India’s battery market had a market value of USD 12.68 billion in 2025 and is estimated to be worth USD 14.01 billion in 2026. The market is expected to reach USD 23.30 billion by 2031, growing at a CAGR of 10.71% during 2026-2031. Demand is rising because of electric vehicles, automotive replacement batteries, telecom and data-centre backup, rooftop solar, renewable-energy storage and fresh investment in domestic cell manufacturing. Lead-acid batteries still hold an important place, but lithium-ion and other advanced chemistries are expanding quickly as India’s mobility and energy-storage needs change.
A battery manufacturing company may produce everything from automotive and inverter batteries to industrial storage systems, lithium-ion cells, battery packs and energy-storage solutions. In India, older manufacturers are expanding beyond conventional lead-acid products while newer companies are building capabilities around EVs, battery-management systems and advanced cells. Distribution reach, manufacturing capacity, technology, service support and the ability to serve different applications all matter in this industry. With demand rising across both traditional and next-generation segments, several Indian manufacturers have developed a strong position in the market. Let us look at the top 10 battery manufacturing companies in India in 2026 and what makes each of them important.
1. Exide Industries Limited
Exide Industries is one of India’s best-known battery manufacturers and has a long-established position in automotive and industrial batteries. Its products serve cars, two-wheelers, commercial vehicles, telecom, railways, power backup and other industrial applications. The company is also investing heavily in lithium-ion cell manufacturing through Exide Energy Solutions, making it important in both the traditional and next-generation battery markets.
What stands out:
- Strong nationwide automotive replacement network
- Large presence in lead-acid industrial batteries
- Expanding into lithium-ion cells and energy storage
2. Amara Raja Energy & Mobility Limited
Amara Raja, widely associated with the Amaron brand, is another major force in India’s automotive battery business. The company has been broadening its identity from lead-acid batteries to a wider energy and mobility platform. Its investments in a lithium-ion cell gigafactory and battery-pack technologies are aimed at EV, stationary-storage and industrial customers while its conventional battery business remains substantial.
Where it is strong:
- Amaron is a major automotive battery brand
- Building lithium-ion cell and pack capabilities
- Serves mobility, telecom and industrial applications
3. Luminous Power Technologies
Luminous is particularly strong in home and small-business power backup. The company manufactures inverter batteries, inverters, solar products and energy solutions, giving it a different profile from manufacturers focused mainly on vehicle batteries. Its large retail reach makes the brand visible in both urban and smaller Indian markets, where dependable backup power and rooftop solar remain important demand drivers.
A quick look:
- Well known for inverter and home-backup batteries
- Growing solar and residential energy solutions portfolio
- Extensive dealer and service reach across India
4. HBL Engineering Limited
HBL Engineering, formerly HBL Power Systems, operates in specialised battery segments where reliability matters more than mass-market branding. It supplies batteries and power-electronics products for railways, defence, telecom, aviation and industrial use. Its work with specialised chemistries and mission-critical applications gives the company a distinctive place in India’s battery manufacturing ecosystem.
Its main strengths:
- Focus on specialised and industrial battery systems
- Presence in railways, defence and telecom
- Strong engineering-led rather than retail-led business model
5. Tata AutoComp GY Batteries
Tata AutoComp GY Batteries is a joint venture associated with Tata AutoComp Systems and GS Yuasa. It manufactures automotive batteries under the Tata Green Batteries brand and caters to passenger vehicles, commercial vehicles, tractors and two-wheelers. The company benefits from the wider Tata automotive ecosystem while also serving the replacement market through its distribution network.
Why it matters:
- Automotive focus across several vehicle categories
- Tata Green is the company’s consumer-facing battery brand
- Backed by automotive manufacturing and battery technology expertise
6. Okaya Power
Okaya has built a broad presence across inverter, solar, automotive and industrial batteries. Over the years, the company has also expanded into lithium battery packs and energy-storage applications. Its strength lies in serving multiple power-backup needs instead of depending on a single end-use market, which has helped it remain relevant as households and businesses shift toward solar and newer storage technologies.
What to know:
- Portfolio spans inverter, solar and automotive batteries
- Active in lithium battery packs and storage
- Strong presence in the power-backup segment
7. Panasonic Energy India
Panasonic Energy India has long been associated with dry-cell batteries used in everyday consumer devices. Its manufacturing presence gives it a place in the primary-battery segment, which continues to serve remotes, clocks, toys, torches and other household products even as rechargeable technologies expand. The company combines an established consumer category with the manufacturing standards of the wider Panasonic group.
Key areas:
- Established dry-cell battery manufacturer
- Products used across common household devices
- Benefits from Panasonic’s long-standing consumer-electronics presence
8. Eveready Industries India
Eveready is one of the most familiar battery names in Indian households. Dry-cell batteries remain central to its business, alongside flashlights and lighting products. The company has also been investing in alkaline battery manufacturing in India, reflecting a push toward higher-value battery formats while retaining the broad retail distribution that made the brand widely recognised.
Its market presence:
- Deep reach in India’s consumer battery market
- Major presence in zinc-carbon and alkaline batteries
- Extensive general-trade and modern-retail distribution
9. Indo National Limited
Indo National manufactures batteries under the Nippo brand and has decades of experience in the dry-cell market. The company is known mainly for consumer batteries used in low- and medium-drain devices, while its wider portfolio also includes lighting and electrical products. Its continued presence shows that primary batteries remain a meaningful part of India’s overall battery demand.
What defines the company:
- Nippo is an established Indian dry-cell brand
- Strong focus on household consumer batteries
- Long operating history in India’s battery sector
10. GODI India
GODI India represents the newer side of the industry. The Hyderabad-based company works on lithium-ion cell technology, battery materials and advanced energy-storage solutions, with an emphasis on domestic cell development. It is much smaller than India’s legacy battery manufacturers, but it is notable because local cell technology and manufacturing are becoming strategically important as EV and stationary-storage demand rises.
At a glance:
- Focus on lithium-ion cell technology
- Part of India’s emerging advanced-cell manufacturing ecosystem
- Targets EV and stationary energy-storage applications
Conclusion
India’s battery market is no longer defined by one chemistry or one customer group. Exide and Amara Raja remain powerful established manufacturers, while Luminous, HBL, Tata Green, Okaya and consumer-battery brands serve different parts of the market. At the same time, companies such as GODI India show where domestic cell technology is heading. The next phase of competition will depend on manufacturing scale, recycling, raw-material security, safety and the ability to move from conventional batteries into advanced storage. That is also why this list should not be read as a simple size ranking. A company that is strong in automotive replacement may not be the natural choice for grid storage or consumer dry cells. In 2026, the most interesting competitive question is how quickly India’s established battery makers can add advanced chemistries while protecting the distribution and service strengths that made them successful in conventional batteries.
