Lithium-ion Battery Market – India
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 3.20 Billion
Market Size in 2033: USD 9.56 Billion
Market Growth Rate (CAGR) 2025-2033: 12.27%
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According to IMARC Group’s report titled “ India Lithium-ion Battery Market Report and Forecast 2025-2033,” the market reached USD 3.20 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 9.56 Billion by 2033, exhibiting a growth rate (CAGR) of 12.27% during 2025-2033.
India Lithium-ion Battery Market Trends and Drivers:
- Increasing EV Adoption: India’s growing electric vehicle ecosystem is among the largest demand drivers for lithium-ion batteries, with private industry investments and government policies fueling adoption.
- Policy Push: FAME II incentives and production-linked incentives (PLI) have boosted local manufacturing, making battery technologies more cost-effective and locally available.
- Energy Storage Integration: As capacities of renewable energy increase, lithium-ion batteries are increasingly being utilized for energy storage systems and grid stabilization, improving the reliability of power.
- Consumer Electronics Demand: Essentially, the intense penetration of tablets, smartphones, and laptops has continuously maintained the lithium-ion battery market afloat in the consumer market.
- Increase in Solar Installations: The coupling of battery storage with rooftop and off-grid solar installations, especially in remote locations, is creating new market opportunities.
- Localized Production Initiatives: Besides, homegrown players and overseas investors are establishing giga factories in India to lower dependency on imports and improve the value chain.
- Advances in Battery Chemistry: Technology advancements in battery design, energy density, and life cycle are driving the increasing efficiency and cost-effectiveness of lithium-ion solutions.
- Electrification of Public Transport: Additionally, efforts to electrify buses, three-wheelers, and last-mile delivery fleets are strongly driving large-format lithium-ion battery deployment.
- Startup Ecosystem: An active startup ecosystem engaged in battery innovation, recycling, and second-life applications is introducing agility and new product solutions to the market.
- Government Recycling Policies: Essentially, more stringent regulations regarding battery waste and circular economy programs are driving the building of battery recycling facilities.
- Greater R&D Investments: Furthermore, significant investments in research on solid-state batteries and lithium substitutes are projected to unleash the next generation of energy storage technologies.
- Cost Reduction & Scalability: Finally, maturity of global supply chains and economies of scale are leading to a cost reduction curve, which makes lithium-ion batteries more economical in all applications.
India Lithium-ion Battery Market Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India lithium-ion battery market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Analysis by Product Type:
- Lithium Cobalt Oxide
- Lithium Iron Phosphate
- Lithium Nickel Manganese Cobalt
- Lithium Manganese Oxide
- Others (Li-ion Nickel Cobalt Aluminium Oxide and Li-ion Titanate Oxide)
Analysis by Power Capacity:
- 0 to 3000mAh
- 3000mAh to 10000mAh
- 10000mAh to 60000mAh
- More than 60000mAh
Analysis by Application:
- Consumer Electronics
- Electric Vehicles
- Energy Storage
- Others
Regional Analysis:
- North India
- West and Central India
- South India
- East India
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendation
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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