India Onshore Wind Energy Market is expected to grow at a CAGR of 42.1% during the forecast period and is expected to reach US$ 32.45 Bn by 2027.
India Onshore Wind Energy Market Scope and Research Methodology
This India Onshore Wind Energy Market research report provides a comprehensive view of competition, including market share and profiles of major industry rivals worldwide. The study delves into various sectors to examine the factors that influence the industry’s growth.
The top-down and bottom-up approaches are used to validate and estimate market size by segment. India Onshore Wind Energy Market estimates are based on sale prices, with weights applied to usage rate and average sale price to produce percentage splits, market shares, and segment breakdowns. The geographical divisions are based on the adoption or usage percentage of the market size in each area.
India Onshore Wind Energy Market Drivers :
India onshore wind market is anticipated to grow at a faster pace in 2018, the key reasons being amplified context of energy supply, and demand and increasing demand for renewable energy in electricity generation. For example, Government of India has set a determined target of attaining 175 GW of renewable power capacity in the country by 2022 of which 60 GW to derive from wind. Also, the country has set an objective of having 40% of its installed electric capacity driven by non-fossil-fuel origins by 2030. Wind energy being clean energy has to play a crucial role in achieving these goals to meet the challenges of climate change. In addition, the wind electric generator technology has developed very promptly, which will boost the growth of onshore wind energy market in the country. Also, all the key global players in this sector have their presence in the country and 50 different models of wind turbines are being manufactured by more than 20 different companies in India, through joint ventures under licensed manufacture, branches of foreign companies, and Indian companies with their individual technology.
Development of onshore wind energy generate the opportunity in wind energy sector such as, for each MW capacity around 5 Full Time Equivalent (FTE) jobs will create during the first year for manufacturing, construction and installation and around 1.2 FTE jobs will create for 20 years for O&M activities. The Government encourages wind energy sector in the country through financial incentives such as accelerated depreciation, compromise in custom duty on certain machineries of wind electric generators and loan from Indian Renewable Energy Development Agency (IREDA) & other financial institutions. Furthermore, 100 percent FDI through automatic route is permitted in the renewable energy sector including wind energy sector. These factors are amplifying the growth of onshore wind energy market in India.
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India Onshore Wind Energy Market Segmentation Analysis:
Based on Formulation, the Tablets Supplements segment held the largest market share of the Market in 2023. According to the MMR analysis, It stands out as the dominant segment in Market thanks to its rapid technological advancement and growing adoption of smart devices with data connectivity and integration.
by Power Capacity
• < 500 KW
• 500 KW to 2 MW
• > 2 MW
by Wind Capacity
• High Wind Speed
• Medium Wind Speed
• Low Wind Speed
by End-Use
• Utilities
• Hybrid Power
• Commercial & Industrial
• Others
by Application
• System Stability
• Peak Power Management
• Frequency Response
• Demand Response
• Power Storage
by Grid Connectivity
• Off-grid
• On-grid
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Key players include India Onshore Wind Energy Industry :
• ReGen Powertech Pvt. Ltd.
• Wind World India Ltd.
• Orient Green Power Ltd
• Indowind Energy Limited
• GE Wind Energy Ltd.
• Inox Wind
• Leitwind Shriram Manufacturing Ltd.
• RRB Energy
• Siemens AG
• Envision energy
• General Electric Wind Energy
• Suzlon
• Vestas Wind System A/S
• Enercon GmbH
• Mitsubishi Power Systems
• Nordex S.E.
• Repower
• Gazelle Wind Turbines
• Clipper Wind Power
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Key Questions Answered in the India Onshore Wind Energy Market Report are:
- Which segment asserted the greatest market share in 2024 for India Onshore Wind Energy ?
• How does the competitive landscape unfold within the India Onshore Wind Energy market?
• What pivotal factors steer the growth trajectory of the India Onshore Wind Energy market?
• In the realm of the India Onshore Wind Energy market, which region commands the most significant market share?
• What is the anticipated Compound Annual Growth Rate (CAGR) for the India Onshore Wind Energy market during the forecast period (2024-2030)?
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