India lithium-ion battery market is expected to grow at 35% CAGR during the forecast period.
India Lithium-ion Battery Market, by Power CapacityGrowing adaption of smart grid initiatives and the implementation of the lithium-ion-based energy storage system are expected to support the demand for India lithium-ion battery market. Lower consumer response, insufficient investments by companies, and lack of technological innovations restricted the proliferation of lithium-ion technology in the past year. However, the rise in technological developments and increasing need for cleaner energy sources have brought Li-ion batteries on the front across various industries as well as end-use sectors. India is a major importer of Li-ion batteries since the country does not have manufacturing operations for these batteries. However, to compensate for this challenge, companies are planning to start production of advanced Li-ion batteries in India itself.
The automotive segment is projected to dominate by 2026. This is attributed to the Indian government initiative to promote sales of electric vehicles to reduce vehicular pollution. Government of India has launched the New Electric Mobility Mission Plan 2020, which projects to have 6-7 million electric vehicles running on Indian roads by 2020. Smart city projects and green energy passage for power generation from renewable sources would enhance the overall installed capacity, thereby increasing the demand for energy storage batteries.
Lithium cobalt oxide (LCO) battery type is foreseen to hold the largest share in the India lithium-ion battery market during the forecast period. The energy density of Lithium cobalt oxide (LCO) battery is very high, and the cost of manufacturing these batteries is reasonable owing to the use of graphite carbon and cobalt. Lithium manganese oxide segment is growing significantly with a healthy CAGR during the forecast period owing to capable technology as their manganese-oxide components are earth-abundant, inexpensive, non-toxic, and provide better thermal stability. Lithium iron phosphate is growing with a fair CAGR during the forecast period. Lithium iron phosphate has various features such as long cycle life, high safety, and high-temperature resistance. Lithium iron phosphate batteries find application in energy storage devices, power tools, electric vehicles, and electric bicycles among others.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding India lithium-ion battery market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to emerging segment in India lithium-ion battery market.
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Scope of the India Lithium-ion Battery Market
India Lithium-ion Battery Market, by Type:
• Lithium Iron Phosphate
• Lithium Cobalt Oxide
• Lithium Titanate Oxide
• Lithium Manganese Oxide
• Lithium Nickel Cobalt Aluminum Oxide
• Lithium Nickel Magnesium Cobalt
India Lithium-ion Battery Market, by Vertical:
• Consumer Electronics
• Aerospace and Defense
India Lithium-ion Battery Market, by Power Capacity:
• 0 To 3000mah
• 3000mah to 10000mah
• 10000mah to 60000mah
• More than 60000mah
Key Player Analyzed in the Report:
• Samsung SDI Co. Ltd
• Panasonic India Pvt. Ltd
• LG Chem
• Sony India Pvt. Ltd.
• ACME Cleantech Solutions Private Limited
• Coslight India Telecom Pvt. Limited
• NEC India Private Limited
• Amco Saft India Limited
• Rajamane Telectric Pvt. Ltd
• Semyung India Enterprises (Pvt) Ltd
• Exicom Power Solutions
• Coslight India Telecom Private Limited
• Future Hi-Tech Batteries
• Delta Power Solutions India Private Limited
• BYD India Pvt. Ltd.
• Contemporary Amperex Technology Co. Limited (CATL)
This Report Is Submitted By : Maximize Market Research Company
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