Battery Market Analysis

Product Type Segment Analysis

In the battery market lithium-ion segment of product type is expected to attain the largest revenue share of 90.5% during the forecast duration. The superior energy density, established global supply chains, and relentless innovation are the key factors propelling the dominance of this subsegment. Also, its numerous applications in EVs and stationary storage are supporting continuous growth across the subtype. In September 2025, the Ministry of Electronics & IT announced that it had inaugurated TDK Corporation’s advanced lithium-ion battery manufacturing plant in Sohna, Haryana, marking a major milestone in India’s push toward electronics self-reliance. It also mentioned that the facility will produce 20 crore battery packs on a yearly basis, meeting 40% of national demand while strengthening the domestic supply chain for mobile devices and wearables.

Application Segment Analysis

The automotive segment is likely to attain a significant share of 75.4% in the battery market by the end of 2035. The electric vehicles are the key growth engine for this, wherein the market is efficiently augmented by stringent government emissions regulations and consumer incentives. In September 2025, Ashok Leyland announced that it had invested in next-generation battery development and manufacturing for both automotive and energy storage applications. The company also stated that it has entered a long-term exclusive partnership with CALB Group of China to localize battery production, supporting its own EV lineup as well as demand across the broader mobility and storage sectors. Furthermore, investments were planned for over ₹5,000 crore (USD 600 million) and the creation of a global centre of excellence, wherein the company aims to advance innovation in battery materials, recycling, and manufacturing.

End Use Segment Analysis

In terms of end use stationary energy storage segment is predicted to gain a lucrative share in the battery market during the analyzed timeframe. The global transition to renewable energy is the key factor behind this leadership. Utilities and grid operators are integrating higher levels of variable wind and solar power, where large-scale battery storage is highly essential for grid stability, frequency regulation, and shifting energy to peak demand hours. Also, the subtype plays a pivotal role in enhancing grid resilience and reliability, encouraging significant investment in battery storage projects to support a decarbonized power sector. Furthermore, the growing policy support and declining battery costs accelerate deployment, positioning stationary storage as a central pillar of future energy infrastructure.

Our in-depth analysis of the battery market includes the following segments: