Samsung SDI to Continue Dominating India Lithium-Ion Battery Market through 2023
Growing demand for lithium-ion
batteries across industrial and automotive segment coupled with increasing
penetration of electric vehicles to fuel India lithium-ion battery market through
2023
According to a recently
published TechSci Research report “India Lithium-ion Battery Market
By Type, By Application, By Battery Capacity, Competition Forecast &
Opportunities, 2013-2023’’, India lithium-ion
battery market is
projected to grow at a CAGR of over 22%, majorly on account of growing industrial
and automobile sectors, and rising
penetration of electric vehicles. Additionally, rising number of solar energy projects and expansion
of telecom industry is further boosting the use of lithium-ion batteries. In
2017, Samsung SDI Co. Ltd accounted
for the largest share in India lithium-ion battery market, followed by Panasonic
India Pvt. Ltd. and LG
Polymers India Pvt Ltd.
Browse 44 market data Figures and Tables spread through 88 Pages and an in-depth TOC on "India
Lithium-ion Battery Market" https://www.techsciresearch.com/report/india-lithium-ion-battery-market/1250.html
Industrial sector had the largest application share in India lithium-ion
battery market in 2017 and the sector is likely to maintain its
dominance throughout the forecast period as well. Among types, lithium
cobalt oxide type of lithium-ion batteries accounted
for the major revenue share in the market in 2017 and the segment is likely to
maintain its leading position throughout forecast period as well. As per the
regional analysis of India lithium-ion battery market, South
region accounted for the highest market share in 2017, and the trend is
expected to continue till 2023.
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“By 2020, National Electric Mobility
Mission Plan in India targets seven million electric and hybrid vehicles on
Indian roads, which is expected to significantly push demand for lithium-ion batteries
across the country. Furthermore, technological developments for the use of intelligent
and advanced lithium-ion batteries
in energy deficit regions of India is likely to provide better energy storage
solutions in the country, thereby positively
influencing the lithium-ion battery market in the country in the coming years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India Lithium-ion Battery Market By Type, By Application, By Battery Capacity, Competition
Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of India lithium-ion
battery market and provides
statistics and information on market size, structure and future market growth.
The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India lithium-ion battery market.
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