NTPC Limited, formerly known as National Thermal Power Corporation, was the leading energy company based on market capitalization with over ** billion U.S. dollars as of December 2023. The company is owned by the Government of India and is the largest electric power-generating company in the country.

As of May 2025, NTPC Limited, was the leading power generation and distribution company based on market capitalization with *** trillion Indian rupees. Power Grid Corporation Limited and Adani Power Limited were in the second and third positions respectively.

As of March 2025, the largest battery company in India by market capitalization was Exide at around *** billion Indian rupees. It was followed by Amara Raja, with a market capitalization of approximately *** billion rupees. Exide Exide is an Indian storage battery manufacturing company based in Kolkata, India. It is the largest manufacturer of lead-acid batteries and energy storage solutions provider in the country, and its business has been growing steadily for the last few years. With the rise of electric vehicles, the company has been investing heavily in lithium-ion battery manufacturing, with more than *** billion Indian rupees as of January 2025. At the end of 2024, the company also partnered with Hyundai and Kia to locally produce EV lithium-ion batteries for the latter. EV in India Unlike other more advanced economies, two-wheelers dominate India’s EV market. In the financial year 2024, there were more than *********** electric two-wheelers sold in the country. For the electric car market, passenger EVs have seen some strong development in the last few years, which has driven demand for lithium-ion batteries. In March 2025, the Indian government ended import duties for components needed for EV battery manufacturing, boosting both the battery and EV industries.

The India Transformer Market Report is Segmented by Power Rating (Large, Medium, and Small), Cooling Type (Air-Cooled and Oil-Cooled), Phase (Single-Phase and Three-Phase), Transformer Type (Power and Distribution), and End-User (Power Utilities, Industrial, Commercial, and Residential). The Market Sizes and Forecasts are Provided in Terms of Value (USD).

The India Electric Bus Market is segmented by Fuel Category (BEV, FCEV, HEV, PHEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

Reliance Industries topped the 2023 ranking of the conglomerates with the highest market value worldwide. The conglomerate beat out major players such as Danaher, Honeywell International, 3M, Raytheon Technologies, and Siemens. Rise of Asian conglomerates European and U.S. companies remained dominant in the 2023 ranking, but Asian conglomerates are on the rise. Reliance Industries of India was the leading publicly traded Asian conglomerate in terms of market value, based on closing prices as of May 5, 2023. CK Hutchinson of Hong Kong made this year's ranking. For many years, this company had been managed by Sir Li Ka-shing, who is the **** richest individual in the world. CK Hutchison is the parent company of the Hutchison Asia Telecom Group, Cheung Kong Infrastructure Holdings, A.S. Watson Group, Husky Energy, and Hutchison Port Holdings, one of the largest marine terminal operators globally. Softbank, LG Chem, Itochu, and Mitsui were among the Asian conglomerates that made it into the top 20.

Snapshot img

India Solar Power Market Size 2025-2029

The india solar power market size is valued to increase by USD 754 billion, at a CAGR of 42.4% from 2024 to 2029. Increasing investments in renewable energy will drive the india solar power market.

Major Market Trends & Insights

By Application - Grid-connected segment was valued at USD 44.10 billion in 2022
By End-user - Utility segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 1.00 billion
Market Future Opportunities: USD 754.00 billion
CAGR from 2024 to 2029 : 42.4%

Market Summary

Solar power, a clean and renewable energy source, has emerged as a significant player in India's energy market. Driven by government initiatives, such as the National Solar Mission, and falling technology costs, solar power capacity has experienced exponential growth. The Indian solar market is expected to reach 60 GW by 2022, according to estimates from various industry experts. Several factors have contributed to this expansion. The declining cost of solar panels and solar energy, coupled with increasing energy demand, have made solar power a financially viable alternative to traditional energy sources. Additionally, advancements in energy storage technology have addressed the intermittency challenges associated with solar power, further boosting its appeal. However, the market faces challenges as well. These include regulatory hurdles, such as inconsistent policies and complex bureaucratic procedures, which can hinder project implementation. Moreover, the availability of other energy sources, such as coal and natural gas, can impact the competitiveness of solar power. Despite these challenges, the future of solar power in India looks promising. The Indian government's continued focus on renewable energy and international collaborations can help address regulatory issues and drive innovation. Furthermore, the growing demand for sustainable energy solutions and advancements in technology are expected to further fuel the growth of the solar power market. In conclusion, the market is undergoing a transformative period, driven by government initiatives, declining costs, and increasing demand. While challenges persist, the future looks bright for this clean and renewable energy source.

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

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Solar Power in India Market Segmented and what are the key trends of market segmentation?

