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, as per NITI Aayog report.
The report also 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.
As per NITI Aayog report :
As per the report, the current deployment of lithium-ion batteries (LIBs) in India is dominate by consumer electronics, which comprises smartphones, laptops, notebooks, tablets and is further expect to grow with the digitalisation of platforms and the integration of technology in day-to-day life.
Report Title is “Advanced Chemistry Cell Battery Reuse and Recycling Market in India” Said :
The report point 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% of the LIB market (0.92 GWh).
According to the report, between 2010 and 2020, the global demand for batteries grew at a compound annual growth rate (CAGR) of 25% to reach an annual demand of about 730 GWh.
By 2030, the demand for batteries is expect to grow four folds to reach an annual rate of 3,100 GWh, it said, adding this shows a growth of 16% CAGR through 2020–2030.
The report note that the electrification of transportation and battery energy storage in electricity grids are expect to be the key drivers in the growth of battery demand.