Market Size of India Battery Cell Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
