1. Market Research
  2. > Energy & Environment
  3. > Energy
  4. > Electric Power
  5. > Energy Storage
  6. > Battery Market Trends
India Lithium-Ion Battery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

India Lithium-Ion Battery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • March 2021
  • 137 pages
  • ID: 6036750
  • Format: PDF
  • Mordor Intelligence LLP
Up to $650 off Until Jun 20th 2021


Table of Contents

Search Inside

The market for lithium-ion batteries in India is expected to grow at a CAGR of 12.47% during the forecast period. The market value of 2019 is USD 1.89 billion and the estimated market value for the year 2026 is USD 4.84 billion. The COVID-19 pandemic has impacted the lithium-ion industry due to disruption in the supply chain, as the country is largely dependent upon imports of batteries and the required materials such as lithium and cobalt. Factors such as the decline in lithium-ion battery prices along with the emergence of new and exciting markets, i.e., electric vehicle and energy storage systems (ESS), for both commercial and residential applications are expected to be the major drivers for the lithium-ion battery market in India. The lack of prominent reserves required for the manufacturing of lithium-ion batteries is expected to pose a challenge for local production and the market for lithium-ion batteries in the country.

- The Automotive segment is expected to have significant growth in the Indian lithium-ion battery market during the forecast period.
- The government of India has set an ambitious target of achieving 30% EV sales by 2030 across all modes. Hence, the process toward mass adoption of electric vehicles in the country is expected to create significant opportunities for India’s lithium-ion battery market in the future.
- India’s plans to boost national battery manufacturing are likely to drive the lithium-ion battery market in India.

Key Market Trends
Automotive Segment is Expected to Grow at a Faster Rate

- The automotive segment is expected to grow faster in the market during the forecast period owing to the increasing demand for electric vehicles (EV) and favorable government policies related to an EV. For instance, the Government of India Vision 2030, aims to achieve 100% electrification of public transport and 40% of personal mobility by 2030. In 2019, India’s electric car stock has reached 11,200 vehicles from 3,400 vehicles in 2014. Hence, showing a rapid growth rate over the mentioned years.
- To achieve the vision, the Government of India, In July 2019, announced income tax exemptions for prospective EV buyers and reduced goods and services tax (GST) on EVs from 12% to 5%. Hence, this turn is likely to attract more EV manufacturers in the coming years.
- Furthermore, In December 2020, Tata Chemicals has started work on its lithium-ion cell manufacturing project. The company, along with other manufacturers, was waiting for the government to come out with the PLI scheme since it was in the works for some time now. They are expected to seek incentives under the scheme just like some of the other manufacturers. This is expected to aid the growth of the market.
- On the demand side, in Feb 2021, Ather Energy has started the operation of its new two-wheeled electric vehicle and Li-ion battery manufacturing facility located at Hosur. Therefore, factors, such as upcoming Li-ion battery manufacturing plants majorly focused on electric vehicle applications are expected to boost the demand for Li-ion batteries in LSEV during the forecast period.
- Hence, the factors, such as government support for EV adoption, domestic lithium-ion battery manufacturing, advantages of lithium-ion batteries over lead-acid batteries, and the acquisition of lithium reserves, are expected to boost the growth of lithium-ion batteries in the automotive segment of India.

India’s Plans to Boost National Battery Manufacturing is Likely to Drive the Market

- The demand for lithium in India is driven by the nation’s vision to become one of the largest markets for the manufacturing of electronic goods which are linked to the creation of lithium-ion batteries especially in smartphones and electric vehicles.
- To further the goal in this industry, the Government of India, in 2019, unveiled its plans to boost its national battery manufacturing and value-adding capabilities, to meet its electric vehicle (EV) adoption targets. The government is in the process of opening tenders, to set up a 50 GW battery manufacturing base, with around a USD 50 billion investment. The annual subsidy outgo, on this, is estimated to be INR 700 crore. Also, the government is aiming to provide zero duty on import lithium-ion. This will allow the manufacturer to develop the new advanced cell chemistry.
- Also in 2019, Automotive Electronics Power Private Limited (AEPPL), a joint venture between Toshiba Corporation, Denso Corporation, and Suzuki Motor Corporation, signed a Memorandum of Understanding (MoU) with the State Government of Gujarat for a Rs 4,930-crore expansion (in-two phase) investment in its upcoming lithium-ion battery production plant at Hansalpur, in Ahmedabad district. The plant in Gujarat will manufacture and supply lithium-ion batteries to Maruti Suzuki and Suzuki Motor Gujarat.
- Also, in 2019, India signed an MoU with Bolivia for the development and industrial use of lithium, for the production of Lithium-ion batteries. As part of the MoU, Bolivia will support supplies of Lithium and Lithium carbonate to India and foster joint ventures for Lithium battery production plants in India.
- As of January 2021, the Department of Atomic Energy, Government of India has discovered 1600kg Lithium in Mandla district of Karnataka. Hence, this untapped potential access to lithium reserves in India is also expected to ensure the low-cost manufacturing of lithium-ion batteries and a stronghold over the EV supply chain in the Indian market.
- Hence, the country’s plan to boost the national battery manufacturing capacity is expected to drive the market in the coming years.

Competitive Landscape
The Indian lithium-ion battery market is partially fragmented. Some of the major companies include Exicom Tele-Systems Limited, Samsung SDI Co, Panasonic Corporation, Tata Chemicals Ltd., and Nexcharge Inc.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off


  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Lithium-ion Battery Market - Growth, Trends, and Forecasts (2020 - 2025)

  • $ 4250
  • December 2020
  • 169 pages

The market for lithium-ion batteries is expected to register a CAGR of 22.58%, during the forecast period (2020-2025). Major factors driving the market studied are the emergence of new and exciting markets, ...

  • World
  • APAC
  • Lithium-Ion Battery
  • Battery
  • Industry analysis
  • Electric Vehicle Sales
  • Greenhouse Gas Emissions


Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on