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India Lithium-ion Battery Manufacturing Market Projections Point Towards Historic Revenue Expansion

India Lithium-ion Battery Manufacturing Market Projections Point Towards Historic Revenue Expansion

According to the most recent report from Report Ocean, titled “India Lithium-ion Battery Manufacturing Market” insights and assessments are derived from authentic consultations with key stakeholders such as CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This study serves as a comprehensive guide for conducting a thorough examination of the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The “India Lithium-ion Battery Manufacturing Market” report provides a quantitative analysis of the relevant industry, utilizing data-driven research to identify pertinent patterns from public records. Furthermore, it offers predictions for the market sector’s growth within the specified period (2024-2032). To delineate, characterize, and analyze sales volume, rates, competitive aspects, market share, and development strategies for the years up to 2032, the research focuses on major global market manufacturers.

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Global India Lithium-ion Battery Manufacturing Market Analysis and Growth Forecast:

The rapid penetration of electric vehicles in India is expected to drive the need for Lithium (Li)-ion battery manufacturing in the country. Li-ion batteries act as the primary storage option for electro-chemical energy. These batteries are rechargeable and contain Li-ion as the key component of electrolyte.

Market insights

The manufacturing of Li-ion batteries is dependent on the sourcing and mining of lithium, and other minerals like cobalt, aluminium and copper. The overall process of Li-ion battery manufacturing encompasses the production of cell components (electrode, electrolytes and separators), cell and module production, battery pack assembly, and integration of components. The major applications of Li-ion battery include electric vehicles (EV), EV charging and swapping stations, and grid services.

Market opportunity insights

The Li-ion battery manufacturing industry in India is at a nascent stage at present. However, the country holds the potential to emerge as the key manufacturer of Li-ion batteries over the next few years. India can proceed to develop the Li-ion battery manufacturing industry through three distinct stages: stage one (2017 to 2020), stage two (2021 to 2025), and stage three (2026 to 2030). In stage one, during the 2017-2020 period, the primary focus is to create an ambient manufacturing environment in the country. The Li-ion battery manufacturing industry is anticipated to capture an economic value of around INR 1,300 Bn to INR 1,400 Bn, during stage one.

In stage two (2021 to 2025), India is predicted to capture around 25%-40% of overall economic opportunity for Li-ion battery manufacturing. The industry is expected strengthen its supply chain network and make sizeable investments on research and development by 2025. During this phase, India is anticipated to be involved in the manufacturing of battery packs, along with limited production of battery cells.

India is expected to enter stage three during the 2026-2030 period. In stage three, manufacturers are projected to be engaged in end-to-end manufacture of Li-ion batteries. As a result, the dependency on imports is likely to be reduced significantly at this stage. This phase is projected to be of utmost importance for the country to establish its independence in the electric mobility sector by engaging in the production of both EV and EV batteries at the domestic level.

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Market influencers:

The major driving factor propelling the growth of Li-ion battery manufacturing industry in India is the government’s plan to boost electric mobility. The Indian government has envisioned the conversion of two and three wheelers into 100% electric ones by 2030. Currently, India is dependent on other countries for sourcing EV batteries, which has resulted in the hiked price of EVs. The penetration of EVs in the Indian automotive sector is expected to bolster the need for indigenous manufacturing of Li-ion batteries, to make them economically viable.

Sizeable investments from foreign and domestic players have been playing a major role in boosting the Li-ion battery manufacturing market in India. Supportive financial policies like land grant, reduction in number of permits, tax reduction in foreign investments and direct government subsidies have encouraged the influx of investments. Suzuki Motor Corporation, Toshiba Corporation and Denso Corporation have invested INR 37.15 Bn and INR 12.14 Bn in two phases to build Li-ion battery assembly lines in Gujarat.

A significant impediment to the growth of the market is that the country is reliant on the import of raw materials owing to its lack of mineral reserves. India is dependent on countries like China, Chile, Bolivia, Argentina and Australia to meet the demand for lithium. Furthermore, other crucial raw materials like cobalt, nickel, manganese and graphite are also sourced from various foreign countries. On the other hand, the ecosystem consists of numerous stakeholders and the weak coordination among them restrains the development of a robust supply chain network in the industry.

Companies covered

Adani Group
Amara Raja Batteries Limited
Bharat Heavy Electricals Limited (BHEL)
Exide Industries Limited
HBL Power Systems Ltd
Tata Chemicals Limited
Automotive Electronics Power Pvt. Ltd
Mahindra Electric Mobility Ltd
Panasonic India
Toshiba India Pvt. Ltd

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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