Indian Lithium Ion Battery Market- Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Indian Lithium Ion Battery Market by Component (Cathode, Anode, Electrolytic Solution, and Others) and End-Use Industry (Electrical & Electronics, Automotive, and Industrial): Global Opportunity Assessment, Industry Analysis and Industry Forecast, 2016 – 2023
Introduction: Indian Lithium Ion Battery Market
Lithium Ion Technology is the future of battery technology in the world. Li-ion batteries (Lithium Ion) are rechargeable batteries with high energy density and very low self-discharge. These batteries are all around us, from mobile phones, tablets, laptops, digital cameras to battery operated electric vehicles and also aerospace equipment. With growing environmental concerns and rise in demand of clean energy, the market of lithium ion batteries is expected to increase. They also offer a better alternative to traditional nickel batteries being small and light weight. In fact, the entire global market is expected to increase at a compound annual growth rate (CAGR) of 17.1% growing to a market worth 100.433-million-dollar industry. Indian market itself is forecasted to grow at a CAGR of over 22 percent by 2023.
Market Dynamics of Indian Lithium Ion Battery Market
The main reason for the increased demand of Li-ion batteries is partly due to rising urbanization calling for a renewable alternative for energy, rise of solar energy products in India. Also, govt schemes like National Electric Mobility Mission Plan (NEMMP) and Make in India encourage clean, pollution free and high-performance source of energy. A rising interest in electric cars all over the world, popularised by companies like Tesla who proved Li-ion powered electric cars have the potential to surpass the performance of traditional fuel driven cars while also being environmentally friendly is also a big reason for major shift the market.
In September of 2018, The Prime Minister Office announced a proposal for incentive scheme worth 5500 Crore INR for promoting electric vehicles in India most of which will fund the manufacturing of Li-ion Batteries to reduce their prices and thereby the prices of electric vehicles. Presently India doesn’t have a Lithium ion battery cell production plant and has to import from the manufacturers like Panasonic, LG Chem etc.
Indian Lithium Ion Battery Market Market Segmentation
Based on type the Indian Lithium Market has been segmented into the following, Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt Oxide. Based on the application it can be divided into Consumer Electronics which covers all the Mobile Phones, Laptop, Tablet Batteries. Automobile batteries are fit into Electric cars and two wheelers, Industrial Application include usage in mining equipment, cranes, fork-lift, medical, military and even textile industry.
Having little to no production of Li-ion batteries, India’s imports have seen a steady rise over the year, which leaped by 19.93 percent from 274 million in 2016 to 328 in 2017. More than 89 percent of the Li-ion batteries are sourced from China, it also imports from USA, Hong Kong, Vietnam etc.
The key players in this market are Samsung SDI Co. Ltd, Panasonic India Pvt. Ltd, LG Polymers India Pvt Ltd, Sony India Pvt Ltd. A lot of other companies are starting to rise including Amara Raja Batteries Ltd, which is also India’s second biggest traditional batteries manufacturer and seek to build Li-ion assembly plant to make sure they grab their share of upcoming demand for the batteries. Along with this a lot of start-ups (like Euclion energy) are emerging trying to offer their electric vehicles as well as innovative battery technologies.
The report contains comprehensive analysis on
- Battery Market Current Trends
- Lithium ion battery Market Drivers, Restraints and Opportunities
- Lithium ion battery Market Segmentation
- Competition from producers within and imports
- Geographical analysis of Lithium ion battery production
- Strategic Key Players
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of volume and value
- Recent market trends and Impact Factors
- R&D Status and Technology Overview