PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1282915
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1282915
India Battery Energy Storage Systems Market - By Battery Type ; By Connection Type ; By Application ; By End User ; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2029
India Battery Energy Storage Systems (BESS) Market Size Set to Expand at Significant CAGR of 11% During 2023-2029
India battery energy storage systems (BESS) market is rapidly growing due to the increasing popularity and demand for energy from renewable sources, such as solar and wind power, and the need to store and utilize renewable energy efficiently from these sources.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the India battery energy storage systems (BESS) market size to grow at a CAGR of 11.05% during the forecast period between 2023 and 2029. India battery energy storage systems (BESS) market is expanding significantly and showing changing trends. The implementation of BESS in India is being driven by the rise in demand for renewable energy integration, grid stability, and power quality enhancement. The focus on renewable energy by the government, along with favorable regulations and incentives, is promoting the market expansion. To improve the use of renewable energy and address intermittent concerns, battery storage is increasingly being integrated with solar and wind systems. The proliferation of electric vehicles (EVs) is also opening up the potential for BESS implementation in applications including vehicle-to-grid communication and charging infrastructure. Overall, during the forecast period, the India battery energy storage systems (BESS) market is expected to grow significantly. However, high upfront costs associated with installing and maintaining the storage infrastructure may limit the growth of the India battery energy storage systems (BESS) market during the period in analysis.
India Battery Energy Storage Systems (BESS) Market - Overview:
Modern electrical systems called Battery Energy Storage Systems (BESS) store electrical energy in rechargeable batteries for future use. In controlling the varying supply and demand of electricity in power grids, these systems are essential. When demand is low or renewable energy production is high, BESS can store extra electricity and release it when supply is insufficient to meet demand or when renewable energy production is low. They can quickly adapt to changes in the grid and offer services for frequency regulation and grid stability. The integration of renewable energy sources can be optimized with the help of scalable, environmentally friendly battery energy storage systems, which can improve grid dependability and resilience.
Impact of COVID-19 on India Battery Energy Storage Systems (BESS) Market
The COVID-19 pandemic significantly impacted the India battery energy storage systems (BESS) market. On the one hand, the lockdown measures and disruptions in supply chains caused delays in project execution and installations, leading to a temporary slowdown in the market. On the other hand, the pandemic highlighted the importance of resilient and reliable energy infrastructure, increasing the focus on energy storage solutions. As the country aims to strengthen its renewable energy sector and improve grid stability, BESS has emerged as a key enabler. The market witnessed a gradual recovery as restrictions eased, with renewed interest from both government and private entities in deploying battery storage systems for energy management and grid integration.
India Battery Energy Storage Systems (BESS) Market - By Connection Type:
On the basis of connection type, India battery energy storage systems (BESS) market is divided into On Grid and Off Grid segments. The on-grid segment dominates the battery energy storage system market. As surplus energy is sent to the grid and can be used later on a metered basis, on-grid connections have lower upfront costs than off-grid systems. The reduction in energy bills for clients who rely on the utility grid for electricity is predicted to drive the segment's growth. Demand for grid modernization from renewable energy sources, as well as new energy regulatory rules, are driving the expansion of the on-grid battery energy storage system market for utilities.
