Dec 1, 2020   SOURCE: BusinessWire

Energy Storage Market in India Outlook Update, H1 2020 Report - COVID-19 has Created a Series of Disruptions in the Supply Chain and Manufacturing of Li-ion Batteries - ResearchAndMarkets.com

The "Energy Storage Market in India Outlook Update H1 2020" report has been added to ResearchAndMarkets.com's offering.

Indian Energy Storage Market is expected to grow at a CAGR of 6.1% by 2026

China dominance in Li-ion battery manufacturing created a series of disruptions in the supply chain - Cascading effect on Indian energy storage projects in H1 2020

The intermittent nature of renewable energy and the limitations on its ability to ramp up and down based on demand lead to the waste of a certain amount of capacity. To counter this drawback, energy banking has been adopted in the past. Owing to strong push by Government & decline in the cost of storage technologies, CY 2019 witnessed a rise in the number of storage tenders.

However, the onset of COVID-19 has created a series of disruptions in the supply chain and manufacturing of Li-ion batteries impacting the Indian EVs and stationary energy storage market. Since, China is dominant in the Li-ion battery manufacturing and supply chain, the impact is expected to account for FY 2020-21.

This further, shall have a cascading effect on implementation of Energy Storage Enabled projects in India. Consequently, in H1 2020, Industry demanded clear policy on energy storage in new electricity law showing the roadmap involving investment incentives, improved storage technology, and realistic targets for developing storage capacity.

USPs

  • First hand sector knowledge and inputs
  • Primary research inputs from F2F interviews with domain experts
  • Experts insights and market reviews taken into consideration
  • Validated data and analysis
  • Opportunity mapping and market sizing
  • Germinates from minds that think fresh to evolve path finding guide for all stake holders through quality information and analysis
  • Free query handling and analyst support for three months from the date of report procurement

Key Investments

  • Large-scale adoption of energy storage is expected to attract investment over $3 billion in the next three years in India. Already, over 1 GWh of annual assembling capacity is being set up for converting imported li-ion cells into battery modules by various Indian companies.
  • Amara Raja Batteries has entered into an agreement with Gridtential Energy to collaborate on bipolar battery technology. Under the agreement, both the companies will assemble and test reference batteries using Amara Raja's active material and work on the improvements in their life cycle, energy density, efficiency, charging rates, and manufacturability.

Key Trends

  • As on May 2020, approximately 1888.55 MWh of Energy Storage Backed Renewable Energy Projects have been tendered in the country. Out of this 1888.55 MWh, 27.2 MWh of tenders have been cancelled in their earlier stages due to high costs.
  • 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 USD 300 Billion by 2030

Must Buy for

  • Battery Manufacturers for Energy Storage Systems
  • Electric Vehicle Value Chain Players
  • Battery Suppliers to Electric Vehicles
  • Utility Solar Power Project Developers
  • Roof-top Solar Power Project Developers
  • EPC Contractors for Solar & Wind Energy Projects
  • Smart Grid Service Providers
  • Power Distribution Utilities
  • Power Transmission Utilities
  • Telecom Industry Players
  • Diesel Generator Manufacturers
  • Government & Regulatory Bodies
  • Research Institutions/Bodies
  • Funding Bodies/Banks

Key Topics Covered:

  • This Half Yearly
  • Key Features
  • Leading Edge
  • Numbers to Learn
  • The Eighty - 20 of Industry - What Matters?
  • Key Signposts
  • Deployment Trends
  • Technology
  • Price Trends
  • Industry Activities & Corporate Strategies

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
  • BHEL
  • Larsen & Tourbo
  • Sterling & Wilson
  • Mahindra Susten

For more information about this report visit https://www.researchandmarkets.com/r/3pn7oz