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

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)

1   Preface
2   Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   India Renewable Energy Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Type
    6.1    Hydroelectric Power
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Solar Energy
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Wind Power
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Bioenergy 
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Others 
        6.5.1 Market Trends
        6.5.2 Market Forecast
7   Market Breakup by End Use 
    7.1    Residential   
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Commercial 
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Industrial  
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Others   
        7.4.1 Market Trends
        7.4.2 Market Forecast
8   Market Breakup by Region
    8.1    North India
        8.1.1 Market Trends
        8.1.2 Market Breakup by State
        8.1.3 Market Forecast
    8.2    West and Central India
        8.2.1 Market Trends
        8.2.2 Market Breakup by State
        8.2.3 Market Forecast
    8.3    South India
        8.3.1 Market Trends
        8.3.2 Market Breakup by State
        8.3.3 Market Forecast
    8.4    East India 
        8.4.1 Market Trends
        8.4.2 Market Breakup by State
        8.4.3 Market Forecast
9   SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10  Value Chain Analysis
11  Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12  Price Analysis
13  Policy and Regulatory Landscape
14  Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players

List of Figures

Figure 1: India: Renewable Energy Market: Major Drivers and Challenges
Figure 2: India: Renewable Energy Market: Sales Value (in Million US$), 2016-2021
Figure 3: India: Renewable Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: India: Renewable Energy Market: Breakup by Type (in %), 2021
Figure 5: India: Renewable Energy Market: Breakup by End Use (in %), 2021
Figure 6: India: Renewable Energy Market: Breakup by Region (in %), 2021
Figure 7: India: Renewable Energy (Hydroelectric Power) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: India: Renewable Energy (Hydroelectric Power) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: India: Renewable Energy (Solar Energy) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: India: Renewable Energy (Solar Energy) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: India: Renewable Energy (Wind Power) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: India: Renewable Energy (Wind Power) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: India: Renewable Energy (Bioenergy) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: India: Renewable Energy (Bioenergy) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: India: Renewable Energy (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: India: Renewable Energy (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: India: Renewable Energy (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: India: Renewable Energy (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: India: Renewable Energy (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: India: Renewable Energy (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: India: Renewable Energy (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: India: Renewable Energy (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: India: Renewable Energy (Other End Uses) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: India: Renewable Energy (Other End Uses) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: North India: Renewable Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: North India: Renewable Energy Market: Breakup by State (in %), 2021
Figure 27: North India: Renewable Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: West and Central India: Renewable Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: West and Central India: Renewable Energy Market: Breakup by State (in %), 2021
Figure 30: West and Central India: Renewable Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: South India: Renewable Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: South India: Renewable Energy Market: Breakup by State (in %), 2021
Figure 33: South India: Renewable Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: East India: Renewable Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: East India: Renewable Energy Market: Breakup by State (in %), 2021
Figure 36: East India: Renewable Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: India: Renewable Energy Industry: SWOT Analysis
Figure 38: India: Renewable Energy Industry: Value Chain Analysis
Figure 39: India: Renewable Energy Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: India: Renewable Energy Market: Key Industry Highlights, 2021 and 2027
Table 2: India: Renewable Energy Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: India: Renewable Energy Market Forecast: Breakup by End Use (in Million US$), 2022-2027
Table 4: India: Renewable Energy Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: India: Renewable Energy Market: Competitive Structure
Table 6: India: Renewable Energy Market: Key Players


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Key Questions Answered in This Report

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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