India Wind Energy Market is Estimated to Grow at a CAGR of 8% by 2030, Driven by Government Policies and Renewable Energy Targets

Mordor Intelligence has published a new report on the India Wind Energy Market, offering a comprehensive analysis of trends, growth drivers, and future projections.

Introduction

India's wind energy market is on a steady growth trajectory, expected to achieve a compound annual growth rate (CAGR) exceeding 8% by 2030. This rise is powered by consistent government policy support and the country's firms' commitment to meeting their renewable energy targets. As India works toward reducing dependence on fossil fuels, wind energy remains a key pillar in its clean energy framework.

The central and state governments have implemented auction mechanisms, tariff-based bidding, and repowering policies that make the environment more favorable for wind power development. These strategies not only attract private sector investment but also align with India's broader goal of installing 500 GW of non-fossil fuel energy capacity by 2030. Wind, particularly onshore, plays a foundational role in achieving this goal.

Report Overview: https://www.mordorintelligence.com/industry-reports/india-wind-energy-market?utm_source=openpr

Key Trends

Declining Cost of Wind Energy

Wind energy in India has become increasingly affordable, which is one of the biggest enablers for new capacity addition. Turbine prices have reduced, and operational efficiency has improved, thanks to better designs and local manufacturing. This has allowed developers to offer lower tariffs in competitive bidding rounds, making wind power cost-competitive compared to conventional energy sources.

Rising Investment and Transmission Improvements

Private and public investment in wind infrastructure is increasing. These include investments not only in turbines and equipment but also in grid integration, such as dedicated transmission corridors and substation upgrades. These developments help in resolving bottlenecks and reducing energy curtailment, a concern for earlier projects. Enhanced grid access has improved the financial viability of upcoming projects, especially in remote and high-wind zones.

Initial Focus on Offshore Wind Potential

While onshore wind continues to dominate India's wind portfolio, there is growing interest in offshore wind. Coastal states such as Gujarat and Tamil Nadu have been identified as potential hubs for offshore development. The government has introduced frameworks to initiate early-stage projects and explore commercial viability. Though still in its infancy, the offshore segment could play a critical role in long-term capacity expansion, especially as land availability becomes constrained for onshore farms.

Market Segmentation

According to the Mordor Intelligence report, India's wind energy market is segmented by installation type:

Onshore Wind

Onshore wind power forms the backbone of India's wind energy sector. The majority of installed capacity comes from onshore projects located in wind-rich states like Gujarat, Tamil Nadu, Maharashtra, Karnataka, and Rajasthan. These states offer favorable conditions, including supportive state-level policies, suitable terrain, and infrastructure.

Projects in this segment vary from utility-scale farms connected to the national grid to regionally distributed clusters. Onshore wind continues to receive the bulk of new investment and remains the primary focus for developers due to mature technology, faster deployment timelines, and lower costs compared to offshore.

Offshore Wind

Offshore wind is still in a preliminary stage in India, but has received policy-level support. Government-led initiatives are examining potential zones along the western and eastern coastlines. Pilot projects are being scoped out, particularly in Gujarat and Tamil Nadu, to understand technical feasibility and cost structure. Although no large-scale offshore projects have been commissioned yet, their inclusion in the government's long-term strategy reflects the intent to diversify India's wind portfolio.

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Key Players

The Indian wind energy market is composed of a mix of local and international players, many of whom are involved in manufacturing, project development, and operations. As per the Mordor Intelligence report, some of the major companies in the market include:

Suzlon Energy Limited: One of India's largest wind turbine manufacturers, Suzlon has played a central role in domestic capacity addition. The company is involved in both manufacturing and turnkey project execution.

Inox Wind Limited: Another leading Indian manufacturer, Inox focuses on providing integrated wind energy solutions, including turbines and commissioning services.

Vestas Wind Systems A/S: A global wind technology company based in Denmark, Vestas has maintained a presence in India through supply contracts and partnerships with local developers.

Tata Power Company: Through its renewable energy subsidiary, Tata Power has developed wind farms across several Indian states and is expanding its presence further.

Enercon GmbH: A German turbine supplier with local operations in India, Enercon focuses on gearless wind turbine technology and continues to support both legacy and new projects.

Other participants: General Electric, Siemens Gamesa, Envision, and Wind World India also contribute to the Indian wind market through a combination of technology, investment, and long-term service models.

These companies bring a range of technologies, services, and financial resources that are crucial for the sector's growth. Partnerships between Indian and foreign firms have also helped improve turbine design and project efficiency.

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Conclusion

India's wind energy sector is entering a new phase of expansion. With a strong policy framework, falling costs, and increasing private interest, the sector is poised to contribute significantly to the country's clean energy future. Onshore wind will continue to lead in terms of capacity, but the emergence of offshore planning reflects the government's focus on longer-term diversification.

As the country works toward its ambitious renewable energy goals, collaboration across public agencies, private developers, and international investors will be essential. The market environment, supported by reforms and incentives, provides fertile ground for both innovation and large-scale deployment.

For investors, manufacturers, and policymakers, the India Wind Energy Market presents clear signals of opportunity. The detailed Mordor Intelligence report offers more granular analysis on capacity trends, state-wise breakdowns, and project pipelines for those seeking a deeper understanding.

For more market analysis, visit the Mordor Intelligence page: https://www.mordorintelligence.com/industry-reports/india-wind-energy-market?utm_source=openpr

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