India Renewable Energy Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

India Renewable Energy Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A4671
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Market Overview 2022-2027:

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 is derived from naturally occurring resources that are continuously replenished. It includes power generated from environment-friendly sources, such as biomass, sunlight, wind, rain, tides, waves, and geothermal heat. It assists in reducing air pollution as it does not produce harmful greenhouse gas (GHG) emissions. It also aids in improving public health, diversifying the energy supply, minimizing dependence on fossil fuels, and improving the overall economic development of a country. Besides this, it helps create new job opportunities for individuals in manufacturing and installing new power plants. In addition, as renewable energy helps reduce electricity bills, it is widely utilized for cooking, heating, transportation, and generating electric power. At present, there is an escalating demand for renewable energy across residential and commercial spaces of India. 

 

 
 

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India Renewable Energy Market Trends:

At present, the increasing population is resulting in the surging consumption of electricity, which represents one of the key factors positively influencing the market in India. In addition, the expansion of factories and the rising prevalence of global warming due to rapid urbanization, deforestation, and increasing industrial activities are driving the need for environment-friendly energy sources in the country. In line with this, increasing cases of respiratory diseases on account of rising air pollution levels are providing a thrust to the market growth. Apart from this, the growing awareness among individuals about the benefits of renewable energy sources over their conventional counterparts is creating a positive outlook for the market. Furthermore, the Government of India (GoI) is introducing several awareness campaigns, offering subsidies, and initiating several large-scale sustainable power projects to promote the use of green energy sources. It is also focusing on installing rooftop solar (RTS) capacity in the residential sector, which is propelling the market growth. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India renewable energy market report, 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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  • Hydroelectric Power
  • Solar Energy
  • Wind Power
  • Bioenergy
  • Others
     

Solar energy is the most commonly used energy type as India is a tropical country and receives sunlight throughout the year. The increasing investment opportunities for solar photovoltaic power powers across the country is another major factor. 

Breakup by End Use:

  • Residential
  • Commercial
  • Industrial
  • Others
     

The industrial segment dominates the market due to rapid urbanization and the expansion of different industries across the country. 

Breakup by Region:

  • North India
  • West and Central India
  • South India
  • East India
     

North India enjoys the leading position in the market as the northern hemisphere receives the maximum intensity of sun rays, making it an ideal location for the establishment of renewable energy plants. 

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

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)

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India Renewable Energy Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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