The solar power in india industry 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-userUtilityRooftopTechnologySolar Photovoltaic (PV)Concentrated Solar Power (CSP)ComponentSolar PanelsInvertersBatteriesMounting SystemsGeographyAPACIndia

By Application Insights

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

Amidst the global shift towards renewable energy sources, the Indian solar power market is experiencing robust growth. Capacity factor analysis reveals that grid-tied inverters, which supply solar energy directly to the grid without energy storage, account for a significant portion of this expansion. Solar power forecasting and solar energy storage solutions, including solar farm development and energy yield optimization, are also crucial components of this evolving landscape. Despite challenges such as grid integration and the scarcity of land for solar panel installations, the market is propelled forward by the depletion of fossil fuels, declining solar energy costs, and favorable renewable energy policies. For instance, the National Solar Mission has been instrumental in expanding energy access and promoting distributed generation systems, including rooftop solar installations. The solar resource assessment, photovoltaic cell efficiency, and solar radiation data are essential factors in optimizing energy infrastructure development. The solar industry is witnessing advancements in PV module testing, solar panel degradation analysis, and solar thermal technology. String inverters and power electronic converters are crucial components in the solar value chain. Moreover, energy efficiency measures, microgrid stability, and off-grid solar solutions are gaining traction as the market continues to evolve. The solar energy potential in India is substantial, with an estimated 300-350 GW of solar power capacity by 2030. This growth is expected to significantly contribute to the country's energy infrastructure development and reduce reliance on fossil fuels.

Request Free Sample

The Grid-connected segment was valued at USD

The India Laser Market Report is Segmented by Laser Type (Fiber, Solid-State, CO₂, Diode, Excimer/UV, Ultrafast Fiber, and More), Power Output (Low, Medium, and High), Application (Material Processing, Medical, Communication, Defense, R&D, Electronics, and More), End-User (Automotive, Healthcare, Electronics, Aerospace and Defense, and More). The Market Forecasts are Provided in Terms of Value (USD).

Snapshot img

Industrial Enclosures Market Size 2025-2029

The industrial enclosures market size is forecast to increase by USD 2.62 billion at a CAGR of 5.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing use of electrical and electronic equipment in manufacturing processes and the expansion of the smart cities industry. These trends are fueling the demand for robust and reliable enclosure solutions to protect and house these critical components. However, market growth is not without challenges. Volatile input costs, particularly for raw materials, have intensified price competition among market participants. Furthermore, regulatory hurdles impact adoption, as stricter safety and environmental regulations necessitate higher production costs and more stringent testing procedures. To capitalize on market opportunities and navigate these challenges effectively, companies must focus on innovation, operational efficiency, and strategic partnerships. Furthermore, the expansion of smart cities is leading to increased adoption of industrial automation systems, thereby boosting the market
By investing in research and development to create advanced, cost-effective enclosure solutions that meet evolving regulatory requirements, companies can differentiate themselves and capture market share. Additionally, collaborating with suppliers and industry partners to mitigate the impact of volatile input costs and optimize supply chain operations can help ensure a stable and profitable business. Overall, the market presents significant growth potential for companies that can navigate these challenges and deliver value to customers through innovative, reliable, and cost-effective solutions. The increasing adoption of renewable energy sources and the electrification of industries will continue to drive the demand for industrial enclosures.

What will be the Size of the Industrial Enclosures Market during the forecast period?

Request Free Sample

The market is characterized by continuous innovation, with manufacturers focusing on developing enclosures that adhere to stringent regulations while offering optimal deployment solutions. Enclosure support services and warranty are crucial aspects of the market, ensuring seamless integration and maintenance throughout the product lifecycle. Logistics and cost optimization are also key trends, with enclosure manufacturers providing simulation tools and value engineering to streamline the deployment process. Enclosure trends include advanced ergonomics, remote management, and security features, enabling businesses to optimize performance metrics and enhance safety. Standards and certification play a significant role in the market, with enclosure engineering prioritizing sustainability, durability, and integration. The market in the US is experiencing significant growth due to increasing global energy consumption in energy-intensive industries such as manufacturing, oil and gas, and power generation.
Value-added services, such as customization, connectivity, and monitoring, are becoming increasingly important, providing businesses with flexibility and improved operational efficiency. Enclosure materials and finishes are also evolving to meet the demands of various applications, ensuring reliability, aesthetics, and compliance with industry regulations. As the market continues to evolve, enclosure manufacturers are focusing on enhancing enclosure performance metrics and engineering, enabling businesses to make informed decisions and optimize their industrial operations. Lifecycle management and safety remain top priorities, with enclosure manufacturers offering comprehensive solutions to help businesses navigate the complexities of enclosure deployment and maintenance.

