Increasing Demand for Smart Devices and Electric Vehicles Driving Li-Ion Batteries Market in India Says TechSci Research


Growing Domestic Demand for Consumer Electronics, Automotive Applications and Favorable Government Initiatives to Drive Demand for Li-Ion Batteries in India

British Columbia (I-Newswire) January 27, 2014 - Lithium ion (Li-ion) batteries are rechargeable batteries witnessing increasing adoption in consumer electronics and automotive applications. India is one of the major Li-ion markets, exhibiting double digit growth. The demand for lithium ion batteries has increased exponentially due to growing demand for smartphones and tablet PCs over last few years. India stands at number three position, globally, in terms of overall smartphone unit shipments. Leading market players such as Samsung and Nokia are manufacturing their mobile phones in the country, which is significantly boosting demand for lithium ion batteries in India.

According to the recently published TechSci Research report "India Li-ion Batteries Market Forecast & Opportunities, 2018", the Indian Li-ion batteries market, in revenue terms, is projected to grow at a CAGR of around 24% during 2013-18. Sony, Samsung SDI and Heter Electronics are the leading suppliers of Li-ion batteries in India. However, these companies are currently heavily dependent on Li-ion battery imports from China, Taiwan, Japan and Korea.

The report reveals that the country's southern region generates highest demand for Li-ion batteries on account of significantly growing IT, electronics and automobile sectors in the region. The Li-ion batteries market is largely driven by consumer electronics segment due to high volume requirements in products like mobile devices, tablet PCs, laptops, camera, etc. On the other hand, usage of Li-ion batteries in automobile sector is relatively at its nascent stage in India. The concern of increasing Green House Gas (GHGs) emissions from vehicles, coupled with rising prices of gasoline products, have made the government to promote electric / hybrid vehicle/ plug-in electric vehicles in the country. Under the National Electric Mobility Mission Plan (NEMMP), the government has set a target of around 5 to 7 Million electric vehicles by 2020 in the country. In order to achieve this objective, the government has introduced various tax exemptions for Li-ion batteries used in electric vehicles in the 12th five year plan. Li-ion batteries provide inherent safety in electric vehicles compared to conventional batteries such as lead-acid. As a result, the demand for automobile Li-ion batteries is anticipated to increase exponentially during 2013-18.

"In India's lithium ion batteries market, lithium cobalt accounts for the largest share, in revenue terms, due to its increasing demand from consumer electronics applications. This battery type is expected to continue its dominance over the next five years, on account of growing smartphones and tablet PCs market. However, with the emergence and adoption of electric vehicles, the demand for lithium iron phosphate battery is projected to witness fastest growth rate", said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.

"India Li-ion Batteries Market Forecast & Opportunities, 2018" has analyzed the potential of the Li-ion batteries market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.






About TechSci Research

TechSci Research is a global market research and consulting company which provides research solution   More..s to its customers worldwide, spanning a range of verticals.

The company provides syndicated research reports, custom research solutions, data analytics and online paneling services for a variety of industry verticals including IT & Telecom, Pharmaceuticals & Healthcare, Automotive, BFSI, Retail and Consumer Goods. These solutions and services include Customer Satisfaction Studies, Competitive and Business Intelligence, Channel Partner Research, Market Opportunity Assessment, Brand Health Trackers, Disease and Treatment Patterns, Brand Assessment and Buyer Behavior Studies and many more.....Less..

Contact Information

TechSci Research
Ken Mathews
2950, Boundary Road,Burnaby, British Columbia,
Canada
VM5 3Z9
Phone : 16463601656


Published On:

January 27, 2014

Print Release:

Print Release

If you have questions regarding information in this press release contact the company listed above. I-Newswire.com is a press release service and not the author of this press release.The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies and PR Agencies submit their press releases once per week,month or quarter, make sure to check the official company website for accurate release dates as our site displays the I-Newswire.com press release distribution date only.We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for or omissions in that information or for actions taken in reliance on that information.


Related Releases

Sturdy Gun Safe Offers American Made Gun Safes at the Best Prices
Sturdy Gun Safe has been offering American Made Gun Safes at the Best Prices. They are one of the best commercial gun and fire safe manufacturers in the USA.

Lotus Greens Yamuna Expressway - Select Your "Living Style"
The new entrant "Lotus Greens Developers" has launched another astonishing project at Yamuna Expressway of Sector-22D Greater Noida. Now-a-days, there is a huge demand for commercial or residential properties along with the luxury amenities.

Teknowledge Extends Its Social Media Campaigns To Behance
Teknowledge Mobile Studio recently laid down a marker for all its professional rivals, by adding Adobe Behance to its overall social media marketing portfolio. The best works of the company would be presented on the channel, and the company is lookin

Frontier Label Announces Discount Code For The Month
Frontier Label, the well-known labeling company offering custom printed labels and a variety of other options for different industries recently announced discount codes.

Las Vegas Home Being Sold By the Ballen Group
The Las Vegas real estate team, known as The Ballen Group, have entered into discussions with a buyer for a Las Vegas home located on Cherokee Avenue.