Global Indian Electric Vehicle Battery Market To Record Exponential Compound

1. Market Research Report EXCLUSIVE EDITION Global Indian Electric Vehicle Battery Market Research Report Global Industry Analysis, Forecast and Trends, 2022-2030 © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

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5. Indian Electric Vehicle Battery Market 2021: Industry Size, Regions, Emerging Trends, Growth Insights, Opportunities, and Forecast By 2027 Indian Electric Vehicle Battery Market by Vehicle Type (Commercial Vehicle, Two-Wheeler, and Passenger Car), by Battery Type, (Lithium-Ion, Nickel-Metal Hydride, Lead-Acid, and Others), by Propulsion Type, Market Forecast to 2027 Description Description The Indian electric vehicle battery market is expected to grow from USD 4.1 billion in 2020 to USD 34.3 billion by 2027, at a CAGR of 42.5% from 2021 to 2027. The Indian electric vehicle battery market is expected to grow from USD 4.1 billion in 2020 to USD 34.3 billion by 2027, at a CAGR of 42.5% from 2021 to 2027. The Indian EV battery market is primarily driven by rising demand for fuel-efficient, high- performance, low-emission vehicles, and strict government emission rules and regulations. The market is also being fueled by a growing global awareness of electric vehicles. Furthermore, rising environmental concerns and increased government support will fuel the rapid expansion of electric mobility. For instance, India's government wants to have all-electric vehicles by 2030. According to the NITI Aayog, by 2030, electric vehicles will account for 70% of all commercial vehicles, 30% of private vehicles, 40% of buses, 80% of two- wheelers (2W), and three-wheeler (3W) sales © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

6. Furthermore, to keep the mobility sector afloat, market players and governments are pushing for the deployment of electric and hybrid vehicles on the road. As a result, during the forecast period, growth in the EV market is catalyzing growth in the Indian EV battery market. Get Full PDF Sample Copy of Report: https://www.marketstatsville.com/request-sample/indian-electric-vehicle-battery-market In addition, the availability of electric vehicle models, appealing purchase economics in terms of the total cost of ownership (TCO) and purchase price, e-government incentives, and convenient charging infrastructure will all influence market growth. Among these, a lack of charging infrastructure, high-speed chargers continue to be a significant impediment to the industry's growth. Various charging infrastructures are being implemented around the world to combat this. In addition, the Indian government has taken steps to support the development of charging infrastructure. For example, the government has set aside $145 million for EV charging infrastructure in FAME phase II. The fund will be allocated in a 3:4:3 ratio for the next three financial years, from April 2019 to April 2022. The government intends to build at least one charging station in a grid of 3 km x 3 km or nine sq. km in metros and other cities with more than a million people as part of the scheme. COVID-19 Impact on the Indian Electric Vehicle Battery Market COVID 19 is a global pandemic that has affected a large portion of the population. The outbreak of COVID-19 has also had a negative impact on the market's growth. The production and sale of electric vehicles were restricted in several countries, which hampered the development of the EV battery market. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

7. For example, due to the coronavirus outbreak in China, automotive industry sales fell by 79 percent in February 2020. With the spread of COVID-19 to other parts of the world, production plants and retail EV outlets were shut down. The EV industry is also being impacted by the economic slowdown, job losses, and volatile crude oil prices. However, positive, if not exponential, growth in the industry is expected in 2021. Make an Enquire before Purchase @:https://www.marketstatsville.com/buy-now/indian-electric-vehicle-battery- market?opt=2950 Since the outbreak, the federal government and state governments have implemented several encouraging policies. The government, for example, has subsidized the deployment of e-buses and charging stations on a national level. Telangana has waived road tax and registration fees for the first 200,000 two-wheelers EVs on a state level. At the same time, Gujarat will provide government subsidies to students buying two-wheeler EVs and rickshaw drivers and self-employed people buying three-wheeler EVs. Delhi also announced a progressive electric vehicle policy in 2020, including purchase incentives based on battery range and category. These initiatives are promising, but they require more streamlining and coordination between central government, state government, and local (city) government policies. Global Indian Electric Vehicle Battery Market Dynamics Drivers: Rising Government schemes and initiatives in the EV battery The Indian government has also taken steps to support the development of charging infrastructure, which is expected to drive market growth during the forecast period. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

