India EV Battery Cooling Market Report, Size, Share, Opportunities, and Trends Segmented By Cooling Type, Battery Type, and Vehicle Type – Forecasts from 2025 to 2030

Description

India EV Battery Cooling Market Size:

The India EV Battery Cooling Market is expected to witness robust growth over the forecast period.

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The proliferation of electric vehicles in India presents a complex engineering challenge: managing the thermal integrity of high-density battery packs. Battery cooling is an operational imperative, directly influencing a vehicle’s range, charging speed, and long-term battery health. India's diverse and often extreme climatic conditions, from sweltering summers to cooler winters, necessitate robust and adaptable thermal management systems. The demand for these cooling solutions is not a secondary market trend but a foundational requirement for the viability and safety of the nation's burgeoning EV fleet.

India EV Battery Cooling Market Analysis

• Growth Drivers

The market's expansion is fundamentally tied to the growth of India’s EV sector. This growth is driven by rising vehicle sales, which directly increases the demand for cooling systems. For example, in October 2024, India's EV sales reached a record high of 217,716 units, with significant contributions from electric two-wheelers and four-wheelers. Each of these units requires a battery cooling solution, whether it is a simple air-cooled system for a low-power scooter or a more complex liquid-cooled system for a passenger car. The government’s initiatives, such as the FAME scheme, provide subsidies that reduce the purchase price of EVs, thereby accelerating their adoption and, in turn, increasing the volume of cooling systems required by manufacturers. The Production Linked Incentive (PLI) scheme for Advanced Chemistry Cell (ACC) battery storage further propels this demand by encouraging local manufacturing of battery packs, which must incorporate thermal management from the design stage to meet safety and performance standards.

• Challenges and Opportunities

The primary challenge facing the market is the technical complexity of integrating battery coolants with diverse battery chemistries and materials. Ensuring a coolant’s effectiveness without causing corrosion or leaks is a critical concern for manufacturers. This compatibility issue mandates extensive R&D, which can increase the overall cost of development and production. Additionally, the fragmented nature of the EV market, with a wide array of vehicles ranging from low-speed e-rickshaws to high-performance passenger cars, presents a challenge for standardizing cooling solutions.

However, these challenges also create opportunities. The need for advanced, high-performance coolants and systems for high-density batteries in electric buses and four-wheelers presents a significant growth opportunity. The market for sophisticated liquid cooling systems and direct immersion cooling technologies is emerging as a result. Furthermore, the push for indigenous manufacturing under government schemes creates a clear opportunity for local component suppliers to develop tailored, cost-effective cooling solutions that meet India’s specific climate and road conditions, reducing reliance on global supply chains.

• Raw Material and Pricing Analysis

The Indian EV battery cooling market involves the production of physical components, including coolants, heat exchangers, pumps, and hoses. The pricing dynamics of these products are directly influenced by the cost and availability of raw materials. Coolants are often a blend of water and glycol, with additives. The price of glycol, a petrochemical derivative, is subject to global oil market volatility. Similarly, the cost of materials for heat exchangers (like aluminum) and hoses (synthetic rubber and plastics) is a key determinant of the final product price. The Production Linked Incentive (PLI) scheme aims to localize the entire EV value chain, including battery component manufacturing, which could help mitigate pricing pressures from international supply chain dependencies over the long term.

• Supply Chain Analysis

The global supply chain for EV battery cooling systems is complex and multi-layered. Key production hubs for raw materials and components are concentrated in countries with developed chemical and automotive manufacturing sectors. For example, coolant fluids and their base chemicals are produced by major international chemical companies. Heat exchangers and pumps are often sourced from specialized automotive component manufacturers. In India, the supply chain for EV components is maturing but still has dependencies on imports, particularly for advanced battery cells. This dependency creates logistical complexities and exposes the market to geopolitical risks and international shipping delays. The government's focus on domestic production through schemes like the PLI is designed to build a more resilient and localized supply chain, from raw materials to final assembly.

India EV Battery Cooling Market Government Regulations:

Indian government regulations are a critical market driver, directly influencing the design and safety requirements for EV battery cooling systems.

India EV Battery Cooling Market Segment Analysis

• By Cooling Type: Liquid Cooling

The liquid cooling segment is experiencing significant demand as a direct result of the increasing prevalence of high-energy-density lithium-ion batteries. These batteries, utilized in a growing number of electric four-wheelers and buses, generate substantial heat during operation and especially during fast charging. Air cooling, which relies on ambient air circulation, proves insufficient to dissipate this heat effectively, leading to accelerated battery degradation and potential safety risks. Liquid cooling systems, which use a specialized coolant to circulate through channels or plates in direct contact with the battery cells, offer superior thermal management. This technology maintains a uniform temperature across the battery pack, which is essential for maximizing battery lifespan, optimizing charging efficiency, and ensuring overall vehicle safety. The demand for liquid cooling is therefore a direct consequence of the shift towards high-performance and long-range EVs in the Indian market.

