New Delhi, July 24 -- India's demand for Advanced Chemistry Cells (ACC) will grow at a compound annual growth rate (CAGR) of 39 per cent between 2025 and 2030, according to a report by Nuvama.

Advanced Chemistry Cells (ACC) refer to next-generation rechargeable battery cells, including Lithium-ion (LFP, NMC, LMFP, NCA), Sodium-ion, Solid-state, and other advanced chemistries.

The report also noted that electric vehicle battery demand will expand at a CAGR of around 35 per cent during FY25-30. Simultaneously, the battery energy storage system (BESS) sector will witness a growth rate of 78 per cent CAGR over the same period.

"Today, lithium-ion accounts for more than 95% of global ACC demand," the report added.

The report highlighted th...