India Lithium Market Size, Share & Industry Analysis, 2033

India Lithium Market Size, Share, Trends and Forecast by Product, Application, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A33188

India Lithium Market Overview:

The India lithium market size reached USD 0.88 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 4.92 Billion by 2033, exhibiting a growth rate (CAGR) of 21.12% during 2025-2033. The surging demand for electric vehicles (EVs), government incentives under FAME II, increasing energy storage needs for renewable integration, rising smartphone and electronics usage, strategic investments in domestic lithium refining, and international sourcing partnerships are propelling the market growth.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 0.88 Billion
Market Forecast in 2033	USD 4.92 Billion
Market Growth Rate 2025-2033	21.12%

India Lithium Market Trends:

Surge in EV Adoption and Energy Storage Demand

India is experiencing a rapid surge in EV adoption, fueled by favorable government initiatives, growing environmental awareness, and technological advancements. This shift is driving a substantial increase in demand for lithium-ion batteries, which are vital for both EVs and large-scale energy storage systems. In 2023, India’s EV battery capacity demand stood at approximately 4 gigawatt-hours (GWh), and this is projected to soar to nearly 139 GWh by 2035, underscoring the exponential growth of the EV market. Simultaneously, the country’s lithium-ion battery production capacity, which was around 18 GWh in 2023, is expected to expand to nearly 150 GWh by 2030, backed by significant investments in domestic manufacturing infrastructure. The Indian government’s push for clean energy through policies like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme is a key catalyst, offering financial incentives and support for EV adoption. Moreover, the rising need for efficient energy storage to support renewable power integration is further propelling the demand for lithium-based batteries across sectors.

India Lithium Market size

Strategic Initiatives for Domestic Lithium Sourcing and Refining

Recognizing lithium’s strategic role in its clean energy and industrial future, India is taking decisive steps to secure and develop domestic and global sources of this critical mineral. The government has identified lithium as one of 30 critical minerals essential for energy transition and economic growth. A major milestone was the discovery of a substantial lithium reserve in 2023, estimated at 5.9 million metric tons in the Reasi district of Jammu and Kashmir, positioning India among nations with significant lithium resources and offering a potential reduction in import dependence. Simultaneously, Indian state-owned enterprises are pursuing international collaborations to strengthen supply security. Entities such as Khanij Bidesh India Ltd (KABIL), Coal India, Oil India, and ONGC Videsh are in talks to acquire a 20% stake in SQM’s lithium projects in Western Australia, a deal valued at approximately USD 600 million. Complementing these efforts, the Indian government has approved a USD 1.88 billion investment to advance critical mineral exploration, research, and the development of domestic lithium refining and processing infrastructure, demonstrating a strong commitment to building a resilient and self-sufficient lithium supply chain.

India Lithium Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on product and application.

Product Insights:

Carbonates
Hydroxide
Others

The report has provided a detailed breakup and analysis of the market based on the product. This includes carbonates, hydroxide, and others.

Application Insights:

Automotive
Consumer Electronics
Grid Storage
Glass and Ceramics
Others

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes automotive, consumer electronics, grid storage, glass and ceramics, and others.

Regional Insights:

North India
South India
East India
West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Lithium Market News:

March 2025: Lohum Corporation launched India's first battery-grade lithium refinery, capable of producing 1,000 metric tons annually. The company is expanding its capabilities in the production of Cathode Active Materials (CAM), essential components for large-scale lithium-ion battery production.
January 2025: The Maharashtra government and Vardhaan Lithium (I) Pvt. Ltd partnered to launch a lithium refinery project in Nagpur. The project, backed by an investment of INR 42,532 crore, spans 500 acres and aims to address India's urgent need to reduce dependence on lithium imports by creating a robust domestic supply chain.
January 2024: Khanij Bidesh India Ltd (KABIL) signed a USD 24 million agreement with Argentina's state-run enterprise to explore and develop five lithium brine blocks covering 15,703 hectares in Catamarca province. This marks India's inaugural lithium exploration and mining venture abroad, aiming to secure essential resources for its energy transition.

India Lithium Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Product Application Region
Products Covered	Carbonates, Hydroxide, Others
Applications Covered	Automotive, Consumer Electronics, Grid Storage, Glass and Ceramics, Others
Regions Covered	North India, South India, East India, West India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the India lithium market performed so far and how will it perform in the coming years?
What is the breakup of the India lithium market on the basis of product?
What is the breakup of the India lithium market on the basis of application?
What are the various stages in the value chain of the India lithium market?
What are the key driving factors and challenges in the India lithium market?
What is the structure of the India lithium market and who are the key players?
What is the degree of competition in the India lithium market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India lithium market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India lithium market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India lithium industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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