Press Release

India Battery Energy Storage System (BESS) Market to Reach USD 32 Billion by 2030 Due to a Steady CAGR of Around 27%

The India Battery Energy Storage System (BESS) Market size was valued at around USD 7.8 billion in 2024 and is projected to reach USD 32 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 27% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. This growth is attributed to various factors. The increasing integration of renewable energy sources is boosting the market demand. Also, various supportive government initiatives like the National Energy Storage Mission have become the benefactor of growth. Moreover, the adoption of these systems is crucial for the enhancement of grid stability and the management of energy demand & supply. This further helps in the reduction of carbon emissions. Various opportunities are presented by the market. The increasing need for eco-friendly energy storage solutions is a major requirement for the Indian markets. Also, there is a high demand for reliable power supply in rural and remote areas with needs to be addressed creating a greater need for the India Battery Storage System Market. Various new technological advancements and the penetration of EVs in the market are further providing lucrative opportunities for market growth.

Some factors can drastically affect the growing market. There is a heavy initial cost of capital that is required for widespread adoption. The significant investment in the installation and management of these systems hinders growth in many underserved and rural regions. Additionally, the need for sustainable and environmentally friendly energy storage solutions poses a challenge, as the disposal of batteries and sourcing of raw materials have environmental implications. Even with all these factors, India continues to pursue its goals of expanding renewable energy capacity and achieving sustainability, the BESS market is poised to play a pivotal role in establishing the country as a potential leader in the global energy storage sector, further states the research report, “India Battery Energy Storage System (BESS) Market Analysis, 2025.”

Segmentation Analysis

Lithium-ion Battery is the Most Preferred by the End-Users

Based on type, the market is further bifurcated into Lithium-Ion Battery, Lead Acid Battery, Flow Battery, and Others. Out of them, the Lithium-Ion Battery dominates the India Battery Energy Storage System (BESS) Market. It holds around 63% of the total market value.  The market domination is due to their longer lifespan which helps in fewer replacements. Also, their efficiency ensures high storage & better usage of energy.

Moreover, the excess production capacity has reduced the manufacturing cost which makes them more accessible & affordable, making them the preferred choice of both manufacturers & consumers.  Furthermore, the supportive government policies and incentives to support renewable energy market growth are further leading to the extensive adoption of these batteries. This demand is also increased by the craze of EVs in the Indian market. Furthermore, lithium-ion batteries play a crucial role in the reduction of carbon emissions and help in promoting sustainable energy which is one of the major objectives of the government.

Large Scale (Greater than 1MW) Segment Holds the Largest Market Share

Based on Capacity the Large Scale (Greater Than 1MW) leads the India Battery Energy Storage System (BESS) Market with a share of around 74%. This domination is due to their extreme importance in facilitating the integration of renewable energy sources and the enhancement of grid stability. Their demand is intensively greater due to the potential of storing high-capacity energy in vast amounts. This helps in the efficient management of energy during peak usage hours. Also, the supportive government policies that support the development of the renewable energy market are further leading to the adoption of these large-scale battery storage systems. The market is set for prominent growth with sustainability goals and carbon emission reduction missions with the use of these large-scale battery storage systems.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Exide Industries Ltd., Delta Electronics, Inc., HBL Power Systems, Eveready Industries India, ABB India, Honeywell Automation India Limited (HAIL), Amara Raja Group, Ampere Hour Energy, Baud Resources Nunam, Luminous, AES Corporation, Toshiba Corporation, Rays Power Infra, Statcon Energiaa, Vyomaa Energy, Adiabatic Technologies, Panasonic Corporation, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the nation?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?