In financial year 2012, about 44 percent of average energy from food consumed by rural adults in a day consisted of cereals and millets in India. This accounted for about 394.4 grams of food consumption per day that year.

According to Cognitive Market Research, the Power Generation Market Size will be USD XX Million in 2024 and is set to achieve a market size of USD XX Million by the end of 2033 growing at a CAGR of XX% from 2025 to 2033.

North America expected to generate revenue of XX%.

Europe expected to generate revenue of XX%

Asia pacific is projected to reach XX BY 2030 .

Latin America expected to generate revenue of XX%

Middle East africa expected to generate a revenue of XX%

South America expected to generate a revenue of XX%

Market Dynamics

Key Driver

Rapid urbanization and industrialization is creating the global demand of power generation market 

With growing urbanization and industrialization, the power requirement is increasing day by day depending upon usage pattern, End Requirement for instance Urban areas in India experience a significantly higher per capita electricity consumption compared to rural areas. This is due to factors like higher urbanization rates, more industrial activity, and a greater reliance on air conditioning and other power-intensive appliances. For instance, Per capita electricity consumption in India has surged to 1,395 kWh in 2023-24, marking a 45.8% increase (438 kWh) from 957 kWh in 2013-14.

Similarly with industrialization caused huge power consumption The manufacturing industry, particularly sectors like chemicals, metals, and paper, are the largest consumers of energy in India. According to British thermal unit chemical industry, Petroleum industry, Paper industry, Metal industry uses 16.9 quadrillion of power

Recent data shows that Global electricity consumption it grew faster than its historical trend (+2.2% in 2023), spurred by the BRICS (+5.1%), which accounted for 42% of the global energy consumption in 2023: energy consumption surged in China (+6.6%, twice its 2010-2019 average), India (+5.1%, slightly faster than the historical average), accelerated in Brazil (+3.3%, vs. +0.9% per year over 2010-2019), but it stagnated in Russia (+0.3%) and declined again in South Africa over supply issues (-1.2%). It also increased in the Middle East (+3.7%, with strong growth in Iran and the UAE), as well as in Algeria, Vietnam, and Indonesia.

Source - https://www.pib.gov.in/PressReleasePage.aspx?PRID=2089243

https://beeindia.gov.in/sites/default/files/BEE_India_Energy_Scenario_Report-2024_web_version-rev2.pdf

https://consumerenergysolutions.com/what-industries-consume-most-electricity/

https://yearbook.enerdata.net/total-energy/world-consumption-statistics.html

Sustainable Practices creating market opportunities for Power Generation 

Sustainable practices increase the demand for power generation by driving demand for renewable energy sources and creating new avenues for energy production. It involves extracting maximum renewable energy utilization. At the UNFCCC's COP28, 130 countries pledged to triple the world's renewable energy capacity and double the annual rate of energy efficiency improvements by 2030.The revised EU Renewable Energy Directive of 2023 sets a new target of 42.5% of renewable energy by 2030 and aims for 45%. Member States have since submitted their renewable energy targets for sub-sectors including transport, buildings and industry. Similarly in India policies like the Jawaharlal Nehru National Solar Mission (JNNSM). This was started in 2010 and the goal of this program is to transform India into a solar power hub by establishing a sound environment for the generation of solar energy. The mission was set at 20 GW of solar capacity by 2022, but due to the fast-growing solar industry, the mission has been adjusted to 100 GW. Also Big investors are coming and investing in this renewable energy market like recently Adani has signed an agreement for 400 MW of solar power in UP In India certain initiatives government have created in order to lead the country towards less carbon emissions and more towards green energy initiatives. Certain schemes devised by Government are as following PM Surya Ghar, Muft Bijli Yojana, National Green Hydrogen, Mission According to PM Surya Ghar yojana average monthly consumption of 150 units subsidy support of 30,000 to 60,000 provided by government Similarly for 150-300 units consumption subsidy amount is increased to 60,000 to 78,000. So, because of this it is driving the consumer behavior from nonr...

