India Lithium-ion Battery Market Size & Outlook, 2023-2030
India lithium-ion battery market, 2018-2030 (US$M)
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India lithium-ion battery market highlights
- The India lithium-ion battery market generated a revenue of USD 12.7 million in 2023 and is expected to reach USD 87.8 million by 2030.
- The India market is expected to grow at a CAGR of 31.8% from 2024 to 2030.
- In terms of segment, lithium nickel manganese cobalt (nmc) was the largest revenue generating product in 2023.
- Lithium Titanate (LTO) is the most lucrative product segment registering the fastest growth during the forecast period.
Lithium-ion battery market data book summary
| Market revenue in 2023 | USD 12.7 million |
| Market revenue in 2030 | USD 87.8 million |
| Growth rate | 31.8% (CAGR from 2023 to 2030) |
| Largest segment | Lithium nickel manganese cobalt (nmc) |
| Fastest growing segment | Lithium Titanate (LTO) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LiFePO4), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate (LTO), Lithium Nickel Manganese Cobalt (NMC) |
| Key market players worldwide | BYD Co Ltd ADR, Hitachi Ltd, Johnson Controls International PLC, LG Chem, Panasonic Holdings Corp, Samsung SDI Co Ltd GDR - 144A, Toshiba Tec Corp ADR, GS Yuasa Corp |
Other key industry trends
- In terms of revenue, India accounted for 2.7% of the global lithium-ion battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China lithium-ion battery market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 87.8 million by 2030.
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Lithium-ion Battery Market Scope
Lithium-ion Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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India lithium-ion battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lithium-ion battery market will help companies and investors design strategic landscapes.
Lithium nickel manganese cobalt (nmc) was the largest segment with a revenue share of 29.92% in 2023. Horizon Databook has segmented the India lithium-ion battery market based on lithium cobalt oxide (lco), lithium iron phosphate (lifepo4), lithium nickel cobalt aluminum oxide (nca), lithium manganese oxide (lmo), lithium titanate (lto), lithium nickel manganese cobalt (nmc) covering the revenue growth of each sub-segment from 2018 to 2030.
The Government of India has made considerable efforts to fuel the growth of renewable energy market in the country. For instance, it has set a target to carry out 175 GW renewable power projects in India by 2022.
Moreover, the government of the country also emphasizes the conduct of battery energy storage projects, along with the carrying out of solar and wind power projects, to ensure a round-the-clock supply of power in India.
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Horizon Databook provides a detailed overview of country-level data and insights on the India lithium-ion battery market , including forecasts for subscribers. This country databook contains high-level insights into India lithium-ion battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India lithium-ion battery market size, by product, 2018-2030 (US$M)
India Lithium-ion Battery Market Outlook Share, 2023 & 2030 (US$M)
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