India Sodium-ion Battery Market – An Early Mover Advantage: Makreo Research

MUMBAI, India - May 16, 2022 - PRLog -- In India, the increasing number of population and growing urbanization is driving demand for portable segment which includes laptops, cameras and other digital devices. India being the second largest populated country can leverage the push in demand for digital devices and so as further push in lithium-ion battery demand. Many players have recently joined the EV production field in various categories such as two-wheelers, three-wheelers/E-Rickshaws, personal automobiles, and other public transportation such as buses.

Even though India has lack of reserves of raw materials such as lithium and cobalt, the country is trying to develop domestic manufacturing facilities to meet the future demand and reduce the cost of production of EVs. Owing to limited reserves and high cost of production of Li-ion batteries there is a need to look for an alternative therefore Sodium-ion is gaining popularity. Considering the early stage of development, Sodium-ion is not as effective as Li-ion but it is expected that with more advancements in production this segment will gain acceptance in the Electronics and Electricals segment along with Electric vehicles.

India to become Future Export Hub for Batteries: India has the potential to contribute to global battery manufacturing facilities, but it will need raw materials for the production of Li-ion batteries to do so. This need in India is met by imports from other countries, raising the country's production costs. This emphasises the need for more long-lasting low-case batteries, which opens up opportunities for sodium-ion battery development.

Makreo Research and Consulting has conducted a study on Future scope of development for Sodium-ion batteries in India that has been discussed in report titled "Opportunities in India Sodium-ion Batteries Market". The report delves deeply into various parameters such as global demand of sodium-ion batteries, Electric vehicle demand in India, electrical and electronics market expansion in India, present state of India sodium-ion battery market. The study includes market dynamics that provide an understanding of industry opportunities, driving forces, major challenges impeding growth, and an analysis of future opportunities that may help market players capitalise on untapped business potential in the specific geography.

To know more about Makreo or to access the detailed study, please refer to the link below:
https://www.makreo.com/report/opportunity-in-india-sodium-ion-battery-market

Or write us at ankit.suri@makreo.com
Call us at +91-9619699069