The lithium ion battery refers to a rechargeable battery having an advanced battery technology. It uses li-ion as a major component of its electrochemistry. Li-ion batteries are light in weight as it made up of lithium and carbon. The Lithium battery uses various materials such as anode, cathode, electrolyte, separator, and current collector. During charging, li-ion travels from cathode through an electrolyte to anode, and during discharging, li-ion travels from anode through electrolyte to cathode. Li-ion battery is extensively used in various sectors such as consumer electronics, automotive, medical, industrial, power, telecommunication, among others. Li-ion offers multiple advantages such as high power density, fast charging and other benefits.

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The major factors that are driving the growth of the India Lithium-Ion Battery market includes the increasing demand for consumer electronics and rising demand for electric vehicles. The government of India launched initiatives such as FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) to fuel the growth of electric vehicles. The various government initiatives to reduce carbon emission is increasing the need for an electric vehicle in India, which raises the demand for Li-ion batteries due to its fast charging and high density. Additionally, the government of India also introduced subsidy and tax benefits for manufacturing li-ion batteries in India under the government’s Modified Special Incentive Package Scheme(M-SIPS) coupled with the reducing in Li-ion battery prices will create new opportunities in the market. This, in turn, increases the demand for Li-ion batteries. The upcoming R&D activities by different companies and battery manufacturers and the growing demand for automation and battery-based equipment in industries such as manufacturing, and power sector, will further fuel the growth of the market. However, the safety issue associated with li-ion battery storage and transfer may hamper the growth of the market.

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Based on the Battery, the Lithium Nickel Manganese Cobalt is expected to grow at a higher CAGR in the market during the forecast period owing to the growing adoption of these batteries in the automotive, consumer electronics, electrical storage systems, and power tools due to its lightweight, high density, rapid charging capability features. Li-NMC battery is used in electric vehicles such as a hybrid electric vehicle, fully-electric vehicle, and plug-in hybrid electric vehicle as it provides high safety.

Based on the voltage, the above 36V segment is projected to lead the market during the forecast period owing to the increasing demand for above 36V li-ion battery due to the increasing demand from end-use sectors such as automotive, marine, power, military, telecom, among others. This battery is majorly used in automotive, military, telecom, among other industries, as it provides robustness and higher power than other types of the battery such as lead-acid.

Based on the industry, the automotive segment is projected to lead the market during the forecast period owing to the increasing demand for electric vehicles and favorable government policies related to an electric vehicle. For instance, the Government of India Vision 2030, which aims to 100% electrification of public transport and 40% of personal mobility by 2030. Li-ion is used in electric buses, cars among others which is employs as a public transport in India which fuel the growth of the market.

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Various notable players in the India Lithium Ion Battery market include Exide Industries Limited, Amara Raja Batteries Ltd, Suzuki Corporation, Toshiba Corporation, Exicom Power Solutions, Samsung SDI, Panasonic Corporation, LG Chem, HBL Power Systems Limited, BAK Group, BYD Co Limited and among others.

Key Development:

• • In 2020, Suzuki entered in Joint Venture with Toshiba, and Denso for manufacturing li-ion batteries in India. The company has committed to invest around 520 million (INR 3,715 Cr) for Li-ion battery production. This JV aims to develop 30 million Li-ion cells by 2025.
  • In 2018, LG Chem entered into a partnership with Mahindra & Mahindra for li-ion technology. LG Chem will develop a cell exclusively for India application and will also supply Li-ion cells based on NMC (nickel-manganese-cobalt) chemistry with high energy density. LG Chem also Li-ion battery modules for Mahindra Electric.

The India Lithium Ion Battery market has been segmented based on the Battery, Power Capacity, Voltage, and Industry. Based on the Battery, the market is segmented into Lithium Nickel Manganese Cobalt (Li-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Titanate Oxide (LTO), Lithium Manganese Oxide (LMO), and Lithium Nickel Cobalt Aluminum Oxide (NCA). Based on Power Capacity, the market is segmented into Less Than 3,000 mAH, 3,000 TO 10,000 mAH, 10,000 TO 60,000 mAH, and More Than 60,000 mAH. Based on Voltage, the market is further segmented into Low (Below 12 V), Medium ( 12 V – 36 V), and High (Above 36 V). Based on Industry, the market is segmented into Consumer Electronics, Automotive, Aerospace & Defense, Marine, Medical, Industrial, Power, and Telecommunication. Consumer Electronics is further segmented into Smartphones, UPS, laptops, and Others. Automotive is further segmented into battery electric vehicles and plug-in hybrid electric vehicles. Aerospace and defense are further segmented into Commercial Aircrafts and Defense. Marine is further segmented into Commercial, Tourism, and Defense. Industrial is further segmented into mining equipment, construction equipment, and forklifts, automated guided vehicles (AGV), and automated mobile robots (AMR).

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Key questions answered in this research report:

• • At what pace is the India Lithium Ion Battery market growing? What will be a growing trend in the future?
  • What are the key drivers and restraints in the India Lithium Ion Battery market? What will be the impact of drivers and restraints in the future?
  • Which battery generated maximum revenues in 2019 and identify the most promising battery during the forecast period?
  • What are the various industry areas of the India Lithium Ion Battery market, and how are they 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, By Power Capacity, By Voltage, By Industry
Regional Coverage	India
Companies Profiled	Exide Industries Limited, Amara Raja Batteries Ltd, Suzuki Corporation, Toshiba Corporation, among others, a total of 11 companies covered.
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

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

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
  • More Than 60,000 mAH

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 Industry

• • Consumer Electronics
    • Smartphones
    • UPS
    • Laptops
    • Others (Games, Gardening Tools, and Drilling)
  • Automotive
    • Battery Electric Vehicles
    • Plug-In Hybrid Electric Vehicles
  • Aerospace & Defense
    • Commercial Aircrafts
    • Defense
  • Marine
    • Commercial
    • Tourism
    • Defense
  • Medical
  • Industrial
    • Mining equipment
    • construction equipment
    • Forklifts, automated guided vehicles (AGV), and automated mobile robots (AMR).
  • Power
  • Telecommunication

Leading Market Players (Option 1: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Exide Industries Limited
  • Amara Raja Batteries Ltd
  • Suzuki Corporation
  • Toshiba Corporation
  • Exicom Power Solutions
  • Samsung SDI
  • Panasonic Corporation
  • LG Chem
  • HBL Power Systems Limited
  • BAK Group
  • BYD Co Limited