6wresearch logo

Rising Need for Renewable Energy Integration to Drive India RESS Market

August 11, 2016

India's renewable energy storage systems (RESS) market is in its nascent stage, where it is mainly driven by government initiatives and industrial applications. In the coming years, the market is expected to register substantial growth; however, high implementation cost is still hindering the market to reach its upmost potential.

According to 6Wresearch, India's RESS market is forecast to reach $3.32 billion by 2022. The Indian government has revised its renewable energy installed capacity target to 175 GW by 2022, which is expected to fuel the market for the renewable energy storage systems. In the forecast period, solar based energy storage systems are projected to hold dominant share of the market.

Electrochemical storage technology, primarily driven by secondary batteries (lead-acid and lithium-ion) captured major share of the market followed by mechanical (excluding PHS) and thermal. Further, electrochemical technology is anticipated to continue its market dominance during the forecast period.

"Utility application segment, accounted for the majority of the market share followed by Residential and Non-Residential," Anuj Mehrotra, research associate at 6Wresearch, said. "Decreasing renewable energy storage cost, development of smart cities and parks, and expansion of renewable energy based mini-grids would be the key drivers for this market, he added."

Media Source: I Connect 007

      Browse More Report

India Cable Tray Market (2018-2024)

Market Forecast By Material (Aluminium, Steel, Stainless Steel and FRP including Fiber Reinforced Palastic), By Types (Ladder, Solid Bottom, Trough & Perforated, Channel, Wire Mesh and Single Rail), By Thickness (Below 1.5 mm, 1.5 - 2.5 mm and Above 2.5 mm)...

Read More

Saudi Arabia Thermostats, Valves & Actuators and Damper Actuators Market (2014-2024)

Market Forecast By Thermostats (By Types (Standalone and Communicating), By Technology (Wired and Wireless)), By Valves & Actuators (Multi-Turn (Ball Valves, Butterfly Valves, Plug Valves, Spherical Valves and Others), Quarter-Turn (Gate Valves, Globe Valves...

Read More

Sudan & South Sudan Air Conditioner Market (2018-2024)

Market Forecast By Product Type (Room AC (Window and Split), Ducted AC (Ceiling Concealed and Packaged), Ductless AC (Suspended, Floor Standing and Cassette), Centralized AC (VRF, AHU/FCU, Condensing Unit, Chiller and Others)), By Applications...

Read More

Iraq Air Conditioner Market (2018-2024)

Market Forecast By Product Type ( Room AC ( Window and Split), Ducted AC (Ceiling Concealed and Packaged), Ductless AC (Suspended, Floor Standing and Cassette), Centralized AC (VRF, AHU/FCU, Condensing Unit, Chiller and Others)), By Applications...

Read More

Ethiopia Air Conditioner Market (2018-2024)

Market Forecast By Product Type (Room AC (Window and Split), Ducted AC (Ceiling Concealed and Packaged), Ductless AC (Suspended, Floor Standing and Cassette), Centralized AC (VRF, AHU/FCU, Condensing Unit, Chiller and Others)), By Applications...

Read More

Indonesia 1,000 kVA - 2,500 kVA High Speed Gas Genset Market (2018-2024)

Market Forecast By Types (Standby Power and Continuous/Prime Power), By KVA Rating (1,000 kVA to 1,500 kVA and 1,500.1 kVA to 2,500 kVA), By Applications (Industrial, Commercial, Agriculture and Oil & Gas), By Regions (Java-Bali, Sumatra, Kalimantan, Sulawesi...

Read More

Global Water Mist Fire Protection Systems Market (2018-2024)

Market Forecast By Pressure (Low Pressure (< 12.1 bar), Intermediate Pressure (12.1 - 35 bar) and High Pressure (> 35 bar), By Types (Wet Pipe, Dry Pipe, Deluge and Pre-Action), By Applications (Residential, Commercial, Transportation Infrastructure, Data Center...

Read More

Indonesia High Speed Diesel Genset Market (2018-2024)

Market Forecast By kVA Rating (5 kVA-500 kVA, 501 kVA-1000 kVA and 1001 kVA-3000 kVA), By Types (Standby and Continuous/Prime), By Applications (Commercial, Residential, Industrial, Critical Applications, Infrastructure, Agriculture, Power Utilities and Others), By Regions...

Read More

India Video Surveillance Storage Market (2018-2024)

Market Forecast By Technology (Network Attached Storage (NAS), Storage Area Network (SAN) and Direct Attached Storage (DAS), By Deployment (On Premise and Cloud based (Private, Public and Hybrid)), By Verticals (Banking & Financial, Government & Transportation...

Read More


Our Key Clients
6wreserach client list


6Wresearch Events
6wreserach events