“Government Initiatives to promote sales of Electric Vehicles by 2030 is driving the Lithium Ion Cell and Battery Market in India.”
Transfer of Li-Ion Cell Technology by ISRO: Vikram Sarabhai Space Centre, a part of Indian Space Research Organization (ISRO) will be transferring their technical know-how of manufacturing li-ion cells on a non-exclusive basis. The technology that will be provided by ISRO can be applied to a wide range of power storage devices including electronic gadgets, tele-communications, industrial applications, aerospace, marine and others. This will facilitate an easy transition to companies from being mere distributors and battery pack assemblers to lithium ion battery manufacturers.
Growth of Energy Storage Systems: Increased use of energy storage devices such as emergency power backups or UPS has resulted in increased demand for lithium ion batteries in India. Devices run on solar energy have been making a mark in India, and the property of fast and easy charging of lithium batteries, makes them apt for solar power storage. There is a potential of increased deployment of lithium ion batteries in energy storage systems, thus facilitating the growth of the li-ion battery market.
Increasing Government Support: The tax rate on lithium ion batteries in India has been reduced from 28.0% to 18.0% in order to boost the manufacturing of batteries. The government has come up with Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles in India (FAME and FAME II) program.
The report titled, “India Lithium Ion Cell and Battery Market Outlook to 2023 – by Battery Type (LFP, NMC, LCO, MCA and Others), By Application (Consumer Appliances, Telecom Towers and Services, Industrial Application, Automotive and Others) and By Power Capacity”, by Ken Research believe that the increase in Electric Vehicles and Energy storage systems will drive growth in India Lithium Ion Cell and Battery Market in the future.
The India Lithium ion cell and battery market scenario depends on the political stability in the country. If Indian population repeats the current government, then the EV segment will grow on a rapid scale, and will become the largest user of lithium ion batteries. In such case the lithium ion cell and battery market can become a multibillion dollar affair. The only disadvantage that India faces right now is because of the geographical location as India does not have a ready availability of lithium ion ore, and hence has to be imported from Chile, China and many other countries. This results in loss in revenue in terms of foreign exchange. The promotion of electric vehicles is a great initiative to curb the carbon emission and encourage the green environment in India. Production of lithium ion cells will begin by 2020, as firms have established joint ventures and collaborations to begin production in the country. This will result in reduction in costs of acquiring lithium ion cells and batteries.
Key Segments Covered:-
Market Segmentation:-
Type of Battery (LFP, NMC, LCO, NCA and Others)
Area of Application (Consumer, Telecom Services, Industrial Application, Automotive and Others)
Power Capacity (0-3,000mAh, 3,000-10,000mAh, 10,000-60,000mAh, 60,000 mAh and above)
Key Target Audience:-
Distributors of Batteries
Telecom Companies
Manufacturers of Electric Vehicles
Importers of Batteries
Governmental Departments
Time Period Captured in the Report:-
Historical Period – FY’2014 – FY’2018
Forecast Period – FY’2019 – FY’2023
Companies Covered:-
Exicom Power Solutions
Coslight India Telecom Private Limited
Future Hi Tech Batteries
Panasonic India Private Limited
Delta Power Solutions India Private Limited
ACME Cleantech Solutions Limited
Keywords:-
India Lithium Ion Battery Market
India Lithium Ion Battery Industry
Lithium Ion Battery Market In India
Lithium Ion Battery Industry In India
India Lithium Ion Battery Sales
India Lithium Ion Battery Revenue
India Lithium Ion Cells Sales
Import Volume Lithium Ion Cells
Challenges Lithium Ion Battery India
Indian Laws Lithium Battery
Lithium Ion Production in India
Power Capacity Battery India
Lithium Ion Battery Turnover India
For more information on the research report, refer to below link:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
