The Report Covers India Power Market Size & Share and It is Segmented by Generation (Thermal, Hydro, Renewable, and Others) and Transmission and Distribution. The Report Offers Market Size and Forecasts in Installed Capacity for all the Above Segments.

As of March 2024, NTPC Limited, was the leading power generation and distribution company based on market capitalization. Power Grid Corporation Limited and Adani Power Limited were in the second and third positions respectively.

The Indian Data Center Power Market Report is Segmented by Power Infrastructure (Electrical Solutions (UPS Systems, Generators, Power Distribution Solutions (PDU, Switchgear, Critical Power Distribution, Transfer Switches, Remote Power Panels, and Other Power Distribution Solutions)) and Service) and End User (IT & Telecommunication, BFSI, Government, Media and Entertainment, and Other End Users). The Report Offers Market Forecasts and Size in Value (USD) for all the Above Segments.

Market Size and Growth: The Indian power industry is a rapidly expanding market, with a projected market size of USD 237.40 billion by 2033, exhibiting a strong CAGR of 8.80% during the forecast period of 2023-2033. This growth is driven by factors such as increasing electricity demand, government initiatives to expand renewable energy sources, and modernization of transmission and distribution infrastructure. Key Drivers, Trends, and Restraints: The major drivers of growth in the Indian power industry include the rising population and urbanization, leading to increased electricity consumption. Government initiatives, such as the National Solar Mission and the Ujwal Discom Assurance Yojana, have significantly contributed to the growth of renewable energy sources. Digitalization and technological advancements are also driving industry trends, improving grid efficiency and reducing distribution losses. However, restraints such as regulatory uncertainties, financial constraints, and environmental concerns may impact future growth. Recent developments include: February 2023: United States Company signed a letter of intent with the Uttar Pradesh state government ahead of the Global Investors' Summit (GIS) to invest USD 99.65 million in the new technology. The company has signed 269 letters of intent ( LoI) so far to invest in the renewable energy sector in Uttar Pradesh., February 2023: in its pursuit of meeting the growing electricity demand with renewable sources, India approved its largest hydropower project in the mountainous northeastern region neighboring China. The government has greenlit an estimated investment of USD 3.9 billion for the Dibang project, which will have a capacity of 2,880 megawatts., December 2022: the Government of India, in collaboration with the Solar Energy Corporation of India Limited (SECI) and the World Bank, finalized agreements for financial support. These agreements include a loan of USD 150 million from the International Bank for Reconstruction and Development (IBRD), a loan of USD 28 million from the Clean Technology Fund (CTF), and a grant of USD 22 million from the CTF. This funding aims to assist India in augmenting its power generation capacity by leveraging cleaner and renewable energy sources.. Key drivers for this market are: 4., Increasing Energy Demand4.; Government Support for Power Sector. Potential restraints include: 4., Financial Viability. Notable trends are: Thermal Source for Power Generation to Dominate the Market.

India Power EPC Market Outlook 2031:

The India power EPC market size was valued at USD 13.30 Billion in 2022 and is likely to reach USD 83.84 Billion by 2031, expanding at a CAGR of 22.7% during 2023–2031. The growth of the market is attributed to the increasing industrial operations across various sectors, sustained economic growth and government initiatives such as “power for all”.



India power EPC market is on the verge of significant changes that has redefined the industry outlook. Power sector in India is one of the most diversified in the world, sources of power generation include conventional sources such as coal, natural gas, oil, lignite, nuclear power, and non-conventional sources such as solar, wind, and biomass.

In 2018, India ranked fourth in wind power and fifth in renewable power installed capacity. India made significant investments in clean energy which is estimated at USD 90 billion and is only country among the G20 nations that is on track to achieve the targets under the Paris Agreement.

India power EPC market has attracted significant foreign direct investments (FDI) in the past two decades which is anticipated to be more than USD 15 billion accounting for 3% of total FDI inflow. There is a considerable interest from government of India in the power sector which has led to more focused approach in promoting sustained industrial growth in the recent years.



Electricity production was estimated at 1,252.72 billion units (BU) in FY20c and total installed capacity of power stations in India was recorded at 380 GW as of January 2021.



