Battery Industry In India Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Indian Battery Market Report is Segmented by Technology (Lithium-Ion Battery, Lead-Acid Battery, and Other Technologies) and by Application (SLI Batteries, Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), Etc. ), Portable (Consumer Electronics, Etc. ), Automotive Batteries (HEV, PHEV, and EV), and Other Applications). The Report Offers Market Size and Forecasts in Revenue (USD) for the India Battery Market in Revenue for all the Above Segments.

India Battery Market Size

India Battery Market Summary
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India Battery Market Analysis

The India Battery Market size is estimated at USD 12.68 billion in 2025, and is expected to reach USD 20.97 billion by 2030, at a CAGR of 10.59% during the forecast period (2025-2030).

  • Over the medium term, supportive government initiatives and policies to adopt renewable energy, along with the declining cost of lithium-ion batteries, are expected to drive the market. These measures not only promote the use of clean energy but also make energy storage solutions more affordable and accessible.
  • On the other hand, the demand-supply mismatch of raw materials poses a significant restraint during the forecast period. 
  • Nevertheless, the shift toward lithium-ion batteries in the material handling industry, along with technology advancements in lithium-ion batteries, presents significant opportunities for India's battery market. These developments not only enhance the efficiency and sustainability of industrial operations but also drive innovation in battery technology. As the industry evolves, these opportunities are expected to foster substantial growth and investment in India's battery market.

India Battery Industry Overview

The Indian battery market is fragmented. Some of the major players in the market (in no particular order) include Exide Industries Ltd and Luminous Power Technologies Pvt. Ltd, HBL Power Systems Ltd, TATA AutoComp GY Batteries Pvt. Ltd, and Amara Raja Energy & Mobility Limited.

India Battery Market Leaders

  1. Exide Industries Ltd

  2. Luminous Power Technologies Pvt. Ltd.

  3. HBL Power Systems Ltd

  4. TATA AutoComp GY Batteries Pvt. Ltd.

  5. Amara Raja Energy & Mobility Limited

  6. *Disclaimer: Major Players sorted in no particular order
India Battery Market Concentration
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India Battery Market News

  • January 2025: Mahindra unveiled a cutting-edge manufacturing and battery assembly facility at its Chakan plant, marking a significant step in its commitment to producing Electric Origin SUVs. Boasting one of the world's most compact battery manufacturing lines, the facility employs patented processes and lean module assembly. This fully automated plant harnesses indigenously developed world-class manufacturing processes, leveraging Industry 4.0 technology to produce, store, and transfer high-performance, long-lasting batteries.
  • December 2024: LG Energy Solution of South Korea is negotiating with India's JSW Energy to establish a joint venture for manufacturing batteries aimed at electric vehicles and renewable energy storage, with a projected investment exceeding USD 1.5 billion. According to a source, the two firms have inked a preliminary agreement to create an equal partnership. In this arrangement, LGES will provide the technology and equipment for battery production, while JSW will inject the necessary capital. The talks also encompass the establishment of a plant in India, boasting a total capacity of 10 gigawatt hours. Of this, JSW is poised to allocate approximately 70 percent for energy storage and electric vehicles, with contributions from LGES as well.

India Battery Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD, till 2030
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.1.1 Supportive Government Initiatives And Policies to Adopt Renewable Energy
    • 4.5.1.2 Declining Cost of Lithium-ion Batteries
    • 4.5.2 Restraints
    • 4.5.2.1 Demand-supply Mismatch of Raw Materials
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis
  • 4.8 Investment Analysis

5. MARKET SEGMENTATION

  • 5.1 Technology
    • 5.1.1 Lithium-ion Battery
    • 5.1.2 Lead-acid Battery
    • 5.1.3 Other Technologies
  • 5.2 Application
    • 5.2.1 SLI Batteries
    • 5.2.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS)), Etc.)
    • 5.2.3 Portable (Consumer Electronics, Etc.)
    • 5.2.4 Automotive Batteries (HEV, PHEV, and EV)
    • 5.2.5 Other Applications

