Renewable Energy Industry in India Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Renewable Energy Market Size in India, Renewable Energy Companies and is segmented by source (wind, solar, hydro, bioenergy, and other sources).

Renewable Energy Industry in India Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

India Renewable Energy Market Size

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India Renewable Energy Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 10.00 %
Market Concentration Low

Major Players

India Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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India Renewable Energy Market Analysis

The India Renewable Energy Market is expected to register a CAGR of greater than 10% during the forecast period.

  • In the long run, the market is expected to be driven by things like government policies that help, growing concern about the environment, incentives, and tax breaks for installing solar panels.
  • On the other hand, the lack of grid infrastructure in rural areas is likely to hinder market growth during the forecast period.
  • Nevertheless, the Ministry of New and Renewable Energy (MNRE) set a target to achieve 500 GW of installed renewable energy capacity by 2030, which is expected to create a growth opportunity for the market in the future.

India Renewable Energy Industry Overview

The Indian renewable energy market is fragmented. Some of the major players in the market (in no particular order) include Tata Power Company Limited, NTPC Limited, Suzlon Energy Limited, Vestas Wind Systems AS, and Siemens Gamesa Renewable Energy SA., among others.

India Renewable Energy Market Leaders

  1. Tata Power Company Limited

  2. NTPC Limited

  3. Suzlon Energy Limited

  4. Vestas Wind Systems AS

  5. Siemens Gamesa Renewable Energy SA

  6. *Disclaimer: Major Players sorted in no particular order
India Renewable Energy Market Concentration
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India Renewable Energy Market News

  • June 2022: Ayana Renewable Power Pvt Ltd (Ayana) announced plans to set up renewable energy projects adding up to 2 gigawatts (GWs) with an investment of USD 1.53 billion in Karnataka.
  • February 2022: Creduce Advanced HCPL JV declared winning the bid for India's single-biggest hydropower carbon credit project with Satluj Jal Vidyut Nigam, which will make in excess of 80 million carbon credits.

India Renewable Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Renewable Energy Installed Capacity and Forecast in GW, till 2028
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Source
    • 5.1.1 Wind
    • 5.1.2 Solar
    • 5.1.3 Hydro
    • 5.1.4 Bioenergy
    • 5.1.5 Other Sources

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Domestic Players
    • 6.3.1.1 Adani Green Energy Limited
    • 6.3.1.2 Tata Power Company Limited
    • 6.3.1.3 Azure Power Global Limited
    • 6.3.1.4 NTPC Limited
    • 6.3.1.5 ReNew Power India
    • 6.3.1.6 Suzlon Energy Limited
    • 6.3.2 Foreign Players
    • 6.3.2.1 First Solar Inc.
    • 6.3.2.2 Vestas Wind Systems AS
    • 6.3.2.3 Trina Solar Limited
    • 6.3.2.4 Siemens Gamesa Renewable Energy SA
    • 6.3.2.5 JinkoSolar Holding Co. Ltd.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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India Renewable Energy Industry Segmentation

Renewable energy is the energy obtained from natural sources that is recharged at a higher rate than it is consumed, creating far lower carbon emissions than burning fossil fuels. India has immense growth potential in renewable energy, which ambitious targets and increasing investments can unlock.

The Indian renewable energy market is fragmented by source. By source, the market is segmented into wind, solar, hydro, bioenergy, and other sources. For each segment, the market sizing and forecasts have been done based on installed capacity (GW).

Source Wind
Solar
Hydro
Bioenergy
Other Sources
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India Renewable Energy Market Research FAQs

What is the current India Renewable Energy Market size?

The India Renewable Energy Market is projected to register a CAGR of greater than 10% during the forecast period (2025-2030)

Who are the key players in India Renewable Energy Market?

Tata Power Company Limited, NTPC Limited, Suzlon Energy Limited, Vestas Wind Systems AS and Siemens Gamesa Renewable Energy SA are the major companies operating in the India Renewable Energy Market.

What years does this India Renewable Energy Market cover?

The report covers the India Renewable Energy Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Renewable Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Renewable Energy in India Industry Report

The India renewable energy market is poised for substantial growth, driven by government support, technological advancements, and increasing environmental awareness. With a market initially valued at a significant figure, it is expected to nearly double in the coming years. This growth is fueled by the rising demand for clean and sustainable energy solutions across residential, commercial, and industrial sectors. Solar energy dominates due to India's abundant sunlight, decreasing costs of solar technologies, and strong government initiatives to enhance solar capacity. The market also benefits from the decentralization of power generation, addressing energy access challenges in remote areas. This shift towards renewable energy is a strategic response to the urgent need for sustainable energy sources that mitigate environmental impacts like air pollution and greenhouse gas emissions.

The industry growth is supported by comprehensive industry analysis and detailed industry statistics, which provide valuable industry information and insights into the market. The industry outlook remains positive, with numerous industry reports highlighting the potential for significant market growth. Industry research and industry sales data further underscore the expanding industry size and the trends shaping the sector.

Market data from leading research companies indicate a robust market forecast, with market growth driven by key market leaders. The market outlook is optimistic, with a thorough market overview and market predictions suggesting continued expansion. Market review and market segmentation analyses reveal the diverse market value across different sectors. For a deeper understanding, a report pdf and report example from credible sources can be referred to.

In summary, the growth rate of the renewable energy market in India is impressive, supported by extensive industry analysis and industry information. The industry outlook, bolstered by industry reports and industry research, points to a thriving sector. Market data and market forecast highlight the promising market growth, with market leaders playing a crucial role. The market overview and market predictions, along with market review and market segmentation, provide a comprehensive picture of the market value. Accessing a report pdf and report example will offer further insights into the industry's dynamics.