India Battery Market Size & Outlook, 2025-2030
Global Market
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India battery market highlights
- The India battery market generated a revenue of USD 3,203.7 million in 2024 and is expected to reach USD 12,177.1 million by 2030.
- The India market is expected to grow at a CAGR of 25.3% from 2025 to 2030.
- In terms of segment, lithium ion was the largest revenue generating product in 2024.
- Flow Battery is the most lucrative product segment registering the fastest growth during the forecast period.
Battery market data book summary
| Market revenue in 2024 | USD 3,203.7 million |
| Market revenue in 2030 | USD 12,177.1 million |
| Growth rate | 25.3% (CAGR from 2025 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Flow Battery |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead Acid, Lithium Ion, Nickel-based, Sodium-ion, Flow Battery, Small Sealed Lead-acid Batteries |
| Key market players worldwide | BYD Co Ltd ADR, GS Yuasa Corp, Hitachi Ltd, Johnson Controls International PLC, LG Chem, NEC Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Toshiba Corporation |
Other key industry trends
- In terms of revenue, India accounted for 2.4% of the global battery market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China battery market is projected to lead the regional market in terms of revenue in 2030.
- Vietnam is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,479.2 million by 2030.
The Government of India has made considerable efforts to fuel the growth of the renewable energy market in the country. For instance, it set a target to carry out 175 GW of renewable power projects in India. Moreover, the government emphasizes the conduct of battery energy storage projects along with carrying out solar and wind power projects to ensure round-the-clock supply of power in India.
As of 2023, India was one of the leading countries in terms of EV sales in the world, along with other emerging economies. It has begun the transformation of its public transportation infrastructure to ensure the smooth plying of EVs on roads in India.
The country has been witnessing a surge in the local manufacturing of lithium-ion batteries, owing to the increased support offered by the Government of India to promote the adoption of electro mobility in the country.
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Publish Date: Apr 20, 2026
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Hitachi Ltd | View profile | 322,525 | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 | www.hitachi.com |
| Johnson Controls International PLC | View profile | 102,000 | One Albert Quay, Cork, Ireland, T12 X8N6 | www.johnsoncontrols.com |
| Panasonic Holdings Corp | View profile | 230,025 | 1006, Oaza Kadoma, Kadoma-shi, Osaka, Japan, 571-8501 | holdings.panasonic |
| Samsung Electronics Co Ltd | View profile | 124,804 | 129, Samsung-ro, Yeongtong-gu, Gyeonggi-do, Suwon-si, Korea, Republic of, 443-742 | www.samsung.com |
| NEC Corp | View profile | 118,527 | 7-1, Shiba 5-chome, Minato-ku, Tokyo, Japan, 108-8001 | www.nec.com |
| Toshiba Corporation | View profile | 10001+ | Tokyo, Tokyo, Japan, Asia | www.toshiba.com/tai/ |
| LG Chem | View profile | 10001+ | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | www.lgchem.com |
| BYD Co Ltd ADR | View profile | 703,504 | No. 3009, BYD Road, Pingshan, Guangdong Province, Shenzhen, China, People's Republic of, 518118 | www.byd.com |
| GS Yuasa Corp | View profile | 17,031 | 1, Inobanba-cho, Nishinosho, Kisshoin, Minami-ku, Kyoto, Japan, 601-8520 | www.gs-yuasa.com |
India Battery Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Battery Market Outlook will help companies and investors design strategic landscapes.
Lithium Ion was the largest segment with a revenue share of 45.99% in 2024.
Horizon Databook has segmented the India battery market based on lead acid, lithium ion, nickel-based, sodium-ion, flow battery, small sealed lead-acid batteries covering the revenue growth of each sub-segment from 2018 to 2030.
The Government of India has made considerable efforts to fuel the growth of the renewable energy market in the country. For instance, it set a target to carry out 175 GW of renewable power projects in India. Moreover, the government emphasizes the conduct of battery energy storage projects along with carrying out solar and wind power projects to ensure round-the-clock supply of power in India.
As of 2023, India was one of the leading countries in terms of EV sales in the world, along with other emerging economies. It has begun the transformation of its public transportation infrastructure to ensure the smooth plying of EVs on roads in India.
The country has been witnessing a surge in the local manufacturing of lithium-ion batteries, owing to the increased support offered by the Government of India to promote the adoption of electro mobility in the country.
- India Battery Market Product Outlook (Revenue, USD Million , 2018-2030)
- Lead Acid
- Lithium Ion
- Nickel-based
- Sodium-ion
- Flow Battery
- Small Sealed Lead-acid Batteries
- Others
- India Battery Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Aerospace
- Automobile
- Consumer Electronics
- Grid-scale Energy Storage
- Telecom
- Power Tools
- Military & Defense
- Others
- India Battery Market Application Outlook (Revenue, USD Million , 2018-2030)
- Automotive Batteries
- Industrial Batteries
- Portable Batteries
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Horizon Databook provides a detailed overview of country-level data and insights on the India Battery Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into India Battery Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
India Battery Market, 2018-2030 (US$M)
India battery market statistics, by product, 2018-2030 (US$M)