• By Vehicle Type: Battery Electric Vehicles

The Battery Electric Vehicles (BEVs) segment is the largest consumer of EV battery cooling solutions in India. Unlike hybrid electric vehicles that have both an internal combustion engine and an electric motor, BEVs rely exclusively on their battery for propulsion. This singular dependency means that the battery pack is subject to constant charge and discharge cycles, which generate significant thermal stress. The demand for advanced cooling systems in BEVs is therefore an operational necessity, not an auxiliary feature. This growth is further intensified by consumer expectations for longer driving ranges and faster charging capabilities. To meet these requirements, manufacturers must equip BEVs with larger, more energy-dense batteries, which in turn require robust and efficient thermal management solutions. The proliferation of BEV models across passenger and commercial vehicle categories directly fuels demand for a wide range of battery cooling technologies, from passive to active systems.

India EV Battery Cooling Market Competitive Analysis:

The Indian EV battery cooling market features a mix of multinational players and domestic manufacturers. The competitive landscape is shaped by technological capabilities, integration with major automotive OEMs, and strategic positioning.

• Tata Motors: As a leading player in the Indian EV market, with a commanding share of electric four-wheeler sales, Tata Motors has an inherent need for in-house or integrated cooling solutions. The company's electric passenger vehicles, such as the Nexon.ev and Tiago.ev, are designed with advanced battery thermal management systems. The company's commercial vehicle arm also utilizes advanced cooling systems in its electric offerings, like the Tata Magic EV, which features an advanced battery cooling system. This strategic integration gives Tata Motors a dominant position by controlling a large portion of the end-user market.
• Mahindra & Mahindra: Mahindra Last Mile Mobility has a strong presence in the electric three-wheeler segment and is a key player in the four-wheeler market. The company’s focus on robust, reliable vehicles for commercial use, like the Mahindra Zeo, an electric four-wheeler cargo vehicle, necessitates durable and efficient thermal management. The Mahindra Zeo is equipped with an active liquid cooling system to manage its battery's energy efficiency. Mahindra Electric's collaboration with engineering simulation platforms to optimize its Battery Thermal Management System (BTMS) demonstrates a strategic focus on technological advancement.

India EV Battery Cooling Market Developments:

• June 2025: Cummins India introduced its Battery Energy Storage Systems, an expansion of its sustainable solutions portfolio in line with its 'Destination Zero' strategy. Crucially, these systems incorporate an integrated liquid cooling system designed to maintain optimal battery temperature. This robust thermal management is key to the system's performance, safety, and lifespan, particularly in high-demand grid applications, reinforcing the adoption of high-efficiency liquid cooling technology within the broader Indian energy ecosystem.
• May 2025: MAHLE India received a "Special Appreciation Award" from Mahindra & Mahindra for its Intelligent Thermal Management System (ITMS). This system, which began series production at the end of 2024, was developed specifically for Mahindra's new battery electric vehicle (BEV) platforms (XEV 9e and BE 6). The ITMS is a comprehensive solution that intelligently manages the vehicle's interior climate, battery temperature, and cooling airflow, addressing the specific challenges of India's diverse climate conditions for enhanced battery efficiency and passenger comfort.

India EV Battery Cooling Market Scope:

India EV Battery Cooling Market Segmentation:

BY COOLING TYPE

• Air Cooling
• Liquid Cooling
• Fan Cooling

BY BATTERY TYPE

• Lead Acid
• Lithium Ion
• Others

BY VEHICLE TYPE

• Battery Electric Vehicles
• Hybrid Electric Vehicles
• Plug-In Hybrid Electric Vehicle

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Table Of Contents

1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL OUTLOOK 

5. INDIA EV BATTERY COOLING MARKET BY COOLING TYPE  

5.1. Introduction

5.2. Air Cooling

5.3. Liquid Cooling

5.4. Fan Cooling

6. INDIA EV BATTERY COOLING MARKET BY BATTERY TYPE  

6.1. Introduction

6.2. Lead Acid

6.3. Lithium Ion

6.4. Others

7. INDIA EV BATTERY COOLING MARKET BY VEHICLE TYPE  

7.1. Introduction

7.2. Battery Electric Vehicles

7.3. Hybrid Electric Vehicles

7.4. Plug-In Hybrid Electric Vehicle

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Vikas Group

9.2. Trans ACNR 

9.3. Tata Group 

9.4. Onegene Group 

9.5. VOSS Automotive 

9.6. Alkraft  

9.7. Continental AG 

9.8. Denso Corporation 

9.9. MAHLE GmbH

9.10. Dana Incorporated  

9.11. Valeo 

10. APPENDIX

10.1. Currency 

10.2. Assumptions

10.3. Base and Forecast Years Timeline

10.4. Key benefits for the stakeholders

10.5. Research Methodology 

10.6. Abbreviations 

Companies Profiled

Vikas Group

Trans ACNR 

Tata Group 

Onegene Group 

VOSS Automotive 

Alkraft  

Continental AG 

Denso Corporation 

MAHLE GmbH

Dana Incorporated  

Valeo 

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