India Lithium-ion Energy Storage Solution Market By Type (Off-Grid and On-Grid), By End User (Stationary, Industrial, Solar, Residential, Wind, Power Plants and Others), Competition Forecast & Opportunities, 2016 - 2024
India Lithium-ion energy storage solution market was valued at around $ 10 million in 2018 and is forecast to grow at a staggering CAGR of more than 40%, to surpass $ 160 million by 2024. Anticipated growth in the market can be attributed to increasing demand for energy storage solutions in renewable energy sector, power plants, BFSI, retail, etc., in India. Moreover, Government of India is planning to incentivise the production of Lithium-ion batteries in India, which is likely to help in the setting up of Lithium-ion battery manufacturing units in the country over the next five years. This would result in domestic production of Lithium-ion energy storage solutions in India, which would have a huge positive impact on the market in the coming years. Moreover, the declining prices of lithium-ion batteries and advantages of lithium-ion batteries over other battery types such as lead-acid are further propelling the India Lithium-ion energy storage solution market.
Years Considered for this Report:
Historical Years: 2016-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
The primary objective of the study is to understand and gain insights about India Lithium-ion Energy Storage Solution market and its segmental analysis by type, by end user and by regional share.
To estimate and forecast market size of India Lithium-ion Energy Storage Solution market.
To categorize and forecast India Lithium-ion Energy Storage Solution market by type - On-Grid and Off-Grid.
To categorize and forecast India Lithium-ion Energy Storage Solution market by end user - solar, power plants, stationary, wind, industrial, residential and others.
To categorize and forecast India Lithium-ion Energy Storage Solution market by regions - North, East, West and South.
To perform strategic analyses such as SWOT, PESTLE and Porter’s Five Forces of India Lithium-ion Energy Storage Solution market.
To profile major companies operating in India Lithium-ion Energy Storage Solution market.
Few of the major players operating in India Lithium-ion Energy Storage Solution market include Sterling and Wilson Pvt. Ltd., Panasonic India Pvt. Ltd., Exicom Power Solutions, AES India Pvt Ltd., ACME Cleantech Solutions Private Limited, Delta Electronics India Pvt. Ltd., Amplus Solar, LG Chem, NEC Technologies India Private Limited and Coslight India Telecom Pvt. Ltd.
To analyze and forecast India Lithium-ion Energy Storage Solution market, both top-down and bottom-up approaches have been used. Multiple employees from the leading companies have been interviewed through telephonic conversations to extract and verify the information being collected at source. A brief study of the major players operating in India Lithium-ion Energy Storage Solution market was also undertaken, which included analysis of information such as ongoing installation projects, followed by the details of expected year of commissioning and estimated investments of various projects in India. Moreover, detailed and in-depth scrutiny of information was done to understand each policy or external or internal factor which could increase or decrease the demand for Lithium-ion Energy Storage Solutions in India. To extract data, primary surveys were conducted with key players and stakeholders in the industry. The future plans of major players were studied and projects which have commissioned in the country were identified.
Various secondary sources such as white papers and secondary literature on Lithium-ion Energy Storage Solution, Ministry of New and Renewable Energy, Ministry of Statistics & Programme Implementation, Ministry of Power, Central Electricity Authority, Indian Energy Storage Alliance, Lithium-ion Energy Storage Solution Companies’ Annual Reports, International Monetary Fund and World Bank were also studied by TechSci Research.
Key Target Audience:
Lithium-ion Energy Storage Solution manufacturers, suppliers, distributors and other stakeholders
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to Lithium-ion Energy Storage Solution market
Major end users of Lithium-ion Energy Storage Solutions
Market research and consulting firms
The study is essential in delivering useful information to industry stakeholders such as Lithium-ion Energy Storage Solution manufacturers, suppliers and other stakeholders. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities in specific market segments and geographies.
In this report, India Lithium-ion Energy Storage Solution market has been segmented into the following categories in addition to the industry trends which have also been listed below:
Market, By Type:
Market, By End User:
Market, By Region:
Market Share, By State:
Market, By Company:
Sterling and Wilson Pvt. Ltd.
Panasonic India Pvt. Ltd.
Exicom Power Solutions
AES India Pvt Ltd.
ACME Cleantech Solutions Private Limited
Competitive Benchmarking: Benchmarking of leading 10 players on the basis of end user.
Company Profiles: Detailed analysis of the major companies present in India Lithium-ion Energy Storage Solution market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Detailed analysis and profiling of additional market players (up to five).
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