India Renewable Energy Market: Valued at USD 47.7 in 2032 & Predicted to Register Nearly 9.20% CAGR Through 2032
As per the research report by Report Cube, the India Renewable Energy Market size is valued at USD 47.7 in 2032 and is estimated to grow at a CAGR of about 9.20% during the forecast period, 2025-32.
The country, India is observed to become one of the biggest markets for renewable energy worldwide with significant investments, governmental support, and international alliance. It was stated that by 2023, India's installed renewable energy capacity developed to over 120 GW, including solar, wind, biomass, and small hydropower. Also, a momentous drop in India's reliance on coal & other fossil fuels is estimated by 2030 when green energy is predicted to account for around half of the nation's total power capacity.
Moreover, it aids lessen dependency on limited supplies of fossil fuels, which are biologically harmful & subject to price fluctuations. By employing renewable resources, nations can enhance energy security and promote self-sufficiency in meeting their energy needs. Furthermore, renewable energy sources have a smaller environmental impact than conventional fossil fuels. Additionally, because they don't contribute much to air pollution or discharge harmful pollutants into the environment, climate change's negative consequences are mitigated and public health is benefited.
The industry is also considerably affected by the reduced price of renewable energy technologies, specifically solar & wind. As solar photovoltaic modules & wind turbines are becoming more affordable & cost-effective, renewable energy is becoming competitive with fossil fuels. Furthermore, decentralized renewable energy systems also offer a practical & ecological way to meet the energy requirements of these areas, which often deficit reliable grid connectivity. Since the India Renewable Energy Market is expanding and becoming a cornerstone of the nation's energy policy, it is foreseen that renewable energy would be vital to the nation’s economic growth, job generation, and environmental sustainability in the future years, further states the research study, India Renewable Energy Market Analysis, 2025.
Analyzing the India Renewable Energy Market Segmentation
Express Delivery to Dominate the India Renewable Energy Market
By end user the India Renewable Energy Market is bifurcated into: Residential, Commercial, Industrial, and Others.
The India Renewable Energy Industry is envisioned to be led by the Industrial Sector. Given their colossal energy needs and manufacturing facilities this sector is thought to be the nation's largest consumer of electricity. Further, businesses across the market could utilize renewable energy sources like solar, wind, biomass, or hydropower to minimize their carbon footprint & dependency on conventional fossil fuel-based electricity. Moreover, RPOs also elevate demand for renewable energy employment by requiring businesses to get a certain percentage of their energy from renewable sources.
India Renewable Energy Market Companies Analysis
With the strategic analysis & market study the leading companies, including L’Oreal, Shiseido Company Limited, Coty Inc., Estee Lauder Companies Inc., Beiresdorf AG, Unilever, Procter & Gamble, Kao Corporation, Johnson & Johnson Services Inc., and Others, are predicted to contribute in the growing market outlook.