India’s EV Battery Demand Set to Skyrocket 14-Fold by 2032: CES Report
India's electric vehicle (EV) revolution is entering a critical expansion phase. According to the newly released 2025 EV Battery Technology Review Report by Customised Energy Solutions (CES), the demand for EV batteries in India is projected to grow more than 14 times over the next seven years.
This massive surge highlights the rapid electrification of India's automotive sector, driven by policy support and advancing battery technologies.
Key Projections: From 17 GWh to 256 GWh
The report presents a bullish outlook for the domestic battery market. The key takeaways include:
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Exponential Growth : Battery demand is estimated to rise from 17.7 GWh in 2025 to a staggering 256.3 GWh by 2032.
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Strong CAGR : The market is expected to witness a Compound Annual Growth Rate (CAGR) of 35% between 2025 and 2032.
This trajectory suggests that India is on the verge of becoming a global heavyweight in the EV battery supply chain, moving beyond just assembly to full-scale consumption and manufacturing.
What is Driving the Surge?
The CES report identifies several catalysts propelling this 14-fold growth :
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Rising Fuel Costs : Traditional internal combustion engine (ICE) vehicles are becoming costlier to run, pushing consumers toward electric alternatives.
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Government Support : Initiatives like the PLI (Production Linked Incentive) schemes and FAME subsidies continue to incentivize both manufacturers and buyers.
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New Model Launches : Automakers are aggressively rolling out affordable EV models across two-wheeler, three-wheeler, and passenger vehicle segments.
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Infrastructure Growth : The rapid expansion of charging networks is reducing range anxiety, boosting consumer confidence.
Technological Shifts: The Rise of LFP and Sodium-Ion
Crucial to this growth is the evolution of battery chemistry. The report highlights that Lithium Iron Phosphate (LFP) batteries are becoming the dominant technology due to their safety and cost-efficiency.
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Enhanced Energy Density : Newer generations of LFP cells are now crossing energy densities of 300 Wh/kg, allowing for longer driving ranges.
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Emerging Tech : The industry is also seeing a shift toward Sodium-ion and solid-state batteries. These technologies promise to further lower costs and reduce dependency on scarce raw materials like lithium and cobalt.
Vinayak Walimbe, Managing Director of Customised Energy Solutions, noted that these advancements in battery chemistry are central to India's push for affordable and safe electric mobility.
The Road Ahead
With a projected demand of over 250 GWh by 2032, the Indian auto industry faces a "decisive moment." For investors and stakeholders, the focus must now shift to scaling up domestic battery manufacturing capacity to meet this explosive demand and reduce reliance on imports.