India Renewable Energy Market Size To Hit US$ 35.6 Billion By 2028 | IMARC Group

The latest report published by IMARC Group, titled "India Renewable Energy Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The India renewable energy 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.

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India Renewable Energy Market Trends:

The growing population is resulting in the escalating demand for electricity, which is primarily augmenting the India renewable energy market. Furthermore, the elevating number of factories and the inflating pollution levels, owing to urbanization levels, deforestation, and rising industrial activities, are positively influencing the market growth. Apart from this, the increasing awareness among consumers about the benefits of renewable energy sources over their conventional counterparts is acting as another significant growth-inducing factor. Moreover, the growing prevalence of respiratory diseases, on account of the inflating air pollution levels, is also bolstering the market growth across the country. Besides this, the introduction of numerous awareness campaigns, subsidies, and several large-scale sustainable power projects by the Government of India (GoI) to promote the use of green energy sources is further catalyzing the market growth. Additionally, the rising focus on the installation of rooftop solar (RTS) capacity in the residential sector is expected to drive the India renewable energy market in the coming years.

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.

Industry Definition and Application:

Renewable energy refers to clean energy derived from naturally occurring resources that are continuously replenished. It comprises power generated from environment-friendly sources, such as biomass, sunlight, wind, rain, tides, waves, and geothermal heat. Renewable energy aids in reducing air pollution as it does not produce harmful greenhouse gas (GHG) emissions. It also assists in improving public health, diversifying the energy supply, and enhancing the overall economic development of a country. Consequently, renewable energy further reduces the energy consumption bill and diversifies the energy supply, on account of which it is extensively used in the transport, residential, automotive, and commercial sectors.

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=4671&flag=C

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.

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This release was published on openPR.