India Battery Cell Market Size (2024 - 2029)

The India Battery Cell Market is anticipated to experience significant growth over the forecast period, driven by increasing demand due to factors such as population growth, urbanization, and the rising affordability of electronic devices. The market has rebounded to pre-pandemic levels after being adversely affected by COVID-19. Despite challenges like limited access to battery metals, advancements in technology and the decreasing cost of smart gadgets are expected to offer substantial opportunities for market expansion.

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Market Size of India Battery Cell Industry

India Battery cell Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 9.00 %
Market Concentration Medium

Major Players

India Battery cell Market Major Players

*Disclaimer: Major Players sorted in no particular order

India Battery Cell Market Analysis

The India Battery cell market is projected to register a CAGR of over 9% during the forecast period (2022-2027).

The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.

  • Over the medium term, the growing demand for batteries is expected to stimulate the market growth of Battery cells. Increasing population, urbanization, declining cost of electronic items, the introduction of new smart technology, and cheaper internet data. Replacement of older smartphones with newer ones is also expected to drive the growth of the market studied.
  • On the other hand, the lack of direct access to battery metals is one of the major restraints for the market.
  • Nevertheless, technological advancements, the price of smart gadgets (smartphones, tablets, and laptops, among other similar technically advanced gadgets) is expected to decline, making them more affordable to the public, are expected to provide growth opportunities in the forecast period.

India Battery Cell Industry Segmentation

A battery cell is an electrochemical unit that provides a source of electrical energy by direct conversion of chemical energy and consists of and assembly of electrodes, separators, electrolytes, containers, and terminals. The battery cell market is segmented by type and application. By application, the market is segmented into automotive batteries, industrial batteries, portable batteries, power tools batteries, SLI batteries, and others. By type, the market is segmented into prismatic, cylindrical, and pouch. for each segment, the market sizing and forecasts have been done based on revenue (USD million).

Type
Prismatic
Cylindrical
Pouch
Application
Automotive Batteries
Industrial Batteries
Portable Batteries
Power Tools Batteries
SLI Batteries
Others
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India Battery Cell Market Size Summary

The India Battery Cell Market is experiencing a resurgence, having recovered to pre-pandemic levels after the initial setbacks caused by COVID-19. The market is poised for significant growth, driven by factors such as increasing urbanization, a rising population, and the declining costs of electronic devices. The proliferation of smart technology and affordable internet access further fuels this demand. The replacement cycle of older smartphones with newer models also contributes to market expansion. However, challenges such as limited access to essential battery metals pose constraints. Despite these challenges, technological advancements and the anticipated decrease in smart gadget prices are expected to create substantial growth opportunities in the coming years.

The market landscape is characterized by the popularity of prismatic and cylindrical battery cells, which are integral to various applications, including electric vehicles, mobile phones, and energy storage systems. The Indian government's initiatives to promote electric vehicles and the anticipated growth of the electronics manufacturing sector are expected to bolster demand for these battery cells. The government's ambitious targets for electric vehicle adoption and supportive policies are set to drive the market further. Additionally, investments in battery cell infrastructure and innovations such as the Aluminium-Graphene pouch cell and sodium-ion batteries are indicative of the market's dynamic nature. Key players like BYD Co. Ltd, CATL, and LG Energy Solution, Ltd. are actively contributing to this evolving landscape.

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India Battery Cell Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD million, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Prismatic

      2. 2.1.2 Cylindrical

      3. 2.1.3 Pouch

    2. 2.2 Application

      1. 2.2.1 Automotive Batteries

      2. 2.2.2 Industrial Batteries

      3. 2.2.3 Portable Batteries

      4. 2.2.4 Power Tools Batteries

      5. 2.2.5 SLI Batteries

      6. 2.2.6 Others

India Battery Cell Market Size FAQs

The India Battery Cell Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)

Bharat electronics Limited, Enersys, BYD Co. Ltd, CATL and LG Energy Solution, Ltd. are the major companies operating in the India Battery Cell Market.

India Battery Cell Market Report Snapshots

India Battery Cell Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)