India Lithium-Ion Battery Market is projected to be valued $XX Billion by 2025; with a CAGR of XX% from 2017 to 2025. Lithium-Ion batteries are primary batteries which can produce voltage from 1.5 V to about 3 V depending upon the type of material used. These batteries are now widely implemented as the energy source in portable electronics to electric vehicles. Growing adoption of smartphones, tablets, and personal care devices among youth generation and high trend of wearables devices, toys, power tools, payment devices and digital cameras among users have fueled the growth of lithium ion batteries in India.
Rise in disposable income of consumers has led to upsurge in demand for electronic devices such as smartphones and tablets which has further supplemented the growth of lithium-Ion batteries in India. Moreover, government initiative to reduce pollution level and growth in automotive sector has increased the production of electric vehicles. However, high cost and risk of fire in electronic devices is acting as a restraint for the market. Growth in automobile industry and growing trend of electronic devices among youth consumers would increase the demand for lithium-Ion batteries in India.
India does not have any lithium Ion battery manufacturing plant at present thus, the lithium-Ion batteries are currently imported from China. 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.
The India lithium ion battery market is bifurcated by material type and industry vertical. Cathode, anode, electrolytic solution, and other materials (Includes binders, separators, and others) are the sub-segments of material segment. 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 Hitachi Chemical Co., Ltd., Samsung SDI Co. Ltd., Panasonic Corporation, Toshiba Corporation, and China BAK Battery Co. Ltd., among others.
The key takeaways from the report
Scope of the India Lithium-Ion Battery Market
Material Type Segments
Industry Vertical Segments