According to a new market report published by BlueWeave Consulting (www.blueweaveconsulting.com), the India Lithium-ion Battery market is expected to expand at a CAGR of over 23% from 2018 to 2025, end of the forecast period.
Growth in automobile industry and rise in demand for electronic devices is mainly driving the Indian Lithium-ion Battery market
Lithium-ion battery is an energy storage device capable of charging and discharging. In comparison to traditional battery technologies, they are competent of providing significantly high performance. 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, wearable, 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.
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. The Indian automobile sector is one of the most prominent sectors of the country, accounting for over 8% of the national GDP. Growth in automotive sector has led to surge in demand for electric vehicles which has also supplemented the growth of lithium-Ion batteries.
India Lithium-ion Battery market: Scope of the Report
The India Lithium-ion Battery market is segmented on the basis of type, components, and application. Based on type, the market is segmented into Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Iron Phosphate, and Others. On the basis of application, the market is segmented into Consumer Electronics, Industrial and Automotive. Based on Components, the market is segmented into Cathode, Anode, Electrolytic Solution and Others.
India Lithium-ion Battery market: Competitive Dynamics
Companies, such as Future Hi-Tech Batteries, Reliance Industries Limited, JSW Group, Adani Enterprise Ltd, Mahindra & Mahindra Limited, Suzuki Motor Corp., Toshiba Corp., Denso Corp., Samsung SDI Co. Ltd., Panasonic Corporation, Toshiba Corporation, Hitachi Chemical Co. Ltd, and Bharat Heavy Electricals Ltd are the key players in Lithium-ion Battery in India.
Market Segmentation: India Lithium-ion Battery market
- Lithium Cobalt Oxide
- Lithium Manganese Oxide
- Lithium Iron Phosphate
- Consumer Electronics
- Electrolytic Solution
In addition, the report provides analysis of the India Lithium-ion Battery market with respect to the following geographic segments:
- North Region
- East Region
- West Region
- South Region
BlueWeave Consulting is a one-stop solution for market intelligences regarding various products and services online & offline. We offer worldwide market research reports by analysing both qualitative and quantitative data to boost up the performance of your business solution. BlueWeave has built its reputation from the scratches by delivering quality performance and nourishing the long-lasting relationships with its clients for years. We are one of the leading digital market intelligence generation company delivering unique solutions for blooming your business and making the morning, more rising & shining.