India Lithium Ion Battery Market

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India Lithium-Ion Battery Market, By Type (Lithium Cobalt Oxide (LCO), Lithium Manganese Oxide (LMO), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Nickel Manganese Cobalt (NMC), Lithium Titanate (LTO)); By Component (Cathode, Anode, Electrolytic Solution, Separator); By Voltage (Low (Below 12V), Medium (12 V–36 V), High (Above 36V)); By Industry (Consumer Electronics, Automotive, Aerospace, Marine, Medical, Telecommunications); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2022–2028

Published Date: October 2022
Report ID: BWC20263
Available Format: PDF
Page: 107

Report Overview

Increasing adoption of electric vehicles (EVs), usage of rechargeable batteries in consumer electronics and surging disposable income and environmental concerns are projected to propel the expansion of India Lithium-Ion Battery Market at an impressive growth rate during forecast period 2022 and 2028.

India Lithium-Ion Battery Market - Industry Trends & Forecast Report, 2028

India Lithium-Ion (Li-ion) Battery Market size was estimated at USD 1.92 billion in 2021. During the forecast period between 2022 and 2028, India lithium-ion battery market size is projected to grow at a robust CAGR of 19%, reaching a value of USD 6.43 billion by 2028. Major growth drivers for India lithium-ion market include the continuous high adoption of electric vehicles (EVs), increasing income-levels and environmental concerns. The growing number of portable consumer electronics goods, such as laptops, digital cameras, and music players that rely significantly on batteries has resulted in increased consumption of rechargeable batteries to provide efficient and effective power could also augment the growth of India lithium-ion battery market. Rising demand for EVs, increased awareness regarding portable and stationary energy, and government initiatives to boost renewable energy sector are also expected to contribute to the growth of India lithium-ion battery market during the period in analysis.

India Lithium-Ion Battery Market

India Lithium-Ion Battery Market

Growth Drivers

Rising popularity and high adoption of electric vehicles

The increasing demand for EVs among vehicle buyers in the country has fueled the growth of India Li-ion battery market, owing to the energy-saving, environmentally friendly automobiles. According to the India Ministry of Road Transport and Highways (MoRTH), approximately 14 lakh EVs plying on roads as on August 03, 2022, with the sales tripled over the previous year. It is projected to continue to rise in the coming years. An increased emphasis on the development of new and improved EVs by automobile industry coupled with the emergence of integrated charging stations, green power-generation capability, battery producers, and energy suppliers, is expected to propel the growth of India Li-ion battery market. India aspires to be a leading EV adopting country by 2030. Hence, the government has taken initiatives that aim at encouraging EV adoption. For instance, the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) plan and tax benefits for EVs are expected to boost the expansion of India Li-ion battery market during the forecast period.

Increasing consumption of consumer electronics with rechargeable batteries

Rechargeable batteries or storage batteries are source of power for smartphones, tablets, and other portable consumer electronics for regular use. An increasing demand for rechargeable batteries could boost the growth of India lithium-ion battery market owing to its light weight, flexibility, instant charging capacity, and extended shelf life. Hence, making it ideal for use in devices with limited internal space. In addition, rechargeable battery demand has skyrocketed due to affordable cost of Li-ion batteries, increased penetration in industries including material-handling equipment for automation and growing demand for EVs is expected to drive the market growth.

Restraints

Increasing demand for substitutes of lithium-ion batteries

The rapid growth in EV market and charging infrastructure, underdeveloped manufacturing infrastructure, and scarcity of lithium may force stakeholders to increase their focus on the alternatives of Li-ion battery. Consequently, it may limit the growth of India lithium-ion battery market.

Impact of COVID -19 on India Lithium-Ion Battery Market

COVID-19 pandemic adversely affected lithium-ion battery market in India. Due to battery scarcity in India, import taxes have skyrocketed, making it more expensive for businesses to obtain equipment and components from abroad. The government has barred the import of some raw materials used in Li-ion batteries. Consequently, it has increased raw material prices and created a significant level of unpredictability in the supply chain. Manufacturing of batteries and other crucial components for electric vehicles (EVs), stationary storage, and grid storage systems was halted. As a result, demand for batteries plummeted, stifling total India Lithium-ion battery market growth. Post the relaxation of COVID-19 related restrictions in the country, the market is expected to grow at a high rate.