According to Central Electricity Authority (CEA) the share of renewable energy generation would increase from 18% to 44% by 2029-30 and thermal is expected to see reduction from 78% to 52%. The government of India plans to establish renewable capacity if 500 GW by 2030 and has allocated USD 1.4 trillion under the National Infrastructure Pipeline for FY 2019-25. India’s power consumption showed a considerable increase to 50.15 billio

The Report Covers Thermal Power Plant Companies in India and the Market is segmented by fuel type (coal, gas, nuclear, and other fuel types). The market size and forecasts are Provided in capacity (MW) for all the above segments.

India Power EPC Market size was valued at USD 16.61 Billion in 2024 and is projected to reach USD 87.63 Billion by 2031, growing at a CAGR of 23.1% from 2024 to 2031.

India Power EPC Market Drivers

Increasing Energy Demand: The global demand for energy, particularly in emerging economies, is driving the need for new power plants and infrastructure.

Renewable Energy Growth: The shift towards renewable energy sources like solar, wind, and hydro power is creating significant opportunities for EPC companies.

Aging Infrastructure: Many countries have aging power infrastructure that requires modernization and upgrades, driving demand for EPC services.

Government Initiatives: Government policies and incentives to promote energy security and sustainability are boosting investment in the power sector.

The Indian Renewables Energy Market is segmented into various product types, each with its own strengths and market dynamics: Solar energy: Driven by falling panel costs and growing distributed generation需求, the solar segment is poised for significant growth in the coming years. Wind power: India possesses abundant wind resources, making this a key segment for renewable energy generation. Advancements in turbine technology and cost reductions contribute to its competitiveness. Hydroelectric power: Traditionally a major source of renewable energy in India, hydroelectric projects face challenges related to environmental concerns and project clearances. Biomass energy: Utilizing agricultural and forestry residues, biomass energy offers a sustainable alternative for power generation and waste management. Geothermal energy: India has limited geothermal resources, and exploration and development efforts are ongoing to assess its potential for commercial exploitation. Recent developments include: January 2019:Suzlon Energy secured a 50.4 MW wind power project from Atria Power. The project involved supplying, installing, and commissioning Suzlon's S111-140m wind turbine generators (WTGs) in the Anantapur district of Andhra Pradesh, India., In February 2021, Tata Power Renewable Energy Limited (TPREL), a wholly-owned subsidiary of Tata Power, inked a deal to purchase a 100% ownership in Sterling & Wilson Private Limited's (SWPL) operating solar projects for an enterprise value of around INR 1,600 crore (roughly USD 219 million). This acquisition brought approximately 253 MW of working solar capacity to Tata Power's renewable energy portfolio., In June 2021, NTPC Limited has signed a memorandum of understanding (MoU) with the Indian Institute of Forest Management (IIFM) to carry out a project to build a green cover and eco-restoration strategy around its coal mining facilities. This collaboration is intended to promote sustainable practices and strengthen environmental conservation efforts.. Notable trends are: Increasing government initiatives and policies is driving market growth.

The market share of Indian Energy Exchange Limited in total power generation across the south Asian country was four percent at the end of fiscal year 2019. IEX is a power trading platform in India. It provides a transparent, neutral and automated platform for physical electricity delivery.

