India Grid Energy Storage Market 2033 Trends and Opportunities

India Grid Energy Storage Market Size, Share, Trends and Forecast by Battery Chemistry, Ownership, Application, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A31442

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India Grid Energy Storage Market Overview:

The India grid energy storage market size reached USD 0.09 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 0.25 Billion by 2033, exhibiting a growth rate (CAGR) of 11.81% during 2025-2033. India's grid energy storage market is growing rapidly, driven by renewable energy adoption and government investments. Battery Energy Storage Systems (BESS) and Pumped Storage Projects (PSP) enhance grid stability, reduce fossil fuel reliance, and support the country's goal of achieving 60 GW storage capacity by FY32, contributing overall market growth.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 0.09 Billion
Market Forecast in 2033	USD 0.25 Billion
Market Growth Rate 2025-2033	11.81%

India Grid Energy Storage Market Trends:

Innovation in Battery Energy Storage Solutions

India's grid energy storage market has experienced notable advancements, with a growing emphasis on clean energy and sustainable technologies. As the nation accelerates its renewable energy goals, battery energy storage systems (BESS) have emerged as essential for maintaining grid stability and ensuring a reliable power supply. The increasing demand for cost-effective and long-lasting energy storage solutions has further driven the need for innovation in this sector. In January 2025, LICO Materials launched LiGRID, a second-life Battery Energy Storage System (BESS) designed to reduce operational expenses by 60% compared to conventional technologies. With a lifespan four times longer than lead-acid batteries, LiGRID offers a practical, sustainable alternative for residential, commercial, and industrial applications. Its intelligent thermal management system and multi-layer safety features have further enhanced operational efficiency. This development not only supports the circular economy by repurposing used batteries but also minimizes e-waste and contributes to cleaner energy consumption. By offering reliable energy storage during peak demand hours, LiGRID has strengthened the resilience of India's energy grid. Such technological advancements are essential as the nation moves toward reducing its carbon footprint and achieving long-term energy security.

Strategic Investments in Energy Storage Expansion

India's commitment to renewable energy has intensified, with large-scale investments supporting the development of energy storage infrastructure. To ensure grid reliability and optimize renewable energy use, the government has prioritized expanding Battery Energy Storage Systems (BESS) and Pumped Storage Projects (PSP). The emphasis on achieving energy independence and reducing fossil fuel reliance has positioned energy storage as a critical enabler of the clean energy transition. In November 2024, the Indian government announced an ambitious plan to increase its energy storage capacity to 60 GW by FY32 through an INR 5 Trillion investment. The strategy involves scaling up both BESS and PSP to manage renewable energy fluctuations effectively. BESS will provide rapid-response storage, while PSP will ensure long-duration storage, complementing the grid's stability. This initiative has attracted both public and private sector investments, stimulating the growth of domestic manufacturing and technological innovation. It also supports the creation of employment opportunities across the energy sector. Additionally, the widespread adoption of advanced storage systems will enhance the integration of renewable energy into the grid, reducing dependence on fossil fuels. With this large-scale investment, India moves closer to its clean energy targets, reinforcing its leadership in the global energy transition.

India Grid Energy Storage Market Segmentation:

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

Battery Chemistry Insights:

Lead-Acid
Sodium-Based
Redox Flow
Lithium-ion
Others

The report has provided a detailed breakup and analysis of the market based on the battery chemistry. This includes lead-acid, sodium-based, redox flow, lithium-ion, and others.

Ownership Insights:

Third-party Owned
Utility Owned

The report has provided a detailed breakup and analysis of the market based on the ownership. This includes third-party owned and utility owned.

Application Insights:

Renewables
Peak Shifting
Ancillary Services
Backup Power
Others

The report has provided a detailed breakup and analysis of the market based on the application. This includes renewables, peak shifting, ancillary services, backup power, and others.

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 Grid Energy Storage Market News:

March 2025: PURE introduced the PuREPower energy storage line in India to accelerate the energy transition. Offering reliable, scalable solutions for homes and businesses, it enhanced grid stability, reduced fossil fuel dependency, and supported the nation’s renewable energy goals, promoting sustainable energy storage adoption.
February 2025: NHPC Ltd launched a tender for 500 MW/1,000 MWh standalone battery energy storage systems (BESS) in Andhra Pradesh under the VGF scheme. This initiative aimed to enhance grid reliability, meet peak power demands, and support renewable energy integration, driving energy storage industry growth.

India Grid Energy Storage Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Battery Chemistry Ownership Application Region
Battery Chemistries Covered	Lead-Acid, Sodium-Based, Redox Flow, Lithium-ion, Others
Ownerships Covered	Third-party Owned, Utility Owned
Applications Covered	Renewables, Peak Shifting, Ancillary Services, Backup Power, Others
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 grid energy storage market performed so far and how will it perform in the coming years?
What is the breakup of the India grid energy storage market on the basis of battery chemistry?
What is the breakup of the India grid energy storage market on the basis of ownership?
What is the breakup of the India grid energy storage market on the basis of application?
What are the various stages in the value chain of the India grid energy storage market?
What are the key driving factors and challenges in the India grid energy storage market?
What is the structure of the India grid energy storage market and who are the key players?
What is the degree of competition in the India grid energy storage 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 grid energy storage market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India grid energy storage 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 grid energy storage 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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