Competitive Landscape:
India battery energy storage systems (BESS) market is fiercely competitive. Major companies in the market include Samsung SDI, BYD Company Limited, Contemporary Amperex Technology Co. Limited, Exide Technologies, General Electric, Enersys, Nissan, AES Energy Storage, Hoppecke Batteries Inc., and Tesla. Companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in India battery energy storage systems (BESS) market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Battery Energy Storage Systems (BESS) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Battery Energy Storage Systems (BESS) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Battery Energy Storage Systems Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Increasing Demand for Grid Energy Storage Systems Owing to Grid Modernization
- 3.2.1.2. Advancement in Technologies
- 3.2.2. Restraints
- 3.2.2.1. High Capital Expenditure required for Installing Battery Storage Systems
- 3.2.3. Opportunity
- 3.2.3.1. Surge in the Number of Rural Electrification Projects
- 3.2.4. Challenges
- 3.2.4.1. Installing Complexities
- 3.2.1. Growth Drivers
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Battery Energy Storage Systems Market Overview
- 4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Battery Type
- 4.2.1.1. Lithium Ion
- 4.2.1.2. Lead Acid
- 4.2.1.3. Flow Batteries
- 4.2.1.4. Others
- 4.2.2. By Connection Type
- 4.2.2.1. On-Grid
- 4.2.2.2. Off Grid
- 4.2.3. By Application
- 4.2.3.1. Front of the Meter
- 4.2.3.2. Behind the Meter
- 4.2.4. By End User
- 4.2.4.1. Commercial
- 4.2.4.2. Industrial
- 4.2.4.3. residential
- 4.2.5. By Region
- 4.2.5.1. North India
- 4.2.5.2. South India
- 4.2.5.3. East India
- 4.2.5.4. West India
- 4.2.1. By Battery Type
5. North India Battery Energy Storage Systems Market
- 5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Battery Type
- 5.2.2. By Connection Type
- 5.2.3. By Application
- 5.2.4. By End User
6. South India Battery Energy Storage Systems Market
- 6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Battery Type
- 6.2.2. By Connection Type
- 6.2.3. By Application
- 6.2.4. By End User
7. East India Battery Energy Storage Systems Market
- 7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Battery Type
- 7.2.2. By Connection Type
- 7.2.3. By Application
- 7.2.4. By End User
8. West India Battery Energy Storage Systems Market
- 8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Battery Type
- 8.2.2. By Connection Type
- 8.2.3. By Application
- 8.2.4. By End User
9. Competitive Landscape
- 9.1. List of Key Players and Their Offerings
- 9.2. India Battery Energy Storage Systems Company Market Share Analysis, 2022
- 9.3. Competitive Benchmarking, By Operating Parameters
- 9.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Battery Energy Storage Systems Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 11.1. Samsung SDI
- 11.2. BYD Company Limited
- 11.3. Contemporary Amperex Technology Co. Limited
- 11.4. Exide Technologies
- 11.5. General Electric
- 11.6. Enersys
- 11.7. Nissan
- 11.8. AES Energy Storage
- 11.9. Hoppecke Batteries Inc.
- 11.10. Tesla
- 11.11. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
- 13.1. Qualitative Research
- 13.1.1. Primary & Secondary Research
- 13.2. Quantitative Research
- 13.3. Market Breakdown & Data Triangulation
- 13.3.1. Secondary Research
- 13.3.2. Primary Research
- 13.4. Breakdown of Primary Research Respondents, By Region
- 13.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List Of Figures
- Figure 1 India Battery Energy Storage Systems Segmentation
- Figure 2 India Battery Energy Storage Systems Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 India Battery Energy Storage Systems Market Size, By Value (USD Million), 2019-2029
- Figure 5 India Battery Energy Storage Systems Market Share, By Battery Type, By Value, 2019-2029
- Figure 6 India Battery Energy Storage Systems Market Share, By Connection Type, By Value, 2019-2029
- Figure 7 India Battery Energy Storage Systems Market Share, By Application, By Value, 2019-2029
- Figure 8 India Battery Energy Storage Systems Market Share, By End User, By Value, 2019-2029
- Figure 9 North India Battery Energy Storage Systems Market Size, By Value (USD Million), 2019-2029
- Figure 10 North India Battery Energy Storage Systems Market Share, By Battery Type, By Value, 2019-2029
- Figure 11 North India Battery Energy Storage Systems Market Share, By Connection Type, By Value, 2019-2029
- Figure 12 North India Battery Energy Storage Systems Market Share, By Application, By Value, 2019-2029
- Figure 13 North India Battery Energy Storage Systems Market Share, By End User, By Value, 2019-2029
- Figure 14 South India Battery Energy Storage Systems Market Size, By Value (USD Million), 2019-2029
- Figure 15 South India Battery Energy Storage Systems Market Share, By Battery Type, By Value, 2019-2029