The size of the India Renewable Energy Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 10.00">> 10.00% during the forecast period. The renewable energy sector in India is experiencing significant growth as the nation seeks to diversify its energy sources and tackle urgent environmental issues. India has established ambitious objectives to enhance the proportion of renewable energy in its overall energy framework, aiming for 500 gigawatts (GW) of non-fossil fuel capacity by the year 2030. This initiative is propelled by a blend of national policy initiatives, international climate obligations, and an increasing recognition of the necessity to lower greenhouse gas emissions and address climate change. The landscape of renewable energy in India is varied, incorporating solar, wind, hydro, and biomass energy sources. Solar energy is at the forefront, supported by the country's plentiful sunlight and substantial investments in extensive solar parks and rooftop systems. Wind energy also holds significant importance, especially in areas with optimal wind conditions, such as Tamil Nadu and Gujarat. While hydropower and biomass are part of the energy mix, their expansion has been comparatively slower than that of solar and wind energy. The government has introduced a range of incentives and policy strategies to encourage the growth of renewable energy, including financial subsidies, tax incentives, and favorable regulations. Nevertheless, challenges such as limitations in grid infrastructure, financing difficulties, and land acquisition issues remain. In spite of these challenges, India’s renewable energy sector is progressing positively, demonstrating the country’s dedication to sustainable development and a cleaner energy future. Recent developments include: June 2022: Ayana Renewable Power Pvt Ltd (Ayana) announced plans to set up renewable energy projects adding up to 2 gigawatts (GWs) with an investment of USD 1.53 billion in Karnataka., February 2022: Creduce Advanced HCPL JV declared winning the bid for India's single-biggest hydropower carbon credit project with Satluj Jal Vidyut Nigam, which will make in excess of 80 million carbon credits.. Key drivers for this market are: 4., Supportive Government Policies for Developing Solar Energy4.; Declining Cost of Solar Power Technology. Potential restraints include: 4., Unpredictability in the Continuity of Power Supply. Notable trends are: Solar Segment to Witness a Significant Growth.

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India Solar Power Market Size 2025-2029

The india solar power market size is forecast to increase by USD 754 billion billion at a CAGR of 42.4% between 2024 and 2029.

The market presents significant growth opportunities for global investors and businesses seeking to expand their renewable energy footprint. Key drivers include increasing investments in renewable energy, with the Indian government committing to achieving 175 GW of renewable energy capacity by 2022. Additionally, the declining costs of solar energy, driven by technological advancements and economies of scale, make India an attractive market for solar power adoption. However, the market faces challenges, such as the availability of other energy sources and the intermittency of solar power, necessitating the need for energy storage solutions and grid integration. Companies looking to capitalize on these opportunities should focus on collaborating with local partners, investing in research and development, and offering comprehensive energy solutions to navigate these challenges effectively. India's strategic location, large population, and growing energy demand make it an essential market for solar power players seeking to expand their global footprint.

What will be the size of the India Solar Power Market during the forecast period?

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The market has experienced significant growth in recent years, driven by the country's ambitious renewable energy targets and favorable government policies. As of now, India's solar photovoltaic (PV) installed capacity exceeds 40 gigawatts (GW), making it one of the world's largest solar markets. This figure is expected to continue growing, with plans to reach 100 GW of solar power capacity by 2022. Solar power is increasingly seen as a greener way to generate electricity, providing an alternative to traditional fossil fuel-based sources and contributing to reduced carbon emissions. Solar systems, including solar panels and permits, have become more accessible and affordable, thanks in part to tax breaks and advancements in solar PV technology. India's solar sector is also exploring the integration of artificial intelligence and other innovations to optimize energy production and efficiency. Solar power and wind power are becoming increasingly competitive with traditional energy sources, offering attractive investment opportunities for businesses and individuals alike.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ApplicationGrid-connectedOff-gridEnd-userUtilityRooftopGeographyIndia

By Application Insights

The grid-connected segment is estimated to witness significant growth during the forecast period.

The Indian solar power market is experiencing significant growth, driven by the depletion of fossil fuels and government initiatives such as the National Solar Mission. Solar energy, derived from solar photovoltaic (PV) systems, is becoming a greener way to meet electricity demands. Grid-connected solar PV systems, which supply solar energy directly to building loads, are expected to witness substantial growth. However, the scarcity of land for dedicated solar cell installations poses a challenge. Despite this, declining solar energy prices and favorable regulations are propelling market expansion. Additionally, the integration of wind power through wind-solar hybrid policies is expanding the renewable energy ecosystem. Foreign investment in solar power technology, including solar panels and solar modules, is also increasing. The market encompasses solar systems, electrolyzers for green hydrogen production, and fuel cells. The Indian solar power market is poised to reach new heights, with an installed capacity of several gigawatts (GW) in the forecast period.

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The Grid-connected segment was valued at USD 44.10 billion in 2019 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of India Solar Power Market?

