The Li-ion batteries are more environmental friendly in comparison to traditional lead-acid, nickel-cadmium and nickel metal hydride batteries, due to their low emission levels, toxicity, and characteristic of rechargeability. In India, Lithium ion batteries are being imported from countries such as China, Taiwan and Korea due to lack of Li-ion battery manufacturing units in the country. Li-ion batteries are majorly used in consumer electronics such as mobile phones, tablet PCs and notebook PCs, etc., due to their compactness, light weight and high durability. These batteries are also used in industrial applications such as medical devices (like surgical devices and respirators), telecom & data communications, energy storage systems, etc. With continuing technological developments, Li-ion batteries are also being used in automobile industry, particularly in electric vehicles.
According to “India Li-ion Batteries Market Forecast & Opportunities, 2018”
, the Li-ion batteries market in India is projected to grow at a CAGR of around 24% during 2013-18. The demand for Li-ion batteries is expected to increase significantly in automotive segment due to increasing government emphasis towards reducing emissions from ICE (Internal Combustion Engine) by switching to electric vehicles. This is further supported by tax exemption for Li-ion batteries used in electric vehicles. Major global players such as LG Chem, Panasonic and IBM are increasing their focus on R&D in order to decrease the manufacturing cost of Li-ion batteries by introducing new high energy density batteries like Lithium air batteries. “India Li-ion Batteries Market Forecast & Opportunities, 2018”
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Why You Should Buy This Report?
- India Li-ion Batteries Market Size, Share & Forecast
- Segment Analysis – Consumer Electronics, Industrial and Automotive Li-ion Batteries
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- Strategic Recommendations & Competitive Landscape
- To gain an in-depth understanding of li-ion batteries market in India
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The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with li-ion battery suppliers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, and proprietary databases. Analyst access from TechSci Research
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