- Figure 16 South India Battery Energy Storage Systems Market Share, By Connection Type, By Value, 2019-2029
- Figure 17 South India Battery Energy Storage Systems Market Share, By Application, By Value, 2019-2029
- Figure 18 South India Battery Energy Storage Systems Market Share, By End User, By Value, 2019-2029
- Figure 19 East India Battery Energy Storage Systems Market Size, By Value (USD Million), 2019-2029
- Figure 20 East India Battery Energy Storage Systems Market Share, By Battery Type, By Value, 2019-2029
- Figure 21 East India Battery Energy Storage Systems Market Share, By Connection Type, By Value, 2019-2029
- Figure 22 East India Battery Energy Storage Systems Market Share, By Application, By Value, 2019-2029
- Figure 23 East India Battery Energy Storage Systems Market Share, By End User, By Value, 2019-2029
- Figure 24 West India Battery Energy Storage Systems Market Size, By Value (USD Million), 2019-2029
- Figure 25 West India Battery Energy Storage Systems Market Share, By Battery Type, By Value, 2019-2029
- Figure 26 West India Battery Energy Storage Systems Market Share, By Connection Type, By Value, 2019-2029
- Figure 27 West India Battery Energy Storage Systems Market Share, By Application, By Value, 2019-2029
- Figure 28 West India Battery Energy Storage Systems Market Share, By End User, By Value, 2019-2029
List of Tables
- Table 1 India Battery Energy Storage Systems Market Size, By Value (USD Million), 2019-2029
- Table 2 India Battery Energy Storage Systems Market Size, By Battery Type, By Value, 2019-2029
- Table 3 India Battery Energy Storage Systems Market Size, By Connection Type, By Value, 2019-2029
- Table 4 India Battery Energy Storage Systems Market Size, By Application, By Value, 2019-2029
- Table 5 India Battery Energy Storage Systems Market Size, By End User, By Value, 2019-2029
- Table 6 North India Battery Energy Storage Systems Market Size, By Value (USD Million), 2019-2029
- Table 7 North India Battery Energy Storage Systems Market Size, By Battery Type, By Value, 2019-2029
- Table 8 North India Battery Energy Storage Systems Market Size, By Connection Type, By Value, 2019-2029
- Table 9 North India Battery Energy Storage Systems Market Size, By Application, By Value, 2019-2029
- Table 10 North India Battery Energy Storage Systems Market Size, By End User, By Value, 2019-2029
- Table 11 South India Battery Energy Storage Systems Market Size, By Value (USD Million), 2019-2029
- Table 12 South India Battery Energy Storage Systems Market Size, By Battery Type, By Value, 2019-2029
- Table 13 South India Battery Energy Storage Systems Market Size, By Connection Type, By Value, 2019-2029
- Table 14 South India Battery Energy Storage Systems Market Size, By Application, By Value, 2019-2029
- Table 15 South India Battery Energy Storage Systems Market Size, By End User, By Value, 2019-2029
- Table 16 East India Battery Energy Storage Systems Market Size, By Value (USD Million), 2019-2029
- Table 17 East India Battery Energy Storage Systems Market Size, By Battery Type, By Value, 2019-2029
- Table 18 East India Battery Energy Storage Systems Market Size, By Connection Type, By Value, 2019-2029
- Table 19 East India Battery Energy Storage Systems Market Size, By Application, By Value, 2019-2029
- Table 20 East India Battery Energy Storage Systems Market Size, By End User, By Value, 2019-2029
- Table 21 West India Battery Energy Storage Systems Market Size, By Value (USD Million), 2019-2029
- Table 22 West India Battery Energy Storage Systems Market Size, By Battery Type, By Value, 2019-2029
- Table 23 West India Battery Energy Storage Systems Market Size, By Connection Type, By Value, 2019-2029
- Table 24 West India Battery Energy Storage Systems Market Size, By Application, By Value, 2019-2029
- Table 25 West India Battery Energy Storage Systems Market Size, By End User, By Value, 2019-2029
- Table 26 Samsung SDI Company Overview
- Table 27 Samsung SDI Financial Overview
- Table 28 BYD Company Limited Company Overview
- Table 29 BYD Company Limited Financial Overview
- Table 30 Contemporary Amperex Technology Co. Limited Company Overview
- Table 31 Contemporary Amperex Technology Co. Limited Financial Overview
- Table 32 Exide Technologies Company Overview
- Table 33 Exide Technologies Financial Overview
- Table 34 General Electric Company Overview
- Table 35 General Electric Financial Overview
- Table 36 Enersys Company Overview
- Table 37 Enersys Financial Overview
- Table 38 Nissan Company Overview
- Table 39 Nissan Financial Overview
- Table 40 AES Energy Storage Company Overview
- Table 41 AES Energy Storage Financial Overview
- Table 42 Hoppecke Batteries Inc. Company Overview
- Table 43 Hoppecke Batteries Inc. Financial Overview
- Table 44 Tesla Company Overview
- Table 45 Tesla Financial Overview
