The India lithium-ion battery market size reached USD 2.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 8.7 Billion by 2032, exhibiting a growth rate (CAGR) of 12.9% during 2024-2032.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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USD 2.8 Billion |
Market Forecast in 2032
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USD 8.7 Billion |
Market Growth Rate (2024-2032) | 12.9% |
A lithium-ion battery is an advanced rechargeable and reusable source of power consisting of lithium ions in its electrochemistry. The battery comprises organic electrolytes, graphite anodes and lithium cobalt oxide and lithium manganese oxide cathodes. It has high energy density and is widely utilized in portable consumer electronics, such as smartphones, laptops, tablets, digital cameras, music players and power tools. In comparison to the traditionally used lithium batteries, lithium-ion variants can be completely discharged and charged again without deterioration, have a higher charge storage per unit mass and unit volume with low self-discharge rates. As a result, they find extensive application across industries, such as electronics, automotive, military and aerospace.
The India lithium-ion battery market is primarily driven by the increasing demand for consumer electronics among the masses. There is a rapid shift in the consumer preference toward compact and portable devices, which has led to the escalating requirement for efficient storage and power backup solutions. Moreover, the widespread adoption of lithium-ion batteries in automobiles is also providing a thrust to the market growth. Lithium cobalt oxide (LCO) and lithium nickel manganese cobalt oxide (NMC) batteries are extensively used in hybrid and electric vehicles (H/EVs) as they have low self-heating rates and provide enhanced vehicle efficiency, longer distance coverage and shorter charging time. Additionally, the implementation of favorable government policies promoting the industrial manufacturing and utilization of lithium-ion batteries for sustainable energy distribution is favoring the market growth. Other factors, including the widespread utilization of robotic solutions across industries, along with the deployment of smart grid and renewable energy systems, especially in the rural areas, are driving the market growth across the country.
IMARC Group provides an analysis of the key trends in each sub-segment of the India lithium-ion battery market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on product type, power capacity and application.
Breakup by Product Type:
Breakup by Power Capacity:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players. The companies in the market are adopting various strategic initiatives including new product launches and business alliances to gain a significant India lithium-ion battery market share.
Report Features | Details |
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Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | Billion USD |
Segment Coverage | Product Type, Power Capacity, Application, Region |
Region Covered | North India, West and Central India, South India, East India |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The India lithium-ion battery market was valued at USD 2.8 Billion in 2023.
We expect the India lithium-ion battery market to exhibit a CAGR of 12.9% during 2024-2032.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary closure of numerous end-use industries for lithium-ion batteries.
The escalating demand for electric vehicles, along with the growing application of lithium-ion batteries based on their excess power storage capacity, is primarily driving the India lithium-ion battery market.
Based on the product type, the India lithium-ion battery market can be segmented into lithium cobalt oxide, lithium iron phosphate, lithium nickel manganese cobalt, lithium manganese oxide, and others (li-ion nickel cobalt aluminum oxide and li-ion titanate oxide). Currently, lithium cobalt oxide holds the majority of the total market share.
Based on the power capacity, the India lithium-ion battery market has been divided into 0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh, and more than 60000mAh. Among these, 3000mAh to 10000mAh currently exhibits a clear dominance in the market.
Based on the application, the India lithium-ion battery market can be categorized into consumer electronics, electric vehicles, energy storage, and others. Currently, consumer electronics segment accounts for the largest market share.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where North India currently dominates the India lithium-ion battery market.