India's Lithium-Ion Battery Market Set for Robust Expansion
The India lithium-ion battery market is experiencing significant growth, driven by the increasing adoption of electric vehicles (EVs), renewable energy integration, and rising demand for consumer electronics. Valued at approximately USD 2.54 billion in 2023, the market is projected to reach around USD 6.92 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 15.4% during the forecast period.
Competitive Landscape
The market features a mix of domestic and international players striving for market share. Key companies include TDS Lithium-Ion Battery Gujarat Private Limited (TDSG), Bharat Electronics Limited (BEL), Telemax India Industries Pvt. Ltd., Toshiba Corporation, and Okaya Power Group. These companies are focusing on technological advancements, strategic partnerships, and capacity expansions to strengthen their positions in the burgeoning market.
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Regional Demand Highlights
North India currently dominates the lithium-ion battery market, attributed to its advanced manufacturing infrastructure, proximity to key raw materials, and a robust presence of EV and renewable energy sectors.
Vietnam's lithium-ion battery market is expanding rapidly, driven by its emerging electric vehicle industry. VinFast, the country's leading EV manufacturer, has secured multiple agreements with global battery suppliers to ensure long-term supply of lithium-ion batteries, positioning Vietnam as a significant player in the regional battery market.Thailand is positioning itself as a hub for electric vehicles, with local producers forming partnerships with global battery suppliers to enhance the EV battery ecosystem. Notably, Energy Absolute acquired Bangchak Corporation's battery division, aiming to scale up production and meet the increasing demand for lithium-ion batteries in the automotive sector.
By Type
Lithium Nickel Manganese Cobalt
Lithium Iron Phosphate
Lithium Cobalt Oxide
Lithium Titanate Oxide
Lithium Manganese Oxide
Lithium Nickel Cobalt Aluminum Oxide
By Material
Cathode material
Anode material
Electrolyte material
Separator material
Current collector material
Others
By Capacity
Below 3,000 mAh
3,001 – 10,000 mAh
10,001 – 60,000 mAh
Above 60,000 mAh
By Application
Consumer Electronics
Automotive
Energy Shortage (Power)
Industrial Applications (Aerospace, Marine, Medical, Telecommunications, Others)
1. Battrixx ( Bengaluru, Karnataka, India)
2. Contemporary Amperex Technology Co., Ltd. (CATL) ( Bengaluru, Karnataka, India)
3. Exicom Tele(Systems Limited ( New Delhi, India)
4. Grinntech Motors & Services Pvt. Ltd.( Chennai, Tamil Nadu, India)
5. Guoxuan High (Gotion High Tech Co. Ltd.) ( Bengaluru, Karnataka, India)
6. LG Energy Solution Ltd. ( Pune, Maharashtra, India)
7. Panasonic Life Solutions India Pvt. Ltd. ( Mumbai, Maharashtra, India)
8. Samsung SDI Co., Ltd. ( Bengaluru, Karnataka, India)
9. Toshiba Corporation (Toshiba India Pvt. Ltd.) ( New Delhi, India)
10. Trontek Electronics Pvt. Ltd. ( Pune, Maharashtra, India)
11. Coslight India Telecom Pvt. Ltd. ( Noida, Uttar Pradesh, India)
12. Cygni Energy Private Limited ( Hyderabad, Telangana, India)
13. Euclion Energy Private Limited ( Bengaluru, Karnataka, India)
14. Future Hi(Tech Batteries ( Surat, Gujarat, India)
15. Greenfuel Energy Solutions ( Bengaluru, Karnataka, India)
16. Log9 Materials Scientific Pvt Ltd. ( Bengaluru, Karnataka, India)
17. Loom Solar Pvt. Ltd. ( Faridabad, Haryana, India)
18. Okaya Power Pvt. Ltd. ( New Delhi, India)
19. Waaree ESS ( Mumbai, Maharashtra, India)
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