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted & SWOT Analysis for Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Exide Industries Ltd.
    • 6.3.2 Luminous Power Technologies Pvt. Ltd
    • 6.3.3 HBL Power Systems Ltd
    • 6.3.4 TATA AutoComp GY Batteries Pvt. Ltd
    • 6.3.5 Okaya Power Pvt. Ltd
    • 6.3.6 Amara Raja Energy and Mobility Ltd
    • 6.3.7 Su-Vastika Systems Private Limited
    • 6.3.8 iPower Batteries Pvt. Ltd.
    • 6.3.9 Trontek Electronics Pvt. Ltd.
    • 6.3.10 Evolute Solutions Pvt. Ltd.
  • *List Not Exhaustive
  • 6.4 List of Other Prominent Companies
  • 6.5 Market Ranking/Share (%) Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Shift Toward Li-ion Batteries In The Material Handling Industry
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India Battery Industry Segmentation

A battery is a device that converts chemical energy contained within its active materials directly into electric power using an electrochemical oxidation-reduction (redox) reaction.

The Indian battery market is segmented by technology and application. By technology, the market is segmented into lead-acid batteries, lithium-ion batteries, and other technologies. By application, the market is segmented into automotive batteries (HEV, PHEV, and EV), industrial batteries (motive, stationary, (telecom, UPS, energy storage systems (ESS)), etc.), portable batteries (consumer electronics, etc.), SLI batteries, and other applications. Market sizing and forecasts are done for each segment based on revenue (USD).

Technology Lithium-ion Battery
Lead-acid Battery
Other Technologies
Application SLI Batteries
Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS)), Etc.)
Portable (Consumer Electronics, Etc.)
Automotive Batteries (HEV, PHEV, and EV)
Other Applications
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India Battery Market Research FAQs

How big is the India Battery Market?

The India Battery Market size is expected to reach USD 12.68 billion in 2025 and grow at a CAGR of 10.59% to reach USD 20.97 billion by 2030.

What is the current India Battery Market size?

In 2025, the India Battery Market size is expected to reach USD 12.68 billion.

Who are the key players in India Battery Market?

Exide Industries Ltd, Luminous Power Technologies Pvt. Ltd., HBL Power Systems Ltd, TATA AutoComp GY Batteries Pvt. Ltd. and Amara Raja Energy & Mobility Limited are the major companies operating in the India Battery Market.

What years does this India Battery Market cover, and what was the market size in 2024?

In 2024, the India Battery Market size was estimated at USD 11.34 billion. The report covers the India Battery Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Battery Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

India Battery Industry Report

The battery market in India is witnessing substantial growth, with an increasing market share driven by the rising demand for consumer electronics and the emergence of electric vehicles (EVs). The market, segmented into primary and secondary batteries, is seeing a surge in demand for rechargeable batteries such as lithium-ion and alkaline cells, which are extensively used in devices like smartphones, laptops, and digital cameras. The booming demand for these electronics, coupled with the presence of regional automobile manufacturers and government initiatives to increase EV adoption, is propelling the battery market size in India. However, the market faces challenges due to concerns regarding battery safety and improper disposal practices. Despite these hurdles, the introduction of innovative technologies like Nano-Diamond Batteries (NDBs) is creating new opportunities in various sectors, including automotive, aerospace, and electronics. The battery market is further segmented by type, application, and power systems, encompassing a wide range of products and uses. The increasing demand for electric vehicles and the emergence of new markets like battery energy storage systems are expected to further drive the battery market share and size in India. This market forecast outlook and historical overview are part of the comprehensive industry analysis provided by Mordor Intelligenceā„¢ Industry Reports. A sample of this industry analysis is available as a free report PDF download, offering insights into the battery market's revenue growth rate and other key statistics.

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Battery Industry In India Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)