In financial year 2012, about 69 percent of average energy intake from food consumed by rural adults in a day consisted of cereals and millets in eastern India. Pulses and legumes were the second highest source of energy for the rural east Indians.

In financial year 2012, about 63 percent of average energy intake from food consumed by rural adults in a day consisted of cereals and millets in western India. Fats and edible oils were the second highest source of energy for the rural western Indians.

Solar Home Lightings Market Outlook

The solar home lighting market is poised for significant growth, with the global market size reaching approximately USD 6.8 billion in 2023 and projected to soar to USD 12.5 billion by 2032, at a robust compound annual growth rate (CAGR) of 7%. This impressive growth trajectory is accelerated by the increasing global emphasis on sustainable and renewable energy sources, driven by escalating concerns over climate change and the depletion of non-renewable resources. As governments and consumers alike prioritize the reduction of carbon footprints, solar energy solutions, especially in home lighting, have gained substantial momentum across various regions.

One of the primary growth factors in the solar home lightings market is the increasing awareness and adoption of renewable energy. As the world grapples with the adverse effects of climate change, there is an urgent push towards sustainable solutions, with solar energy emerging as a frontrunner. The cost-effectiveness of solar solutions is also a compelling factor, with technological advancements making solar panels and systems more affordable for the average consumer. Furthermore, the long-term savings on electricity bills and the potential for government incentives and subsidies boost consumer inclination towards solar home lighting systems. This trend is likely to persist as more countries introduce policies favoring renewable energy deployment.

Technological advancements have also played a crucial role in propelling the market forward. Innovations in solar technology have not only made products more efficient but have also diversified their application. The integration of smart technology with solar home lighting systems has made them more appealing, offering features like remote monitoring and control via mobile applications. This has led to a wider acceptance among tech-savvy consumers. Additionally, improvements in battery storage technology have enhanced the reliability of solar lighting systems, ensuring consistent performance even in regions with less sunshine, further expanding the market’s reach.

Socio-economic factors also contribute significantly to the market's growth. In developing regions, where access to reliable electricity is limited, solar home lighting provides an invaluable solution. Programs and initiatives by international organizations aimed at electrifying rural areas have increasingly utilized solar technology due to its sustainability and scalability. Moreover, as urban areas become more conscious of their energy consumption patterns, there is a noticeable shift towards adopting solar lighting solutions in residential, commercial, and even industrial settings. This broad-based adoption across various demographic and economic segments underlines the market's potential for sustained growth.

Regionally, Asia Pacific emerges as a significant player in the solar home lighting market, driven by the rapid industrialization and urbanization happening across countries like China and India. Government initiatives in these countries, aimed at promoting sustainable energy sources, further catalyze the market's expansion. Meanwhile, North America and Europe are also witnessing substantial growth, spurred by environmental policies and consumer awareness about renewable energy benefits. In contrast, Latin America and the Middle East & Africa regions, though currently smaller in market size, present untapped potential given their high solar insolation levels and increasing demand for energy solutions.

Product Type Analysis

The solar home lighting market is segmented into off-grid and on-grid systems, each serving distinct needs and applications. Off-grid solar home lighting systems are particularly popular in remote and rural areas where grid connectivity is limited or non-existent. Their ability to provide reliable and independent energy solutions without reliance on centralized power infrastructure makes them an attractive option for rural electrification programs. These systems typically come equipped with solar panels, batteries, and inverters that allow for energy storage and usage during non-sunny periods, catering to basic lighting and power needs effectively.

On-grid solar home lighting systems, on the other hand, are tailored for urban and semi-urban settings where grid connectivity is available. These systems are designed to complement and reduce dependence on traditional electricity sources. By feeding excess generated solar power back into the grid, they offer benefits like net metering, thereby reducing electricity bills and contribut

In financial year 2012, about 65 percent of average energy intake from food consumed by rural adults in a day consisted of cereals and millets in southern India. Visible fats and oils were the second highest source of energy for the rural south Indians.