India Lithium-ion Battery Manufacturing Market 2020
Market Reports on India Provides the Trending
Market Research Report “Lithium-ion Battery
Manufacturing Market in India 2020”under Manufacturing Category. The
report offers a collection of superior
market research, market analysis, competitive intelligence and Market reports.
The rapid
penetration of electric vehicles in India is expected to drive the need for Lithium (Li)-Ion Battery
Manufacturing in the
country. Li-ion batteries act as the primary storage option for
electro-chemical energy. These batteries are rechargeable and contain Li-ion as
the key component of electrolyte.
The
manufacturing of Li-ion batteries is dependent on the sourcing and mining of
lithium, and other minerals like cobalt, aluminium and copper. The overall
process of Li-ion battery manufacturing encompasses the production of cell
components (electrode, electrolytes and separators), cell and module
production, battery pack assembly, and integration of components. The major
applications of Li-ion battery include electric vehicles (EV), EV charging and
swapping stations, and grid services.
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Market opportunity insights:
The Li-ion battery manufacturing industry in
India is at a nascent stage at present. However, the country holds the
potential to emerge as the key manufacturer of Li-ion batteries over the next
few years. India can proceed to develop the Li-ion battery manufacturing
industry through three distinct stages: stage one (2017 to 2020), stage two
(2021 to 2025), and stage three (2026 to 2030). In stage one, during the
2017-2020 period, the primary focus is to create an ambient manufacturing
environment in the country. The Li-ion battery manufacturing industry is
anticipated to capture an economic value of around INR 1,300 Bn to INR 1,400
Bn, during stage one.
In stage two (2021 to 2025), India is predicted
to capture around 25%-40% of overall economic opportunity for Li-ion battery
manufacturing. The industry is expected strengthen its supply chain network and
make sizeable investments on research and development by 2025. During this
phase, India is anticipated to be involved in the manufacturing of battery
packs, along with limited production of battery cells.
India is expected to enter stage three during the
2026-2030 period. In stage three, manufacturers are projected to be engaged in
end-to-end manufacture of Li-ion batteries. As a result, the dependency on
imports is likely to be reduced significantly at this stage. This phase is
projected to be of utmost importance for the country to establish its independence
in the electric mobility sector by engaging in the production of both EV and EV
batteries at the domestic level.
Market influencers:
The major driving factor propelling the growth of
Li-ion battery manufacturing industry in India is the government’s plan to
boost electric mobility. The Indian government has envisioned the conversion of
two and three wheelers into 100% electric ones by 2030. Currently, India is
dependent on other countries for sourcing EV batteries, which has resulted in
the hiked price of EVs. The penetration of EVs in the Indian automotive sector
is expected to bolster the need for indigenous manufacturing of Li-ion
batteries, to make them economically viable.
Sizeable investments from foreign and domestic
players have been playing a major role in boosting the Li-ion battery
manufacturing market in India. Supportive financial policies like land grant,
reduction in number of permits, tax reduction in foreign investments and direct
government subsidies have encouraged the influx of investments. Suzuki Motor
Corporation, Toshiba Corporation and Denso Corporation have invested INR 37.15
Bn and INR 12.14 Bn in two phases to build Li-ion battery assembly lines in
Gujarat.
A significant impediment to the growth of the
market is that the country is reliant on the import of raw materials owing to
its lack of mineral reserves. India is dependent on countries like China,
Chile, Bolivia, Argentina and Australia to meet the demand for lithium.
Furthermore, other crucial raw materials like cobalt, nickel, manganese and
graphite are also sourced from various foreign countries. On the other hand,
the ecosystem consists of numerous stakeholders and the weak coordination among
them restrains the development of a robust supply chain network in the industry.
Companies covered:
• Adani Group
• Amara Raja Batteries Limited
• Bharat Heavy Electricals Limited (BHEL)
• Exide Industries Limited
• HBL Power Systems Ltd
• Tata Chemicals Limited
• Automotive Electronics Power Pvt. Ltd
• Mahindra Electric Mobility Ltd
• Panasonic India
• Toshiba India Pvt. Ltd
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