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The India renewable energy market is expected to exhibit a CAGR of 10.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Renewable energy comprises hydroelectric power and solar, wind, tidal, biomass, geothermal energy. Also known as clean energy, it is derived from naturally recurring sources or processes that undergo replenishment continuously. It does not produce greenhouse gas (GHG) emissions and assists in economic development, reducing air pollution, minimizing dependence on imported fuels and diversifying energy supply. Besides this, as it helps in reducing energy bills and providing an extensive range of benefits, there is a rise in the demand for renewable energy sources in India.
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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At present, there is a rise in the prevalence of global warming on account of rapid urbanization, increasing deforestation and growing industrial activities. This, along with a significant need to reduce air pollution due to increasing respiratory diseases like asthma represents one of the key factors strengthening the growth of the market in India. Apart from this, there is a wide availability of wind power and solar power in the country. This, in confluence with numerous initiates undertaken by the Government of India to install rooftop solar (RTS) capacity in the residential sector and construct largest solar park, is contributing to market growth. Additionally, governing agency is focusing on promoting the use of clean energy sources by offering subsidies, introducing several awareness campaigns in association with non-governmental organizations (NGOs) and initiating several large-scale sustainable power projects. It is also funding the production of renewable energy on account of rising environmental concerns among people, which is creating a favorable market outlook. Furthermore, a shift in the trend towards the utilization of localized energy procurement is anticipated to drive the market in the country.
IMARC Group provides an analysis of the key trends in each sub-segment of the India renewable energy market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on type and end use.
Breakup by Type:
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Million |
| Segment Coverage | Type, End Use, Region |
| Region Covered | North India, West and Central India, South India, East India |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2299 Five User License: US$ 3399 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
We expect the India renewable energy market to exhibit a CAGR of 10.1% during 2022-2027.
The increasing utilization of renewable energy to aid in preventing greenhouse gas emissions, reducing air pollution, minimizing dependence on imported fuels, diversifying energy supply, etc., is primarily driving the India renewable energy market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation resulting in the temporary halt in the construction activities of renewable energy-based power plants.
Based on the type, the India renewable energy market can be segmented into hydroelectric power, solar energy, wind power, bioenergy, and others. Currently, solar energy holds the majority of the total market share.
Based on the end use, the India renewable energy market can be bifurcated into residential, commercial, industrial, and others. Among these, the industrial sector represents the largest market share.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where North India currently dominates the India renewable energy market.
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