Press Release

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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