The India Lithium Ion Battery market was estimated to be USD xx Million in 2019 and is anticipated to touch USD xx Million by the end of 2027, while increasing at a CAGR of 18.3% during the forecast period (2020-2027).

Introduction of the India Lithium Ion Battery Market Report

The India battery market has been primarily dominated by lead acid batteries occupy over 95% of the total battery market share in the country. However, the country is fast witnessing a major shift towards lithium-ion batteries owing its growing adoption in automotive, telecom and industrial applications. Several features such as faster charging, higher product lifecycle and compact size makes it the preferred medium to be used across industries.

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Market Dynamic

Key Drivers and Emerging Trends

Increasing government initiatives in terms of promoting clean energy and emphasis on reduction on oil imports is one of the primary reasons for boosting the demand for battery. For instance, to promote electric vehicles, the government has launched the “Nation Electric Mobility Mission Plan (NEMMP) to support the adoption of electric and hybrid vehicles. Moreover, an outlay of INR 10,000 crore has been allocated under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicle scheme (FAME 2) till 2022. The combination of these initiatives will surge the demand for Li-Ion batteries in electric vehicles, thus having positive impact on the growing demand of the market.  Furthermore, tax benefits to OEMs in supporting local manufacturing of lithium batteries will further play a key role in shaping up the industry.

Restraint in the India Lithium-Ion Battery Market

One of the major restraint/barriers in the market is the low availability of raw materials due to which the OEMs are primarily dependent on countries such as China, Australia, Bolivia for import. For instance, in 2019, both the countries signed a memorandum of understanding, whereby Bolivia will supply lithium carbonate to India and foster into joint ventures for lithium battery production plants in India.

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Battery Type – Segment Analysis

Based on battery type, Lithium Nickel Manganese Cobalt (Li-NMC) accounted for the lion’s share of the India lithium-ion battery market in 2019. The accelerating demand for Lithium Nickel Manganese Cobalt batteries, especially in power banks, flashlights, laptop battery packs, and cordless power tools, is a key driver that is contributing to the growth of the segment. This type of battery has lithium nickel manganese cobalt oxide as the cathode and graphite as the anode and energy density is between 150-220 Wh/kg. This battery type is mostly used as these have features similar to Lithium Iron Phosphate (LFP). These batteries are safer compared to other battery types and is cost-effective than LFP.

End-Use Industry – Segment Analysis

Based on the end-use industry, the automotive segment is expected to witness the fastest CAGR growth in the coming years. Increasing adoption of lithium batteries in electric vehicles in the two-wheeler and four-wheeler vehicles is augmenting the market growth. Growing adoption of electric vehicles across both passenger and commercial segment has created lucrative opportunity for several companies in this space. As a result, the top two leading battery manufacturers in the country, Exide and AmaraRaja have also forayed in this space with plans to set up manufacturing plants in the country to meet the growing demand of electric vehicles. For instance, in 2019, Exide Industries collaborated with Switzerland-based Leclanch SA, which is one of the world’s leading energy storage solution companies, to start assembling lithium-ion batteries in India.

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Segments covered in the Report:

The India Lithium-Ion battery market is segmented into battery type, by voltage, by power capacity, by industry. Based on the Battery Type, the market is segmented into Lithium Nickel Manganese Cobalt (Li-NMC), Lithium Iron Phosphate (LFP) and Others. By Voltage, the market is segmented into Low (Below 12 V), Medium (12 V – 36 V) and High (Above 36 V). By Power Capacity, the market is segmented into Less Than 3,000 mAH, 3,000 TO 10,000 mAH, 10,000 TO 60,000 mAH, 60,000 mAH to 100 000 mAH, 100 000 mAH to 200 000 mAH and > 200 000 mAH. By Industry, the market is segmented into Consumer electronics, Tele-communication, Automotive, Aerospace & Defense, Industrial and Commercial

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Key questions answered in this research report:

• • At what pace is India Lithium Ion Battery market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in India Lithium Ion Battery market? What will be the impact of drivers and restraints in the future?
  • Which battery type segment generated maximum revenues in 2019 and identify the most promising application during the forecast period?
  • What industry segment in leading in India Lithium Ion Battery market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Battery Type, By Voltage, By Power Capacity, By Industry
Regional Coverage	India
Companies Profiled	Profiles of Top 10 Major Companies Operating in “India Lithium Ion Battery Market”
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

India Lithium Ion Battery Market by Battery Type

• • Lithium Nickel Manganese Cobalt (Li-NMC)
  • Lithium Iron Phosphate (LFP)
  • Others

India Lithium Ion Battery Market by Voltage

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

India Lithium Ion Battery Market by Power Capacity

• • Less Than 3,000 mAH
  • 3,000 TO 10,000 mAH
  • 10,000 TO 60,000 mAH
  • 60,000 mAH to 100 000 mAH
  • 100 000 mAH to 200 000 mAH
  • > 200 000 mAH

India Lithium Ion Battery Market by Voltage

• • Consumer electronics
  • Tele-communication
  • Automotive
  • Aerospace & Defense
  • Industrial
  • Commercial