Increasing investments in renewable energy is the key driver of the market. The renewable energy sector in India has gained significant traction, with solar power being a key focus. As of October 2024, India's renewable energy capacity reached 201.45 GW, representing 46.3% of the country's total installed electricity generation capacity. Despite the higher cost of producing electricity from ren

The India Biomass Market Report is Segmented by Feedstock (Agriculture Waste, Wood and Woody Residue, Solid Municipal Waste, and Other Feedstocks) and Application (Power Generation, Heating, and Other Applications). The Report Offers Market Size and Forecasts for the Indian Biomass Market in Terms of Capacity (GW) for all the Above Segments.

India power rental market size is projected to exhibit a growth rate (CAGR) of 5.04% during 2025-2033. The growing urbanization and industrial activities, which lead to an increased demand for temporary power solutions during construction projects and infrastructure development, is driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on fuel type, equipment type, power rating, application, and end use industry.

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India Captive Power Generation Market Size 2025-2029

The India captive power generation market size is forecast to increase by USD 8.76 billion, at a CAGR of 7.9% between 2024 and 2029.

The market is experiencing significant growth due to several key factors. One of the primary drivers is the rise in industrial power tariffs, which has led companies to explore alternative energy sources for power generation. Another trend influencing the market is the increasing adoption of cogeneration plants, which provide both electricity and heat, enhancing energy efficiency. Further, industrial power generation continues to evolve, with a focus on cost optimization, raw materials demand management, and the integration of industrial automation and management systems. Furthermore, the shortage of coal, a traditional fuel source for captive power generation, is pushing companies to explore renewable energy alternatives, such as solar and wind power. These trends are shaping the future of the market and are expected to drive its growth in the coming years.

What will be the Size of the market During the Forecast Period?

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The market encompasses the production and consumption of electricity within industrial and commercial facilities, often through distributed generation sources such as microgrids, diesel engines, and renewable integration. This market is driven by the need for protection and reliability in power supply, as well as the pursuit of efficiency and carbon emissions reduction. Distributed generation has gained significant traction due to its ability to provide stability and resilience, particularly in the context of grid modernization and smart grid integration. 
Key trends in the market include the optimization of power electronics and automation systems, the adoption of clean and efficient solutions, and the integration of industrial demand forecasting and security strategies. The transition towards renewable energy sources and the implementation of industrial innovation are also major factors shaping the market's direction. The market is expected to grow as industries seek to improve their power supply and reduce their carbon footprint, while ensuring the security and stability of their operations.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Metals and minerals
  Sugar
  Cement
  Petrochemicals
  Others


Fuel Type

  Coal
  Diesel
  Gas
  Renewables


Ownership

  Multiple
  Single


Technology

  Reciprocating engine
  Diesel generators
  Combined heat and power (CHP)
  Gas turbine
  Steam turbine


Geography

  India

By End-user Insights

The metals and minerals segment is estimated to witness significant growth during the forecast period. The metals and minerals industry is characterized by energy-intensive processes, such as smelting, leaching, and electrowinning, which require substantial power for their operation. These processes exhibit significant load variation, posing challenges to grid stability. Consequently, captive power generation is a critical solution for the metals and minerals end-user segment. Factors influencing energy consumption in this sector include ore grade and government incentives for infrastructure development and renewable energy adoption.
Technological advancements, including lithium-ion batteries, AI, IoT, and smart solutions, are enhancing the efficiency and reliability of captive power generation. Infrastructure developments in urbanization and intensive industries, such as steel, commercial construction, aluminum smelters, and chemical plants, are driving the demand. Grid infrastructure improvements and the integration of grid-scale storage options, such as transformers and turbines, are essential for managing power consumption and preventing blackouts. Government policies, cross-subsidies, and incentives for infrastructure activities are also shaping the market.

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Market Dynamics

Our India Captive Power Generation Market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of India Captive Power Generation Market?

High industrial power tariffs are the key driver of the market. Captive power generation, where businesses own and operate their power plants, is increasingly becoming a strategic priority for intensive industries such as steel, aluminum smelters, and chemical plants in re

India Power Market was valued at USD 245 Billion in 2023 and is projected to reach USD 400 Billion by 2031 growing at a CAGR of 7% from 2024 to 2031.

