India Lithium-Ion Battery Market is estimated to reach $5,022 Million by 2024; growing at a CAGR of 26.2% from 2016 to 2024. Lithium-Ion batteries are primary batteries in which lithium compound acts as an anode. A lithium cell can produce voltage from 1.5 V to about 3 V based on the types of materials used. These batteries have a potential to achieve very high energy and power densities in high-density battery applications such as electronics, automotive and standby power. Lithium-ion batteries are now widely implemented as the power or energy source for everything from portable electronics to electric vehicles and energy & natural resources. Increasing adoption of smartphones, tablets, wearables, toys, power tools, personal care devices, payment devices and digital cameras among users have led to an improved demand for lithium-ion batteries in India.
India Lithium-Ion Battery Market Size and Forecast, 2015 – 2024 (US$ Million)
Increase in disposable income has led to rise in demand for electronic devices such as smartphones and tablets fueling the growth of lithium-Ion batteries in the India. Moreover, rise in government initiative to reduce pollution level are the major factors driving the Indian lithium-ion battery market. Growth in automotive sector has led to surge in demand for electric vehicles which has also supplemented the growth of lithium-Ion batteries. However, high cost and risk of fire in electronic devices may hinder the market growth in the coming years. Growth in automobile industry and growing trend of electronic devices among youth consumers would increase the demand for lithium-Ion batteries in the near future.
The lithium-Ion batteries are currently imported from China primarily as India does not have any manufacturing plant at present. The companies such as the Adani, the JSW, the Mahindra and the Hero groups among others are expected to invest heavily in the manufacturing of lithium-Ion batteries due to its increasing applications primarily across electronics, automotive and energy sector.
India Lithium-Ion Battery Market, by Material Type
The India lithium-ion battery market has been segmented on the basis of material type and industry vertical. By material type, the market is further segmented into cathode, electrolytic solution, anode, and other materials includes (binders, separators, and others). By industry vertical, the market is bifurcated into electronics (UPS, smart phones, laptops/tablets, and others), automotive (car, buses, and trucks, scooters and bikes, train and aircraft), industrial (mining equipment, construction equipment, smart grid), and other industry verticals.
Major companies operating in the India lithium-Ion battery market are Samsung SDI Co. Ltd., Panasonic Corporation, Toshiba Corporation, Hitachi Chemical Co., Ltd., and China BAK Battery Co. Ltd., among others.
The key takeaways from the report
- The report will provide detailed analysis of India Lithium-Ion Battery Market with respect to major segments namely material type and industry vertical
- The report will include the qualitative and quantitative analysis with market estimation over 2015– 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of India Lithium-Ion Battery Market has been included in the report
- Profile of the key players in the India Lithium-Ion Battery Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of the India Lithium-Ion Battery Market
Material Type Segments
- Electrolytic solution
- Other Materials
Industry Vertical Segments
- Cars, Busses and Trucks
- Scooters and Bikes
- Train and Aircraft
- Mining Equipment
- Construction Equipment
- Smart Grid
- Other Industry Verticals