India Lithium-Ion Battery Market

Segmental Coverage

India Lithium-Ion Battery Market – By Type

Based on by type, India lithium-ion battery market has segments Lithium Cobalt Oxide (LCO), Lithium Manganese Oxide (LMO), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Nickel Manganese Cobalt (NMC), and Lithium Titanate (LTO). The Lithium Cobalt Oxide (LCO) segment is expected to rise at the highest rate in India during the forecast period. Lithium Iron Phosphate battery is primarily used in electric car power batteries. However, owing the high energy density of Lithium Cobalt Oxide batteries, the Lithium Cobalt Oxide segment is expected to increase at a profitable rate.

India Lithium-Ion Battery Market Share

India Lithium-Ion Battery Market – By Component

Based on the component, India lithium-ion battery market has segments Cathode, Anode, Electrolytic Solution, and Separator. The cathode segment is estimated to dominate the market because of its widespread application in developing positive electrodes for battery cells. Cathodes for Li-ion batteries have a high density and higher power output, projected to drive the India lithium-ion battery market. However, the Electrolytic Solution segment is expected to increase at a rapid pace because of a stable and long-lasting battery requires a resilient electrolyte that can resist high current-voltage and temperatures. In addition, the electrolyte has extended shell life resulting in excellent Li-ion durability, which is expected to drive the overall market.

India Lithium-Ion Battery Market – By Voltage

Based on the voltage, India lithium-ion battery market is segmented into Low voltage (Below 12V), Medium voltage (12 V–36 V), and High voltage (Above 36V).

India Lithium-Ion Battery Market – By Industry

Based on the application, India lithium-ion battery market is categorized into Consumer Electronics, Automotive, Aerospace, Marine, Medical, and Telecommunications. The automotive segment is expected to hold the highest share in the market because of its quick recharge potential and high power density, as Li-ion batteries are the sustainable technologies that can comply with OEM requirements for automotive drive range and charging time. Furthermore, the growing acceptability and awareness of EVs and government initiatives to boost the use of EVs across the country could propel the growth of India lithium-ion battery market.

India Lithium-Ion Battery Market – By Region

Based on the region, India lithium-ion battery market is segmented into North India, South India, East India, and West India. South India holds the highest share in the market because of thriving EVs and consumer electronics industries.

Competitive Landscape

Major players operating in India lithium-ion battery market include Hitachi India Pvt. Ltd., AmcoSaft India Limited, Heter Electronics Group Co., Ltd., LG Chem Ltd., NEC India Pvt. Ltd., Panasonic India Pvt. Ltd., Rajamane Telectric Pvt. Ltd., Samsung SDI Company Limited, Shenzhen B&K Rechargeable Battery, Inc., and Duracell Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

In June 2021 – Forsee Power, a France-based battery system manufacturer, initiated the serial production of Li-ion batteries for automobiles, such as electric two wheelers (E2W) and electric three-wheelers (E3W) in Pune (Chakan Industrial Area), Maharashtra, India.
In February 2021 – Barrel Energy, a US-based Li-ion battery producer, signed a collaboration agreement (MoU) with Hyderabad-based Roshan Energy Technologies to produce and manufacture Li-ion batteries in India and North America.

Scope of the Report

Attributes	Details
Years Considered	Historical Data – 2018–2021
	Base Year – 2021
	Estimated Year – 2022
	Forecast Period– 2022–2028
Facts Covered	Revenue in USD Billion
Market Coverage	India
Product/ Service Segmentation	Type, Component, Voltage, Industry, Region
Key Players	Hitachi India Pvt. Ltd., AmcoSaft India Limited, Heter Electronics Group Co., Ltd., LG Chem Ltd., NEC India Pvt. Ltd., Panasonic India Pvt. Ltd., Rajamane Telectric Pvt. Ltd., Samsung SDI Company Limited, Shenzhen B&K Rechargeable Battery, Inc., Duracell Inc.

