Renewable Energy Market 2022 Industry Scenario, Growth Factors and Forecast to 2030

Quadintel published the latest research report on the Renewable Energy market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Renewable Energy market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

Rapid urbanization has fuelled power requirements for the smooth functioning of modern lifestyle. There is a spurt in the demand for renewable energy with the gradual exhaustion of conventional electricity generation methods such as thermal power. In India, solar and wind are the most popular renewable energy sources. The Ministry of New and Renewable Energy (MNRE) regulates the market. Some of the major producers are Adani Power Limited, The Tata Power Company Limited, ReNew Energy Global Plc, and JSW Energy Limited.

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Market insights:

In 2021, investment in the renewable energy market picked up during the April September period, reaching ~INR 1.00 Trn. The cumulative installed renewable energy capacity (excluding large hydro) stood at 92.54 GW by January 2021. It is expected to increase in the coming years, with a 13.15% growth rate between 2021 and 2026. The government has undertaken various schemes and programs to increase capacity and promote growth of renewable energy.

Segment insights:

The market is segmented into solar, wind, small hydro, and biopower. In FY 2020, India ranked fourth in the wind and renewable power and fifth in solar power installed capacity. Solar power capacity has increased by more than 15 times in the last seven years. The government widely promotes wind power projects around the country with the help of several private sector investments. The ministry is promoting efficient designs of water mills for mechanical utility and electricity generation and setting up micro hydel projects up to 100 KW for remote village electrification. About 32% of the primary energy is derived from biomass and a large number of the population is dependent on it.

COVID-19 impact analysis:

During the pandemic, the renewable energy sector was hit by multiple demand and supply shocks. However, the impact on the renewable power sector was relatively mild as the government announced a series of relief measures during the 2020 2021 period. The demand from commercial and industrial (C&I) consumers had declined by about 18% during the 2020 2021 period, while that of residential consumers increased by 5% 7%. The overall drop in power demand led to a slowdown in the markets growth. Hence the government introduced various policy measures including tenders, power project construction, and expansion plans to mitigate the impact of COVID-19.

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Table of Contents:

Market Overview
Market Definition and Scope
Market Dynamics
Market Industry Analysis
Market, Regional Analysis
Analysis of Leading Companies
Competitive Intelligence
Research Process
Market Analysis and Forecast, By Product Types
What aspects regarding the regional analysis Market are included in this report?

Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
The report offers detailed analysis of leading companies in the market across the globe.
It provides details of the major vendors involved in the Market including Key Players
A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
the manufactured products is incorporated in the report.
The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

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