India Lithium-ion Battery Market By Battery Type (Lithium Nickel Magnesium Cobalt (LI-NMC), Lithium Ferro Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Titanate Oxide (LTO), Lithium Manganese Oxide (LMO), Lithium Nickel Cobalt Aluminum Oxide (NCA); By Capacity (0-3,000 mAH, 3,000-10,000 mAH, 10,000-60,000 mAH, More than 60,000 mAH); By Form/Design (Pouch, Cylindrical, Elliptical, Prismatic, Custom Design); By Application (Consumer Electronic OEMs, Automotive OEMs, Energy Storage, Industrial OEMs, Others); By Region (North India, South India, West India, East India) – industry Dynamics, Market Size, Opportunity, and Forecast To 2027
- Published On: 10-Aug-2021 | Format:
| Report ID: AA0821086
Delivery: 2 to 4 Hours
India Lithium-ion Battery Market generated US$ 2,441.7 Mn in revenue in the year 2020 and is estimated to record 21.8% CAGR during the forecast period, 2021-2027. The market in 2027 is valued at US$ 11,135.8 Mn. South India is analyzed to be the leading region for Lithium-ion batteries owing to big assembling units present in the region along with the additional presence of several ports and mines required to produce Li-ion batteries. However, developments and investments made in the states of West India such as Gujarat and Maharashtra may allow the region to show higher growth over the forecast period. The report on the Lithium-ion battery market provides opportunity analysis for the following regions and states there in - Uttar Pradesh, Rajasthan, Delhi, and Haryana in North India; Tamil Nadu, Kerala, Karnataka, and Andhra Pradesh in South India; West Bengal, Bihar, and Assam in Eastern India; and Gujarat, Maharashtra, and Madhya Pradesh in Western India.
This report provides an analysis of India market for Lithium-ion batteries for the period 2017 to 2027, wherein 2017-2019 represent historic data, 2020 has been considered as the base year and is on actuals, while 2021-2027 are forecast values, reflecting the impact of different factors on the growth trend. The report presents analysis detailed across 10 chapters totaling 182 pages, with 36 extensive tables and 55 figures.
What's inside the India Lithium-Ion Battery Market Report?
The report includes Lithium-ion battery market analysis on basis of the following parameters – Type, Power Capacity, Application, and Form/ Design. Among various types of Lithium-Ion batteries, about 35% of the market share was held by Lithium Cobalt Oxide (LCO) in 2020. This dominance is owed to its applications in laptops, cellphones, and other electrical appliances. By Power Capacity, batteries with more than 60,000 mAh capacity are analyzed to see the highest compound annual growth of about 28%over the forecast period. The favorable developments driving the adoption of EVs are seen as crucial reasons for this significant growth.
Due to the abrupt spike in gasoline costs and the negative impact of burning hydrocarbons on the environment and human health, the BEV automotive OEM application market is expected to grow at the highest growth rate. In terms of design for Lithium-ion batteries, the pouch form held the maximum market value in 2020. The pouch cell makes the most efficient use of space, with a packaging efficiency of 90 to 95%, the greatest among battery packs. The pouch battery pack has a variety of uses and higher adoption in the consumer, military, and automotive industries.
A glimpse of the India Lithium-Ion Battery Market
A large pool of population has already transformed from self-reliance to a technology-dependent lifestyle and the remaining are quickly transforming. Batteries are very important in this digital era, with applications covering the most diverse of cases, starting from a car to monitoring medical procedures, batteries find use in almost all devices we see around us. A plethora of consumer electronics including cell phones, laptops, computers, cars is all battery-dependent. Different types of batteries with variable power capacities are required for different devices; say LCO for portable devices, LPF in automotive, and others so on. India is a developing country and South India has ports and mines required to produce Li-ion batteries along with large assembling units which makes it a suitable zone for the LiB market. Other regions in India are also working to build the resources and development suitable enough to support the India Lithium-ion battery market growth.
With advancements in technology, the operating effectiveness of the gadget or appliance running on a lithium-ion battery has improved, largely due to the battery's smaller size and lighter weight, allowing optimal utilization of space. As India prepares to build its roadmap for transition to electric transportation, global manufacturers are expanding their footprints in the region looking to set up assembly units for lithium-ion batteries. This eventually is expected to lead to boost the lithium-ion battery manufacturing capacity in the country on a large scale.
Rising usage of electric vehicles and electronic devices that run on Li-ion batteries is expected to see healthy growth throughout the forecast period, thereby necessitating Li-ion battery recycling and giving an additional scope for the India Lithium-ion battery market. Recycling lithium-ion batteries is also important to reduce reliance on imports of raw metals, in particular, Lithium, and to avoid health and environmental risks. The Government of India has announced laws that provide tax breaks to recyclers to encourage the recycling of Li-ion batteries. Battery manufacturers are liable to collect spent batteries under the Extended Producer Responsibility (EPR) regulations. Battery manufacturing firms have raised their share of recycling through approved recyclers because of the implementation of the Battery Waste Management Rules, which has greatly supported the availability of raw materials in the domestic market.
Various initiatives have been taken by the Indian government and investments are being made by leading market players of the country for the establishment of lithium-ion battery assembly factories. Panasonic Corporation is looking into the possibility of establishing a factory in India to assemble lithium-ion battery modules. Amara Raja Batteries Ltd and Exide Industries Ltd have also collaborated with international firms to begin assembling Li-ion batteries in the country. On the other hand, Indian Oil Corporation Ltd. recently revealed plans to establish a 1 GW battery manufacturing plant in India in collaboration with an international start-up company.
