India Battery Market Overview, 2029

India, with a population exceeding 1.4 billion, is the second-most populous country in the world and is divided into 28 states and 8 Union Territories. Major regions include Northern India, with prominent states like Uttar Pradesh and Punjab, known for their agricultural output and historical cities; Western India, including Gujarat and Maharashtra, which are economic powerhouses with thriving industries and major ports; Southern India, with states like Tamil Nadu and Karnataka, renowned for technology hubs and cultural heritage; and Eastern India, including West Bengal and Odisha, which focus on heavy industries and agriculture. India's vehicle market is diverse, featuring a significant number of two-wheelers, which are popular due to their affordability and fuel efficiency, alongside a growing demand for cars and commercial vehicles. The country is also witnessing a rise in electric vehicles (EVs) driven by government incentives and environmental concerns. In technology, India is a global leader in IT services and software development, with major technology parks in cities like Bengaluru and Hyderabad. The industrial sector is broad, encompassing textiles, pharmaceuticals, automotive manufacturing, and information technology, reflecting India's role as a major player in both domestic and global markets. According to the research report "India Batteries Market Overview, 2029," published by Bonafide Research, the India batteries market is anticipated to grow at more than 12.93% CAGR from 2024 to 2029. The market is expanding as a result of the depletion of natural resources, the rise in carbon emissions, and the on-going efforts made by the public and commercial sectors to cut emissions and minimize fuel use. Government carbon emission rules are anticipated to boost the country's industrial battery market shares by increasing the use of lithium-ion batteries. To lower operating costs and boost industrial battery output, manufacturers create better solutions, a range of equipment for particular needs, and enhanced technology and fuel economy. In order to lower operating costs and increase the productivity of industrial batteries, manufacturers create better solutions and a variety of equipment for particular needs, along with increased technology and fuel economy.

The market is divided into two categories of batteries, primary and secondary, according to the report. The secondary segment is the one that is expected to lead the market during the forecast period among these categories. In India, the growth of secondary and primary batteries reflects the evolving needs and advancements in technology across various sectors. Secondary batteries, particularly lithium-ion batteries, are experiencing significant expansion due to the rise of electric vehicles (EVs) and renewable energy storage solutions. The Indian government’s push towards cleaner transportation and energy efficiency, coupled with incentives for EV adoption and investment in energy storage infrastructure, is driving demand for lithium-ion technology. This growth is further supported by advancements in battery technology, improving performance and reducing costs. In contrast, primary batteries, which are non-rechargeable, maintain a steady demand in consumer electronics, including remote controls, clocks, and low-drain devices. The market for primary batteries is relatively stable but faces competition from rechargeable alternatives due to environmental concerns and long-term cost considerations. Lead-acid, lithium-ion, and nickel-based batteries are among the various battery types available in the Indian market; each serves a unique purpose and has a unique growth pattern. Lead-acid batteries find extensive usage in automotive applications, specifically in conventional automobiles for starting, lights, and ignition (SLI), as well as in backup power systems and uninterruptible power supplies (UPS). Even when newer technologies compete with them, their price and dependability guarantee their sustained need. The rising use of electric vehicles (EVs) and the development of renewable energy storage systems are driving significant growth in lithium-ion battery production. As a result of government programs encouraging EVs and greener energy sources, lithium-ion batteries are becoming an increasingly important part of India's energy revolution. There are specific uses for nickel-based batteries, such as nickel-metal hydride (NiMH) and nickel-cadmium (NiCd), especially in hybrid cars and specialized industrial machinery. They nevertheless have value for some applications even though their market share is lower than that of lithium-ion batteries. Batteries are essential in many different industries in India, which reflects the nation's varied economic and technological environment. Automotive applications are important. Conventional automobiles' starting, lighting, and ignition (SLI) systems are typically powered by lead-acid batteries. On the other hand, there is a growing trend toward electric cars (EVs), and because of their higher energy density and efficiency, lithium-ion batteries are being utilized more and more in EVs. Government programs and incentives that lower emissions and promote clean energy are supporting this change. Another crucial use is energy storage, where batteries are essential for integrating renewable energy sources like solar and wind into the grid and guaranteeing a steady and dependable supply of power. Lithium-ion batteries are used in consumer electronics to power a variety of gadgets, such as laptops, tablets, and smartphones, demonstrating the growing need for lightweight, effective energy sources. Batteries are also used in industrial applications to power backup power systems, which maintain vital infrastructure operations. Advanced batteries are also used in medical equipment and smart home technologies, demonstrating India's technological and innovative prowess. COVID-19 Impacts: Lockdowns and restrictions led to halted production and reduced consumer spending, affecting the overall growth of the battery sector. However, the pandemic also accelerated certain developments. The rise in remote work and online activities increased demand for batteries in consumer electronics, such as smartphones and laptops, as people sought to stay connected and productive from home. Government initiatives to promote cleaner energy and EV adoption remained a focal point despite the pandemic, helping sustain long-term growth prospects in the battery market. Considered in this report • Geography: India • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • India Batteries market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

By Type • Primary • Secondary By Technology • Lead acid • Lithium ion • Nickel metal hybrid • Nickel cadmium • Others By Application • Automotive Batteries • Industrial Batteries • Portable Batteries The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the battery manufacturers, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.