By Type

Lithium Cobalt Oxide (LCO)
Lithium Manganese Oxide (LMO)
Lithium Iron Phosphate (LFP)
Lithium Nickel Cobalt Aluminum Oxide (NCA)
Lithium Nickel Manganese Cobalt (NMC)
Lithium Titanate (LTO)

By Component

Cathode
Anode
Electrolytic Solution
Separator

By Voltage

Low (Below 12V)
Medium (12 V–36 V)
High (Above 36V)

By Industry

Consumer Electronics
Automotive
Aerospace
Marine
Medical
Telecommunications

By Region

North India
South India
East India
West India

Research Framework
1. Research Objective
2. Product Overview
3. Market Segmentation
Executive Summary
India Lithium-Ion Battery Market Insights
1. Industry Value Chain Analysis
2. DROC Analysis
  1. Growth Drivers
    1. Rising popularity and high adoption of electric vehicles
    2. Increasing consumption of consumer electronics with rechargeable batteries
  2. Restraints
    1. Increasing demand for substitutes of lithium-ion batteries
  3. Opportunities
    1. Increasing government funding in grid installations
  4. Challenges
    1. Excessive heating of batteries
3. Technological Advancement/Recent Development
4. Regulatory Framework
5. Porter’s Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of New Entrants
  4. Threat of Substitutes
  5. Intensity of Rivalry
India Lithium-Ion Battery Market Overview
1. Market Size & Forecast by Value, 2018–2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
    1. Lithium Cobalt Oxide (LCO)
    2. Lithium Manganese Oxide (LMO)
    3. Lithium Iron Phosphate (LFP)
    4. Lithium Nickel Cobalt Aluminum Oxide (NCA)
    5. Lithium Nickel Manganese Cobalt (NMC)
    6. Lithium Titanate (LTO)
  2. By Components
    1. Cathode
    2. Anode
    3. Electrolytic Solution
    4. Separator
    5. Others
  3. By Voltage
    1. Low (Below 12V)
    2. Medium (12 V–36 V)
    3. High (Above 36V)
  4. By Industry
    1. Consumer Electronics
    2. Automotive
    3. Aerospace
    4. Marine
    5. Medical
    6. Telecommunications
    7. Others
  5. By Region
    1. North India
    2. South India
    3. East India
    4. West India
North India Lithium-Ion Battery Market
1. 1. Market Size & Forecast by Value, 2018–2028
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
  2. By Components
  3. By Voltage
  4. By Industry
South India Lithium-Ion Battery Market
1. 1. Market Size & Forecast by Value, 2018–2028
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
  2. By Components
  3. By Voltage
  4. By Industry
East India Lithium-Ion Battery Market
1. 1. Market Size & Forecast by Value, 2018–2028
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
  2. By Components
  3. By Voltage
  4. By Industry
West India Lithium-Ion Battery Market
1. 1. Market Size & Forecast by Value, 2018–2028
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Type
  2. By Components
  3. By Voltage
  4. By Industry
Competitive Landscape
1. List of Key Players and Their Offerings
2. India Lithium-Ion Battery Company Market Share Analysis, 2021
3. Competitive Benchmarking, By Operating Parameters
4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
Impact of Covid-19 on India Lithium-Ion Battery Market Industry
Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
1. Hitachi India Pvt. Ltd.
2. AmcoSaft India Limited
3. Heter Electronics Group Co., Ltd.
4. LG Chem Ltd.
5. NEC India Pvt. Ltd.
6. Panasonic India Pvt. Ltd.
7. Rajamane Telectric Pvt. Ltd.
8. Samsung SDI Company Limited
9. Shenzhen B&K Rechargeable Battery, Inc.
10. Duracell Inc.
11. Other Prominent Players
Key Strategic Recommendations
Research Methodology
1. Qualitative Research
  1. Primary & Secondary Research
2. Quantitative Research
3. Market Breakdown & Data Triangulation
  1. Secondary Research
  2. Primary Research
4. Breakdown of Primary Research Respondents, By Region
5. Assumption & Limitation

