According to IMARC Group’s latest report, titled “India Renewable Energy Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the India renewable energy market size reached US$ 20 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 35.6 Billion by 2028, exhibiting a growth rate (CAGR) of 10.19% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Renewable energy is generated from natural resources and are replenished over time, such as sunlight, wind, water, and geothermal heat. Unlike non-renewable energy sources, such as coal and oil, which are finite, renewable energy sources are considered sustainable and have a much smaller impact on the environment. Renewable energy technologies include solar panels, wind turbines, hydroelectric dams, and geothermal plants. The adoption of renewable energy is crucial to achieving a sustainable future for the planet.

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India Renewable Energy Market Trends:

The rising environmental concerns, including air and water pollution, represent a significant factor driving the market growth across the country. This is primarily attributed to the rapid pace of industrialization and the rising urbanization in India. In line with this, various governmental regulations promoting the adoption of renewable energy are contributing to the growth of the market. For instance, the government is offering subsidies and tax incentives for renewable energy generation, which, in turn, is driving the market growth. Other factors, such as the increasing demand for electricity, steadily rising population, increase in energy security, and cost competitiveness, coupled with an enhanced focus on sustainable development and the continual launch of green initiatives are creating a positive outlook for the renewable energy market across the country.

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 (2017-2022)
• Market Outlook (2023-2028)
• 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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