Renewable Energy Market - India
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 23.9 Billion
Market Size in 2033: UUSD 52.1 Billion
Market Growth Rate (CAGR) 2025-2033: 8.1%
According to IMARC Group's report titled "India Renewable Energy Market Report and Forecast 2025-2033," the market reached USD 23.9 billion in 2024. Looking forward, IMARC Group expects the market to reach USD 52.1 billion by 2033, exhibiting a growth rate (CAGR) of 8.1% during 2025-2033.
Download sample copy of the Report: https://www.imarcgroup.com/india-renewable-energy-market/requestsample
India Renewable Energy Market Trends and Drivers:
- India’s renewable energy market is growing rapidly due to strong policy support, falling technology costs, and rising environmental awareness.
- Aggressive government initiatives, such as national renewable targets, subsidies, tax credits, and net-metering, are boosting utility-scale and rooftop solar installations, along with wind energy deployment.
- The continuous drop in prices of solar panels, inverters, storage batteries, and wind turbines is improving clean energy affordability, encouraging wider adoption by residential, commercial, and industrial sectors.
- Increasing electricity demand, coupled with concerns about energy security and volatile fossil fuel prices, is pushing states and distribution companies to diversify their energy mix through renewables.
- Advancements in grid management technologies and smart grid infrastructure, along with the rise in storage solutions, are making renewable energy integration more reliable and flexible.
- Corporate sustainability targets and growing commercial demand are fueling the rise of solar and wind corporate power purchase agreements (PPAs) and captive renewable energy projects.
- Emerging technologies like hybrid renewable systems, floating solar, and co-located storage are opening new creative capacity avenues in the market.
- Climate change concerns and global pressure to reduce carbon footprints are motivating policymakers, utilities, and consumers to adopt green energy solutions.
- The expansion of electric vehicle (EV) infrastructure and charging networks is increasing the need for renewable energy to power clean transportation.
- Rural electrification initiatives, including microgrid and off-grid solar programs, are enhancing energy access and socio-economic growth in remote regions.
- Multilateral financing, green bonds, and international investments are supporting the funding of renewable energy projects across India.
- The combination of favorable policy frameworks, cost-effective technologies, climate imperatives, and rising clean energy demand is positioning India’s renewable energy sector for sustained long-term growth and a low-carbon future.
India Renewable Energy Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India renewable energy market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Segmentation by Type:
- Hydroelectric Power
- Solar Energy
- Wind Power
- Bioenergy
- Others
Segmentation by End Use:
- Residential
- Commercial
- Industrial
- Others
Segmentation by Region:
- North India
- West and Central India
- South India
- East India
Request for customization: https://www.imarcgroup.com/request?type=report&id=4671&flag=C
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
