India Lithium-ion Battery Market Showing Impressive Growth During Forecast Period 2023 to 2031 | ISRO, Amara Raja Group, HBL Power Systems Limited, EON Electric Ltd

Astute Analytica has announced the release of its India Lithium-ion Battery Market report, which will present all the latest trends in the market. The study also contributes to a quick estimation of the market's size, which is expected to expand significantly over the envisioned period. Furthermore, the report justifies new technological developments and mechanical enhancements when demand for this service/item grows globally.

The India Lithium-ion Battery Market generated US$ 2,441.7 Mn in revenue in the year 2020 and is estimated to record 21.8% CAGR during the forecast period, 2022-2027. The market in 2027 is valued at US$ 11,135.8 Mn.

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A complicated and significant component of the global economy and supply chain network is the chemical sector. Chemicals are created by transforming raw resources like water, minerals, metals, fossil fuels, and others into thousands of diverse products essential to contemporary life as we know it. Over US$ 5.7 trillion was made by the global chemical industry in total revenue in 2022.

In order to effectively combat climate change, chemical manufacturers can play a critical role. Chemicals and materials are omnipresent in contemporary life; therefore, major changes will be required for chemical makers to function in a changing geopolitical environment on a global scale, either proactively or reactively. Chemical firms will probably need to prepare for difficulties in the upcoming year, such as global inflation and oil price instability. In light of these factors, 2023 may be a pivotal year for a change in strategy.

Chemical companies' decision-making processes are evolving as a result of digital implementation. In order to monetize the current investment pool before extending to fresh areas, the near-term focus will be on maintaining current platforms and capabilities.

The chemical industry will concentrate in Asia, more notably in China. India will eventually resemble China if development proceeds steadily, but only after a few decades.

An association market share analysis is included in the market studies to provide a more thorough picture of the important business players. Additionally, the studies cover important market developments such as mergers and acquisitions, innovation launches, agreements, collaborations, cooperative efforts, joint ventures, inventive work, and the geographic expansion of key market players on a global and regional scale. The market study also incorporates a valuable example and a product portfolio analysis of different associations by region.

Leading Player
The lithium-ion battery market in India is considered oligopolistic in nature with few players dominating the majority of leading demand markets. It is expected to shift to a more competitive environment as these players consolidate their positions and with more international players fast expanding their presence in the domestic market.

For instance, as part of its smart city program, Amara Raja Batteries has established electric vehicle (EV) battery charging and battery swapping facilities in Tirupati in conjunction with Tirupati Municipal Corporation. Similarly, Toyota Motor Corporation and Panasonic Corporation have formed a joint venture to develop automotive prismatic batteries for electric vehicles (EVs).

Other players profiled in the report include the following - ISRO, Amara Raja Group, HBL Power Systems Limited, EON Electric Ltd., Exide Industries Ltd., Microtex Energy Pvt. Ltd., Mercom Capital Group, LLC, Tata Chemicals, Bharat Heavy Electricals Ltd., BYD Company, LG Chem, Panasonic Corporation, Samsung SDI, BAK Group, Hitachi Corporation, Johnson Controls, and Toshiba Corporation

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Segmentation Overview

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:
North
Uttar Pradesh
Rajasthan
Delhi
Haryana
South
Tamil Nadu
Kerala
Karnataka
Andhra Pradesh
East
West Bengal
Bihar
Assam
West
Gujarat
Madhya Pradesh
Maharashtra

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This release was published on openPR.