The Battery Market in India, 2019-2030 - Government of India Plans to Add 100GW of Solar Capacity in the Country by 2022

DUBLIN, Nov. 28, 2019 /PRNewswire/ -- The "Battery Market in India 2019" report has been added to ResearchAndMarkets.com's offering.

https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

With growing solar PV installations and further gaining up in renewable power capacity additions clubbed with enticing business for electric vehicles in India, the rationale behind the battery energy storage systems (BESS) is certain to embellish and gather momentum in the country. The storage market is already making sustained gains and is expected to flourish with near term market size of close USD 160 Billion and grow further to USD300 Billion by 2030.

Interestingly this entire energy storage market shall see BESS being the largest contributor in terms of share of above 50% globally. This shall be no different in India either and shall not be a surprise that it might stand scaled up to 70-75% in the country. Having said that with India being still in the nascent phase for the BESS there are certain push elements desired for the market gain momentum and unwind its entire market potential in the country for there are terrific benefits for its application. Because of the positives of BESS, recently Tata Power commissioned 10 MW grid-scale energy storage system which is the largest BESS project in South Asia, signifying the growing market potential of energy storage in India.

With electric vehicles market bursting up the scene coupled with increasing solar PV installations in the country business case for BESS does call for a deep dive to project opportunities for different value chain players likely to be engaged within the segment. America's energy firm AES Corp. expects USD 50 Billion opportunities in Indian energy storage market which shows companies are conducting studies for assessing opportunity scale which is a promising sign for Indian battery market.

Business Case for Battery Market in India

    --  The government of India plans to add 100 GW of solar capacity in the
        country by 2022 needs storage for making large scale solar power
        installations completely grid interactive.
    --  40 GW of roof-top installations to be achieved until 2022 demands for
        small-scale solar PV installations be utilized round the clock.
    --  High adaptability of electric vehicles projected in India and changing
        dynamics of the transportation sector in the country with government
        planning to provide rebates of up to INR 2.5 Lakh, bringing EV under the
        umbrella of priority sector lending and lowering interest rates on loans
        will help push battery market in India.
    --  Rising electricity demand in India with installed capacity likely to
        cross 600 GW by 2030 calls for better demand response which BESS can
        assure.
    --  Falling trajectory of battery prices globally and further fall expected
        in near term helping cost economics of adaptation of BESS in India.
    --  AES America's energy firm, sees USD 50 billion opportunities in Indian
        energy storage market.

Key Highlights

    --  Solar PV Pairing Opportunity for both off-grid and utility scale with
        battery energy storage systems in India & outlook till 2024
    --  Best suited location identification for integration of BESS in
        small-scale off-grid installations in India - Best fit regional analysis
        D2I Model feed
    --  Opportunity Sizing for BESS in solar roof-top projects in India with
        outlook till 2024
    --  Financial Attractiveness Index for both small & large scale grid
        integration of BESS in India - Regional Track from D2I Model
    --  Opportunity track for Industrial peak shaving & outlook till 2024 for
        large consumers
    --  Opportunity for power distribution utilities in deferring the network
        embellishments through adapting to BESS with outlook till 2024 - Map for
        region-based utilities through D2I Model feed
    --  Opportunity for power transmission utilities in deferring the network
        embellishments through adapting to BESS with outlook till 2024 - Map for
        region-based utilities through D2I Model feed
    --  Battery Market Product Outlook in India as per Lithium-Ion, Flow Battery
        & VRBs etc till 2024
    --  Application-based opportunity track for BESS market in India till 2024
        with specific sub-segment opportunity bundling for telecom industry and
        electric vehicles market in India
    --  Company Benchmarks for products, services, margins, financial
        performance for top BESS providers in India

Report Insights

    --  Identification of right market strategy among capacity market & storage
        market in India.
    --  Battery Energy Storage Opportunity Matrix for Small Scale Adaptability
        in India - Regional Estimates.
    --  Battery Energy Storage Opportunity Matrix for Off-Grid Installations in
        the country factoring solar roof-top business case for domestic
        consumers.
    --  Financial Attractive Indexation for both Small & Large Scale BESS
        adaptability in India.
    --  Region wise BESS opportunity for large scale grid integration via
        comprehensive D2I track.
    --  Complete BESS Market outlook in India till 2024 with competition
        landscape, value chain opportunities and regulatory variance.
    --  BESS Market Product Outlook till 2024 in terms of Li-Ion Battery, Flow
        Battery VRBs etc.
    --  Complete market sizing and opportunity outlook till 2024 for different
        applications in India like Electric Vehicles Adaptability, renewable
        energy integration, uninterrupted power supply to industrial power
        consumers and diesel generator replacement opportunity for the telecom
        industry in India.
    --  Company Profiles of all leading players in India & their business plan,
        battery product benchmarking, financial performance & product portfolio
        track with strategic initiative feed.
    --  BESS Market Orientation in India with Outlook till 2024 for Utility
        application (conventional power generation, grid operation and
        services), Direct Consumer application (UPS for Large Industrial
        Consumers), Renewable Energy Integration, etc.
    --  Management & Control for BESS in India with Barrier & Growth Drivers in
        the country till 2024.

Companies Mentioned

    --  General Electric
    --  Exide Technologies
    --  Amaraja Group
    --  Hitachi Limited
    --  Samsung SDI
    --  AES Storage Systems
    --  Luminous Power Technology Systems
    --  HBL Power Systems
    --  Su-Kam Power Systems
    --  Base Corporation
    --  Okaya Power Limited
    --  True Power International Limited
    --  Southern Batteries Limited
    --  Green Vision Tech Private Limited
    --  Evolute Solution Limited

For more information about this report visit https://www.researchandmarkets.com/r/8gbmvw

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

View original content:http://www.prnewswire.com/news-releases/the-battery-market-in-india-2019-2030---government-of-india-plans-to-add-100gw-of-solar-capacity-in-the-country-by-2022-300966596.html

SOURCE Research and Markets