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Sale of Electric Vehicles in India Projected to Go Up 10x in the Next Two Decades
Jun 25, 2019


Globally, the need for fuel efficient transportation and cleaner fuel will be big drivers for demand of electric vehicle.

So, the global battery market is expected grow at 4.2% per annum by 2022.

In the next few years, the demand for lithium ion batteries from automotive and industrial sector is expected to be a big tailwind. Apart from auto, the batteries are expected to find wider application in communication, energy and railways.

So, the Indian battery market is projected to annually grow at 16.5% till 2022.

Note that this is four times the global growth rate.

The Indian domestic battery industry, however, has a different story. It is a virtual duopoly with two companies controlling over 90% of the organized battery market.

Even if the share of the unorganized players do not fall sharply from here, the two players in the duopolistic battery sector have a lot to gain.

Data Source: electricvehicals.in

This Chart Of The Day was published in The 5 Minute WrapUp - One Stock that Will Gain from the Electric Vehicle Disruption

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