8. For instance, the FAME 2 scheme was launched in March 2019 with a budget of Rs 10,000 crore (US$ 1.39 billion) to expand the commercial vehicle fleet. In addition, the Indian government launched a National Mission on Transformative Mobility and Battery Storage, which will run until 2024 and be a year-by-year phased manufacturing program (PMP). The government plans to create a National Mission on Transformative Transportation and Battery Storage to "promote clean, connected, and shared mobility" activities. The mission would develop a five-year phased manufacturing program (PMP) for a few large-scale, export- competitive integrated batteries in India and cell-making Giga facilities in 2024. India will require a minimum of 10 GWh of solar energy by 2022, according to the Niti Aayog, with a goal of 50 GWh by 2025. The program would also encourage local manufacturing across the entire electric vehicle value chain. Restraints: Concerns over battery safety Most electric vehicle batteries are considered safe because they are put through a series of tests before being used. However, some incidents, such as the recall of 68,000 Chevy EV Bolts following five battery-related fires, have raised concerns about the safety of these batteries. Electric vehicle batteries are made up of flammable materials like lithium, manganese, and plastics. When lithium is exposed to water, it becomes highly reactive. As a result, there are concerns about these batteries' performance and safety in hot or humid environments. Thus, the hazardous impact associated with the battery and majorly fire that occurs in the EV due to their poor battery is the factor restraining the growth of eth market. Opportunities: The increasing investment in the EV battery by public and private players © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

9. In the coming years, public and private players' rising investment in the EV battery will create lucrative market growth opportunities during the forecast period. For instance, in August 2019, Tesla and China's Contemporary Amperex Technology Co. Ltd (CATL) expressed initial interest in the Indian government's plan to build large lithium-ion battery plants with a $6.95 billion investment. India will require 6.0 gigawatt-scale plants (each with a capacity of 10GWh) by 2025 and 12 by 2030, according to the NITI Aayog. While the base scenario does not account for potential export markets, it estimates that 11 Giga plants will be operational by 2025 and 24 by 2030. Exide Industries and Leclanché formed a 75:25 joint venture to produce lithium-ion (Li-ion) cells, modules, and battery packs in Gujarat in 2019. In mid-2020, the Li-ion cell manufacturing unit began operations. In August 2018, Amara Raja Batteries approved the construction of a greenfield automobile battery plant worth US$ 99.74 million with a production capacity of 6.5 million units per year. The capacity of the plant gradually increased to 10.8 million units in October 2018. Thus, the increased investment in battery production is the factor creating a lucrative opportunity for market growth during the forecast period. Request for Complete TOC and Figures & Graphs @https://www.marketstatsville.com/table-of-content/indian-electric- vehicle-battery-market Scope of the Report The study categorizes the Indian electric vehicle battery market based on components, waste type, method, application, and region. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

10. By Vehicle Type (Revenue, USD Billion, 2017-2027) Commercial Vehicle Two-Wheeler Passenger Car By Battery Type (Revenue, USD Billion, 2017-2027) Lithium-Ion Battery Nickel-Metal Hydride Battery Lead-Acid Battery Others By Propulsion Type (Revenue, USD Billion, 2017-2027) Battery Electric Vehicles Plug-in Hybrid Electric Vehicles Hybrid Electric Vehicles By Region Outlook (Revenue, USD Million, 2017-2027) North America (US, Canada, Mexico) South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America) Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe) © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

11. Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific) The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA) The passenger car segment of the Indian electric vehicle battery market is projected to account for the largest share of vehicle type The Indian electric vehicle battery market has been segmented into commercial vehicles, two-wheelers, and passenger cars based on vehicle type. The passenger car segment accounted for the largest share in the Indian electric vehicle battery market in 2020. Government targets (target of 2023, 2028, and 2040) to introduce EV cars is the primary factor for the growth of the market during the forecast period. Key Market Players The Indian Electric Vehicle Battery market is mildly concentrated in nature with few numbers players operating in the market such 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), and Samsung SDI Company Limited (Samsung SDI Co., Ltd.), among others. The other market players include Tata AutoComp GY Batteries Private Limited, Tata Motors Limited, and Toshiba India Pvt. Ltd. These players have been adopting various winning strategies to gain higher shares or retain leading positions in the market. Request For Report Description @https://www.marketstatsville.com/indian-electric-vehicle-battery-market © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

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