According to IMARC Group’s latest report, titled “India Renewable Energy Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the India renewable energy market is expected to exhibit a CAGR of 10.1% during 2022-2027. Renewable energy is generated from natural sources, such as sunlight, wind, tidal, and geothermal heat, and is replenished at a higher rate than consumed. They help minimize dependence on imported fuels, do not produce greenhouse gas (GHG) emissions, and assist in economic development. The use of renewable energy also reduces the energy consumption bill and diversifies the energy supply, due to which it is extensively used in the transport, residential, automotive, and commercial sectors.
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Market Trends and Drivers:
The increasing environmental awareness and the surging energy demand due to the burgeoning population are some of the factors bolstering the renewable energy market in India. The increasing pollution levels due to rapid urbanization and deforestation are acting as another growth-inducing factor. Moreover, the rising awareness regarding the adverse health and environmental impact of GHG and rapid industrialization are positively contributing to the market growth. Additionally, the Government of India (GoI) is actively working to promote the use of renewable energy by introducing awareness campaigns and offering subsidies, which, in turn, is creating a positive outlook for the market. Apart from this, the surging awareness regarding the benefits of renewable energy sources over conventional energy sources and the rapidly expanding residential sector are accelerating the market growth.
Key Market Segmentation:
The report has segmented the India renewable energy market based on type, end use and region.
Breakup by Type:
- Hydroelectric Power
- Solar Energy
- Wind Power
- Bioenergy
- Others
Breakup by End Use:
- Residential
- Commercial
- Industrial
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape With Key Players:
The competitive landscape of the India renewable energy market has been studied in the report with the detailed profiles of the key players operating in the market.
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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