New Delhi, Feb. 14, 2024 (GLOBE NEWSWIRE) — India lithium-ion battery market generated a income of US$ 5,116.4 Million in 2023 and is estimated to succeed in US$ 30,860.6 million by 2032 at a CAGR of twenty-two.1% through the forecast interval 2024–2032.

The Indian lithium-ion battery market is the profitable place to speculate and manufacture. It’s set to develop like loopy over the course of a decade. Demand for sustainable and renewable vitality options is skyrocketing around the globe. So, it’s no shock that India goes all-in on this sector. By 2030, they their capability will probably be at an unimaginable 220 GWh, up from a meager 20 GWh in 2022. This represents a CAGR of fifty%, says India Brand Equity Foundation. At its core, this opportunity comes from India’s give attention to constructing out its battery manufacturing ecosystem. From the final 2-3 years, the nation us attempting to cut back dependence on imports by growing whole manufacturing capabilities throughout the availability chain. From cell manufacturing to graphite anodes and electrolytes, they’re aiming for full independence.

The Indian authorities has already proven their help for the business by way of initiatives just like the Production Linked Incentive (PLI). It needs to construct up native manufacturing capability of 55 GWh for ACCs — with monetary incentives connected to hurry issues alongside. The FAME-II schemes and up to date budgetary measures additionally make it clear the federal government backs electrical automobiles. In line with this, by 2030, India will want a great deal of uncooked supplies for batteries as nicely: cathode lively supplies, aluminum, copper, LiPF6 electrolyte materials amongst them.

Key Findings in India Lithium-Ion Battery Market

India to Offer Golden Opportunity to Lithium-Ion Battery Manufacturers

The availability of key uncooked supplies akin to lithium, nickel, cobalt and manganese for producing lively cathode supplies in lithium-ion (Li-ion) batteries is proscribed in lithium-ion battery market. By 2030, India’s Li-ion cell manufacturing business will want round 193,000 tons of cathode lively materials, 98,000 tons of anode lively materials, 91,000 tons of aluminum, 41,000 tons of copper and eight,000 tons of LiPF6 electrolyte materials to make batteries with a complete capability of 100 GWh.

Given the current state of provide chain infrastructure — largely underdeveloped — and restricted deployment experience, it’s essential that India assert stronger management over the Li-ion battery provide chain to make sure self-reliance and safety.
Energy storage techniques play a vital function within the world effort to chop carbon emissions and demand for them will explode within the coming years. As a outcome, the Indian authorities is trying to ramp up manufacturing capabilities by aggressive progress methods not simply to satisfy home wants but additionally as a result of being a pacesetter in manufacturing is important. Securing minerals at aggressive costs is essential to sustaining and strengthening place within the world India lithium-ion battery market.

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To help this progress, the nation has additionally made some modifications in international coverage on strategic engagements in essential areas. Intensive R&D (analysis and growth), streamlining processes and emphasis on recycling initiatives are additionally being deployed to cut back dependence on imported elements for battery cells. Educational establishments additionally have to develop and introduce new packages, programs and curricula geared toward equipping the workforce with vital skillsets to thrive inside this burgeoning sector. This will probably be very important as demand skyrockets for expert professionals working in Li-ion battery manufacturing industries.

More than 43% Revenue of India Lithium-Ion Battery Market to Come from Electronics OEM’s

India’s lithium-ion battery market is poised to develop at a CAGR of twenty-two.1% throughout 2024-2032, with nearly all of this demand coming from the electronics OEM sector, in accordance with Astute Analytica. Over 43% of income on this market will probably be derived from electronics OEMs – demonstrating simply how essential client tech is in driving demand for lithium-ion batteries. Some key statistics underline the rising symbiotic relationship between India’s burgeoning electronics business and its lithium-ion battery sector:

• Electronics Sales Surge: The nation’s client electronics market is anticipated to develop at a CAGR of 17% throughout 2024-2032, thus immediately influencing demand for lithium-ion batteries.
• Smartphone Penetration: With greater than 1.14 billion mobile-phone subscribers, smartphone penetration in India is anticipated to succeed in round 65% by 2025, up from the present 38%, necessitating greater output of lithium-ion batteries for energy provide.
• Laptop and Tablet Growth: Demand for laptops and tablets in India lithium-ion battery market has been recorded as seeing year-on-year progress of roughly 25%, additional fueling want for environment friendly battery options akin to these provided by Lithium-Ion Batteries.
• Electric Vehicle (EV) Push: In its push in the direction of electrical automobile adoption and EV-related infrastructure growth with a goal of attaining 30% EV penetration by 2030, Government of India expects its home manufacturing capability for top effectivity storage techniques just like the Lithium-Ion Batteries utilized in EVs to ramp up considerably; additionally noting that Electronics OEMs have a vital function to play in future Battery manufacturing & innovation in bid to help this nationwide ambition.
• Investment in Manufacturing: Investments into Lithium-Ion Battery manufacturing within the nation are anticipated to exceed $3 billion by 2024.
• Renewable Energy Integration: India goals to put in renewable vitality capability of 170 GW by 2025. As a part of this goal, there’s a excessive demand for environment friendly and sustainable storage options like Lithium-Ion Batteries which not directly advantages the electronics sector as producers search for extra environment friendly methods to energy digital gadgets.
• Battery Import Dependency: Currently India lithium-ion battery market imports over 85% of its Lithium-Ion Battery Requirements, nonetheless, with such sturdy numbers inside the client electronics area driving demand for these batteries; analysts are optimistic that it’s going to encourage home Electronics OEMs to enterprise into manufacturing of batteries used of their merchandise going ahead.
• Consumer Electronics Dominance: Consumer electronics presently account for round 60% of whole lithium-ion battery demand in India.
• R&D Investment: The Research & Development spend on lithium-ion expertise has been rising at an annual charge of roughly 15%, due to most being pushed by electronics firms trying to scale back dimension, improve life-cycle and develop safer battery options.

