various advantages, such as a high power-to-weight ratio, silent driving experience, zero carbon footprint, minimal maintenance, and cost-efficiency. As EV battery reduces dependence on fuel and delivers a high amount of energy per unit of mass, it is gaining immense traction in EVs across India.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/india-electric-vehicle-battery-market/requestsample

India Electric Vehicle Battery Market Trends and Drivers:

Presently, the growing population and rising disposable incomes are catalyzing the production of automobiles in India. This represents one of the key factors positively influencing the market. In line with this, the increasing adoption of EV batteries in vehicles used for construction, transportation, logistics, and mining industries is offering lucrative growth opportunities for key market players. Moreover, rising environmental concerns and increasing awareness about the harmful effects of fuel-based vehicles in the atmosphere are strengthening the market growth. Apart from this, the Government of India (GOI) is focusing on the electrification of public transport and promoting the adoption of EVs by providing subsidies, which is creating a positive market outlook. Furthermore, the growing number of car rental services is stimulating the growth of the market in the country.

Report Segmentation:

The report has segmented the market into the following categories:

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 Vehicles
Two-Wheeler

Breakup by Region:

North India
West and Central India
South India
East India

Competitive Landscape with Key Player:

Amara Raja Batteries Limited
Exicom Tele-Systems Limited
Exide Industries Ltd.
Okaya Power Pvt. Ltd.
Panasonic India Private Limited (Panasonic Corporation)
Samsung SDI Company Limited
TataAutoComp GY Batteries Private Limited
Toshiba India Pvt. Ltd.

Explore full report with table of contents: https://www.imarcgroup.com/india-electric-vehicle-battery-market

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

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This release was published on openPR.