Growth in the India Lithium-ion Battery market with expected market outstretch to more than US$ 11 Billion by 2027

August 19 07:20 2021
Growth in the India Lithium-ion Battery market with expected market outstretch to more than US$ 11 Billion by 2027
India Lithium-ion Battery Market – Industry Dynamics, Market Size, and Opportunity Forecast to 2027

Indian Lithium-ion Battery (LiB) market is broadly affected by increasing demand from the end of consumer electronics, one fifth of which is alone by smart phones. In the recent times, when electric vehicles are being preferred over conventional ones with the aim of reducing pollution, the LiB industry is expected to augment and win credit. With multiple players are working to set up new plants and ascend the current facilities, industry has seen a sharp rise in the number of players investing across the supply chain. The value chain of the lithium-ion battery

Indian Lithium-ion Battery (LiB) market generated a considerable revenue amount in 2019 and is projected to reach US$ 11 billion by 2027, growing at a CAGR of 21.8% from 2021 to 2027. 

The shift of trend and drastic change in lifestyle and buying preferences of middle-class segment of the income category with a strong inclination towards consumer electronics products like smartphones, laptops, home devices and many other appliances is one of the major reasons which results in escalated demand of LiB in India. Also, rapid urbanization, advancement in renewable energy and energy security has revolutionized the vehicle market and increased the penetration of electric vehicles (EV) sales. Additionally, the research and development sectors are investing a lot to support domestic industry of EV in India. Indian Institute of Technology, Madras has an R&D center devoted to new and advanced battery technology. Indian government is determined to maximize the economic benefits of a rapid shift to electric mobility in India’s rapidly growing urban areas. The aforementioned factors support the growth of the India LiB market. Conversely, heavy reliance on imports owing to limited lithium reserves in India and competition imposed on lithium by other advanced technologies like zinc batteries or flow batteries may hamper the smoothly driven the market growth.

The market comprises of different types of lithium-ion batteries including LCO, LFP, NCA, NMC and LMO. However, Lithium Ferro Phosphate (LFP) dominates the market share owing to composition of metals such as iron & phosphate, which are cheap and available in abundance in the country. Lithium Cobalt Oxide (LCO) batteries are growing at the highest CAGR due to dropping price of cobalt. The batteries are available at varying power capacities based on the type and application of the battery ranging from 0-300mAH to more than 60,000 mAH. Among the various applications of LiBs, the automotive OEM dominates the market share. The different forms of battery packs like pouch, cylinder, prismatic and others are available in the market and the pouch battery pack can be found in many applications in military, consumer, as well as the automotive industries.

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The regional analysis of the India market included the study of regions such as 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 East India; and Gujarat, Maharashtra, and Madhya Pradesh under West India category. South zone is the dominating region for Lithium-ion battery market in India owing to big assembling units present in the region along with additional presence of several ports and mines required to produce Li-ion battery.

Amara Raja Batteries Limited (ARBL), one of the leading players in the market has recently installed Electric Vehicle (EV) battery charging and battery swapping stations in Tirupati in collaboration with Tirupati Municipal Corporation, as a part of its Smart City Programme. Tata Chemicals, a great competitor of ARLB in LiB market launched Li-ion battery recycling plant with an objective of commercial recovery of cathode active materials from spent lithium-ion cells/ batteries. Other key players doing well in the market are HBL Power Systems, Eon Electric Ltd., Exide Industries Ltd., Microtex Group, BHEL and others. India LiB Market can be segmented based on following:

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/ State

o   North India

Uttar Pradesh

Delhi

Haryana

Rajasthan

o   South India

Tamilnadu

Karnataka

Andhra Pradesh

Kerala

o   West India

Maharashtra

Gujarat

Madhya Pradesh

o   East India

Assam

Bihar

West Bengal

Developing economies offer sufficient chances to major players of this market to extend their business. Companies are actively engaged in the marketplace and adopting various key strategies to acquire majority of the market share in the global place. Some of the key strategical developments are product launches, geographic expansions, partnerships, joint venture and others. The market is is witnessing a moderate intensity of threat of new entrants, due to initial phase of Li-ion battery manufacturing in India. Also, lack of availability of raw material domestically and high reliance on imports act as a hindrance to smooth path and competitive pricing for market entrants. These factors demotivate the option of entering component manufacturing and lowers the easy entry of new companies in the lithium-ion battery market.

Several key players contributing to the market growth are:

Local Players in India Lithium-ion Battery Industry

o   The Indian Space Research Organisation (ISRO)

o   Amara Raja Group

o   Exide Industries Ltd.

o   Microtex Energy Pvt. Ltd.

o   Tata Chemicals

o   Bharat Heavy Electricals Ltd.

o   Other prominent players

Global Players in Lithium-ion Battery Industry

o   BYD Company

o   LG Chem

o   Panasonic Corporation

o   Samsung SDI

o   Toshiba Corporation

o   Other prominent players

Read Full Report @ https://www.astuteanalytica.com/industry-report/india-lithium-ion-battery-market

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