India Lithium-Ion Battery Market is Estimated to Reach $5 Billion by 2025, Says Accurize Market Research

India lithium-ion battery market report published by Accurize Market Research forecast that the global market is expected to reach $5 billion by 2025; growing at a CAGR of 26.2% from 2017 to 2025. A lithium-ion battery or Li-ion battery is a type of rechargeable battery in which lithium ions move from the negative electrode to the positive electrode during discharge and back when charging. The lithium-Ion batteries are currently imported from China primarily as India does not have any manufacturing plant at present.

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An upsurge in demand for electronic devices such as smartphones and tablets across the country to drive the growth of the market

The rise in disposable income of buyers has led to an upsurge in demand for electronic devices such as smartphones and tablets which has further supplemented the growth of lithium-Ion batteries in India. Moreover, the government initiative to reduce the pollution level and growth in the automotive sector has increased the production of electric vehicles.

Market Segmentation

The India lithium-ion battery market has been bifurcated on the basis of material type and industry vertical. The material segment includes cathode, anode, electrolytic solution, and other materials. The industry vertical segment is categorized as electronics, automotive, industrial, and other industry verticals.

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Top players in the market

The key market players include Hitachi Chemical Co., Ltd., Samsung SDI Co. Ltd., Panasonic Corporation, Toshiba Corporation, and China BAK Battery Co. Ltd., among others.