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$ 32.45 Bn by 2027.
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 2022 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.
India Onshore Wind Energy Market 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
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India Onshore Wind Energy Market Key Players: The key players 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
• Clipper Wind Power1. Koninklijke Philips N.V.
2. Lutron Electronics Co.
3. Macroblock Inc.
4. AC Electronics
5. Atmel Corporation
6. Cree, Inc.
7. General Electric Company
8. Harvard Technology Ltd.
9. Maxim Integrated Products, Inc.
10.NXP Semiconductor N.V.
11.On Semiconductor Corporation
12.Osram GmbH
13.ROHM Semiconductors
14.STMicroelectronics
15.N.V. Manufacturers
16.Texas Instruments.
17.Toshiba
18.Atmel Corp
19.Macroblock, Inc.,
20.Fulham Company Group
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:
Which sub-segment had the largest share in the India Onshore Wind Energy Market?
How is the competitive landscape of the India Onshore Wind Energy Market in 2023?
Which are the key drivers impacting the India Onshore Wind Energy Market growth?
Which region holds the maximum share in the India Onshore Wind Energy Market?
What will be the CAGR of the India Onshore Wind Energy Market during the forecast period (2023-2029)?
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