India Lithium Ion Cell and Battery Market is Expected to Reach around 5.0 GWh in terms of Sales Volume by 2023: Ken Research
• The government is actively developing plans and taking actions to bring in sale of all electric vehicles by 2030. This is said to increase the demand for Lithium Ion Batteries in India.
• Reduction in GST rate on Lithium Ion Batteries is set to boost the market in India.
• Production of lithium ion cells will begin by 2020, as firms have established joint ventures and collaborations to begin production in the country. This will result in reduction in costs of acquiring lithium ion cells and batteries.
Competition is Intense and Increasing: Competition in the market is intense with increasing imports from China, and assembling of cells into packs in India. While some firms are only trading in battery packs and cells imported from abroad, others have been creating battery modules from cells they import to be sold in the domestic market. The market is still at a nascent stage and there is a huge scope for growth.
Emerging Joint Ventures: In future, it is anticipated that India will start manufacturing lithium ion batteries; this will reduce its dependence on China and other countries. To support various government initiatives and to facilitate a better infrastructure for production of various goods using li-ion cells, there have been major talks and discussions between various big groups to produce lithium ion batteries in India.
Increased Initiatives by the Government: The Indian government has come up with major policies and initiatives to transform the vehicle market in India. The zero emission policy aims to have all new vehicle sales by 2030 as zero emission vehicles. The government has come up with Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles in India (FAME and FAME II) program. The tax rate on lithium ion batteries in India has been reduced from 28.0% to 18.0%. The cut was announced by the Goods and Service Tax Council to boost the battery industry in India.
Analysts at Ken Research in their latest publication “India Lithium Ion Cell and Battery Market Outlook to 2023 - by Battery Type (LFP, NMC, LCO, MCA and Others), By Application (Consumer Appliances, Telecom Towers and Services, Industrial Application, Automotive and Others) and By Power Capacity” believe that the Battery Market in India has been growing and is expected to augment further given the aim of the government to have all new vehicles sales by 2030 to be Zero Emission Vehicles. The market is expected to register a positive CAGR of 36.3% in terms of volume during the forecast period FY’ 2019- FY’ 2023. The market is further expected to be driven by the rising competition from new companies entering the market.
For more information on the research report, refer to below link:
Key Segments Covered
• Market Segmentation
Type of Battery (LFP, NMC, LCO, NCA and Others)
Area of Application (Consumer, Telecom Services, Industrial Application, Automotive and Others)
Power Capacity (0-3,000mAh, 3,000-10,000mAh, 10,000-60,000mAh, 60,000 mAh and above)
Key Target Audience
• Distributors of Batteries
• Telecom Companies
• Manufacturers of Electric Vehicles
• Importers of Batteries
• Governmental Departments
Time Period Captured in the Report:
• Historical Period – FY’2014 - FY’2018
• Forecast Period – FY’2019 - FY’2023
• Exicom Power Solutions
• Coslight India Telecom Private Limited
• Future Hi-Tech Batteries
• Panasonic India Private Limited
• Delta Power Solutions India Private Limited
• ACME Cleantech Solutions Limited
• Samsung SDI Pvt. Ltd.
• BYD India Pvt. Ltd.
• Contemporary Amperex Technology Co. Limited (CATL)
• Others (ADL, LG Chem and Others)
Key Topics Covered in the Report
• Executive Summary
• Research Methodology
• Ecosystem– Supply Side
• Ecosystem– Demand Side
• Global Lithium Ion Cell and Battery Market
• India Battery Market Overview
• India Lithium Ion Cell and Battery Market
• Value Chain Analysis
• India Lithium Ion Cell and Battery Market Size, FY’2014-FY’2018
• India Lithium Ion Cell and Battery Market Segmentation
• Investment Model
• Trade Scenario
• SWOT Analysis
• Issues and Challenges
• Regulatory Framework
• Decision Making Parameters for Buyer of Lithium Ion Batteries in India
• Competitive Landscape
• Company Profiles of Major Companies in India Lithium Ion Cell and Battery Market
• Lithium Ion Battery Importer Profile
• Future Outlook and Projections, FY’2019 – FY’2023
• Analyst Recommendations
Ankur Gupta, Head Marketing & Communications
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.
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