India Lithium-ion Battery Market is Expected to Register a 9.17% CAGR Through 2031
Rapid Growth of Electric Vehicles (EVs) in India and Expansion
of Renewable Energy Storage Solutions are likely to propel the market during
the forecast period.
According to
TechSci Research report, “India Lithium-ion Battery Market – By Region,
Competition, Forecast and Opportunities, 2021-2031F”, India Lithium-ion Battery Market was valued at
USD 375 Million in 2025 and is expected to reach USD 640 Million by 2031 with a
CAGR of 9.17% during the forecast period.
India’s government has taken strategic
steps to support the development of the lithium-ion battery market by
encouraging local manufacturing and reducing reliance on imports. Given that a
majority of lithium-ion battery components and cells are currently imported,
primarily from China, there is a growing emphasis on building a self-reliant
battery supply chain within the country.
Initiatives such as the
Production-Linked Incentive (PLI) scheme for advanced battery manufacturing
provide financial incentives to companies investing in battery plants and
technology development. These incentives aim to attract domestic and foreign
investments, promote technology transfer, and develop indigenous manufacturing
capabilities.
Furthermore, policies facilitating the
setup of battery gigafactories, promoting research in battery chemistry,
recycling, and second-life applications are helping create an ecosystem
favorable for lithium-ion battery growth. The government is also investing in
raw material exploration and processing facilities to secure the supply chain
of critical minerals like lithium, cobalt, and nickel.
The push towards “Atmanirbhar Bharat”
(self-reliant India) aligns with global trends to diversify supply chains and
avoid vulnerabilities exposed during disruptions like the COVID-19 pandemic.
Developing a robust domestic lithium-ion battery manufacturing base is seen as
crucial for energy security, economic growth, and job creation.
Browse over XX Market
data Figures spread through XX Pages and an in-depth TOC on " India Lithium-ion Battery Market.”
Based
on Vertical, Consumer electronics dominated the India lithium-ion battery market
primarily because these devices rely heavily on compact, efficient, and
rechargeable power sources to meet the demands of today’s mobile and connected
lifestyle. Lithium-ion batteries are ideally suited for consumer electronics
such as smartphones, laptops, tablets, wearable devices, and other portable
gadgets due to their high energy density, lightweight nature, and ability to
retain charge over numerous cycles without significant capacity loss.
India’s
rapidly expanding middle class, increasing disposable incomes, and rising
digital penetration have collectively fueled a surge in demand for consumer
electronics. Smartphones, in particular, have become nearly ubiquitous across
urban and semi-urban India, driving substantial consumption of lithium-ion
batteries. The proliferation of affordable devices and the push toward
digitization and remote work have further accelerated this growth.
Consumer
expectations for longer battery life and faster charging capabilities have
compelled manufacturers to consistently adopt and improve lithium-ion
technology. Its superior rechargeability and performance over older battery
types make lithium-ion the standard choice for powering modern gadgets.
The
rise of new categories such as wireless earbuds, smartwatches, fitness
trackers, and portable gaming devices has further diversified battery demand
within consumer electronics, all of which depend on compact and reliable
lithium-ion cells. In addition, government initiatives encouraging domestic
electronics manufacturing under schemes like “Make in India” have boosted local
demand for lithium-ion batteries. Indian electronics manufacturers benefit from
the availability of lithium-ion technology, which enables competitive product
offerings both domestically and internationally.
Based
on Region, North India is emerging as the fastest-growing region in the
lithium-ion battery market due to a combination of strategic geographic,
economic, and policy factors. One key driver is the region’s rapid
industrialization and urbanization, which fuels strong demand for electric
vehicles (EVs), renewable energy storage, and consumer electronics—all major
end-users of lithium-ion batteries.
Several
northern states, including Uttar Pradesh, Haryana, Punjab, and Delhi, have
actively embraced government initiatives promoting electric mobility under
schemes like FAME-II (Faster Adoption and Manufacturing of Hybrid and Electric
Vehicles) and state-specific EV policies. These policies offer incentives,
subsidies, and infrastructure support such as charging networks, which
accelerate EV adoption and consequently boost lithium-ion battery demand.
North
India also benefits from better-developed infrastructure compared to many other
regions. The presence of major industrial hubs, transportation networks, and
proximity to raw material supply routes facilitates efficient manufacturing and
logistics operations. This makes it attractive for battery manufacturers to set
up gigafactories and assembly units in the region, further driving local demand
and production capacity.
Rising
environmental awareness and stricter pollution control norms in northern
metropolitan areas like Delhi and Chandigarh have increased the push toward
cleaner energy and transportation solutions. This societal and regulatory
pressure encourages consumers and businesses to switch to electric vehicles and
renewable energy systems that rely on lithium-ion batteries. Additionally, the
region’s large population base and growing middle class expand the market for
consumer electronics powered by lithium-ion batteries, further fueling growth.
Major companies
operating in the India Lithium-ion Battery Market are:
- Contemporary
Amperex Technology Co. Limited (CATL)
- LG Energy
Solution Ltd.
- Panasonic
Holdings Corporation
- BYD Company
Limited
- Samsung SDI Co.
Ltd.
- SK On Co. Ltd.
- Toshiba
Corporation
- A123
Systems LLC
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“The India lithium-ion battery market
presents a substantial growth opportunity driven by the rapid expansion of electric
vehicles, increasing renewable energy integration, and rising consumer
electronics demand. Government initiatives promoting local manufacturing,
infrastructure development, and sustainability further enhance market
potential. With a growing emphasis on energy storage solutions and
self-reliance under the "Make in India" framework, investments in
battery production, technology innovation, and recycling are expected to
accelerate. This evolving ecosystem positions India as a promising hub for
lithium-ion battery manufacturing and adoption, catering to both domestic needs
and export markets, thereby unlocking significant economic and environmental
benefits.” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based global management consulting firm.
“India Lithium-ion
Battery Market, By Type (Lithium Cobalt Oxide, Lithium Iron
Phosphate, Lithium Nickel Cobalt Aluminum Oxide, Lithium Manganese Oxide,
Lithium Titanate, Lithium Nickel Manganese Cobalt), By Capacity (0-3,000 mAh, 3,000-10,000
mAh, 10,000-60,000 mAh, 60,000 mAh & Above), By Vertical (Consumer
Electronics, Automotive, Aerospace, Marine, Medical, Industrial, Power,
Telecommunications, Others) By Region, Competition, Forecast &
Opportunities, 2021-2031F”,
has evaluated the future growth potential of India Lithium-ion Battery Market and
provides statistics & information on Market size, structure and future Market
growth. The report intends to provide cutting-edge Market intelligence and help
decision-makers make sound investment decisions., The report also identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the India Lithium-ion Battery Market.
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