The Indian electric battery market is mainly driven by the increase in the adoption of the electric battery in electric vehicles. The rise in the demand for fuel-efficient, high-performance, & low-emission vehicles, and stringent government rules & regulations toward vehicle emission is a major factor propelling the Indian electric battery market.
The rising adoption of analytical applications and surging demand for energy-efficient servers in the data centers and big organizations are the major factors boosting the white box server market growth. Analytical applications require continuous operations of virtualization and physical servers in data centers, which in turn, boost their adoption.
According to a survey by the India Energy Storage Alliance, the EV industry in India is expected to grow at a CAGR of 36% until 2026. Additionally, the EV battery market is expected to grow at a CAGR of 30% during the same time period. The Indian electric commercial vehicles market is mainly driven by the increasing government initiatives to achieve zero carbon emissions.
The COVID-19 pandemic in India has increased the demand for its diagnosis in the country, which in turn, is anticipated to drive the growth of the Indian COVID-19 diagnostics market. In India, the COVID-19 cases initially peaked during April-May 2020 and in the second wave, more cases have been observed in the country that was more than the first wave.
India is among the leading producer and suppliers of vaccines globally. Vaccines are chemical preparations that include immunization to a variety of diseases. They are made up of an agent that is similar to a disease-causing pathogen.
Consumer appliance is one of the fastest-growing industries in India. It is expected to become the fifth largest in the world by 2025. The consumer appliance has various categories including air solution, entertainment, laundry and cleanliness, connectivity, water solutions, kitchen appliances, grooming accessories, wearables, and other consumer appliances.
India is the second most populated country across the globe and the seventh-largest country in terms of GDP. As per International Monetary Fund, the GDP of India in 2017 was $2.8 trillion. It is the third-largest economy of Asia-Pacific after China and Japan.
Plastic and plastic-based products have grown into an essential across the globe. The Indian plastics industry started in 1957 with the production of polystyrene.
The electric vehicle industry in India is growing at a faster rate. Electric mobility will contribute to balancing energy demand, energy storage, and environmental sustainability. Unlike internal combustion engines (ICE) vehicles which produce a high amount of greenhouse gases into the environment, EVs produce zero carbon emission.
India has observed a spike in demand for the refrigerator in the last few years. The refrigerator industry in India is most widely dispersing among home appliances. According to the Bureau of Energy Efficiency that is established to monitor the energy conservation act in India had laid down certain conditions for every refrigerator by awarding an energy efficiency star rating.
India is one of the world’s largest consumers of tea with approximately 70-80% of the tea produced consumed by the domestic market. The tea industry in India is tremendously growing attributed to strong geographical indications, heavy investment in tea processing units, continuous innovation, and market expansion.
India’s nutraceutical industry is expected to grow at a 10.3% growth rate during 2020-2026. The key factors that accelerate the growth of the market in the country are rising per capita income, awareness related to health, high prevalence of chronic diseases, and easy availability of nutraceuticals.
Consumer appliances are one of the fastest-growing industries in India. The air conditioning (AC) industry is expected to gain huge growth in the Indian market. Hot climatic conditions and increasing per capita income are some of the key aspects that are contributing to the growth of the AC industry in India.
Diabetes has been a major epidemic, globally. The adult diabetic population was 463 million in 2019 with the prevalence rate reaching 8.5%, as per International Diabetes Federation (IDF). Over 4.2 million mortalities occurred due to diabetes, globally. India’s population is more than 1.3 billion that is estimated to be around 17.7% of the global population in 2019 which is increasing every year.
India has huge potential for the development of its IoT industry. According to the India Brand Equity Foundation, in hyper-connected country India, IoT has the potential to reach an estimated 2 billion connections, unlocking revenues of $11.1 billion by 2022.
Cardiovascular diseases (CVDs) are amongst the fatal diseases across the globe, accounting for over 25% of the total mortalities in India every year. The Harvard School of Public Health (HSPH) and the World Economic Forum (WEF) revealed that between 2012 and 2030, the total economic burden of non-communicable diseases in India is estimated to reach $1.7 trillion (INR 126 lakh crore).
Artificial Intelligence (AI) is poised to transform the world, with integration of intelligent machines allowing high-level cognitive processes, such as learning, thinking, perceiving, problem solving and decision making.
Healthcare sector is a key contributor to the growth of the Indian economy, regarding both employment and revenue. A medical device is any apparatus, appliance, or instrument required for the diagnosis, prevention, alleviation of diseases or for any other wellness purpose.
