Press release
India Lithium-ion Battery Market is projected to reach a value of USD 6.92 Bn by 2030
India Lithium-ion Battery Market
India's lithium-ion battery market is poised for significant growth, with projections indicating an expansion from USD 2.54 billion in 2023 to USD 6.92 billion by 2030, reflecting a robust CAGR of 15.4% . This surge is fueled by the rapid adoption of electric vehicles (EVs), advancements in battery technology, and supportive government policies aimed at fostering sustainable energy solutions.
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►Competitive Landscape
The market is witnessing intensified competition, with major players such as Tata Motors, Amara Raja Batteries, Reliance Industries, and Himadri Speciality Chemical making substantial investments in battery manufacturing and research. Notably, Tata Motors plans a $1.5 billion investment in a battery gigafactory in India, expected to commence production by 2026 .
Regionally, North India dominates the market due to its significant industrial base, high demand for electric vehicles, and large-scale renewable energy projects .
►Regional Insights
♦ Growth and Consolidation in the United States
Indian companies are actively seeking opportunities in the U.S. to enhance their technological capabilities. Himadri Speciality Chemical Ltd is in advanced negotiations to acquire a 10-12% equity stake in U.S.-based International Battery Company (IBC), specializing in lithium-ion battery cell technology . This strategic investment aims to bolster Himadri's footprint in the fast-growing battery technology sector.
♦ Opportunity and Trends in Asia-Pacific
The Asia-Pacific region, particularly India, is experiencing a surge in lithium-ion battery demand. In a significant development, Himadri Speciality Chemical partnered with Australian firm Sicona to establish India's first silicon-carbon plant, leveraging Sicona's SiCx® technology to enhance battery performance . Additionally, Tata Group has entered a memorandum of understanding with the Gujarat government to establish a lithium-ion cell manufacturing facility with an initial capacity of 20 GWh .
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♦ Trends and Updation in the Middle East and Africa
While the Middle East and Africa are emerging markets for lithium-ion batteries, Indian companies are exploring opportunities to expand their presence. The focus is on establishing supply chains and manufacturing units to cater to the growing demand for energy storage solutions in these regions.
Pharmaceutical companies are expanding their presence in this region through strategic collaborations and partnerships to tap into the growing market potential.
♦ Consolidation and Growth in Europe
Indian firms are also making strategic moves in Europe. Epsilon Advanced Materials (EAM) acquired an LFP cathode active material technology facility in Moosburg, Germany, marking India's entry into the European battery materials market . This acquisition positions India as a key player in the global lithium-ion battery supply chain.
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► Market Segmentation: In-Depth Analysis:
By Type
Lithium Nickel Manganese Cobalt
Lithium Iron Phosphate
Lithium Cobalt Oxide
Lithium Titanate Oxide
Lithium Manganese Oxide
Lithium Nickel Cobalt Aluminum Oxide
By Material
Cathode material
Anode material
Electrolyte material
Separator material
Current collector material
Others
By Capacity
Below 3,000 mAh
3,001 - 10,000 mAh
10,001 - 60,000 mAh
Above 60,000 mAh
By Application
Consumer Electronics
Automotive
Energy Shortage (Power)
Industrial Applications (Aerospace, Marine, Medical, Telecommunications, Others)
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/india-lithium-ion-battery-market/29994/
► Learn about the top players driving innovation in the Market :
1. Battrixx ( Bengaluru, Karnataka, India)
2. Contemporary Technology Co., Ltd. (CATL) ( Bengaluru, Karnataka, India)
3. Exicom Tele(Systems Limited ( New Delhi, India)
4. Grinntech Motors & Services Pvt. Ltd.( Chennai, Tamil Nadu, India)
5. Guoxuan High (Gotion High Tech Co. Ltd.) ( Bengaluru, Karnataka, India)
6. LG Energy Solution Ltd. ( Pune, Maharashtra, India)
7. Panasonic Life Solutions India Pvt. Ltd. ( Mumbai, Maharashtra, India)
8. Samsung SDI Co., Ltd. ( Bengaluru, Karnataka, India)
9. Toshiba Corporation (Toshiba India Pvt. Ltd.) ( New Delhi, India)
10. Trontek Electronics Pvt. Ltd. ( Pune, Maharashtra, India)
11. Coslight India Telecom Pvt. Ltd. ( Noida, Uttar Pradesh, India)
12. Cygni Energy Private Limited ( Hyderabad, Telangana, India)
13. Euclion Energy Private Limited ( Bengaluru, Karnataka, India)
14. Future Hi(Tech Batteries ( Surat, Gujarat, India)
15. Greenfuel Energy Solutions ( Bengaluru, Karnataka, India)
16. Log9 Materials Scientific Pvt Ltd. ( Bengaluru, Karnataka, India)
17. Loom Solar Pvt. Ltd. ( Faridabad, Haryana, India)
18. Okaya Power Pvt. Ltd. ( New Delhi, India)
19. Waaree ESS ( Mumbai, Maharashtra, India)
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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