How is this Industrial Enclosures Industry segmented?

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

End-user

  Process
  Discrete


Type

  Metallic
  Non-metallic


Product

  Junction boxes
  Control cabinets
  Server racks
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The process segment is estimated to witness significant growth during the forecast period. The market is driven by the need for protecting various types of equipment used in manufacturing processes from environmental hazards. In 2024, the process segment dominated the market, with significant demand coming from power generation, oil and gas, chemical and petrochemical, food and beverages, and pharmaceutical industries. These industries rely heavily on machi

Snapshot img

Home Services Market Size 2025-2029

The home services market size is forecast to increase by USD 1029.6 billion, at a CAGR of 10.5% between 2024 and 2029.

Major Market Trends & Insights

North America dominated the market and accounted for a 46% growth during the forecast period.
By the Type - Home care and design segment was valued at USD 645.00 billion in 2023
By the Deployment - Offline segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 141.56 billion
Market Future Opportunities: USD 1029.60 billion 
CAGR : 10.5%
North America: Largest market in 2023

Market Summary

The market continues to expand, with significant growth observed in various sectors. According to recent studies, the market size was valued at over USD 400 billion in 2020 and is projected to reach USD 650 billion by 2027, representing a substantial compound annual growth. This growth is driven by increasing consumer demand for convenience, technological advancements, and the rise of the sharing economy. Home security services, including smart home systems and professional monitoring, experienced a notable increase in adoption rates, with over 25% of US households owning a smart home device in 2020. Similarly, home repair and maintenance services, such as plumbing, electrical, and HVAC, are witnessing a shift towards digital platforms, with online booking and payment systems becoming increasingly popular.
Moreover, the market's ongoing evolution is characterized by the integration of artificial intelligence and machine learning, enabling predictive maintenance and personalized customer experiences. This technological innovation is expected to further fuel market growth, as consumers increasingly seek efficient and customized solutions for their home needs.

What will be the Size of the Home Services Market during the forecast period?

Explore market size, adoption trends, and growth potential for home services market Request Free Sample

The market encompasses a wide range of offerings, including, but not limited to, furniture assembly, termite treatment, pet sitting, window cleaning, and more. According to recent data, this market currently accounts for approximately 40% of total household spending in the US. Looking forward, growth is expected to remain steady, with a projected increase of around 3% year-over-year. Considerable differences exist between various sub-sectors. For instance, the demand for emergency services, such as electrical and plumbing, tends to be more consistent compared to seasonal offerings like lawn care and exterior painting.
In 2020, emergency services accounted for roughly 15% of the market share, while lawn care services represented approximately 10%. These figures underscore the market's dynamic nature and the potential for diverse business opportunities. By staying informed and adaptive, companies can capitalize on emerging trends and customer needs.

How is this Home Services Industry segmented?

The home services industry 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.

Type

  Home care and design
  Repair and maintenance
  HWB
  Others


Deployment

  Offline
  Online


Service Provider Type

  Independent Contractors
  Small Businesses
  Franchises
  Large Enterprises


Business Model

  Commission-Based Platforms
  Subscription-Based Platforms
  Direct Service Provision


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    UK


  Middle East and Africa

    UAE


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The home care and design segment is estimated to witness significant growth during the forecast period.

The market comprises a multifaceted industry, encompassing various sectors such as appliance repair, electrical wiring upgrades, fence installation, electrical panel upgrades, kitchen renovation services, sprinkler system repair, water heater installation, exterior cleaning services, bathroom remodeling projects, and more. This market segment exhibits a high degree of fragmentation, with both local and international players catering to the diverse needs of homeowners.

For instance, appliance repair technicians address issues related to malfunctioning appliances, while electrical wiring upgrades ensure the safety and efficiency of electrical systems. Electrical panel upgrades enhance the capacity and reliability of power distribution, and fence installation services add value and privacy to properties. Kitchen renovation services and bathroom remodeling projects transform living spaces, while

The rolling stock market was estimated to be worth just under **** billion U.S. dollars in 2023, with Asia-Oceania accounting for the largest share. Rolling stock market in Asia-Pacific Among the largest and fastest-growing countries within the Asia-Pacific region for rolling stock are India and China, with Indian Railways and CRRC ranked as key market players for this region. Reasons contributing to expansion in countries such as India include a growing population and a considerable number of migrant workers who rely on rail as a means of commuting. Back in 2020, there were approximately *** million migrant workers in China. Driving innovation in the sector One of the world’s leading rolling stock manufacturers, CRRC, reported investments of over ** billion Chinese yuan in its research and development activity in the 2022 financial year. As the company continues to develop and manufacture innovative technologies, such as electric and hybrid rail systems, CRRC has started to address concerns about sustainability and emissions while ensuring that it maintains a technological advantage over its competitors in the global market.

