India Lithium Ion Batteries Market (2017-2023) | Analysis, Size, Revenue, Trends, Growth, Forecast, Industry, Outlook, Value & Segmentation

Latest 2023 Developments of the India Lithium-Ion Batteries Market

India Lithium-Ion Batteries Market is growing rapidly with the innovation of smart batteries which are designed to easily swap from one vehicle to another which will drive sales effectively.  On 24th August 2020, the new development of lithium-sulfur battery which is introduced for electric vehicles is set to provide three times more energy capacity and aims to be more cost-effective, safer, efficient, and eco-friendly. Additionally, in August 2021 startups have developed technology to recycle 1000 tonnes of lithium-ion battery waste per year on account of which lithium-ion batteries will be more environmentally friendly. PLI scheme also boosted companies to produce lithium-ion cells in the country, hoping to take advantage of ?18,000 crores worth of government subsidies announced. 

Merger & Acquisition:

• LG Chem acquired Uniseal on 12th September 2018
• Philips 66 acquired stakes in Novonix on 9th August 2021

India Lithium-Ion Batteries Market Synopsis

Growing pollution concerns, rising adoption of electric vehicles, increasing income levels, and surging demand for quality and uninterrupted power are some of the key factors catalyzing the growth of the Lithium-ion batteries market in India. Further, the rising usage of smartphones and other consumer electronics products is resulting in an increase in demand for higher energy density and faster-charging solutions. Additionally, the growing consumer electronics market would drive the India Lithium-Ion Batteries market forecast period revenues owing to its lightweight, high energy, and power capacity features.

According to 6Wresearch, India Lithium-ion Batteries market size is projected to grow at a CAGR of over 27% during 2017-23. The consumer electronics segment captured the majority of the market share followed by automotive applications and others. Among various Li-ion chemistries, Lithium Cobalt Oxide (LCO) dominated the market owing to its high usage in consumer electronics.

Additionally, increasing awareness towards portable and stationary energy storage coupled with the government's push towards solar and wind projects is expected to contribute to the growth of India Li-ion Battery market share over the coming years. Moreover, government efforts towards the adoption of electric vehicles such as the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme as well as tax exemption on EVs are anticipated to provide a much-needed boost to the market.

The India Lithium-Ion Batteries market report thoroughly covers lithium-ion batteries market applications, components, material types, and power capacities. The India Lithium-Ion Batteries market outlook report provides an unbiased and detailed analysis of the ongoing India Lithium-Ion Batteries market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to decide and align their market strategies according to the current and future market dynamics.

India Lithium-Ion Batteries Market includes applications, material types, components, and power capacities.  The potential of the lithium-ion batteries market was analyzed in 2020 and provides statistics and regional analysis of the battery industry and market size based on the analyzed information. The India lithium-ion battery market is expected to register potential growth in the upcoming six years backed by the rising adoption of electric vehicles across the country. With a spur in the declining costs of electric vehicles, lithium-ion batteries are generating a chunk of market value in the overall Indian market. Presently, India has only cell-to-pack manufacturing plants with one GWh annual production range, but, with the rising efforts of the government of the country towards increasing the manufacture of li-on batteries backed by the implementation of initiatives such as ‘Make in India’ and by providing special manufacturing zones with equipped infrastructure, cheap power, and efficient connectivity, the India lithium-ion batteries market would garner proficient revenues in the coming years. 

India lithium-ion batteries market is projected to gain momentum in the coming timeframe owing to the rising expansion of the offices with the growing tech-savvy population where high use of computers and UPS systems is likely to bring in lucrative opportunities for the lithium-ion batteries deployment to power the equipment instantly. Not only the offices but the growing use of computers in BFSI and residential sectors has widened the use of UPS systems for the emergence of power backup source that tends to require the high use of lithium-ion batteries and is estimated to bolster the growth of India's lithium-ion batteries market in the coming timeframe. 

Key Highlights of the Report:

• India Lithium-Ion Batteries Market Overview
• India Lithium-Ion Batteries Market Outlook
• Historical data of the Global Lithium-Ion Batteries Market for the Period 2014-2016
• Market Size & Forecast of Global Lithium-Ion Batteries Market until 2023
• Historical data of India Lithium-Ion Batteries Market for the Period 2014-2016
• India Lithium-Ion Batteries Market Size & India Lithium-Ion Batteries Market Forecast Revenues until 2023
• Historical data of India Lithium-Ion Batteries Market, By Applications for the Period 2014-2016
• Market Size & Forecast of India Lithium-Ion Batteries Market Revenues, By Applications until 2023
• Historical data of India Lithium-Ion Batteries Market Revenues, By Components for the Period 2014-2016
• Market Size & Forecast of India Lithium-Ion Batteries Market Revenues, By Components until 2023
• Historical data of India Lithium-Ion Batteries Market Revenues, By Power Capacity for the Period 2014-2016
• Market Size & Forecast of India Lithium-Ion Batteries Market Revenues, By Power Capacity until 2023
• Historical data of India Lithium-Ion Batteries Market Revenues, By Materials for the Period 2014-2016
• Market Size & Forecast of India Lithium-Ion Batteries Market Revenues, By Materials until 2023
• India Lithium-Ion Batteries Market Drivers and Restraints
• India Lithium-Ion Batteries Market Trends and Opportunities
• Industry Life Cycle and Value Chain Analysis
• Porter's Five Forces Analysis
• India Lithium-Ion Batteries Market Overview on Competitive Benchmarking
• India Lithium-Ion Batteries Market Share, by Players
• Company Profiles
• Key Recommendations

Markets Covered

The India Lithium Ion Batteries market report provides a detailed analysis of the following market segments:

By Applications

• Automotive
• Industrial
• Consumer Electronics
• Others (Medical, Military, Textile)

By Material

• Lithium Cobalt Oxide
• Lithium Manganese Oxide
• Lithium Iron Phosphate
• Others (Li Nickel Cobalt Aluminum Oxide, Li Titanate)

By Power Capacity

• 5-25 Wh
• 48-95 Wh
• 18-28 KWh
• 100-250 KWh
• Above 300 KWh

By Components

• Cathode
• Anode
• Electrolytic Solution
• Others (Foils, Binder and Separators)

Frequently Asked Questions About the Market Study (FAQs):