India Lithium-ion Battery Market size was valued at USD 2.54 Bn in 2023 and is expected to reach USD 6.92 Bn by 2030, at a CAGR of 15.4 %.
India Lithium-ion Battery Market Report Overview:
The India Lithium-ion Battery Market research emphasizes key factors like market share, distributor networks, primary suppliers, evolving price trends, and the raw material supply chain. Anticipated to exhibit notable growth during the forecast timeframe, the global India Lithium-ion Battery market experienced steady development . With prominent players implementing diverse strategies, the market is poised to witness continued growth throughout the projected period. The India Lithium-ion Battery Market report provides comprehensive insights to companies, offering a deep understanding of the dynamics within the global industry.
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Market Scope and Research Methodology
Maximize Market Research’s report delivers crucial insights for a diverse audience, including clients, service providers, suppliers, distributors, manufacturers, and stakeholders. The analysis facilitates an in-depth examination of the India Lithium-ion Battery market. This comprehensive study encompasses data on the changing investment landscape, technological innovations, market trends, and competitive developments.
Key Developments in India’s Lithium-Ion Battery Market
Indian Lithium-Ion Battery Market: A Gateway to Sustainable Energy
India’s lithium-ion battery market is at the forefront of an energy revolution, driven by the increasing adoption of electric vehicles (EVs), the push for renewable energy storage, and technological advancements in battery manufacturing. Key mergers and acquisitions (M&A) in the sector are reshaping the market, with major international players establishing manufacturing units and collaborations in India.
Mergers and Acquisitions in the Global Lithium-Ion Battery Market
Recent M&A activities reflect a global trend toward securing the lithium-ion battery supply chain. Notable acquisitions, including Epsilon Advanced Materials (EAM) taking over Johnson Matthey’s lithium-ion phosphate (LFP) technology center in Germany, have shifted the market’s balance. EAM plans to establish a massive LFP production facility in India, positioning the country as a significant global player in battery manufacturing.
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India Lithium-ion Battery Market Segmentation:
By Type
Lithium Nickel Manganese Cobalt
Lithium Iron Phosphate
Lithium Cobalt Oxide
Lithium Titanate Oxide
Lithium Manganese Oxide
Lithium Nickel Cobalt Aluminum Oxide
By Material
Cathode material
Anode material
Electrolyte material
Separator material
Current collector material
Others
By Capacity
Below 3,000 mAh
3,001 – 10,000 mAh
10,001 – 60,000 mAh
Above 60,000 mAh
By Application
Consumer Electronics
Automotive
Energy Shortage (Power)
Industrial Applications (Aerospace, Marine, Medical, Telecommunications, Others)
India Lithium-ion Battery Market Key Players:
1. Battrixx ( Bengaluru, Karnataka, India)
2. Contemporary Amperex Technology Co., Ltd. (CATL) ( Bengaluru, Karnataka, India)
3. Exicom Tele(Systems Limited ( New Delhi, India)
4. Grinntech Motors & Services Pvt. Ltd.( Chennai, Tamil Nadu, India)
5. Guoxuan High (Gotion High Tech Co. Ltd.) ( Bengaluru, Karnataka, India)
6. LG Energy Solution Ltd. ( Pune, Maharashtra, India)
7. Panasonic Life Solutions India Pvt. Ltd. ( Mumbai, Maharashtra, India)
8. Samsung SDI Co., Ltd. ( Bengaluru, Karnataka, India)
9. Toshiba Corporation (Toshiba India Pvt. Ltd.) ( New Delhi, India)
10. Trontek Electronics Pvt. Ltd. ( Pune, Maharashtra, India)
11. Coslight India Telecom Pvt. Ltd. ( Noida, Uttar Pradesh, India)
12. Cygni Energy Private Limited ( Hyderabad, Telangana, India)
13. Euclion Energy Private Limited ( Bengaluru, Karnataka, India)
14. Future Hi(Tech Batteries ( Surat, Gujarat, India)
15. Greenfuel Energy Solutions ( Bengaluru, Karnataka, India)
16. Log9 Materials Scientific Pvt Ltd. ( Bengaluru, Karnataka, India)
17. Loom Solar Pvt. Ltd. ( Faridabad, Haryana, India)
18. Okaya Power Pvt. Ltd. ( New Delhi, India)
19. Waaree ESS ( Mumbai, Maharashtra, India)
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Regional Insights: India’s Lithium-Ion Battery Market Poised for Expansion
The market growth is not limited to just electric vehicles. Innovations in energy storage systems for consumer electronics, renewable energy, and urban mobility solutions are critical drivers. Additionally, South India, particularly Karnataka, is becoming a major hub for lithium-ion battery production and research due to its strong industrial infrastructure and government incentives.
Major Trends and the Future Outlook
Electric Vehicle Adoption: A Primary Growth Driver
The adoption of electric vehicles in India has skyrocketed, with a 49% projected increase in EV adoption between 2022 and 2030. The rapid growth of EV registrations—surging from 125,000 units to over 1 million in just one year—underscores the immense demand for lithium-ion batteries. With government incentives and a growing environmental consciousness among consumers, the market is poised for sustained growth.
Battery Cost Reduction: A Catalyst for Market Expansion
The cost of lithium-ion batteries has decreased dramatically in recent years, dropping from $400 per kWh in 2021 to about $200 per kWh. This reduction is making EVs more affordable for Indian consumers, spurring further market adoption and investment in battery manufacturing.
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Key Questions answered in the India Lithium-ion Battery Market Report are:
- What are the market segments?
- Which production technology is utilized for India Lithium-ion Battery?
- What trends are driving the market growth?
- Who are the global key players in the India Lithium-ion Battery market?
- What is the global market status of the India Lithium-ion Battery market?
- What was volume, manufacture value, price, and revenue of India Lithium-ion Battery market?
Key Offerings:
- Market Overview: A comprehensive introduction to the market landscape.
- Market Share Analysis: Insight into the competitive positioning of market players.
- Market Size Estimates: Detailed projections based on extensive research.
- Revenue Forecasts: Anticipated financial performance over the coming years.
- Market Dynamics: In-depth exploration of growth drivers, restraints, investment opportunities, and key trends.
- Market Segmentation: A meticulous analysis of segments, sub-segments, and regional performance.
- Competitive Landscape: Overview of top key vendors and other significant market participants.
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