India Energy Storage Market Size & Share Analysis - Key Trends, Future Opportunities, Growth Strategies, and Forecasts (2026

Description

The India energy storage market is witnessing strong growth as the country accelerates renewable energy integration, grid modernization, and energy transition initiatives. The market is valued at USD 385.0 million in 2025 and is projected to reach USD 947.4 million by 2032, growing at a CAGR of 14% during the study period from 2019 to 2032. Rising deployment of renewable power, increasing need for grid stability, and growing demand for reliable power supply are driving sustained market expansion.

Energy storage solutions are becoming critical for balancing supply and demand, managing intermittency of renewable sources, and enhancing grid resilience. Adoption across utility-scale projects, commercial and industrial facilities, and emerging applications is strengthening market development. Policy support for clean energy, investments in grid-scale storage infrastructure, and technological advancements in storage systems are further reinforcing market momentum.

Karnataka represents the largest state-level market, supported by high renewable energy capacity, progressive clean energy policies, and early adoption of storage solutions, while Rajasthan is emerging as the fastest-growing state due to large-scale renewable energy projects, expanding grid infrastructure, and increasing focus on energy storage deployment. As India continues to advance its clean energy ambitions, the energy storage market is expected to maintain steady growth throughout the forecast period.

Key Insights

The India energy storage market is valued at USD 385.0 million in 2025 and is expected to reach USD 947.4 million by 2032, reflecting strong long-term growth driven by renewable energy integration.

The market is projected to grow at a CAGR of 14% during 2019-2032, supported by rising demand for grid stability and reliable power supply.

Increasing deployment of renewable energy sources is strengthening the need for efficient energy storage solutions.

Karnataka accounts for the largest share of the market, driven by high renewable penetration and early adoption of storage technologies.

Rajasthan is the fastest-growing state, supported by large-scale renewable projects and expanding grid infrastructure.

Growth in grid-scale and utility storage projects is increasing overall storage capacity deployment.

Advancements in energy storage technologies are improving efficiency, performance, and system reliability.

Government initiatives supporting clean energy and grid modernization are reinforcing long-term market growth.

Rising focus on energy security and power quality is influencing investment in storage solutions.

Continued investment in renewable energy integration, grid infrastructure, and storage technologies is expected to sustain long-term growth in the India energy storage market.

Product Code: 13846

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market Size Breakdown, by Type
- 1.4.2. Market Size Breakdown, by End Use
1.5. Market Data Reporting Unit
- 1.5.1. Revenue
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence Database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Industry Background
5.2. Market Dynamics
- 5.2.1. Trends
- 5.2.2. Drivers
- 5.2.3. Restraints/Challenges
- 5.2.4. Emerging Economies and Key Opportunities
- 5.2.5. Impact Analysis of Drivers/Restraints
5.3. Sociopolitical Impact
5.4. Porter's Five Forces Analysis
- 5.4.1. Bargaining Power of Buyers
- 5.4.2. Bargaining Power of Suppliers
- 5.4.3. Threat of New Entrants
- 5.4.4. Intensity of Rivalry
- 5.4.5. Threat of Substitutes
5.5. Lifecycle Analysis
5.6. Innovation and Technology Trends
5.7. Economic and Regulatory Impact
5.8. Market Entry Strategies

Chapter 6. Competitive Landscape

6.1. List of Market Players and their Offerings
6.2. Market Share of Key Players (2025)
6.3. Competitive Benchmarking of Key Players
6.4. Product Benchmarking of Key Players
6.5. Recent Strategic Developments by Key Players
6.6. Company Leadership Matrix

Chapter 7. Karnataka Market

7.1. Overview
7.2. Market Revenue, by Type (2019-2032)
7.3. Market Revenue, by End Use (2019-2032)
7.4. Market Revenue, by Country (2019-2032)

Chapter 8. Gujarat Market

8.1. Overview
8.2. Market Revenue, by Type (2019-2032)
8.3. Market Revenue, by End Use (2019-2032)
8.4. Market Revenue, by Country (2019-2032)

Chapter 9. Rajasthan Market

9.1. Overview
9.2. Market Revenue, by Type (2019-2032)
9.3. Market Revenue, by End Use (2019-2032)
9.4. Market Revenue, by Country (2019-2032)

Chapter 10. Maharashtra Market

10.1. Overview
10.2. Market Revenue, by Type (2019-2032)
10.3. Market Revenue, by End Use (2019-2032)
10.4. Market Revenue, by Country (2019-2032)

Chapter 11. Chhattisgarh Market

11.1. Overview
11.2. Market Revenue, by Type (2019-2032)
11.3. Market Revenue, by End Use (2019-2032)
11.4. Market Revenue, by Country (2019-2032)

Chapter 12. Tamil Nadu Market

12.1. Overview
12.2. Market Revenue, by Type (2019-2032)
12.3. Market Revenue, by End Use (2019-2032)
12.4. Market Revenue, by Country (2019-2032)

Chapter 13. Andhra Pradesh Market

13.1. Overview
13.2. Market Revenue, by Type (2019-2032)
13.3. Market Revenue, by End Use (2019-2032)
13.4. Market Revenue, by Country (2019-2032)

Chapter 14. Uttar Pradesh Market

14.1. Overview
14.2. Market Revenue, by Type (2019-2032)
14.3. Market Revenue, by End Use (2019-2032)
14.4. Market Revenue, by Country (2019-2032)

Chapter 15. Company Profiles

Chapter 16. Appendix

16.1. Sources and References
16.2. Related Reports

India Energy Storage Market Size & Share Analysis - Key Trends, Future Opportunities, Growth Strategies, and Forecasts (2026 - 2032)