India’s battery recycling market is projected to grow from $603.9 million in 2025 to $1.32 billion by 2034, driven by the rapid adoption of electric vehicles, stricter battery waste regulations and the growing need to recover critical minerals such as lithium, cobalt and nickel.
The market is expected to expand at a compound annual growth rate of 8.65% between 2026 and 2034.
Lead acid batteries currently dominate India’s recycling market, accounting for 46.8% of the sector in 2025. However, lithium-ion batteries, which held a 32.4% share, are expected to witness faster growth due to rising EV sales, increasing e-waste and expanding energy storage systems.
The automotive sector accounted for the largest share of battery recycling demand, followed by industrial and electronic sources.
The sector, however faces challenges including competition from the informal recycling industry and the high investment required for advanced recycling facilities. Companies are increasingly focusing on hydrometallurgical processing, second-life battery applications and partnerships with automobile manufacturers.
Among the companies identified as players in India’s battery recycling and related resource recovery sector are Gravita India, Pondy Oxides & Chemicals, Nile Ltd, Exide Industries and Namo eWaste Management.
The growth of the sector is also being supported by the Battery Waste Management Rules, extended producer responsibility regulations and government initiatives promoting electric mobility.