List of Figures

Figure 1 India Lithium-Ion Battery Market Segmentation

Figure 2 India Lithium-Ion Battery Market Value Chain Analysis

Figure 3 Porter’s Five Forces Analysis

Figure 4 India Lithium-Ion Battery Market Size, By Value (USD Million), 2018–2028

Figure 5 India Lithium-Ion Battery Market Share, By Type, By Value, 2018–2028

Figure 6 India Lithium-Ion Battery Market Share, By Components, By Value, 2018–2028

Figure 7 India Lithium-Ion Battery Market Share, By Voltage, By Value, 2018–2028

Figure 8 India Lithium-Ion Battery Market Share, By Industry, By Value, 2018–2028

Figure 9 India Lithium-Ion Battery Market Share, By Region, By Value, 2018–2028

Figure 10 North India Lithium-Ion Battery Market Size, By Value (USD Million), 2018–2028

Figure 11 North India Lithium-Ion Battery Market Share, By Type, By Value, 2018–2028

Figure 12 North India Lithium-Ion Battery Market Share, By Components, By Value, 2018–2028

Figure 13 North India Lithium-Ion Battery Market Share, By Voltage, By Value, 2018–2028

Figure 14 North India Lithium-Ion Battery Market Share, By Industry, By Value, 2018–2028

Figure 15 South India Lithium-Ion Battery Market Size, By Value (USD Million), 2018–2028

Figure 16 South India Lithium-Ion Battery Market Share, By Type, By Value, 2018–2028

Figure 17 South India Lithium-Ion Battery Market Share, By Components, By Value, 2018–2028

Figure 18 South India Lithium-Ion Battery Market Share, By Voltage, By Value, 2018–2028

Figure 19 South India Lithium-Ion Battery Market Share, By Industry, By Value, 2018–2028

Figure 20 East India Lithium-Ion Battery Market Size, By Value (USD Million), 2018–2028

Figure 21 East India Lithium-Ion Battery Market Share, By Type, By Value, 2018–2028

Figure 22 East India Lithium-Ion Battery Market Share, By Components, By Value, 2018–2028

Figure 23 East India Lithium-Ion Battery Market Share, By Voltage, By Value, 2018–2028

Figure 24 East India Lithium-Ion Battery Market Share, By Industry, By Value, 2018–2028

Figure 25 West India Lithium-Ion Battery Market Size, By Value (USD Million), 2018–2028

Figure 26 West India Lithium-Ion Battery Market Share, By Type, By Value, 2018–2028

Figure 27 West India Lithium-Ion Battery Market Share, By Components, By Value, 2018–2028

Figure 28 West India Lithium-Ion Battery Market Share, By Voltage, By Value, 2018–2028

Figure 29 West India Lithium-Ion Battery Market Share, By Industry, By Value, 2018–2028

List of Tables

Table 1 India Lithium-Ion Battery Market Size, By Type, By Value, 2018–2028

Table 2 India Lithium-Ion Battery Market Size, By Components, By Value, 2018–2028

Table 3 India Lithium-Ion Battery Market Size, By Voltage, By Value, 2018–2028

Table 4 India Lithium-Ion Battery Market Size, By Industry, By Value, 2018–2028

Table 5 India Lithium-Ion Battery Market Size, By Region, By Value, 2018–2028

Table 6 North India Lithium-Ion Battery Market Size, By Type, By Value, 2018–2028

Table 7 North India Lithium-Ion Battery Market Size, By Components, By Value, 2018–2028

Table 8 North India Lithium-Ion Battery Market Size, By Voltage, By Value, 2018–2028

Table 9 North India Lithium-Ion Battery Market Size, By Industry, By Value, 2018–2028

Table 10 South India Lithium-Ion Battery Market Size, By Type, By Value, 2018–2028

Table 11 South India Lithium-Ion Battery Market Size, By Components, By Value, 2018–2028

Table 12 South India Lithium-Ion Battery Market Size, By Voltage, By Value, 2018–2028

Table 13 South India Lithium-Ion Battery Market Size, By Industry, By Value, 2018–2028

