India Renewable Energy Market Research Report 2023 offers a comprehensive analysis of the market, including business opportunities, growth, and trend analysis for various applications, types, and regions such as North America, Europe, Asia-Pacific, South America, Middle East, and Africa. The report delves into important producers, market developments, opportunities, challenges, and threats to the market as a whole. It is a 100+ page report that provides a detailed examination of growth statistics, opportunities, trends and the competitive landscape in the industry.
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India Renewable Energy Market is expected to increase in the coming years, with a 13.15% growth rate between 2021 and 2026.
Rapid urbanization has fuelled power requirements for the smooth functioning of modern lifestyle. There is a spurt in the demand for renewable energy with the gradual exhaustion of conventional electricity generation methods such as thermal power. In India, solar and wind are the most popular renewable energy sources. The Ministry of New and Renewable Energy (MNRE) regulates the market.
Some of the major producers are Adani Power Limited, The Tata Power Company Limited, ReNew Energy Global Plc, and JSW Energy Limited.
Market insights:
In 2021, investment in the renewable energy market picked up during the April-September period, reaching ~INR 1.00 Trillion. The cumulative installed renewable energy capacity (excluding large hydro) stood at 92.54 GW by January 2021. The government has undertaken various schemes and programs to increase capacity and promote growth of renewable energy.
Segment insights:
The market is segmented into solar, wind, small hydro, and biopower. In FY 2020, India ranked fourth in the wind and renewable power and fifth in solar power installed capacity. Solar power capacity has increased by more than 15 times in the last seven years. The government widely promotes wind power projects around the country with the help of several private sector investments. The ministry is promoting efficient designs of water mills for mechanical utility and electricity generation and setting up micro hydel projects up to 100 KW for remote village electrification. About 32% of the primary energy is derived from biomass and a large number of the population is dependent on it.
COVID-19 impact analysis:
During the pandemic, the renewable energy sector was hit by multiple demand and supply shocks. However, the impact on the renewable power sector was relatively mild as the government announced a series of relief measures during the 2020 2021 period. The demand from commercial and industrial (C&I) consumers had declined by about 18% during the 2020 2021 period, while that of residential consumers increased by 5% 7%. The overall drop in power demand led to a slowdown in the markets growth. Hence the government introduced various policy measures including tenders, power project construction, and expansion plans to mitigate the impact of COVID-19.
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Our most recent research report showcases the thriving expansion of the India Renewable Energy Market and offers in-depth insights into the projected market size, share, and revenue until 2030.
The report addresses the following key questions regarding the India Renewable Energy market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of India Renewable Energy in the market?
- How are regulatory policies and government initiatives impacting the growth of the India Renewable Energy market?
- What is the market share of the top 5 players in the India Renewable Energy market and how is it likely to change in the future?
- What are the latest technologies and innovations in the India Renewable Energy market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the India Renewable Energy market?
- What are the challenges related to the supply chain and logistics that India Renewable Energy market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the India Renewable Energy market?
- What are the potential risks and uncertainties associated with investing in the India Renewable Energy market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of India Renewable Energy market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the India Renewable Energy market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the India Renewable Energy market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate India Renewable Energy business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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