India Wind Power Market - Industry Analysis, Trends, Demand, & Forecast To 2027

India Wind Power Market - Industry Analysis, Trends, Demand, & Forecast To 2027

Actual Market Research 01-01-2021 76 Pages Figures : 50 Tables : 14 Region : Asia-Pacific Country : India Category : Energy & Utility Alternative & Renewables

1. GE India Industrial Private Limited

2. Inox Wind Power Limited

3. Kenersys India Private Limited

4. ReGen Powertech Private Limited

5. RRB Energy Limited


India Wind Energy Market Definition

Wind power is considered as renewable energy source. The wind power is a form of energy in which the turbines convert the kinetic energy in mechanical or electrical energy, which can be used for power. Earlier wind power was in the form of windmills for performing tasks like grinding grains and pumping water. The modern wind turbines produce electricity by using rotating energy to operate the electrical generator. The modern turbines are made up of a blade or rotor and a nacelle, that controls the wind mill. The wind power is classified into classes that range from 1 to 7. The class of 3 or above is suitable for utility scale of wind power generation and only a few sites are suitable for 1 and 2 classes.

The size of turbines varier widely and the length of the blades is the biggest factor in determining the amount of electricity the turbine can generate. The large wind turbines have the capacity of generating up to 10 megawatts and the small ones have the capacity of generating 10 kilowatts. The large turbines are grouped together for creating wind power plants, that provide power to electricity grids.

There are basically two types of wind turbines, the horizontal-axis turbines and the vertical-axis turbines. The horizontal-axis turbines are similar to the propeller airplane’s engines, their blades are like propellers and commonly have three blades. Today most of the wind turbines use horizontal-axis turbines. The second type is the vertical-axis turbines, have blades that are attached from the top to the bottom on a vertical rotor. The turbine’s name is patented after the French engineer who has designed the same. Georges Darrieus had designed the vertical-axis turbine in the year 1931. It looks like a giant two-bladed egg beater. The usage of this turbine is less today because they do not perform well like horizontal ones. The vertical-axis turbines are 100 feet tall and 50 feet wide.

India Wind Energy Market Overview

According to Actual Market Research the report titled “India Wind Energy Market Outlook, 2026”, the market is anticipated to grow at a CAGR of more than 11% in volume by the forecasted period. In India wind energy is as an excellent renewable energy option. The growing capacity of wind energy was than more than 39 GW in the year 2020-21 and it’s forecasted to grow with CAGR of more than 11%. The country has been experiencing immersive growth with new technology advancement and significant influx of capital.

Globally, India ranks at 4th position in generating wind energy. In India wind capacity has been growing immensely and has shown a remarkable growth in last few years. Even the Government of India has set up a target of more than 175 GW for the overall renewable energy and within this more than 60 GW of wind energy capacity, that is forecasted to grow till 2026.

State wise Gujarat is known to be leading the wind power market, by installing capacity of wind energy in country. the wind energy is mainly categorized into On-shore and Off-shore wind energy. The growth rate of the On-shore wind is slightly higher than the Off-shore wind. Apart from this the government is sanctioned the Off-shore projects in many states. This is only to examine that whether the Off-shore is feasible for setting up of off-shore wind farm projects.

Renewable energy projects ongoing in various regions in India have influenced new capacity additions in power sectors. Covid-19 pandemic situation hit when sustainability had started to gain significance in the energy sector. Due to pandemic situation, expected growth in installation of wind energy is not achieved as per the target. However, in the forecasted period it is anticipated to grow with the higher CAGR.

As per research, the Ministry with the help of the National Institute of Wind Energy has installed more than 890 wind-monitoring stations in recent years. The country has also issued wind potential maps at 50m, 80m, 100m and 120m above the ground level. Due to the Covid-19 pandemic the country has installed new capacity of wind energy of more15 GW, which is compared to be very low than the other years.

Key Market Trends

In the list of renewable energy in India, is known to be the wind energy. India has a huge growth in the wind energy generating market and also expected grow with more market share in the coming years. Wind energy is known to be the oldest renewable energy source in India and today because of the new technologies introduced in the market, the anticipated forecasted market rate is high. The hurdle in the market was the Covid-19 pandemic, which affected market growth highly. The pandemic had stopped the installation of wind energy generating turbines for few months and that resulted as a decline in the market.

Key Players

1. Siemens Gamesa Renewable Energy
2. Suzlon Energy Limited
3. GE Energy India Limited
4. Inox Wind Limited
5. Vestas Wind Technology India Private Limited
6. Envision and Senvion India Private Limited

Considered in this report

• Geography: India
• Base Year: 2019-2020
• Estimated Year: 2020-2021
• Forecasted Year: 2026-2027

Aspects covered in this report

• India Wind Energy market with its value and forecast along with its segments
• Region-wise India Wind Energy market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report

• North
• South
• West
• East

Types of Wind Energy in the report

• On-Shore Wind Energy
• Off-Shore Wind Energy

“India Wind Energy Market Outlook, 2026” discusses the following aspects of wind power in India:

How it will help solving your strategic decision making process??

The report gives an in-depth understanding of wind market in India:

• India Wind Energy Market Outlook
• India Wind Energy Market Size By Cumulative Capacity & Forecast
• India Wind Energy Market Size By Region By Cumulative Capacity
• India Wind Energy Market Size By State By Cumulative Capacity
• India Wind Energy Market Size By New Installed Capacity & Forecast
• India Wind Energy Market Segmental Analysis: By Company, By Region, By State
• Product Portfolio By Company
• The key vendors in this market space

This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Report Methodology

The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various manufacturers of wind turbines in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.

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