The latest report by IMARC Group, titled “India Lithium-Ion Battery Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,“ offers a comprehensive analysis of the industry, which comprises insights into the India lithium-ion battery market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The India lithium-ion battery market size reached US$ 2.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.7 Billion by 2032, exhibiting a growth rate (CAGR) of 12.9% during 2024-2032.
India Lithium-Ion Battery Market Overview:
Lithium-ion batteries are rechargeable energy storage devices that use lithium ions to transfer energy between electrodes during charging and discharging cycles. They are widely used in portable electronics, electric vehicles, and renewable energy systems due to their high energy density, long cycle life, and relatively lightweight design. Lithium-ion batteries consist of cathodes, anodes, and an electrolyte solution, typically composed of lithium salts dissolved in organic solvents. During charging, lithium ions move from the cathode to the anode, where they are stored, and during discharging, they flow back to the cathode, releasing energy. The versatility and efficiency of lithium-ion batteries make them essential components in powering modern technologies and facilitating the transition to a more sustainable energy future.
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India Lithium-Ion Battery Market Trends:
The market in India is majorly driven by the country’s ambitious targets for electrification and renewable energy adoption, coupled with government initiatives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme. These batteries are integral components of electric vehicles (EVs) and energy storage systems, supporting the transition towards cleaner and more sustainable transportation and power generation. Moreover, the rapid expansion of the consumer electronics market in India, including smartphones, laptops, and tablets, is fueling the demand for lithium-ion batteries. The proliferation of digital devices and the increasing trend towards portable and wearable electronics further boost the market for rechargeable lithium-ion batteries.
Additionally, advancements in renewable energy deployment, particularly solar and wind power, are driving the need for energy storage solutions to address intermittency and grid stability issues.
Lithium-ion batteries offer efficient and scalable energy storage solutions, enabling the integration of renewable energy sources into the grid and supporting energy access in remote and off-grid areas. Furthermore, increasing investments in manufacturing capacity and technology development are bolstering the growth of the lithium-ion battery market in India. Domestic production of lithium-ion cells and batteries is being incentivized through schemes like the Production Linked Incentive (PLI) scheme, fostering indigenous manufacturing capabilities and reducing reliance on imports.
India Lithium-Ion Battery Market Segmentation:
Breakup by Product Type:
Lithium Cobalt Oxide
Lithium Iron Phosphate
Lithium Nickel Manganese Cobalt
Lithium Manganese Oxide
Others (Li-ion Nickel Cobalt Aluminium Oxide and Li-ion Titanate Oxide)
Breakup by Power Capacity:
0 to 3000mAh
3000mAh to 10000mAh
10000mAh to 60000mAh
More than 60000mAh
Breakup by Application:
Consumer Electronics
Electric Vehicles
Energy Storage
Others
Breakup by Region:
North India
West and Central India
South India
East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
Market Performance (2018-2023)
Market Outlook (2024-2032)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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