In India, auto manufacturers are collaborating to enter the Lithium-ion battery market, largely considered as an extension of the supply chain for electric vehicles. Suzuki Motor Corp. is partnering with Toshiba Corporation and Denso to build a factory in Gujarat to manufacture lithium-ion batteries, with an investment of US $180 mn. Similarly, Li Energy established a Li-ion cell manufacturing facility in Tamil Nādu with plans to scale it up to 150 MW.
Competitive Landscape of the India Lithium-Ion Battery Market
The lithium-ion battery market in India is considered oligopolistic in nature with few players dominating the majority of leading demand markets. It is expected to shift to a more competitive environment as these players consolidate their positions and with more international players fast expanding their presence in the domestic market. For instance, as part of its smart city program, Amara Raja Batteries has established electric vehicle (EV) battery charging and battery swapping facilities in Tirupati in conjunction with Tirupati Municipal Corporation. Similarly, Toyota Motor Corporation and Panasonic Corporation have formed a joint venture to develop automotive prismatic batteries for electric vehicles (EVs). Other players profiled in the report include the following – ISRO, Amara Raja Group, HBL Power Systems Limited, EON Electric Ltd., Exide Industries Ltd., Microtex Energy Pvt. Ltd., Mercom Capital Group, LLC, Tata Chemicals, Bharat Heavy Electricals Ltd., BYD Company, LG Chem, Panasonic Corporation, Samsung SDI, BAK Group, Hitachi Corporation, Johnson Controls, and Toshiba Corporation
The competition landscape section of the report covers descriptive profiles of prominent local players from India and global markets. Details covered for these players include – Business description, company financials, key details, strategy outlook, list of products, and recent developments.
Insights on Segmentation of the Lithium-ion Battery Market
By Product Type
- Lithium Nickel Magnesium Cobalt (LI-NMC)
- Lithium Ferro Phosphate (LFP)
- Lithium Cobalt Oxide (LCO)
- Lithium Titanate Oxide (LTO)
- Lithium Manganese Oxide (LMO)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
By Power Capacity
- 0-3,000 mAH
- 3,000-10,000 mAH
- 10,000-60,000 mAH
- More than 60,000 mAH
By Form/Design
- Pouch
- Cylindrical
- Elliptical
- Prismatic
- Custom Design
By Application
- Consumer Electronics OEMs
- Smartphones
- Laptops
- UPS Systems
- Smart Cameras
- Smart Watches
- Smart Glasses
- Smart Textiles
- Others
- Automotive OEMs
- Hybrid Electric Vehicles (HEVs)
- Battery Electric Vehicles (BEVs)
- Others (Service Stations/Dealers)
- Energy Storage
- Commercial
- Industrial
- Residential
- Utilities
- Industrial OEMs
- Military
- Industrial Equipment
- Medical
- Marine
- Telecommunication
- Mining
- Forklifts
- Others
- Other OEMs
- Aftermarket
By Region
- North
- Uttar Pradesh
- Rajasthan
- Delhi
- Haryana
- South
- Tamil Nadu
- Kerala
- Karnataka
- Andhra Pradesh
- East
- West Bengal
- Bihar
- Assam
- West
- Gujarat
- Madhya Pradesh
- Maharashtra
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FREQUENTLY ASKED QUESTIONS
In 2020, India lithium-ion battery market earned US$ 2,441.7 million in revenue.
The market is expected to grow at a compound annual growth rate of 21.8 percent from 2021 to 2027, according to the report.
The report gives a comprehensive market size analysis and forecast for numerous factors at the segment level. These includes: Type (6 sub segments), power capacity (4 sub segments), application (6 sub segments), form/design (5 sub segments) and region (4 sub segments)
In North India, the report covers Uttar Pradesh, Rajasthan, Delhi, and Haryana; in South India, Tamil Nadu, Kerala, Karnataka, and Andhra Pradesh; in Eastern India, West Bengal, Bihar, and Assam; and in Western India, Gujarat, Maharashtra, and Madhya Pradesh.
The report includes descriptive profiles of eight significant Indian local players as well as eight key global players. Business description, firm financials, key details, strategy outlook, list of products, and current developments are all covered for these players.
The market for lithium-ion battery is being driven by rising consumer electronics use because of radical changes in middle-class lifestyles and purchasing tastes, as well as the operational feasibility of lithium-ion batteries.
The material cost segmentation holds the maximum share of 66% while remaining has been covered by tax, equity return, term loan, O & M insurance, energy, labor, R & D and working capital.
Yes, the report analyses the impact of the Covid 19 pandemic on market growth trends based on several characteristics such as lithium-ion battery manufacturing, assembly, supply chain, and trade (EXIM).
The demand-supply gap in India is determined based on imports, exports, and production in the country, and it is noted to be narrowing as lithium-ion battery manufacture has recently begun in the country.
The loose oligopoly nature of the India lithium-ion battery market is expected to shift towards monopolistic form in the forecast period.
Yes, to encourage the recycling of Li-ion batteries, the Indian government has announced laws that provide tax breaks to recyclers.
Developments and investments made in western states such as Gujarat and Maharashtra have contributed to the region's highest growth rate, with a CAGR of 23.1 percent over the forecast period.
