Market Size of India Power Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 492.86 gigawatt |
| Market Volume (2029) | 752.90 gigawatt |
| CAGR (2024 - 2029) | 8.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Power Market Analysis
The India Power Market size in terms of installed base is expected to grow from 492.86 gigawatt in 2024 to 752.90 gigawatt by 2029, at a CAGR of 8.80% during the forecast period (2024-2029).
- Over the medium period, factors such as supportive government policies, rising electricity demand due to infrastructural activities, and rising population are expected to drive the market during the forecasted period.
- On the other hand, huge investment is required to set up and modernize power generation, transmission & distribution networks, and weak private sector investments are expected to hinder the growth of the Indian power market.
- Nevertheless, India has abundant availability of solar irradiance and receives solar energy throughout the year. This has created enormous opportunities to exploit solar energy from the sunniest sites in the country, especially Rajasthan, Gujarat, and Andhra Pradesh. The factor above, clubbed with foreign investment and extensive power projects, provides an opportunity to grow the power market in India.
