India’s Demand for EVs, Consumer Electronics to Drive Battery Storage Adoption: NITI Aayog Report

India to have battery storage potential of 600 gigawatt hour (GWh) by 2030, according to a NITI Aayog report based on a recent analysis.

India’s Demand for EVs, Consumer Electronics to Drive Battery Storage Adoption: NITI Aayog Report

By 2030, the demand for batteries is expected to reach an annual rate of 3,100 GWh

Highlights
  • Demand for EVs will drive the adoption of battery storage
  • Current deployment of LIBs in India is dominated by consumer electronics
  • Global demand for batteries grew at a CAGR of 25 percent, says the report
Advertisement

India will have a battery storage potential of 600 gigawatt hour (GWh) by 2030, and demand for electric vehicles, stationary storage and consumer electronics will mainly drive adoption of battery storage, a NITI Aayog report said.

The report further said a coherent regulatory framework incentivising all stakeholders to participate in the recycling process will help in the development of a battery recycling ecosystem in the country.

"Based on our analysis, the total cumulative potential for battery storage in India will be 600 GWh by 2030 – considering a base case scenario and with segments like EVs and consumer electronics projected to be major demand drivers for the adoption of battery storage in India," it said.

According to the report, the current deployment of lithium-ion batteries (LIBs) in India is dominated by consumer electronics, which comprises smartphones, laptops, notebooks, tablets and is further expected to grow with the digitalisation of platforms and the integration of technology in day-to-day life.

" In India, segments like electric vehicles (EVs), stationary storage and consumer electronics are projected to be major demand drivers for the adoption of battery storage," the report titled 'Advanced Chemistry Cell Battery Reuse and Recycling Market in India' said.

The report pointed out that in 2020, consumer electronics energy storage was the biggest market for LIBs, with a cumulative market of 4.5 GWh, though EV sales accounted for around 10 percent of the LIB market (0.92 GWh).

As per the report, between 2010 and 2020, the global demand for batteries grew at a compound annual growth rate (CAGR) of 25 percent to reach an annual demand of about 730 GWh.

By 2030, the demand for batteries is expected to grow four folds to reach an annual rate of 3,100 GWh, it said, adding this shows a growth of 16 percent CAGR through 2020–2030.

The report noted that the electrification of transportation and battery energy storage in electricity grids are expected to be the key drivers in the growth of battery demand.


Why is Oppo making strange choices with its flagship Reno series? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Lithium ion batteries, NITI Aayog
Honor Tablet 8 With Snapdragon 680 SoC, 7,250mAh Battery Launched: All Details
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »