In India, Lithium-ion (Li-ion) batteries have been emerging as an environment-friendly, rechargeable power source in comparison to conventional batteries such as lead-acid, nickel-cadmium and nickel metal hydride batteries. Increasing adoption of Li-ion batteries in consumer electronics such as smartphones, tablets, and healthcare equipment like surgical devices and respirators has been driving the market over the last few years. With continuing technological developments, Li-ion batteries are also being used in automobile industry, particularly in electric vehicles. The launch of electric vehicles is aimed at achieving sustainable development in India, which in turn is acting as a catalyst for market growth in the country. However, India lacks in manufacturing of Li-ion batteries, and largely imports it from other Asian countries including China, Taiwan and South Korea. Hence, lack of indigenous manufacturing units for Li-ion batteries is expected to act as a major growth inhibitor in the India market over the next five years.
According to “India Lithium-ion Batteries Market Forecast & Opportunities, 2020”, the market for Li-ion batteries market in India is projected to witness vigorous double digit growth at over 35% CAGR during the next five years. Government’s efforts to minimize carbon emissions and toxicity level in the environment is likely to drive the adoption of Li-ion batteries across major end-use industries including consumer electronics and automotive. In addition, the government has announced tax exemption on electric vehicles powered by Li-ion batteries, which is anticipated to drive the market over the next five years. Owing to their compactness, lightweight and high durability, Li-ion batteries are expected to witness wider adoption in telecom & data communication applications as well as energy storage systems. Major players engaged in developing Li-ion batteries in India include Samsung SDI Company Limited, Sony and AMCO. “India Lithium-ion Batteries Market Forecast & Opportunities, 2020” report elaborates following aspects:
• India Li-ion Batteries Market Size, Share & Forecast
• Segmental Analysis - Lithium Cobalt Oxide Battery, Lithium Manganese Oxide Battery, Lithium Iron Phosphate Battery, etc.
• Application Analysis – Consumer Electronics, Industrial and Automotive Li-ion Batteries
• Policy & Regulatory Landscape
• Changing Market Trends & Emerging Opportunities
• Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
• To gain an in-depth understanding of lithium-ion batteries market in India
• To identify the on-going trends and anticipated growth in the coming years
• To help industry consultants, hardware equipment manufacturers, vendors and dealers to align their market-centric strategies
• To obtain research based business decision and add weight to presentations and marketing materials
• To gain competitive knowledge of leading players
• To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with lithium-ion battery suppliers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, and proprietary databases.