A new research study on the India lithium ion battery market has been recently added to the vast repository of Report Ocean. The report is titled “India Lithium-Ion Battery Market, By Type (Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Iron Phosphate and Others), By Components (Cathode, Anode, Electrolytic Solution, Others) By Application (Consumer Electronics, Industrial and Automotive), By Region; Size and Forecast, 2020-2025” and presents detailed information on this market on the basis of it past and current performance.
In recent years, lithium ion batteries have gain significant traction in India. The massive penetration of mobiles paved way for the growth of the India market for lithium ion batteries. The efficiency of these batteries in comparison with conventional ones has been fueling their demand substantially in the country. As per the study, the opportunity in the India lithium ion battery market is likely to expand at a tremendously high CAGR of 25.5% during the period from 2020 to 2025.
The most prominent driving force behind the rise of the India lithium ion battery market is the constant expansion in the automobile industry and the increasing penetration of electronic devices in this country. The wide-ranging application of these batteries in a number of devices, such as portable electronics, electric vehicles, and energy and natural resources, is likely to add to their demand over the next few years. Apart from this, the increasing uptake of smartphones, tablets, toys, wearables, power tools, payment devices, personal care devices, and digital cameras among consumers is expected to drive the market in the near future.
Impact of Covid 19 on India Lithium Ion Battery Market
Covid 19 indirectly impacted the India lithium ion battery market as the production and sale of these batteries disrupted due to the imposed lockdown. However, now, as there has been some relaxations in restrictions, the market is expected to regain its momentum soon.
Consumer Electronics Emerges as Leading Application Area for Lithium Ion Batteries
The research study examines the India lithium-ion battery market on the basis of the type, components, and the application. In terms of application, the market has been classified into the consumer electronics, industrial, and the automotive segments. Among the three, the consumer electronics segment has been reporting a higher demand for lithium ion batteries in across India. Researchers anticipate this scenario to remain so over the forecast period. Based on the type, the market has been segmented into lithium cobalt oxide, lithium manganese oxide, lithium iron phosphate, and several other types of lithium ion batteries. On the basis of the component, the market has been classified into cathode, anode, electrolytic solution, and others.
With a large pool of market participants, the market for lithium-ion batteries in India is highly fragmented in terms of business landscape. The leading companies, such as Reliance Industries Limited, Future Hi-Tech Batteries, JSW Group, Mahindra & Mahindra Limited, Adani Enterprise Ltd., Suzuki Motor Corp., Denso Corp., Toshiba Corp., Samsung SDI Co. Ltd., Hitachi Chemical Co. Ltd., Panasonic Corporation, and Bharat Heavy Electricals Ltd., are aggressively focusing on innovation and technologically advancing their products in order to remain relevant in this competitive environment.
- The massive penetration of mobiles paved way for the growth of the India market for lithium ion batteries.
- The consumer electronics segment has been reporting a higher demand for lithium ion batteries in across India.
The India Lithium-ion battery market is classified into:
- Lithium Cobalt Oxide
- Lithium Manganese Oxide
- Lithium Iron Phosphate
- Consumer Electronics
- Electrolytic Solution
- North Region
- East Region
- West Region
- South Region
Companies Mentioned in the Report
- Future Hi-Tech Batteries
- Reliance Industries Limited
- JSW Group
- Adani Enterprise Ltd.
- Mahindra & Mahindra Limited
- Suzuki Motor Corp.
- Toshiba Corp.
- Denso Corp.
- Samsung SDI Co. Ltd.
- Panasonic Corporation
- Hitachi Chemical Co. Ltd
- Bharat Heavy Electricals Ltd
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