India battery energy storage sector projected to grow 91% by FY32

India’s Battery Energy Storage System (BESS) sector is projected to experience a compound annual growth rate of 91 per cent between FY26 and FY32E. According to a report by Nuvama, cumulative capacity is expected to rise from 6.3 GWh to 302 GWh during this period, driven by the need for renewable energy integration and grid balancing.

The Central Electricity Authority (CEA) estimates national BESS demand could reach 236 GWh by FY32 and 1,840 GWh by 2047. While lithium-ion currently dominates 98 per cent of the market, opportunities exist for sodium-ion technology and domestic capacity growth as battery costs fall.

In line with this market expansion, Trontek Electronics has announced plans to enter the BESS market, targeting 12 GWh of annual manufacturing capacity by 2028. The company’s portfolio will include residential, commercial, industrial, and utility-scale applications, with system sizes ranging from 215 kWh to 5 MWh.