Table 14 East India Lithium-Ion Battery Market Size, By Type, By Value, 2018–2028

Table 15 East India Lithium-Ion Battery Market Size, By Components, By Value, 2018–2028

Table 16 East India Lithium-Ion Battery Market Size, By Voltage, By Value, 2018–2028

Table 17 East India Lithium-Ion Battery Market Size, By Industry, By Value, 2018–2028

Table 18 West India Lithium-Ion Battery Market Size, By Type, By Value, 2018–2028

Table 19 West India Lithium-Ion Battery Market Size, By Components, By Value, 2018–2028

Table 20 West India Lithium-Ion Battery Market Size, By Voltage, By Value, 2018–2028

Table 21 West India Lithium-Ion Battery Market Size, By Industry, By Value, 2018–2028

Table 22 Competitive Benchmarking, By Operating Parameters

Table 23 Mergers, Acquisitions, Partnerships, Joint Ventures, etc.

Table 24 Hitachi India Pvt. Ltd. Company Overview

Table 25 Hitachi India Pvt. Ltd. Financial Overview

Table 26 AmcoSaft India Limited Company Overview

Table 27 AmcoSaft India Limited Financial Overview

Table 28 Heter Electronics Group Co., Ltd. Company Overview

Table 29 Heter Electronics Group Co., Ltd. Financial Overview

Table 30 LG Chem Ltd Company Overview

Table 31 LG Chem Ltd Financial Overview

Table 32 NEC India Pvt. Ltd. Company Overview

Table 33 NEC India Pvt. Ltd. Financial Overview

Table 34 Panasonic India Pvt. Ltd Company Overview

Table 35 Panasonic India Pvt. Ltd Financial Overview

Table 36 Rajamane Telectric Pvt. Ltd. Company Overview

Table 37 Rajamane Telectric Pvt. Ltd. Financial Overview

Table 38 Samsung SDI Company Limited Company Overview

Table 39 Samsung SDI Company Limited Financial Overview

Table 40 Shenzhen B&K Rechargeable Battery, Inc. Company Overview

Table 41 Shenzhen B&K Rechargeable Battery, Inc. Company Overview

Table 42 Duracell Inc. Company Overview

Table 43 Duracell Inc. Financial Overview

Market Segmentation

By Type

Lithium Cobalt Oxide (LCO)
Lithium Manganese Oxide (LMO)
Lithium Iron Phosphate (LFP)
Lithium Nickel Cobalt Aluminum Oxide (NCA)
Lithium Nickel Manganese Cobalt (NMC)
Lithium Titanate (LTO)

By Component

Cathode
Anode
Electrolytic Solution
Separator

By Voltage

Low (Below 12V)
Medium (12 V–36 V)
High (Above 36V)

By Industry

Consumer Electronics
Automotive
Aerospace
Marine
Medical
Telecommunications

By Region

North India
South India
East India
West India

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Frequently Asked Questions (FAQs):

1. What is the current market size of India Lithium-Ion Battery Market?

Ans: In 2021, India Lithium-Ion Battery Market size was estimated at USD 1.92 billion.

2. What are the major factors driving the growth of India Lithium-Ion Battery Market?

Ans: Major factors driving the growth of India Lithium-Ion Battery Market include Increasing adoption of electric vehicles (EVs), usage of rechargeable batteries in consumer electronics and surging disposable income and environmental concerns.

3. Name the key players in the India Lithium-Ion Battery Market.

Ans: Key players in India Lithium-Ion battery market include Hitachi India Pvt. Ltd., AmcoSaft India Limited, Heter Electronics Group Co., Ltd., LG Chem Ltd., NEC India Pvt. Ltd., Panasonic India Pvt. Ltd., Rajamane Telectric Pvt. Ltd., Samsung SDI Company Limited, Shenzhen B&K Rechargeable Battery, Inc., and Duracell Inc.

4. Which segment accounted for India Lithium-Ion Battery Market by industry?

Ans: The automotive segment is expected to hold the highest market share in India Lithium-Ion Battery Market by industry type.

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