India Renewable Energy Market Outlook, Size, Share, Top Companies and Growth Drivers 2023-2028
IMARC Group has recently released a new research study titled “India Renewable Energy Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the India renewable energy market share, drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
The 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.
Industry Definition and Application:
Renewable energy is the type of energy sourced from natural resources that can be replenished over a period, such as wind, sunlight, water, and geothermal heat. Unlike fossil fuels, which are finite resources, renewable energy is sustainable and does not produce harmful emissions. Renewable energy is becoming highly significant as the world seeks to reduce its reliance on fossil fuels and address the challenges of climate change. Renewable energy technologies, such as solar and wind power, are becoming more efficient and cost-effective and their widespread adoption is crucial for a sustainable future and the mitigation of the impacts of climate change.
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What are the growth prospects and trends in the industry?
The increasing environmental concerns represent a key factor driving the market growth across India. In addition to this, increasing cases of respiratory diseases on account of rising air pollution levels are providing a thrust to the market growth. Apart from this, the growing awareness among individuals regarding the benefits of renewable energy sources over their conventional counterparts is driving the market toward growth. Moreover, the Government of India (GoI) is introducing several awareness campaigns, offering subsidies, and initiating several large-scale sustainable power projects to promote the use of green energy sources, which is contributing to the market growth. Other factors, such as rapid urbanization and increasing industrialization, are creating a positive outlook for the market further 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.
Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/india-renewable-energy-market
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.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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