Lithium batteries are becoming popular in consumer electronics and electrical equipment manufacturing all around the country due to their low weight, high energy density, and extended lifespan. Currently, these batteries are being used in energy storage and electric automobiles. The compound annual growth rate (CAGR) for lithium battery manufacturing and consumption is expected to be 17.21 percent in the upcoming years. The market for Lithium battery is projected to be valued at ₹125.64 billion in 2020 and ₹310.89 billion in 2026. The Indian government anticipates that 30% of all modes of transportation in the nation will be powered by electric automobiles by the year 2030. Because of India's enthusiasm for electric vehicles in general, the lithium battery industry is expected to grow at a significant pace in the next 2 decades.India's lithium battery market is expanding at an unbelievable rate. In the next decade, India will face a significant transition to lithium battery powered vehicles according to the recent UN reports.
Did you know? Lithium batteries are manufactured using the natural minerals found in the country such as cobalt, aluminium, and copper, to make them affordable for the customers.
What Happens When a Lithium Battery is Charged?
The components of a lithium battery include anodes, cathodes, separators, and electrolytes. The positive electrode releases lithium ions into the electrolyte during charging, which travels to the negative electrode via the electrolyte. All of this power is stored in the battery. The passage of lithium ions produces an electric charge transmitted to a powered device with a battery.
Features of Lithium Batteries
One of the numerous benefits of lithium batteries is its:
- high energy density
- low weight and it is easy to carry around
- quick charging capacity
- safe to use
- don’t need to maintain frequently
You will save a lot of money by using this battery to power most of your electronic devices in terms of monthly electricity bills.
Statistical Details on Lithium Battery Consumption
Electric vehicles account for approximately 24 percent of total global lithium consumption. The United Nations predicts that by 2030, this percentage would have increased to 79 percent. Sales of electrical and electronic-related products will account for the majority of the remaining 21% of total lithium consumption.
The International Lithium Association (ILIA) estimates that by 2030, lithium consumption would have increased by 40times higher compared to today's levels. According to the USDA, one million tonnes would have been consumed by 2025, and three million tonnes by 2030, if current trends continue.
Lithium batteries are becoming increasingly popular in a wide range of applications and industries including communications, energy storage, government manufacturing initiatives among others.
- Among lithium-ion battery manufacturers, Tesla is the most well-known brand, thanks to its electric vehicles, energy storage systems, and of course, its battery technology. The ongoing production of electric vehicles by Tesla has resulted in the company's growth into a significant consumer of lithium. The contract with the large lithium producer globally, which had previously been terminated, has been extended to the benefit of the company.
- Panasonic is also one of the world's most well-known manufacturers and suppliers of lithium batteries. These two companies are the major players in the lithium battery manufacturing industry.
According to reports, many global corporations have announced their plans to build lithium battery manufacturing operations in India to meet the country's expanding demand.
With the addition of Lithium batteries to its product portfolio, Loom Solar becomes the first lithium battery manufacturer to offer a 6-Ah to 100-Ah range of lithium batteries in the consumer market through retail channels and online marketplaces. As the demand for lithium batteries continues to grow, Loom Solar is focusing on integrating various electronic products to its lithium batteries through constant research and innovation, resulting in bespoke designs that are tailored to the needs of the growing market.
A start-up in the United Kingdom that develops sodium-ion batteries was recently purchased by Reliance New Energy Solar. A major investment in this company by India's largest conglomerate is intended to accelerate the commercialization of electric vehicle battery technology. According to the company, sodium-ion technology is both safer and less expensive than other technologies available today. In addition to this, Reliance is constructing an integrated manufacturing facility in India which will aid in faster production.
One of the world's most well-known automobile manufacturers, Mahindra, is expanding swiftly into electric vehicles and lithium battery manufacturing. A number of new vehicles were unveiled, including the Mahindra Treo, India's first battery-powered auto rickshaw, as well as a cargo version of it. In addition, the firm is introducing a wide range of electric automobiles to the market.
One of India's most important automobile manufacturers of India has joined hands with IonQ, a quantum computing startup to collaborate on the development of the lithium batteries. As a result of the collaboration, lithium batteries used in electric vehicles will have a longer lifespan, a greater capacity, and higher safety, among other benefits, informs the recent press release from the company.
It was one of ten Indian companies that made first proposals for the lithium battery manufacturing project. Ola's investment in an electric vehicle and lithium battery manufacturing unit was one of the company's first moves after entering for the bid. Ola Electric Mobility has committed to building the world's largest factory for the production of lithium batteries. It will be located in the city of Bangalore.
Amaron is the most well-known of the brands manufacturing lithium batteries and it is held by the Amara Raja Group, and it is also the most profitable among all of its competitors. An industry pioneer in Indian storage battery technology, the business has grown to become the world's largest maker of lead-acid batteries for use in industrial and automotive projects. The battery behemoth is shifting away from lead-acid batteries in favour of electric mobility solutions and lithium-ion batteries, according to a statement by the official sources of the organisation. In addition, the construction of a gigafactory for the production of lithium batteries for electric vehicles is being considered for the future.
Panasonic's lithium battery options available for tiny electrical devices as well as standby batteries in case of an emergency power crises. Durability and excellent stability across a broad range of temperatures make it suitable for outdoor equipments. For computers and mobile phones, Panasonic's lithium batteries are ideal since they are slimmer and lighter.
The lithium ion batteries created by the Korean behemoth are the largest and the most powerful ones in the entire globe. A substantial amount of progress has been achieved in the production of lithium batteries, and the company is the main reason behind this growth.
Nowadays, lithium batteries are used for multiple purposes. And the need for these batteries has recently grown to massive levels, thanks to the production of electric vehicles by well-known companies. Apart from their affordability, they are good for the environment as well. We hope that this article would have provided a clear overview of the best lithium battery manufacturers in India.