India Lithium-ion Battery Market Expected to Grow with a CAGR of over 23% by 2025: According to BlueWeave Consulting

India Lithium-ion Battery market is expected to grow with a CAGR over 23% during the forecast period 2018-2025. Increasing pollution concerns, rising adoption of electric vehicles, increasing income-levels and surging demand for quality and uninterrupted power are some of the key factors driving the growth of Lithium-ion batteries market in India. Further, rising usage of smartphones and other consumer electronics products is resulting in an increase in demand for higher energy density and faster-charging solutions. Additionally, growing consumer electronics market is complimenting the growth of Lithium-ion batteries market in India owing to its light-weight, high energy, and power capacity features. However, high cost and risk of fire in electronic devices may hinder the market growth in the coming years.

Moreover, increasing awareness towards portable and stationary energy storage coupled with government’s push towards solar and wind projects are expected to contribute to the growth of Lithium-ion battery market over the coming years. Furthermore, government efforts towards adoption of electric vehicles such as Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme as well as tax exemption on EVs are anticipated to provide much needed boost to the market.

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Growth in automobile industry and rise in demand for electronic devices is mainly driving the Indian Lithium-ion Battery market
Lithium-ion battery is an energy storage device capable of charging and discharging. In comparison to traditional battery technologies, they are competent of providing significantly high performance. These batteries have a potential to achieve very high energy and power densities in high-density battery applications such as electronics, automotive and standby power. Lithium-ion batteries are now widely implemented as the power or energy source for everything from portable electronics to electric vehicles and energy & natural resources. Increasing adoption of smartphones, tablets, wearable, toys, power tools, personal care devices, payment devices, and digital cameras among users have led to an improved demand for lithium-ion batteries in India.

Increase in 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 are the major factors driving the Indian lithium-ion battery market. The Indian automobile sector is one of the most prominent sectors of the country, accounting for over 8% of the national GDP. Growth in automotive sector has led to surge in demand for electric vehicles which has also supplemented the growth of lithium-Ion batteries.

Scope of the Report
The India Lithium-ion Battery market is segmented on the basis of type, components, and application. Based on type, the market is segmented into Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Iron Phosphate, and Others. On the basis of application, the market is segmented into Consumer Electronics, Industrial and Automotive. Based on Components, the market is segmented into Cathode, Anode, Electrolytic Solution and Others.

Competitive Dynamics
The India Lithium-ion Battery market is dominated by a number of players, amongst them the major players are Future Hi-Tech Batteries, Mahindra & Mahindra Limited, Reliance Industries Limited, JSW Group, Adani Enterprise Ltd, Suzuki Motor Corp., Toshiba Corp., Denso Corp., Samsung SDI Co. Ltd., Panasonic Corporation, Toshiba Corporation, Hitachi Chemical Co. Ltd, and Bharat Heavy Electricals Ltd. Companies in this industry are following different strategies to strengthen their market position.

Market Segmentation: India Lithium-ion Battery market
By Type
• Lithium Cobalt Oxide
• Lithium Manganese Oxide
• Lithium Iron Phosphate
• Others

By Application
• Consumer Electronics
• Industrial
• Automotive

By Components
• Cathode
• Anode
• Electrolytic Solution
• Others

In addition, the report provides analysis of the India Lithium-ion Battery market with respect to the following geographic segments:
• North Region
• East Region
• West Region
• South Region

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