EVs to drive lithium-ion battery demand growth by remarkable 48% CAGR through 2030: Report

New Delhi [India], July 9 (ANI): The lithium-ion battery (LiB) market in India is poised for rapid growth, driven by increasing demand from consumer electronics (CEs), electric vehicles (EVs), and stationary storage (SS) applications, according to a joint report by India Cellular and Electronics Association (ICEA) and Accenture.

The demand for lithium-ion battery is expected to reach 115 GWh by 2030 with consumer electronics growth projected at 3 per cent, stationary storage at 14 per cent, and EVs at a remarkable 48 per cent CAGR between now and 2030.