India Lithium-Ion Battery Market (By Material Type: Cathode, Electrolytic Solution, Anode, and Other Materials; By Industry Vertical) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 - 2024
India Lithium-Ion Battery Market is estimated to reach $5,022 Million by 2024; growing at a CAGR of 26.2% from 2016 to 2024. Lithium-ion or Li-ion batteries are rechargeable batteries with high energy density and are primarily used in portable devices. The market for these batteries is expected to witness a substantial growth due to their increasing use in smartphones, digital cameras, tablets/PCs, and power tools.
Additionally, the demand for Li-ion batteries in the automobile industry is likely to increase with the growing demand for electric vehicles. These batteries have gained popularity among the automobile companies as they offer a substitute to nickel metal batteries used in electric vehicles, due to their small size & light weight.
The government is expected to encourage manufacturers to setup facilities for making lithium-ion batteries in India to lower the cost of electric vehicles is the primary factor to drive the Indian lithium ion battery. Besides, rising disposable income has led to rise in demand for electronic devices such as smartphones and tablets fueling the growth of lithium-Ion batteries in the India.
Moreover, rise in government initiative to reduce pollution level have also supported the Indian lithium-ion battery market. However, high cost and risk of fire in electronic devices may limit the market growth. Furthermore, growth in automobile industry and growing trend of electronic devices among youth consumers is expected to open up new growth opportunities for the market in the coming years.
The India lithium-ion battery market is mainly classified on the basis of material type and industry vertical. Classification by material type includes cathode, anode, electrolytic solution, and other materials (binders, separators, etc.). Industry vertical segment is classified into automotive (car, buses, and trucks, train & aircraft, scooters & bikes), electronics (smartphones, laptops/tablets, UPS, and others), industrial (mining equipment, smart grid, construction equipment), and other industry verticals.
Prominent players operating in the India lithium-Ion battery market include China BAK Battery Co. Ltd., Samsung SDI Co. Ltd., Hitachi Chemical Co., Ltd., Panasonic Corporation and Toshiba Corporation among others.
The key takeaways from the report
- The report will provide detailed analysis of India Lithium-Ion Battery Market with respect to major segments namely as material type and industry vertical
- The report will include the qualitative and quantitative analysis with market estimation over 2015 - 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of India Lithium-Ion Battery Market has been included in the report
- Profile of the key players in the India Lithium-Ion Battery Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of the India Lithium-Ion Battery Market
Material Type Segments
- Electrolytic solution
- Other Materials
Industry Vertical Segments
- Cars, Busses and Trucks
- Train and Aircraft
- Scooters and Bikes
- Mining Equipment
- Smart Grid
- Construction Equipment
- Other Industry Verticals