Report Summary Market Opportunity Analysis by Product (Li-Ion Battery, Flow Battery etc.), By Application (Transportation – Electric Vehicles, UPS for Industrial Consumers & DG Replacement for Telecom) & Segment Outlook by 2024
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The storage market is already making sustained gains and is expected to flourish with near term market size of close $160 Billion and grow further to $300 Billion by 2030. Interestingly this entire energy storage market shall see BESS being the largest contributor in terms of share of above 50% globally. This shall be no different in India either and shall not be a surprise that it might stand scaled up to 70-75% in the country. Having said that with India being still in the nascent phase for the BESS there are certain push elements desired for the market gain momentum and unwind it’s entire market potential in the country for there are terrific benefits for its application.
With growing solar PV installations and further gaining up in renewable power capacity additions clubbed with enticing business for electric vehicles in India, the rationale behind the battery energy storage systems (BESS) is certain to embellish and gather momentum in the country.
Key Queries Resolved
Business Case For Battery Energy Storage System In India
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