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$ 93.11 Bn by 2030.
India Onshore Wind Energy Market Overview:
The India Onshore Wind Energy Market analysis provides a comprehensive picture of competition, including the market share and company profiles of the worldwide industry’s top rivals. The research scope covers a complete analysis of the India Onshore Wind Energy Market, as well as the causes for variances in the industry’s growth in various places
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India Onshore Wind Energy Market Scope:
To identify and collect material suitable for this study, this research study makes considerable use of secondary sources, directories, and databases, such as annual reports, press releases, journals, corporate websites, and databases.
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 2023 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:
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
India Onshore Wind Energy Market Key Players: The key players are
1. ReGen Powertech Pvt. Ltd.
2. Wind World India Ltd.
3. Orient Green Power Ltd
4. Indowind Energy Limited
5. GE Wind Energy Ltd.
6. Inox Wind
7. Leitwind Shriram Manufacturing Ltd.
8. RRB Energy
9. Siemens AG
10. Envision energy
11. General Electric Wind Energy
12. Suzlon
13. Vestas Wind System A/S
14. Enercon GmbH
15. Mitsubishi Power Systems
16. Nordex S.E
17. Repower
18. Gazelle Wind Turbines
19. Clipper Wind Power
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Regional Analysis:
Individual market influencing elements and changes in market legislation that affect current and future market trends are also included in the regional component of the India Onshore Wind Energy Market study. Current and future trends are examined to assess the entire market potential and uncover profitable trends to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
Key Questions Answered in the India Onshore Wind Energy Market Report are:
1. Which region has the largest share in India Onshore Wind Energy Market?
Ans: South India region held the highest share in 2023.
2. What is the growth rate of India Onshore Wind Energy Market?
Ans: The India Onshore Wind Energy Market is growing at a CAGR of 42.1% during forecasting period 2024-2030.
3. What is scope of the India Onshore Wind Energy Market report?
Ans: India Onshore Wind Energy Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in India Onshore Wind Energy Market?
Ans: The important key players in the India Onshore Wind EnergyMarket are – 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, and Clipper Wind Power
5. What is the study period of this Market?
Ans: The India Onshore Wind Energy Market is studied from 2023 to 2030.
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