APRIL 20238THE PANORAMATHE FUTURE OF AUTOMOTIVE BATTERY MANUFACTURINGBy 2025, it is expected that sales of electric vehicles are going to triple in number. There will be a push for the demand for EV batteries as these are the most important part of the EV ecosystem. In present conditions, EVs are dependent on lithium-ion batteries. Lithium-Ion batteries are the first to be appearing commercially in the era of 1990s and at present these are going be the choice of electric vehicles. There is a demand for batteries that have been growing exponentially. According to experts, there is demand projected to increase 17-fold by 2030 and it is bringing the barriers of prices that depend on battery storage. India is a vast country with major involvement in large-scale battery manufacturing and industry reports. Reports suggest that India's annual battery market has the potential to surpass $15 billion by 2030. Expansion of Automotive Battery MarketIt is projected that the global automotive lead-acid battery market is poised to reach a value of $ 15.0 billion by 2027 with an exhibition of 2.6 percent CAGR during 2022-2027.
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