New Delhi, May 14 India’s electric vehicle battery demand is projected to surge 10-fold from 20 GWh in 2025 to 200 GWh by 2032, which could shift strategic gains toward component localisation and supply‑chain development, a report said on Thursday.
The report from industry body India Energy Storage Alliance (IESA) said the market is approaching an inflection point as policy‑led adoption matures into a broad industrial ecosystem encompassing batteries, motors, power electronics, advanced chemistries, localised manufacturing, and robust supply chain investments.
The report said that “India EV & EV Component Market Outlook 2025‑2034,” will be released at India Energy Storage Week 2026 to be held July 8–10, 2026, at Yashobhoomi (IICC), here.
The event is expected to host over 200 exhibitors and more than 10,000 industry leaders from across the globe and showcase cutting-edge innovations in e-mobility, recycling, and supply chain localisation.
“With India’s EV market entering an era of unprecedented growth and battery demand projected to rise tenfold by 2032, the industry’s next leap will be driven by localisation, advanced chemistry, and resilient supply chains,” said Debmalya Sen, President of India Energy Storage Alliance (IESA).
The report highlighted that India’s EV sales crossed 2.5 million units in 2025, including 1.5 million electric two-wheelers and 0.7 million electric three-wheelers.
While electric two-wheelers continue to lead volumes, the next phase of growth is expected from passenger electric cars and light commercial fleets, the report noted.
India’s electric four-wheeler market is expected to grow significantly, buoyed by improved battery economics, expanding charging infrastructure, wider OEM participation, and growing consumer acceptance.
Electrification of commercial mobility is also accelerating, particularly in urban logistics, public transport, and fleet operations, where total cost of ownership (TCO) advantages is increasingly compelling.
Vinayak Walimbe, Managing Director of Customized Energy Solutions, said that the EV market’s evolution from policy to industry is opening new frontiers for component manufacturing and supply chain innovation.
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