The latest report published by IMARC Group, titled “India Lithium-Ion Battery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the Indian lithium-ion battery market reached a value of US$ 2.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.7 Billion by 2027, exhibiting at a CAGR of 15.3% during 2022-2027.
A lithium-ion, or Li-ion, battery refers to a rechargeable battery that has a high energy density. A standard lithium-ion battery can store up to 150 watt-hours of electricity in 1 kilogram of battery. It does not have a memory effect, on account of which it is not required to be discharged before recharging. Li-ion batteries are low maintenance and considered ideal for modern fuel gauge applications. These batteries find extensive applications ranging from automobiles to power sources for personal computers and mobile devices.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Indian Lithium-Ion Battery Market Trends:
The elevating demand for hybrid and electric vehicles, which employ lithium-ion batteries, is one of the key factors driving the market growth in India. Furthermore, various electronic gadgets, such as smartphones, tablets, laptops, etc., typically run on lithium-ion batteries. The rising demand for consumer electronics in the country has also propelled the sales of these batteries.
Additionally, the increasing product demand can be further attributed to its excess power storage capacity that is favorable during peak hours of electricity demand. Besides this, significant growth in the production of renewable energy, particularly solar and wind, is also augmenting the need for grid energy storage. All the factors mentioned above will continue to bolster the Indian lithium-ion battery market over the forecasted period.
Indian Lithium-Ion Battery Market 2022-2027 Analysis and Segmentation:
Breakup by Product Type:
- Lithium Cobalt Oxide
- Iron Phosphate
- Nickel Manganese Cobalt
- Manganese Oxide
- Others (Li-ion Nickel Cobalt Aluminium Oxide and Li-ion Titanate Oxide)
Breakup by Power Capacity:
- 0 to 3000mAh
- 3000mAh to 10000mAh
- 10000mAh to 60000mAh
- More than 60000mAh
Breakup by Application:
- Consumer Electronics
- Electric Vehicles
- Energy Storage
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape with Key Player:
The competitive landscape of the industry has also been examined with some of the lithium-ion battery manufacturers being.
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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