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Report
India Lithium-ion Energy Storage Solution Market, By Type (On-Grid and Off-Grid), By End User (Solar, Power Plants, Stationary, Wind, Industrial and Others) By Region, Competition, Forecast & Opportunities, 2021-2031F
Market Report I 2025-05-16 I 86 Pages I TechSci Research
Market Overview
India's Lithium-ion Energy Storage Solution Market was valued at USD 611 million in 2025 and is projected to reach USD 988 million by 2031, growing at a CAGR of 8.18% during the forecast period. Lithium-ion energy storage systems are advanced, rechargeable solutions designed to store electricity and release it when required, offering high energy density, long life cycles, and rapid charging capabilities. These systems are widely adopted across residential, commercial, and industrial segments, enabling energy reliability and efficiency in applications ranging from renewable energy integration to backup power.
These storage solutions are particularly critical in managing variable energy supply from sources like solar and wind by capturing surplus generation during peak output periods and delivering it during low production or high demand intervals. Their applications extend to grid balancing, electric vehicle charging infrastructure, and off-grid power systems. Lithium-ion systems are compact, low-maintenance, highly efficient (typically exceeding 90%), and environmentally friendlier than conventional alternatives, making them a central component in India's energy transition strategy.
Key Market Drivers
Growing Renewable Energy Integration
The increasing integration of renewable energy sources into India's energy mix is a primary driver of the lithium-ion energy storage market. With an expanding renewable portfolio-particularly solar and wind-India is focused on decarbonizing its power sector and enhancing energy reliability. However, the intermittent nature of renewables necessitates robust energy storage to stabilize the grid and ensure continuous power delivery.
Lithium-ion storage systems enable energy developers to store excess power generated during peak sunlight or wind periods and dispatch it during demand surges or when generation drops. This not only improves energy reliability but also supports India's broader environmental goals. Policies such as solar park development schemes, production-linked incentives for battery manufacturing, and regulatory encouragement for hybrid renewable-storage projects have made lithium-ion storage systems integral to clean energy deployment. The declining cost of lithium-ion batteries further enhances their adoption, making energy storage a financially viable solution for utility-scale and distributed energy projects. As of early 2025, India's renewable energy installed capacity reached approximately 180 GW, with solar and wind contributing 80 GW and 45 GW respectively.
Key Market Challenges
High Initial Capital Costs
The major challenge hindering the broader adoption of lithium-ion energy storage systems in India is their high initial capital requirement. Although battery prices have declined significantly in recent years, lithium-ion systems still involve substantial upfront investment, including expenses for the battery modules, power electronics, control systems, and installation.
This cost factor limits penetration, especially in cost-sensitive markets such as residential and small commercial segments. The high investment barrier can delay project timelines or deter adoption in rural and semi-urban areas where financial resources are limited. Additionally, the total cost of ownership includes operational and maintenance considerations that further add to the financial burden for end users.
To overcome this, stakeholders must explore solutions like public-private partnerships, subsidies, concessional financing, and domestic battery production. Incentivizing local manufacturing and research into cost-effective battery chemistries could also support affordability and scalability of lithium-ion systems across wider market segments.
Key Market Trends
Accelerated Growth in Utility-Scale Energy Storage Projects
India is witnessing a surge in utility-scale lithium-ion energy storage projects, driven by the need to stabilize the national grid and accommodate the rising share of renewable energy. Large-scale storage solutions are increasingly deployed to enhance grid resilience, reduce transmission congestion, and enable efficient renewable energy dispatch.
Supportive government programs such as the Green Energy Corridor and the National Energy Storage Mission are fostering an enabling environment for utility-scale deployment. These initiatives aim to strengthen transmission infrastructure while encouraging private sector participation in large-scale battery installations.
Falling battery costs and technological advancements are improving project viability, encouraging investments and international collaborations. Partnerships between Indian developers and global technology providers are bringing best-in-class systems to the Indian market. These trends are expected to continue, with more storage projects co-located with solar and wind farms, further strengthening India's transition toward a clean and reliable energy future.
Key Market Players
- Tata Power Solar Systems Ltd
- Exide Industries Ltd.
- Luminous Power Technologies Pvt. Ltd.
- Sterling and Wilson
- Waaree Energies Ltd.
- Delta Electronics India
- SUN Mobility
- Coslight India Telecom Pvt. Ltd.
Report Scope:
In this report, the India Lithium-ion Energy Storage Solution Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- India Lithium-ion Energy Storage Solution Market, By Type:
o On-Grid
o Off-Grid
- India Lithium-ion Energy Storage Solution Market, By End User:
o Solar
o Power Plants
o Stationary
o Wind
o Industrial
o Others
- India Lithium-ion Energy Storage Solution Market, By Region:
o North India
o South India
o East India
o West India
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the India Lithium-ion Energy Storage Solution Market.
Available Customizations:
India Lithium-ion Energy Storage Solution Market report 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:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Formulation of the Scope
2.4. Assumptions and Limitations
2.5. Sources of Research
2.5.1. Secondary Research
2.5.2. Primary Research
2.6. Approach for the Market Study
2.6.1. The Bottom-Up Approach
2.6.2. The Top-Down Approach
2.7. Methodology Followed for Calculation of Market Size & Market Shares
2.8. Forecasting Methodology
2.8.1. Data Triangulation & Validation
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. India Lithium-ion Energy Storage Solution Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (On-Grid and Off-Grid)
5.2.2. By End User (Solar, Power Plants, Stationary, Wind, Industrial and Others)
5.2.3. By Region (South India, North India, West India, East India)
5.2.4. By Company (2025)
5.3. Market Map
6. South India Lithium-ion Energy Storage Solution Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By End User
7. North India Lithium-ion Energy Storage Solution Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By End User
8. West India Lithium-ion Energy Storage Solution Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By End User
9. East India Lithium-ion Energy Storage Solution Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By End User
10. Market Dynamics
10.1. Drivers
10.2. Challenges
11. Market Trends & Developments
11.1. Merger & Acquisition (If Any)
11.2. Product Launches (If Any)
11.3. Recent Developments
12. Policy and Regulatory Landscape
13. India Economic Profile
14. Company Profiles
14.1. Tata Power Solar Systems Ltd
14.2. Exide Industries Ltd.
14.3. Luminous Power Technologies Pvt. Ltd.
14.4. Sterling and Wilson
14.5. Waaree Energies Ltd.
14.6. Delta Electronics India
14.7. SUN Mobility
14.8. Coslight India Telecom Pvt. Ltd.
15. Strategic Recommendatio
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