India Energy Storage Systems (ESS) Market Analysis 2033

India Energy Storage Systems (ESS) Market Size, Share, Trends and Forecast by Technology, Application, End User, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A29922

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India Energy Storage Systems (ESS) Market Size and Share:

The India energy storage systems (ESS) market size reached 8.33 GW in 2024. Looking forward, IMARC Group expects the market to reach 15.56 GW by 2033, exhibiting a growth rate (CAGR) of 7.20% during 2025-2033. The market is experiencing rapid expansion, influenced by escalating renewable energy integration, grid modernization, and elevating need for reliable power solutions. Advancements in battery technology, government incentives, and expanding industrial applications are further accelerating market expansion across various sectors.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	8.33 GW
Market Forecast in 2033	15.56 GW
Market Growth Rate (2025-2033)	7.20%

India Energy Storage Systems (ESS) Market Trends:

Increase in Adoption of Lithium-Ion Batteries for Energy Storage Systems

The increasing deployment of lithium-ion (Li-ion) batteries is a key trend shaping the India Energy Storage Systems (ESS) market. For instance, the demand for lithium-ion batteries during the FY2024 was approximately 15 GWh in India, mainly propelled by customer electronics and EVs sector. This demand is anticipated to elevate to 127 GWh by the year FY2030. Li-ion technology is favored for its high energy density, longer lifespan, and improved efficiency as compared to conventional lead-acid batteries. The declining cost of lithium-ion batteries, driven by advancements in manufacturing and supply chain optimization, is further accelerating their adoption in grid-scale and distributed energy storage applications. Additionally, government initiatives promoting battery energy storage solutions (BESS) for renewable integration and peak load management are fueling the demand. With the rising penetration of solar and wind power, the need for reliable energy storage to address intermittency issues is increasing. Furthermore, the growing emphasis on electric mobility and hybrid energy storage solutions is expanding the application of Li-ion batteries beyond grid support, making them a crucial component of India’s transition towards a sustainable energy ecosystem.

Increasing Investments in Renewable Energy-Integrated Storage Solutions

India’s push toward renewable energy expansion is driving significant investments in energy storage systems (ESS) to enhance grid stability and efficiency. With ambitious targets for solar and wind energy capacity, integrating ESS solutions is becoming essential for managing supply-demand fluctuations. For instance, as per industry reports, India reported to add around 3.4 GW of wind capacity and 24.5 GW of solar capacity in the year 2024, with solar energy accounting for 47% of the total renewable capacity in the country. Moreover, government policies, such as the National Energy Storage Mission, are promoting the deployment of storage technologies to support renewable energy grid integration and improve power reliability. Additionally, hybrid renewable energy projects incorporating battery storage are gaining traction, enabling round-the-clock clean energy supply. Large-scale investments from both public and private entities are fostering the development of advanced storage infrastructure, including pumped hydro storage and battery-based solutions. The emergence of energy storage as a service (ESaaS) is also encouraging industries and utilities to adopt flexible storage models. As India advances toward its renewable energy goals, investments in ESS solutions will play a crucial role in ensuring grid resilience and energy security.

India Energy Storage Systems (ESS) Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on technology, application, and end user.

Technology Insights:

Pumped Hydro
Electrochemical Storage
Electromechanical Storage
Thermal Storage

The report has provided a detailed breakup and analysis of the market based on the technology. This includes pumped hydro, electrochemical storage, electromechanical storage, and thermal storage.

Application Insights:

Stationary
Transportation

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes stationary and transportation.

End User Insights:

Residential
Non-Residential
Utilities

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes residential, non-residential, and utilities.

Regional Insights:

North India
South India
East India
West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Energy Storage Systems (ESS) Market News:

In February 2025, JSW Energy announced securing auction of Solar Energy Corporation of India to develop a battery energy storage system of 500 MWh capacity in Kerala.
In August 2024, Foxconn announced plans to construct a battery energy storage system facility in India, with key focus on EVs sector.

India Energy Storage Systems (ESS) Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	GW
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Technology Application End User Region
Technologies Covered	Pumped Hydro, Electrochemical Storage, Electromechanical Storage, Thermal Storage
Applications Covered	Stationary, Transportation
End Users Covered	Residential, Non-Residential, Utilities
Regions Covered	North India, South India, East India, West India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the India energy storage systems (ESS) market performed so far and how will it perform in the coming years?
What is the breakup of the India energy storage systems (ESS) market on the basis of technology?
What is the breakup of the India energy storage systems (ESS) market on the basis of application?
What is the breakup of the India energy storage systems (ESS) market on the basis of end user?
What is the breakup of the India energy storage systems (ESS) market on the basis of region?
What are the various stages in the value chain of the India energy storage systems (ESS) market?
What are the key driving factors and challenges in the India energy storage systems (ESS) market?
What is the structure of the India energy storage systems (ESS) market and who are the key players?
What is the degree of competition in the India energy storage systems (ESS) market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India energy storage systems (ESS) market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India energy storage systems (ESS) market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India energy storage systems (ESS) industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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