India’s Electric Future: Soaring Battery Demand, Sustainable Solutions REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Surging Indian battery demand drives electrification for climate change. Manufacturers must adopt sustainability and collaboration for growth. Storyline Global Li-ion demand surges due to sustainability and EV adoption. Indian market faces challenges but holds strong growth potential. Industry players drive technological advancements and product expansion. As per Ken Research estimates, South India emerges as a key player in India’s lithium-ion battery market. Indian battery demand is surging to combat climate change via electrification & energy transition. Underestimated forecasts project the lithium-ion battery chain to surge from 2.3 GWh in FY2021 to 104 GWh in FY2030. Battery manufacturers including companies not yet in Li-ion battery market must adopt sustainable practices, collaborate, standardize processes, and enhance data transparency for them to stand out & generate value while protecting the environment. 1. Li-ion to be the next big thing? Also Read: Global battery Market trends Global Li-ion battery demand is projected to skyrocket in the next decade, reaching 4.7 TWh by 2030 globally, driven by the increasing need for sustainable solutions. The majority of this demand surge, around 4,300 GWh, is expected to generate from mobility applications, particularly electric vehicles (EVs). This demand is fueled by regulatory shifts towards sustainability, customer adoption of greener technologies, and OEM commitments to ban internal combustion engine (ICE) vehicles. Moreover, the India government has set a 30 percent electric car sales target by 2030. The Central Electricity Authority predicts that India will need 34 GW/136 GWh of battery storage to add 450 GW of renewable sources. This will speed up the country’s move to becoming a major user of lithium batteries. 2. But what about its cons? Also Read: Battery Market Dynamics All the trendy, sustainable stuff about Li-ions seems great but when it comes to personal usage, anyone would probably think about the need to recharge their vehicle’s battery every few hours. Sustainable much? Then comes the time taken to charge it which is something you’d probably skip but cannot because of the dire need of the situation. This is not only a roadblock on an individual level but can also prove to be a huge deterrent for the market growth in the long term. But what if you could remove your dead battery and swap it with a fully charged one? This is something that the Indian Government proposed in its 2021-22 annual budget by the name, ‘battery swapping,’ This technology significantly reduces the charging time while also decreasing the load on the electric grid. One of the success stories in the battery swapping space that can be emulated across India is that of Gogoro. A Taiwanese company that is changing the way EVs are viewed across SEA and have to date swapped over 300-Mn batteries. 3. That was global. What about the Indian scenario? Read more about the growth trends in Li-ion battery market The availability of raw materials and skilled labor is limited in India, which is acting as a major roadblock for the growth of the market in the country. Moreover, the presence of stringent environmental regulations and high import tariffs is also deterring the growth. Despite these challenges, the lithium-ion battery market in India is anticipated to witness strong growth in the near future. This can be attributed to a decent surge in demand for cost-effective and efficient energy storage solutions in the automotive, consumer electronics, and power industries. Furthermore, the government’s recent initiatives and policy reforms such as National Mission on Transformative Mobility and Battery Storage (2020) & FAME II and FAME India Scheme are expected to further boost the industry’s growth. 4. On which side is the growth trend tilting? Competitive Scenario in Li-ion battery market Leading manufacturers in the Indian lithium-ion battery market are making strides in advancing battery technologies. Inox Wind and Bhoruka Aluminum have collaborated to develop an innovative process for producing lithium-ion cells from LCO, aiming to lower manufacturing costs. In terms of regional growth, South India, including Andhra Pradesh, Telangana, and Karnataka, is emerging as a key player in India’s lithium-ion battery market. Andhra Pradesh has established the country’s first lithium cell manufacturing facility in Tirupati, attracting a substantial investment of 165 Cr Rupees. The facility aims to produce high-quality cells for EVs and energy storage systems, further solidifying South India’s prominence in the industry. 5. What do we predict? Future Trends in Global Li-ion Battery Industry We at Ken Research predict that India will emerge as a significant player in the global lithium-ion battery market. With the central and state governments implementing plans for a robust battery recycling system, the focus on environmental sustainability is gaining momentum. The increasing popularity of electric cars and the surging demand for electronic devices such as laptops and smartwatches are driving the growth of Lithium Cobalt Oxide (LCO) batteries in India. LCO batteries are projected to contribute over 35% of the revenue in India’s lithium-ion battery market, indicating their substantial market presence. 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