India Battery Energy Storage System (BESS) Market Research Report: Forecast (2025-2030)

India Battery Energy Storage System (BESS) Market - By Type (Lithium-Ion Battery Lead Acid Battery Flow Battery Others) By Capacity (Small Scale (Less than 1MW) Large Scale (Greate......r than 1 MW)) By Ownership (Customer-Owned Third-Party Owned Utility Owned) By Connectivity (Off-Grid On-Grid) By Application (Residential Commercial Utility Others) and Others Read more

  • Energy
  • Jan 2025
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  • PDF, Excel, PPT

Market Insights & Analysis: India Battery Energy Storage System (BESS) Market (2025-2030):

The India Battery Energy Storage System (BESS) Market size was valued at around USD 250 million in 2024 and is expected to reach USD 1.2 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. Various factors are attributed to the growing market. Government initiatives and policies are crucial for the growth of the BESS market in India. Some of the interventions encouraged by the National Framework for Promoting Energy Storage Systems include the legal status for energy storage systems as well as energy storage obligations, and waiver of inter-state transmission charges.

Report Coverage Details
  Historical Years   2020-23
  Base Years
  2024
  Forecast Years
  2025-30
  Market Value in 2024   USD 250 Million
  Market Value in 2030   USD 1.2 Billion
  CAGR (2025-30)   27%
  Top Key Players 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
  Key Report Highlights
  • Market Dimensions & Projections
  • Pricing Evaluation,
  • Recent Strategic Moves by Companies,
  • Primary Stakeholders,
  • Analysis of Import and Export Trends,
  • Competitive Landscape Assessment,
  • Emerging Opportunities,
  • Market Trends and Indicators

 

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Viability Gap Funding would support the performance of 4,000 MWh BESS installation projects for the period 2030-31, with the support worth a maximum of 40% of the capital cost of the installation project. Each one brings along its unique and individual specifications, such as the National Solar Mission and National Mission for Enhanced Energy Efficiency, where prior are doing appreciably large work in pushing non-fossil fuel-based energy resources. One such target outlined by the government, contributing further credence to the efforts on BESS to meet the targets, is extracting resources out of non-fossil fuel energy such that, out of cumulative installed energy capacity by 2030, 50% comes from non-fossil fuel sources. These interventions, along with incentives like budgetary support and regulatory measures, shall provide an effective enabling environment for the development and deployment of BESS initiatives within India.

Also, the market is seeing considerable growth due to declining battery prices. Battery prices have declined dramatically throughout the past decade, making BESS projects feasible in economic terms. In 2023, battery prices reached their lowest point due to moderation in raw material prices and increased production. For instance, tariffs for BESS projects in the current Gujarat utilities tender amounted to USD 5,448/MW/month, down from the USD 13,164/MW/month price in the first SECI tender in 2022. The drop-off makes BESS projects more competitive, accelerating their deployment in renewable energy intermittency management and grid stability improvements. As battery prices fall further, the market growth is only expected to intensify.

Furthermore, Grid stability is also one of the key factors that is deriving the market growth, The BESS technology helps in the balancing of electricity supply and demand, ensuring a stable and reliable power grid system. For instance, India's first commercial utility-scale BESS with a capacity of 20MW/40 MWh was set up in Delhi, which provided four hours of energy support daily for enhancing grid stability. The other aspect supporting grid stability is the government support for renewable energy projects along with battery storage by introducing a policy on battery storage worth USD 451 million which would provide 40% funding to battery storage projects that have a build capacity of at least 4,000MWh. These initiatives are expected to help in managing the variability and intermittency of renewable energy sources and improve power quality as a whole.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. India Battery Energy Storage System (BESS) Market Trends & Deployments
  5. India Battery Energy Storage System (BESS) Market Dynamics
    1. Growth Drivers
    2. Challenges
  6. India Battery Energy Storage System (BESS) Market Opportunities & Hotspots
  7. India Battery Energy Storage System (BESS) Market Value Chain Analysis
  8. India Battery Energy Storage System (BESS) Market Regulations and Policy
  9. India Battery Energy Storage System (BESS) Market Outlook, 2020-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Type
        1. Lithium-Ion Battery- Market Size & Forecast 2020-2030, USD Million
        2. Lead Acid Battery- Market Size & Forecast 2020-2030, USD Million
        3. Flow Battery- Market Size & Forecast 2020-2030, USD Million
        4. Others
      2. By Capacity
        1. Small Scale (Less than 1MW)- Market Size & Forecast 2020-2030, USD Million
        2. Large Scale (Greater than 1 MW)- Market Size & Forecast 2020-2030, USD Million
      3. By Ownership
        1. Customer-Owned- Market Size & Forecast 2020-2030, USD Million
        2. Third-Party Owned- Market Size & Forecast 2020-2030, USD Million
        3. Utility Owned- Market Size & Forecast 2020-2030, USD Million
      4. By Connectivity
        1. Off-Grid- Market Size & Forecast 2020-2030, USD Million
        2. On-Grid- Market Size & Forecast 2020-2030, USD Million
      5. By Application
        1. Residential- Market Size & Forecast 2020-2030, USD Million
        2. Commercial- Market Size & Forecast 2020-2030, USD Million
        3. Utility- Market Size & Forecast 2020-2030, USD Million
        4. Others
      6. By Region
        1. North
        2. South
        3. East
        4. West
      7. By Company
        1. Competition Characteristics
        2. Market Share and Analysis
  10. India Residential Battery Energy Storage System (BESS) Market Outlook, 2020-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Type- Market Size & Forecast 2020-2030, USD Million
      2. By Capacity-Market Size & Forecast 2020-2030, USD Million
      3. By Ownership- Market Size & Forecast 2020-2030, USD Million
      4. By Connectivity -Market Size & Forecast 2020-2030, USD Million
      5. By Region- Market Size & Forecast 2020-2030, USD Million
  11. India Commercial Battery Energy Storage System (BESS) Market Outlook, 2020-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Type- Market Size & Forecast 2020-2030, USD Million
      2. By Capacity-Market Size & Forecast 2020-2030, USD Million
      3. By Ownership- Market Size & Forecast 2020-2030, USD Million
      4. By Connectivity -Market Size & Forecast 2020-2030, USD Million
      5. By Region- Market Size & Forecast 2020-2030, USD Million
  12. India Utility Battery Energy Storage System (BESS) Market Outlook, 2020-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Type- Market Size & Forecast 2020-2030, USD Million
      2. By Capacity-Market Size & Forecast 2020-2030, USD Million
      3. By Ownership- Market Size & Forecast 2020-2030, USD Million
      4. By Connectivity -Market Size & Forecast 2020-2030, USD Million
      5. By Region- Market Size & Forecast 2020-2030, USD Million
  13. India Battery Energy Storage System (BESS) Market Strategic Imperatives for Growth & Success
  14. Competition Outlook
    1. Company Profiles
      1. Exide Industries Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      2. Delta Electronics, Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      3. HBL Power Systems
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      4. Eveready Industries India
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      5. ABB India
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      6. Honeywell Automation India Limited (HAIL)
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      7. Amara Raja Group
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      8. Ampere Hour Energy
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      9. Baud Resources Nunam
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      10. Luminous
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      11. AES Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      12. Toshiba Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      13. Rays Power Infra
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      14. Statcon Energiaa
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      15. Vyomaa Energy
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      16. Adiabatic Technologies
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      17. Panasonic Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Deployments
        5. Financial Details
        6. Others
      18. Others
  15. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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