Key Market Drivers:

Expansion of Renewable Energy Capacity: According to the Ministry of New and Renewable Energy (MNRE), India’s renewable energy capacity would reach 177 GW by the end of 2023, accounting for around 40% of overall power capacity in the country. The Indian government have set an ambitious goal of 500 GW of renewable energy capacity by 2030, which is resulting in considerable investments in solar, wind and other renewable energy technologies. This shift to renewables is increasing demand for energy storage solutions and grid integration technologies, which are critical to the power market’s growth.

Rising Energy Demand Due to Economic Growth: According to data from the International Energy Agency (IEA) and the Indian government

India Gensets Market size was valued at 1423.9 USD Million in 2023 and is projected to reach 2709.89 USD Million by 2030, growing at a CAGR of 9.24% during the forecast period 2024-2030.

Global India Gensets Market Drivers

The market drivers for the India Gensets Market can be influenced by various factors. These may include:

Power Demand-Supply Gap: India has been facing a serious shortage of power, particularly in rural and isolated areas. To bridge this gap, generators are a dependable backup power source that come into play especially during times of high demand and power outages.
Fast Urbanization and Industrialization: As India gets more urbanized and industrialized, there’s a greater need for a steady supply of electricity. Generator sets are frequently used by businesses, residence complexes, data centers, and industries to maintain continuous operations.
Infrastructure Development: The demand for generatorsets for construction operations, temporary power demands, and backup power for vital infrastructure is driven by the government’s focus on infrastructure development, which includes roads, trains, airports, and smart cities.
Growing Investments in IT and Telecom: As the IT industry gains traction and the telecom sector grows, there is an increasing need for dependable power backup solutions to support data centers, communication facilities, and network operations.
Expanding Agribusiness Sector: India’s economy still heavily depends on agriculture. In locations where the grid power supply is unstable, gensets are particularly important for irrigation pumps, agricultural machinery, and rural electrification programs.
Government Policies and efforts: The adoption of gensets is influenced by government policies and efforts including “Make in India,” rural electrification programs, and subsidies for renewable energy projects. These initiatives are especially significant in off-grid and isolated areas.
Technological Advancements: By providing better performance, dependability, and affordability, advances in genset technology—such as fuel economy, emissions management, remote monitoring capabilities, and hybrid power solutions—drive market expansion.
Environmental Concerns and restrictions: The need for cleaner and more fuel-efficient genset solutions, like gas-based and hybrid gensets, is driven by strict emission restrictions and growing awareness of environmental contamination.
Natural Disasters and Grid Instability: India is vulnerable to cyclones, floods, and earthquakes, all of which can cause disruptions to the infrastructure that supplies electricity. Essential backup power during emergencies and natural disasters is provided by gensets.
Energy Access in Remote Areas: When extending the grid infrastructure is not practical or financially feasible, generators are essential for supplying electricity to off-grid and remote locations.

The India power tool market is set to experience significant growth between 2025 and 2035, driven by rapid industrialization, infrastructural development, and increasing automation in various sectors. The market, valued at USD 1,856.3 million in 2025, is expected to reach USD 3,852.8 million by 2035, expanding at a compound annual growth rate (CAGR) of 7.8% during the forecast period. Growing adoption of power tools in construction, automotive, and manufacturing industries, coupled with advancements in battery-powered tools, will be key growth drivers.

Country Wise Analysis

Competitive Outlook

This statistic illustrates the share of the electrical equipment industry across India in fiscal year 2015, based on type. During the measured time period, cables accounted for the highest share, with approximately 36 percent of the electrical equipment market across the country.

NTPC Limited was the leading power producer in India as of October 2024 based on revenue, at over 21 billion U.S. dollars. The NTPC Group was also one of the leading Indian companies by net sales in 2023.

The Report Covers Wind Turbine Manufacturers in India and the Market is Segmented by Sector (Onshore and Offshore). The Installed Capacity and Forecasts for India's Wind Energy Market are provided in terms of GigaWatts (GW) for all the above segments.