“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.
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:-
Related Reports:-
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