In the financial year 2024, Hero MotoCorp was the leading two-wheeler manufacturer in India, with a market share of ***percent. The volume of two-wheelers sold across India during the same period almost reached **** million units, which was an increase from the previous year’s ***million units. Two-wheel vehicles industry in India Two-wheel vehicles are divided into three subcategories in India, namely, motorcycles, scooters, and mopeds. They had made up the majority of motor vehicles produced in India, far exceeding passenger vehicles. As the leading manufacturer in India, Hero MotoCorp was also the world’s largest manufacturer of two-wheel vehicles. Meanwhile, the leading foreign manufacturers were exclusively Japanese companies. It was mostly because in the *****, when the Indian government lessened the restrictions on foreign investments, Japanese companies formed joint ventures with Indian companies to produce two-wheel vehicles for the local market. Even after the termination of most of these joint ventures in the ***** and *****, Japanese manufacturers maintained their presence in India.  Two-wheel vehicles market in India Currently, the new growth point for the industry is electric scooters and motorcycles. Many of the leading manufacturers have already started the production of electric vehicles. The Indian government has set a goal to electrify a major part of India’s two-wheelers and has provided considerable financial incentives. However, because of the impact of the COVID-19 pandemic on the sales of automobiles in India, the electrification target might be delayed. More investment in the electricity infrastructure, especially the renewable energy sector, could potentially accelerate the process.

Ola Electric dominated the electric two-wheeler market in India, with a share of ** percent in financial year 2023. This was followed by Okinawa and Hero, having a share of ** percent and ** percent, respectively.

Partial Discharge Testing Services Market Outlook

According to our latest research, the Global Partial Discharge Testing Services market size was valued at $620 million in 2024 and is projected to reach $1.18 billion by 2033, expanding at a robust CAGR of 7.5% during the forecast period of 2025–2033. This significant growth trajectory is primarily driven by the increasing need for reliable and continuous power supply across critical infrastructure, coupled with the aging grid assets in developed economies and rapid industrialization in emerging markets. Partial discharge testing services have become essential for the early detection of insulation faults in high-voltage equipment, thereby minimizing downtime, reducing catastrophic failures, and ensuring the operational safety of electrical assets. The market is also benefiting from advances in sensor technology, data analytics, and the growing adoption of predictive maintenance strategies among utilities and industrial end-users.

Regional Outlook

North America currently commands the largest share of the Partial Discharge Testing Services market, accounting for approximately 33% of the global market value in 2024. This dominance is attributed to the mature utility infrastructure, widespread adoption of advanced grid monitoring solutions, and stringent regulatory mandates on electrical asset safety. The region’s proactive approach towards grid modernization, coupled with significant investments in upgrading aging transmission and distribution networks, has bolstered the demand for partial discharge testing across both utilities and large industrial facilities. Furthermore, the presence of leading service providers and technology innovators, particularly in the United States and Canada, has accelerated the deployment of state-of-the-art testing methodologies, including online monitoring and real-time diagnostics, thereby maintaining North America’s leadership in this sector.

The Asia Pacific region is poised to be the fastest-growing market, forecasted to expand at a CAGR exceeding 9% through 2033. This remarkable growth is fueled by rapid urbanization, escalating energy demand, and substantial investments in new power generation and transmission projects across China, India, Japan, and Southeast Asia. The region’s utility and industrial sectors are increasingly adopting partial discharge testing services to ensure the reliability and longevity of high-value electrical assets amidst rising incidences of grid failures and blackouts. Government-led initiatives to upgrade electrical infrastructure, implement smart grid technologies, and promote renewable energy integration are further propelling the market. A burgeoning manufacturing base, coupled with increased awareness about preventive maintenance, is driving the adoption of both onsite and online monitoring services, making Asia Pacific a hotspot for market expansion.

Emerging economies in Latin America, the Middle East, and Africa are gradually embracing partial discharge testing services, albeit at a slower pace due to budgetary constraints and limited technical expertise. In these regions, market growth is primarily concentrated in urban centers and industrial hubs where electrical reliability is critical. Localized demand is shaped by infrastructure modernization projects, the increasing prevalence of distributed energy resources, and the gradual enforcement of international safety standards. However, challenges such as inadequate regulatory frameworks, limited skilled workforce, and the high initial cost of advanced testing solutions hamper widespread adoption. Despite these hurdles, international service providers are forging strategic partnerships with local players to tap into untapped potential, offering customized solutions and training programs to accelerate market penetration.

Report Scope