Future Outlook of the India Lithium-Ion Battery Component Market: Analyzing Size, Segmentation, and Competitive Landscape By Report Ocean
Introduction
The “ India Lithium-Ion Battery Component “ market’s future trajectory is a topic of paramount importance, necessitating a comprehensive analysis encompassing market size, segmentation, competitive landscape, present conditions, and anticipated trends. Moreover, the ongoing challenges posed by the COVID-19 pandemic also warrant strategic insights for businesses to navigate these circumstances successfully.
Market Size and Segmentation
The India Lithium-Ion Battery Component market’s evolution hinges on understanding its size and segmentation dynamics. This entails delving into aspects like product types, applications, and geographical distribution. By dissecting these facets, a clearer perspective on future growth prospects can be gained.
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The India lithium-ion battery component market held a market value of USD 2,441.7 Million in 2020 and is estimated to reach USD 6,549.9 Million by the year 2025. The market is anticipated to register a CAGR of 21.8% during the forecast period.
Lithium-ion batteries are a type of rechargeable battery. They are quite commonly used in electric vehicles and portable electronics. It also has numerous applications in the military and aerospace sectors. The market is witnessing double-digit growth owing to the factors such as increasing penetration of electric vehicle sales and rising adoption of consumer electronics. Furthermore, rapid acceleration in supporting domestic industry of EV in India is also anticipated to boost the market growth.
The market is expected to be negatively influenced by the heavy reliance on imports of lithium-ion batteries and the availability of limited technical information about them. Furthermore, safety concerns regarding the storage and transportation of spent batteries are also estimated to hinder market growth.
Growth Influencers:
Increasing penetration of electric vehicle sales
The main source of power for electric vehicles is lithium-ion batteries. The rising adoption of electric vehicles owing to the increasing awareness regarding the environmental impact of non-electric vehicles is expected to boost the market growth. The sales of electric vehicles are rapidly rising owing to their high popularity as they have very fewer maintenance costs as compared to their counterparts and they are also energy savings. According to ETAuto.com, in India, 121,170 units of electric vehicles were sold between January to July 2021, as compared to 119,647 electric vehicles sold in whole of 2020. Due to these factors, electric vehicles are considered the future of the automobile industry, hence also boosting the demand for lithium-ion batteries.
Increasing adoption of consumer electronics
Lithium-ion batteries are used in consumer electronics, such as smartphones, digital cameras, and power tools, among others. Since the demand for high battery power for the wireless device is continuously increasing; the demand for lithium-ion batteries is also rapidly increasing. Other examples of consumer electronics, using lithium-ion batteries include, wearable devices, laptops, tablets, computers, TVs, VR & AR devices, and gaming consoles, among others. Rising demand for all these devices is expected to fuel market growth.
Segments Overview:
The India lithium-ion battery component market is segmented into type, power capacity, application, and form/design.
By Type,
? Lithium Nickel Magnesium Cobalt (LI-NMC)
? Lithium Ferro Phosphate (LFP)
? Lithium Cobalt Oxide (LCO)
? Lithium Titanate Oxide (LTO)
? Lithium Manganese Oxide (LMO)
? Lithium Nickel Cobalt Aluminum Oxide (NCA)
The lithium cobalt oxide (LCO) segment is anticipated to hold the largest market share of 36% owing to its growing adoption in video cameras, laptops, mobile phones, and other such modern electronic gadgets. The lithium ferro phosphate (LFP) is estimated to grow at the fastest growth rate of 38.5% during the projected period owing to its high usage in solar energy installations, power tools, and electric vehicles, among others.
By Application,
? Consumer Electronics OEMs
o Smartphones
o Laptops
o UPS Systems
o Smart Cameras
o Smart Watches
o Smart Glasses
o Smart Textiles
o Others
? Automotive OEMs
o Hybrid Electric Vehicles (HEVs)
o Battery Electric Vehicles (BEVs)
o Others (Service Stations/Dealers)
? Energy Storage
o Commercial
o Industrial
o Residential
o Utilities
? Industrial OEMs
o Military
o Industrial Equipment
o Medical
o Marine
o Telecommunication
o Mining
o Forklifts
o Others
? Other OEMs
? Aftermarket
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The automotive OEMs segment is anticipated to witness the fastest growth rate of 35.3% owing to the rising applications of lithium-ion batteries in battery-driven vehicles. The consumer electronic OEMs segment is anticipated to hold the largest share of the market and within this segment; the smartphones segment is anticipated to surpass a market value of USD 450 million by 2024. Within the industrial OEMs segment, the marine segment is estimated to cross a market size of USD 12.5 million by 2023.
By Power Capacity,
? 0-300 mAH
? 3,000-10,000 mAH
? 10,000-60,000 mAH
? More than 60,000 mAH
The more than 60,000 mAH segment is estimated to grow at the fastest growth rate during the forecast period owing to increasing demand for batteries of this capacity in automotives. The 0-300 mAH segment is expected to surpass a market value of USD 1200 million by 2023.
By Form/Design,
? Pouch
? Cylindrical
? Elliptical
? Prismatic
? Custom Design
The pouch segment is anticipated to hold the largest market share owing to the high demand for pouch-shaped lithium-ion batteries. The prismatic segment is expected to grow at the fastest growth rate over the forecast period.
Regional Overview
By region, the India lithium-ion battery component market is divided into North India, South India, East India, and West India.
The South India region is expected to hold the largest market share owing to increasing demand for consumer electronics in the region, owing to the presence of a large information technology industry in this region. The region consists of Tamil Nadu, Kerala, Karnataka, and Andhra Pradesh. North India consists of states such as Uttar Pradesh, Rajasthan, Delhi, and Haryana.
The West India region is estimated to grow at the fastest rate owing to the presence of many manufacturing plants in this region. West India consists of Gujarat, Madhya Pradesh, and Maharashtra. The East India region consists of West Bengal, Bihar, and Assam. West Bengal is anticipated to surpass a market value of USD 43.6 million by 2025.
Competitive Landscape
Local players operating in the India lithium-ion battery component market include ISRO, Amara Raja Group, HBL Power Systems Limited, EON Electric Ltd., Exide Industries Ltd., Microtex Energy Pvt. Ltd., Mercom Capital Group, LLC, Tata Chemicals, and Bharat Heavy Electricals Ltd., among others.
Global players operating in the lithium-ion battery component market include BYD Company, LG Chem, Panasonic Corporation, Samsung SDI, BAK Group, Hitachi Corporation, Johnson Controls, and Toshiba Corporation, among others.
Major 4 players in the market hold approximately 47% of the market share. These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in July 2021, LG Chem acquired LG Electronics? separation membrane business in order to strengthen its position as the largest general battery material company.
The India lithium-ion battery component market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the India lithium-ion battery component market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The India lithium-ion battery component market report answers questions such as:
? What is the market size and forecast of the India lithium-ion battery component Market?
? What are the inhibiting factors and impact of COVID-19 on the India lithium-ion battery component Market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the India lithium-ion battery component Market?
? What is the competitive strategic window for opportunities in the India lithium-ion battery component Market?
? What are the technology trends and regulatory frameworks in the India lithium-ion battery component Market?
? What is the market share of the leading players in the India lithium-ion battery component Market?
? What modes and strategic moves are considered favorable for entering the India lithium-ion battery component Market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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