Off-grid Energy Storage Market in India – Drivers and Forecasts by Technavio

07-Oct-2017 Intellasia | BusinessWire | 3:03 AM Print This Post

LONDON–(BUSINESS WIRE)–#EnergyStorageTechnavio
analysts forecast the off-grid
energy storage market in India
to grow at a CAGR of more than
15% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of
the off-grid energy storage market in India for 2017-2021. The
market is segmented based on end-user (residential and
non-residential) and technology (lead-acid and Li-ion).

India is one of the high potential countries for off-grid power systems
where reliable grids do not exist. This is owing to the lack of adequate
T&D infrastructure and low electrification rate. Off-grid power systems
such as mini-grids with storage are sought after power source for rural
electrification as they can be deployed at a faster pace when compared
with developing/extending the grid structure. This is increasing energy
storage demand as most of the off-grid power systems are renewable based
and require a battery to smoothen the intermittent power generation from
renewable sources.

This report is available at a USD 1,000 discount for a limited time
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

Technavio energy
research analysts highlight the following three factors that are
contributing to the growth of the off-grid energy storage market in

  • Need for electrification
  • Increasing demand from telecom sector
  • Growing use in hybrid applications

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Need for electrification

Electricity consumption is proportional to the economic development of a
country. Though it is a complex relationship, electricity is a
pre-requisite and a strategic component necessary for economic growth,
driving infrastructure and social development.

Thanikachalam Chandrasekaran, a lead energy
research analyst at Technavio, says, “A majority of the
population in developing countries, especially in rural areas, lack
access to grid power, thereby indirectly impacting the economic growth
of a country. According to the IEA, as of 2016, India accounted for the
highest population without electricity in all Developing Asia. The
national electrification rate was 81%, and about 244 million people
lacked access to electricity in 2016. The rural electrification rate in
2016 was only 74%, whereas the urban electrification rate was 96%.”

Increasing demand from telecom sector

There has been an unprecedented growth in the global telecom sector.
Telecom operators have been installing new BTS to support the explosion
in traffic. According to the World Bank, the mobile subscription per 100
persons increased from 88 in 2010 to 105 in 2014, which is expected to
drive the need for installation of additional BTS to provide better
coverage, globally.

“This has resulted in telecom towers to be installed in remote
locations where a major portion of the telecom towers is powered using
diesel generators in off-grid sites. It is estimated that as of 2016,
there were close to 0.45 million telecom towers in India, wherein more
than 50% of the towers were not connected to the grid and rather
depended on alternate power sources,”
adds Thanikachalam.

Growing use in hybrid applications

Renewable sources such as wind, hydro, and solar are intermittent in
nature, which reduces their potential as standalone power systems. Using
these resources in a hybrid form overcomes this issue and enables a
continuous, reliable power supply. This has boosted their wide-spread
adoption as on-site power production, especially in remote areas. Also,
vendors are developing new products to increase the adoption of
decentralized power generation systems.

Realizing the potential off-grid energy storage possesses when combined
with PV, at the COP21 meeting held at Paris in 2015, India announced
that it would meet 40% of its energy requirements using renewable energy
sources by the year 2030. In several measures taken by the government to
meet the target, in June 2016, the Ministry of New and Renewable Energy
set a draft wherein it proposed the installation of at least 10,000
renewable-based microgrids and mini grids in the country. This is
expected to boost the growth of off-grid
energy storage systems
in the country.

Top vendors:

  • Delta Electronics
  • Exide Industries
  • NEC Energy Solutions
  • Su-Kam Power Systems

Browse Related Reports:

About Technavio

is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at [email protected].


Technavio Research
Jesse Maida
Media & Marketing Executive
+1 844 361 1100
UK: +44 203 893 3200


Category: BusinessWire, PRAsia

Print This Post