India has huge potential for the development of its contract manufacturing industry. Huge domestic demand finished goods from a growing population, growing investment in the manufacturing sector, initiatives such as ‘Make in India’ that aims to make India a global manufacturing hub, and rising working population are the key factors that are offering robust growth to the contract manufacturing industry in India.
The growth of the wind energy industry in India is enormous and can be aptly used to mitigate the challenges relating to electricity demands, greenhouse gas emission, and depleting non-renewable resources. According to the Global Wind Energy Council, India has the second-largest wind market in Asia after China and fourth amongst the global cumulative installed countries after the US and Germany.
India maintained its tag of ‘one of the fastest growing consumer markets’ across the globe, turning from an unorganized informal economy to an organized retail market in major Indian cities and tier-II towns in the country. The personal care industry of India is one of the fastest growing consumer products sectors in the country with a strong potential growth for the US-based companies.
The biotechnology industry is recognized as one of the key drivers for India’s economy targeting $5 Trillion by 2024. India is among the top 12 destinations for biotechnology across the globe, with approximately a 3% share in the global biotechnology industry.
Basic chemicals and their related products (paints, varnishes, glass, petrochemicals, fertilizers, perfumes, toiletries, pharmaceuticals, and others) constitute a considerable part of the Indian economy.
India has the fifth largest solar power industry, globally. As per India Brand Equity Foundation (IBEF), in 2019, India installed around 7.3 GW capacity of solar power plants across the country, establishing its position as the third-largest solar market in the world.
As per Invest India, the Indian banking industry comprises 27 public sector banks, 21 private sector banks, 49 foreign banks, and 56 regional rural banks. Along with these, the country consists of 1,562 urban cooperative banks and 94,384 rural cooperative banks.
Blockchain is one of the powerful innovations that has an immense potential to impact the Indian economy by streamlining process, enhancing efficiency, and offering privacy protection. It has an aptitude of revolutionizing interactions among citizens, businesses, and governments, in a manner that was unfathomable a decade ago.
According to the India Brand Equity Foundation, India is anticipated to become the third-largest construction market across the globe by 2022. For this, the country will create demand for nearly $777.73 billion investment in infrastructure development by 2022.
Indian pharmaceutical industry is gaining momentum owing to significant contributions from generic brands, a wide range of API manufacturers, and robust demand for API post-COVID-9 pandemic. India is the largest provider of generic drugs around the globe.
India with an established domestic pharmaceutical industry is among the leading global producers of cost-effective generic medicines and vaccines. The pharmaceutical industry in India produces a range of bulk drugs that account for roughly one-fifth of the industry output.
The BFSI sector of India is historically regarded as one of the most stable systems across the globe, even with global upheavals, as quoted by the Invest India. The Government of India is continuously striving in the promotion of financial annexation in the banking sector through initiatives that are targeted primarily to bring the India’s underbanked population under the banking array.
India became the fourth largest auto market with sales increasing 8.3% year-on-year to 3.99 million units in 2018. It was the seventh-largest manufacturer of commercial vehicles in 2018. India is also a prominent auto exporter and has strong export growth opportunities for the near future.
Energy and Power industry is the backbone of the industrial world, supplying essential energy to industrial, manufacturing, commercial, and residential sectors. The growth of the energy and power industry is driven by the expansion of power bases to meet growing demand from electricity-starved regions.
The Aviation industry is among the major contributors to India’s GDP. In India, the GDP contribution of the aviation sector is nearly $72 billion. In terms of aircraft passengers, India is the fifth-largest market (Domestic and International).
Agriculture is the primary source of livelihood for more than 50% of people in India. The food industry in India is poised for huge growth and is increasing its contribution to world food trade each year owing to its immense potential for value addition, particularly within the food processing industry.
The chemical sector has significant growth in India due to various factors such as structural benefits, high domestic consumption, availability of diversified products, and promising export potential. Basic chemicals and their related products such as petrochemicals, fertilizers, paints, varnishes, glass, perfumes, toiletries, pharmaceuticals, and others contribute a significant part in the Indian economy.
Technological up-gradation and innovation in ICT Industry has increased dramatically. ICT industry can be broadly viewed under two sectors, Information Technology and Communication. In India, the growth of both these sectors is very significant in the past two decades.
Healthcare has become one of the largest sectors in India in terms of employment as well as revenue. The healthcare industry includes medical device manufacturers, medical tourism, telemedicine, clinical trials, outsourcing industry, and health insurance providers.