India Wind Turbine Market By Type (Horizontal-axis Turbine, Vertical-axis Turbine), By Installation (Offshore, Onshore), By Component (Foundation, Tower, Rotor, Generator, Nacelle, Others), By Application (Industrial, Commercial, Residential, Utilities), By Capacity (Small, Medium, Large), By Rating (<100KW, 100KW to 250KW, 250KW to 500KW, 500KW to 1MW, 1MW to 2MW, >2MW), By Connectivity (Standalo

India presently has 10.3 GW worth of projects in both national and state bids, and these projects are anticipated to power installations through 2023. After 2023, approximately 10 GW of newly granted wind capacity will drive the market, mostly through hybrid projects that are becoming more crucial for the nation's "round-the-clock" electricity strategy.

Wind turbine is a system that turns kinetic energy of wind into electricity. This electrical energy is further transferred to a power grid and from the power grid the electrical energy gets transmitted to the consumer.

India’s current wind installed capacity stands at about 28 GW, which is expected to increase to 60 GW by 2022.

Furthermore, the government of India has revised the renewable energy power capacity addition targets to 175 GW by 2022. In addition to increasing the solar power capacity by five times to 100 GW by 2022, the government has announced that 60 GW of power would be contributed from the Wind Power sector. The National Institute of Wind Energy (NIWE) estimated India’s Wind potential at 49 GW at 50m height. However, at the 80m hub height, the potential grows to 102 GW. Furthermore, at the 100m hub height, the potential grows significantly to about 300 GW. Among other initiatives, key targets of the Indian government include reaching 40% power installed capacity from non-fossil-fuel-based energy resources by 2030. As a result, the demand for wind turbine is likely to grow along with the increasing solar power capacity initiatives.

India Wind Turbine MarketDrivers

The merchandise will increase across residential applications due to rising electricity demand, rapid urbanization, rising living standards, and greater electricity consumption. The utility turbine industry situation will be boosted by the government's multiple attempts to increase the share of renewable energy in overall power generation across various industrial segments. The country's continued local production facility growth and rapid industrialization will improve the business environment. The demand for wind turbines is growing quickly due to the speedy transition away from dirty, renewable energy sources like wind and solar power. The significant rise in electricity costs is fueling demand for accessible, affordable energy from renewable sources, which is boosting the market for wind turbines in India.

Moreover, technological improvements like increased-capacity wind turbines, floating Wind Turbines, have brought the general cost of wind generation to the lowest level and opened new offshore locations like deep water that was previously inaccessible because of lack of investment and technology. These developments are accelerating the adoption of wind generation across the country and are expected to supply significant opportunities for the players to enter the market.

India Wind Turbine MarketChallenges

Legacy Challenges-

Surge In Commodity Prices-

Recent Development in India Wind Turbine Market

Government Launches Scheme to Procure 4,500 MW Electricity-

Amazon Announces 300 MW Wind-Solar Hybrid Projects in India, First Such Project Globally-

India Plans USD 2 Billion Incentive for Green Hydrogen Industry-

India Needs a Doubling of Installs to Deliver on PM Modi’s 450 GW By 2030 Ambition-

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Market Segments

India Wind Turbine Market is segmented into type, installation, component, application, capacity, rating, connectivity, and region. Based on type, the market is segmented into horizontal-axis turbine and vertical-axis turbine. Based on installation, the market is segmented into offshore and onshore. Based on component, the market is segmented into foundation, tower, rotor, generator, nacelle, and others. Based on application, the market is segmented into industrial, commercial, residential, and utilities. Based on capacity, the market is segmented into small, medium, and large. Based on rating, the market is segmented into <100KW, 100KW to 250KW, 250KW to 500KW, 500KW to 1MW, 1MW to 2MW, and >2MW. Based on connectivity, the market is segmented into standalone, and grid connected. The market analysis studies the regional segmentation divided among north, east, west, and south.

Market Players

Major market players of India wind turbine market are Vestas Wind Technology India Private Limited, ReGen Powertech Pvt Ltd., Suzlon Energy Limited, Wind World (India) Limited, GE Renewable Energy, Indowind Energy Limited, Orient Green Power Company Limited, Siemens Gamesa Renewable Energy, S.A., Pioneer Wincon Energy Systems Pvt Ltd, Enercon India Pvt. Ltd.