How India Lithium Ion Cell and Battery Market is Positioned?
The Indian battery market has been expanding due to growth in power sector, automotive sector and integration of battery in consumer electronics. The current production capacity in India of batteries stands at about ~ GWh in FY’2018. Automotive sector forms the major consumer base in the Indian battery market. The market has been experiencing a shift in consumer preferences. The preference has shifted from local batteries to branded batteries, both in the (original equipment manufacturer) OEM and replacement segment.
The lithium ion battery market in India is currently in its nascent stage. The market is completely import driven with either lithium ion cells or batteries being imported in India, and then sold or repacked and sold to the final consumers. Over time, India started importing li-ion cells to assemble battery packs in the country. However, even today, the manufacturing of lithium ion cells has not started in the country but is soon expected to begin production. The lithium ion battery market in India has grown from USD ~ million in FY’2014 to USD ~ million in FY’2018. It has registered a CAGR of ~ % during the period FY’ 2014 – FY’ 2018.
By Type Of Battery
Lithium Iron Phosphate (LFP)
The Lithium Iron Phosphate contributes the most to the Overall Lithium Ion Cell and Battery Market in India. It is used in telecom, laptops, digital cameras and wearable products. It offers long cycle life and has a good safe record but exhibits higher self-discharge.
Lithium Nickel Manganese Cobalt (Li-NMC
The Lithium Nickel Manganese Cobalt contributes a fair share to the Overall Lithium Ion Cell and Battery Market in India. It is used for power tools, medical instruments, electric power trains, electric vehicles and other industrial applications. It is capable of high charge and discharge currents but has low specific energy and modest service life.
Lithium Cobalt Oxide (LCO)
Lithium Cobalt Oxide batteries are mainly used in cell phones, laptops, digital cameras and wearable products. Most companies producing portable electronics prefer using LCO based cells. Lithium Cobalt Oxide batteries has high specific energy with moderate load capabilities and modest service life.
Lithium Nickel Cobalt Aluminum Oxide (NCA)
Lithium Nickel Cobalt Aluminum Oxide batteries contribute the least to the Overall Lithium Ion Cell and Battery Market in India. It is used in medical devices, industrial applications, electric power trains and others. Currently, the lithium ion batteries based on NCA are not so widely used in India, but are gaining significant popularity and expected to gain a considerable market share in the future.
By Area Of Application
Consumer Appliances
Consumer appliances in India accounts for the largest share in the application of lithium ion batteries in India Laptops and tablets, mobile phones, power banks, drone, small household use power tools and UPS are the major segments using li-ion batteries in India.
Telecom Towers and Services
The demand for lithium ion batteries in India majorly comes from Telecom towers. The lithium-ion batteries have more than double the life of traditional lead-acid batteries.
Industrial Application
Application Li-ion batteries are now being used instead of conventional batteries in larger industrial application including UPS and energy storage systems. The shift to lithium ion batteries is due to the technological capabilities and also because of their customizable property where in the number of cells in the battery can be adjusted based on the energy requirement.
Automotive Application
Application volume of lithium ion batteries in the automotive sector accounted for the least to the overall Lithium Ion Cell and Battery Market. Automotive sector is the sector with the highest potential to grow and outweigh all other sectors in terms of lithium ion battery usage.
By Power Capacity
0-3,000 mAh
In FY’ 2018, the power capacity of 0-3,000 mAh has a market share of ~ %. Batteries of 0-3000 mAh are usually used in mobile phones, power tools and laptops. In India, mobile phones with greater battery life have been gaining popularity and as a result the market is shifting to batteries with higher power capacity.
3,000-10,000 mAh
In FY’ 2018, the power capacity of 3,000-10,000 mAh has a market share of ~ %. Batteries of 3000-10,000 mAh are usually used in power banks, laptops, and mobile phones. In India, people largely prefer mobiles phones with higher battery capacity as their battery last more and even on low charge also one can use the mobile phone for a longer period. Therefore, increasing demand in the higher battery capacity in the mobile phones is positively driving the market for lithium ion battery with the capacity range 3,000 – 10,000mAh market in India.
10,000-60,000 mAh
In FY’ 2018, the power capacity of 10,000-60,000 mAh has a market share of ~ %. Batteries of 10,000-60,000 mAh power capacity are usually used in power banks, tech toy cars and electric bikes.
More than 60,000 mAh
In FY’ 2018, the power capacity of 10,000-60,000 mAh has a market share of ~ %. Over the years, the use of batteries with power capacities has been rising. This is due to increase in the demand from the electric vehicle segment. Batteries with more than 60,000 mAh power capacity are usually used in electric vehicles, UPS and tools with higher energy requirements.
Competitive Landscape of India Lithium Ion Cell And Battery Market
The Lithium ion battery market in India is in its nascent stage. 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. Companies compete on the basis of configuration of battery packs, their durability, quality, recharge cycle and application. The big players in the industry target the end users directly usually avoiding mediators such as such dealers, while other small businesses and pack assembly units deal with distributors and dealers.
India Lithium Ion Cell And Battery Market Outlook and Projections to FY’ 2023
The Lithium ion battery market size is expected to grow from ~ GWh in FY’2018 to ~ GWh in FY’2023 in terms of total sales volume of lithium ion batteries. During this period, the market will grow at a CAGR of ~ %.
In the Indian market use of lithium ion batteries in medical devices is expected to increase in the future majorly due to the development of lithium ion batteries taking place for both implantable and non implantable medical devices. Devices such as ventilators, infusion pumps, dialysis systems and anesthesia machines will be the major user of lithium ion battery backups. With government actively developing plans and taking actions to bring in sale of all electric vehicles by 2030, the market for lithium ion batteries is expected to grow.
The contributors for growth in the market will be increased use of lithium ion battery in electric vehicles. This is due to rise in public awareness to reduce carbon emissions in the country. The use of lithium ion batteries will not only rise in India for application in automotive sector, but will rise in the entire world.
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