Indian market allow multiple opportunities in the continuously changing environment of shedding away conventional sources of energy & adopting new greener ways. Battery market in India is facing the market opportunity like never before because this time the driving force is public led. Budgetary allocations to offered subsidies there is a continuous push to create investment scenario favourable for the battery players. The Analysis done is by Product (Li-Ion, Flow Battery, VRBs etc.), Application (Transportation, UPS, Telecom), Competition (Foreign & Domestic; Sales; Market cap)
Why MCG report on ‘Battery Market in India’
AES AMERICA’S find USD 50 Billion opportunity in India Energy Storage market current & near future.
India set to be the leading contributor in the global cumulative Energy Storage market of USD 300 Billion by 2030.
India is leading the global strike on global warming by adopting renewable energy as the main driver of Indian economic and social engines. Paris Climate Agreement sets the tone right with the government’s recent decision of converting 30% of the total automotive as electric where the public transport seeing the leaders of change. Many state like Tamil Nadu, Karnataka, Uttar Pradesh have already rolled out their electric vehicle agenda with deadlines of 2022 to convert their public transport as green transports – by switching on to the electricity based motors. ICE (Internal Combustion Engines) no doubt will remain in action for quite some time now but the wind of change has already begun.
MCG report identifies the current level of market maturity with clear outline of the need gaps and the underlying opportunities for global technology players to establish themselves early. Our repot also identifies the available public support in terms of incentives offered by the state for those who contribute to this mission. Today current available electric infrastructure remains at 3GW far below the current immediate need of 50GW, which the Government of India (GoI) pledged to subsides, thought the need is more than 600GW in next 10 years, starting 2020. For the purpose GoI has initiated a policy framework called “FAME II – Faster Adoption & Manufacturing of Electric Vehicles” in India. Under FAME there are three focussed components:-
- Demand Incentives
- Charging Stations Network
- Battery Manufacturing
Currently the market is controlled by East Asian players while the Indian manufacturing ecosystem still at a nascent stage of evolution. This is a concern for GoI already due to importation of 2/3rd of India’s conventional energy demand.
Few Demand Incentives are:-
- Import Duty exemption for capital machinery
- Income Tax holidays for manufacturers
- 3 wheeler conventional Internal Combustion Engine to be phased out by 2023
- Metro stations in India to have dedicated charging stations as the last mile connectivity
- States in India to bring similar guidelines for e.g.
- Tamil Nadu government stated to convert public transportation into electric by 2022.
- Uttar Pradesh government to convert public buses to electric by 2022.
- Government of India plans to add 100 GW of solar capacity in the country by 2022.
- Needs storage for making large scale solar power installations completely grid interactive.
- 40 GW of roof-top installations to be achieved till 2022 demands for small-scale solar PV installations be utilized round the clock.
- Government to provide rebates of up to INR 2.5 Lakh, bringing EV under the umbrella of priority sector lending and lowering interest rates on loans will help push battery market in India.
- Falling trajectory of battery prices globally and further fall expected in near term helping cost economics of adaptation of BESS in India.
BESS (Battery Energy Storage System) is bound to be the next major driving force for not just automotive industry but other applications like UPS and Telecom industry. We also see a trend of the individual home owners opting for more BESS based operations as the Net Metering based grid connectivity penetrate more and become affordable. The trend is set to indulge in the organisation of the current scattered market.
India today see a proliferation of many start-ups and manufacturers to make this vision a reality within a short duration ‘earlier than expected’. Many elements of ground work are visible like ‘metal-air batteries’ which will produce energy by oxidising metals such as iron, zinc and aluminium.
Quoting Indian Oil Chairman Mr. Sanjeev Singh “These batteries cannot be recharged but motorists can replace plates to power them almost instantly, making it much more convenient for users and eliminating the need for charging infrastructure, he said. “A customer is not concerned how we make petrol if he can buy it wherever he wants.
Similarly, if he goes to a station and we replace the metal plates, he is not bothered because the whole thing happens within three minutes,” Singh said. The metal-air batteries have other advantages. “These batteries have high energy density. So, if a normal lithium-ion battery can travel the vehicle up to 300 km, these can take it to 500 km,”
“Rest of the battery including the air cathodes remain intact and there is no need to change them for at least eight years and after that the air cathode can be completed recycled,” said SSV Ramakumar, director – R&D at IOC
Likewise we have several initiatives on board with several brilliant R&D investments in the field by the public sector followed by the private players. There is a need for the gap to be filled by global companies who have the requisite technical know-how to make India the base of their global operations. There is a market waiting to be captured at a least resource allocation.
- Identification of right market strategy among capacity market & storage market in India.
- Battery Energy Storage Opportunity Matrix for Small Scale Adaptability in India – Regional Estimates.
- Battery Energy Storage Opportunity Matrix for Off-Grid Installations in the country factoring solar roof-top business case for domestic consumers.
- Financial Attractive Indexation for both Small & Large Scale BESS adaptability in India.
- Region wise BESS opportunity for large scale grid integration via comprehensive D2I track.
- Complete BESS Market outlook in India till 2024 with competition landscape, value chain opportunities and regulatory variance.
- BESS Market Product Outlook till 2024 in terms of Li-Ion Battery, Flow Battery VRBs etc.
- Complete market sizing and opportunity outlook till 2024 for different applications in India like Electric Vehicles Adaptability, renewable energy integration, uninterrupted power supply to industrial power consumers and diesel generator replacement opportunity for telecom industry in India.
- Company Profiles of all leading players in India & their business plan, battery product benchmarking, financial performance & product portfolio track with strategic initiative feed.
- BESS Market Orientation in India with Outlook till 2024 for Utility application (conventional power generation, grid operation and services), Direct Consumer application (UPS for Large Industrial Consumers), Renewable Energy Integration etc.
Management & Control for BESS in India with Barrier & Growth Drivers in the country till 2024.
- Battery Market Product Outlook in India as per Lithium-Ion, Flow Battery & VRBs etc till 2024.
- Application based opportunity track for BESS market in India till 2024 with specific sub-segment opportunity bundling for telecom industry and electric vehicles market in India.
- Company Benchmarks for products, services, margins, financial performance for top BESS providers in India.
Who will benefits from our insights:-
- Electric Vehicle Value Chain Players
- Battery Manufacturers
- Telecom Industry Players
- Government & Regulatory Bodies
- Research Institutions/Bodies
- Power Transmission Utilities
- EPC Contractors for Solar & Wind Energy Projects
- Utility & Roof top Solar Power Project Developers
- Smart Grid Service Providers
- Power Distribution Utilities
- Diesel Generator Manufacturers
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