(MENAFN- GlobeNewsWire - Nasdaq) Key opportunities in the India lithium market include leveraging ambitious renewable energy targets, boosting lithium battery demand for EVs and consumer electronics, and capitalizing on grid storage growth. South and West India show significant potential, driven by investments in manufacturing and infrastructure.Dublin, Nov. 18, 2025 (GLOBE NEWSWIRE) -- The "India Lithium Market Growth Analysis - Forecast Trends and Outlook (2025-2034)" has been added to ResearchAndMarkets's offering.
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The India lithium market is on a significant growth trajectory, valued at USD 171.60 Million in 2024 and projected to scale up to USD 625.09 Million by 2034 at a compound annual growth rate (CAGR) of 13.80%. This surge is primarily fueled by India's aggressive renewable energy goals, bolstering lithium battery demand.
India's push towards achieving 500 gigawatts of non-fossil fuel energy by 2030 necessitates advanced energy storage solutions. Lithium-ion batteries, renowned for their superior energy density, are integral in stabilizing the grid and integrating renewable sources like solar and wind. As a result, there is a vigorous drive for domestic lithium sourcing and production capabilities, supported by government policies and private investments to expand lithium-based infrastructure.
Key government initiatives and investments from players such as Adani Group are propelling market growth. In June 2025, Adani commissioned India's first off-grid 5 MW green hydrogen plant in Gujarat, which operates entirely on solar power, showcasing the potential for innovative uses of lithium technology.
Recent Developments:
The rapid adoption of electric vehicles, buoyed by government incentives, significantly influences the lithium battery supply chain. In 2023 alone, EV sales almost doubled, spurring companies like Tata Motors to expand their electric vehicle lineup, further driving lithium market dynamics.
Moreover, the consumer electronics sector's booming demand for lithium is notable as shipments exceeded 144 million devices by the end of 2023, outpacing EV sector battery consumption.
Gigafactory expansions are reshaping the market landscape, with Exide Industries' upcoming 6 GWh facility promising to alleviate import dependencies. Supporting policies, including import duty removal and strategic mineral initiatives, are incentivizing local industry growth.
India's considerable lithium reserves discovered in Jammu and Kashmir underline its potential to become self-reliant. While the initial mining interest was muted, renewed efforts aim to leverage these resources to fuel industry expansion.
Competitive Landscape:
Prominent entities like Exide Industries and Tata Chemicals are instrumental in local lithium production. Their investments are supported by initiatives like Make in India and Atmanirbhar Bharat, fostering a robust ecosystem. Noteworthy enterprises expanding in this domain include NMDC Ltd and Vardhaan Lithium (I) Pvt. Ltd, highlighting the rapid industry evolution.
Key Market Trends and Insights:
The South India lithium market led the sector in 2024 and is set to expand at a 15.7% CAGR. Grid storage applications are gaining momentum with a projected 16.4% CAGR. Lithium hydroxide is anticipated to grow at a 14.2% CAGR. The West India region will experience the fastest growth at 14.8% CAGR.
Market Segmentation Insights:
Lithium hydroxide is favored for high-performance batteries in EVs and electronics due to its superior properties. The automotive sector leads in application usage, but consumer electronics show the fastest growth. Regionally, South India spearheads growth with substantial EV and renewable energy investments.
Key Highlights:
Comprehensive market analysis revealing long-term trends and investment opportunities through 2034. Insight into innovative product developments and technology across the lithium value chain. A region-wise assessment of high-potential zones for lithium mining and manufacturing.
Key Attributes:
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