{"id":5760,"date":"2022-02-16T10:50:00","date_gmt":"2022-02-16T02:50:00","guid":{"rendered":"https:\/\/darksalmon-dugong-512221.hostingersite.com\/?p=5760"},"modified":"2022-02-16T10:50:04","modified_gmt":"2022-02-16T02:50:04","slug":"indias-lithium-battery-market-to-reach-2-6-gw-in-2021-116-gw-in-2030","status":"publish","type":"post","link":"https:\/\/ygspower.com\/en\/indias-lithium-battery-market-to-reach-2-6-gw-in-2021-116-gw-in-2030\/","title":{"rendered":"India’s lithium battery market to reach 2.6 GW in 2021, 116 GW in 2030"},"content":{"rendered":"\n
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According to a new research report by JMK Research and the Institute of Energy<\/strong><\/u><\/strong><\/a>\u00a0Economics and Financial Analysis (IEEFA), India’s annual lithium-ion battery<\/strong><\/u><\/strong><\/a>\u00a0market will grow from 2.6 GWh in 2020-21 to 116 GWh in 2029-30, with electric vehicles (EV) accounts for 90% of the overall market.<\/p>\n\n\n\n

The report expects lithium-ion battery<\/strong><\/u><\/strong><\/a> demand for automotive applications to increase from 2.3 GWh in FY 2020-21 to 104 GWh in FY 2029-30, supported by government policies, including rapid application and manufacturing of hybrid and electric vehicles (FAME), and state-level electric vehicle<\/strong><\/u><\/strong><\/a> policies. Demand for <\/u>lithium batteries<\/strong><\/u><\/strong><\/a> in non-automotive applications is expected to increase from 0.3 GWh to 12 GWh, driven by <\/u>telecom<\/strong><\/u><\/strong><\/a> towers, data centers, grid-scale renewable energy (RE) integration, and rooftop solar.<\/p>\n\n\n\n

According to the report, the Indian government is targeting 30% of new car sales to be electric vehicles<\/strong><\/u><\/strong>\u00a0<\/u><\/a>by 2030, India needs to add 450GW of renewable energy by 2030, and India needs to add 34 GW\/136 GWh of battery storage by 2030. will further propel the country to become a key lithium battery consumer.<\/p>\n\n\n\n

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Considering the huge upcoming demand, the report highlights the strengthening of lithium battery<\/strong><\/u><\/strong><\/a> production in India.<\/p>\n\n\n\n

Battery packs<\/strong><\/u><\/strong><\/a> have been developed in India for many years. However, commercial-scale lithium battery<\/strong><\/u><\/strong><\/a> manufacturing has yet to begin. Therefore, the country mainly meets its battery<\/strong><\/u><\/strong><\/a> needs through imports.<\/p>\n\n\n\n

Battery manufacturing cost advantage in India<\/p>\n\n\n\n

The report highlights various compelling reasons for battery<\/strong><\/u><\/strong><\/a>\u00a0manufacturing in India. It noted that, as of late 2020, India had the lowest battery manufacturing cost ($92.8\/kWh), while the US, European countries, and even China ($98.2\/kWh) and South Korea ($98.1\/kWh) had the lowest battery<\/strong><\/u><\/strong><\/a>\u00a0manufacturing costs. higher than India. Likewise, India offers huge cost benefits in terms of cheap labor and electricity (gross monthly minimum wage in India in 2019 was $65 compared to $217 in China). On the demand side, falling battery prices and initiatives including the FAME scheme are encouraging the adoption of electric vehicles in India.<\/p>\n\n\n\n

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“Currently, India is likely to import all the raw materials needed for battery<\/strong><\/u><\/strong><\/a> manufacturing, but this dependence can be reduced by entering into long-term contracts with raw material suppliers or by acquiring some assets in mineral-rich countries, and local capacity will gradually be introduced,” the report said. Establish.<\/p>\n\n\n\n

The report noted that the challenges facing battery manufacturing<\/strong><\/u><\/strong><\/a>\u00a0in India range from a lack of key raw materials to the need for huge investments and a lack of technical know-how. It suggested battery<\/strong><\/u><\/strong><\/a>\u00a0recycling as one of the alternative solutions to meet the surging LiB demand. This will lead to the recycling of 90% of lithium, cobalt, nickel, manganese, and graphite and put India on the path to a circular economy, the report added.<\/p>\n\n\n\n

“In general, however, as India already has a huge cost advantage in battery<\/strong><\/u><\/strong><\/a>\u00a0assembly and software-driven BMS capabilities, once lithium-ion battery<\/strong><\/u><\/strong><\/a> manufacturing flourishes, it can also realize significant gains through a vertically integrated value chain. For batteries Manufacturing and battery<\/strong><\/u><\/strong><\/a>\u00a0pack assembly, as long as battery<\/strong><\/u><\/strong><\/a>\u00a0standardization and battery safety issues are addressed, and industry and government work in sync, India’s future looks promising.”<\/p>\n\n\n\n

\"\"<\/a><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"

According to a new research report by JMK Research and the Institute of Energy\u00a0Economics and Financial Analysis (IEEFA), India’s annual lithium-ion battery\u00a0market will grow from 2.6 GWh in 2020-21 to 116 GWh in 2029-30, with electric vehicles (EV) accounts for 90% of the overall market. The report expects lithium-ion battery demand for automotive applications to increase […]<\/p>\n","protected":false},"author":5,"featured_media":5768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"India's lithium battery market to reach 2.6 GW in 2021, 116 GW in 2030","_seopress_titles_desc":"India's lithium battery market to reach 2.6 GW in 2021, 116 GW in 2030, mylion, India, lithium battery, battery, battery manufacturing, lithium-ion battery, electric vehicle, battery packs, energy, telecom, power","_seopress_robots_index":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[35],"tags":[49,373,270,256,340,374,48,375,64,336,277],"class_list":["post-5760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-battery","tag-battery-manufacturing","tag-battery-packs","tag-electric-vehicle","tag-energy","tag-india","tag-lithium-battery","tag-lithium-ion-battery-2","tag-mylion","tag-power","tag-telecom"],"_links":{"self":[{"href":"https:\/\/ygspower.com\/en\/wp-json\/wp\/v2\/posts\/5760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ygspower.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ygspower.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ygspower.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ygspower.com\/en\/wp-json\/wp\/v2\/comments?post=5760"}],"version-history":[{"count":0,"href":"https:\/\/ygspower.com\/en\/wp-json\/wp\/v2\/posts\/5760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ygspower.com\/en\/wp-json\/wp\/v2\/media\/5768"}],"wp:attachment":[{"href":"https:\/\/ygspower.com\/en\/wp-json\/wp\/v2\/media?parent=5760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ygspower.com\/en\/wp-json\/wp\/v2\/categories?post=5760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ygspower.com\/en\/wp-json\/wp\/v2\/tags?post=5760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}