Market Players are Actively to Looking to Invest in India’s Lithium-Ion Battery Recycling

The Indian recyclers working within the lithium-ion battery market have been busy scaling up their capacities and addressing future demand for brand spanking new batteries. A mix of presidency initiatives, investments into new applied sciences and establishing new recycling services are all steps in the direction of making the battery recycling ecosystem extra sustainable and environment friendly in India. Attero Recycling, which is India’s largest electronics recycler, plans to speculate INR6bn ($72.4m) to arrange its second LIB recycling plant within the nation. The new plant will probably be based mostly in Telangana and assist improve Attero’s battery recycling capability to 19,500 tonnes each year (TPA) by the top of 2023 from 4,500 TPA presently. Attero goals to recycle 300,000 tonnes of lithium-ion batteries over the subsequent 5 years and in addition goals for world enlargement focusing on Europe, US and Indonesia​​.

India lithium-ion battery market presently has a throughput capability of 35ktpa when contemplating each black mass manufacturing and mineral extraction through hydrometallurgy/pyro-metallurgy. However, this must be scaled roughly 9 instances with a view to meet the potential for repurposing/recycling by 2030. Players lively on this area embody Lohum, Exigo Ziptrax, Attero Batx Tata Chemicals LICO SungEel Hitech amongst others who’re already increasing their respective capacities: Exigo is planning to develop capability as much as 200ktpa whereas Attero will improve its capability from 4ktpa to 19.5 ktpa with a plant in Telangana​​.

The authorities’s involvement on this sector is essential as it will possibly incentivize business to dispose responsibly or recycle merchandise correctly; insurance policies should promote industries to inculcate recycled supplies of their manufacturing course of and transfer in the direction of a round financial system strategy. One such initiative is the Extended Producer Responsibility (EPR) mechanism, which holds digital manufacturing firm producers accountable by giving them targets for assortment, disposal, and recycling of end-of-life merchandise by way of an EPR credit score mechanism​​.

Top Players in India-Lithium-Ion Battery Market

• ISRO
• Amara Raja Group
• HBL Power Systems Limited
• EON Electric Ltd.
• Exide Industries Ltd.
• Microtex Energy Pvt. Ltd.
• Mercom Capital Group, LLC
• Tata Chemicals
• Bharat Heavy Electricals Ltd.
• BYD Company
• LG Chem
• Panasonic Corporation
• Samsung SDI
• BAK Group
• Hitachi Corporation
• Johnson Controls
• Toshiba Corporation
• Other Prominent Players

Astute Analytica has segmented India Lithium-ion Battery Market report based mostly on Product Type, Power Capacity, Form/Design, and Application

By Product Type 

• Lithium Nickel Magnesium Cobalt (LI-NMC)
• Lithium Ferro Phosphate (LFP)
• Lithium Cobalt Oxide (LCO)
• Lithium Titanate Oxide (LTO)
• Lithium Manganese Oxide (LMO)
• Lithium Nickel Cobalt Aluminum Oxide (NCA)

By Power Capacity

• 0-3,000 mAH
• 3,000-10,000 mAH
• 10,000-60,000 mAH
• More than 60,000 mAH

By Form/Design

• Pouch
• Cylindrical
• Elliptical
• Prismatic
• Custom Design

By Application

• Consumer Electronics OEMs
  • Smartphones
  • Laptops
  • UPS Systems
  • Smart Cameras
  • Smart Watches
  • Smart Glasses
  • Smart Textiles
  • Others
• Automotive OEMs
  • Hybrid Electric Vehicles (HEVs)
  • Battery Electric Vehicles (BEVs)
  • Others (Service Stations/Dealers)
• Energy Storage
  • Commercial
  • Industrial
  • Residential
  • Utilities
• Industrial OEMs
  • Military
  • Industrial Equipment
  • Medical
  • Marine
  • Telecommunication
  • Mining
  • Forklifts
  • Others
• Other OEMs
• Aftermarket

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