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According to the latest report by GMI Research, India Lithium Ion Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2020-2027. The India Lithium Ion Battery Market examines the impact of the COVID-19 pandemic and illustrates that the market is likely to experience a sharp fallout in 2020, and will accelerate in 2021, growing at a higher growth rate from 2022 onwards. The lithium ion battery refers to the rechargeable battery having an advanced battery technology. These batteries use li-ion as an essential component of its electrochemistry. Li-ion batteries are light-weighted and use numerous materials, including electrolyte, anode, separator, cathode, and current collector.
Competitive Landscape: The India Lithium Ion Battery Market report also scans the competitive landscape and profiles the major players operating in the market, including BYD Co Limited, Amara Raja Batteries Ltd, Suzuki Corporation, Exide Industries Limited, Exicom Power Solutions, Samsung SDI, Panasonic Corporation, LG Chem, HBL Power Systems Limited, and Toshiba Corporation.
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The significant factors contributing to the growth of the Lithium-Ion Battery market in India include the strong demand for consumer electronics and increasing demand for electric vehicles. The government of India has launched initiatives, including FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) to support the usage of electric vehicles. The various government initiatives to reduce carbon emission is promoting the usage of electric vehicles in India, which is the major factor responsible for expansion in the lithium ion battery market size in India, in terms of revenue.
The Indian government has introduced different tax benefits and subsidies to the manufacturers of li-ion batteries in India and the reducing prices of li-ion batteries will further create innumerable growth opportunities in the market. Additionally, the increasing R&D activities by different companies and battery manufacturers and the strong demand for automation and battery-based equipment in various industries, will energize the growing demand of the lithium ion battery market size in India.
For further information on these analyses, please visit: https://www.gmiresearch.com/report/india-lithium-ion-battery-market/
Breakup by Type:
· Lithium Nickel Manganese Cobalt
· Lithium Iron Phosphate
· Lithium Cobalt Oxide
· Lithium Titanate Oxide
· Lithium Manganese Oxide
· Lithium Nickel Cobalt Aluminum Oxide
Breakup by Power Capacitor:
· 0 TO 3,000 mAH
· 3,000 TO 10,000 mAH
· 10,000 TO 60,000 mAH
· More Than 60,000 mAH
Breakup by Voltage:
· Low (Below 12 V)
· Medium (12 V – 36 V)
· High (Above 36 V)
Breakup by Industry:
· Consumer Electronics
- Others (Games, Gardening Tools, and Drilling)
- Battery Electric Vehicles
- Plug-In Hybrid Electric Vehicles
· Aerospace & Defense
- Commercial Aircrafts
- Mining equipment
- Construction equipment
- Forklifts, Automated Guided Vehicles (AGV), and Automated Mobile Robots (AMR)
About GMI Research
GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst use tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.
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