India Wind Power Market is Expected to Register a 6.89% CAGR Through 2031
Government Policies & Supportive Regulatory Framework
and Increasing Demand for Clean & Sustainable Energy are likely to propel
the market during the forecast period.
According to
TechSci Research report, “India Wind Power Market – By Region,
Competition, Forecast and Opportunities, 2021-2031F”, India Wind Power Market was valued at USD 9.11
Billion in 2025 and is expected to reach USD 13.71 Billion by 2031 with a CAGR
of 6.89% during the forecast period.
The India wind power market has
witnessed a surge in interest from both private sector players and foreign
investors, which is a vital factor driving its expansion. The private sector’s
involvement brings in much-needed capital, innovation, and efficiency to
develop, operate, and maintain wind power projects at scale.
Domestic companies, ranging from large
conglomerates to specialized renewable energy firms, are increasingly entering
the wind power space to diversify their energy portfolios and capitalize on the
sector’s growth potential. These companies bring expertise, project management
skills, and local market knowledge that help navigate regulatory and
operational challenges effectively.
Foreign investment flows into India’s
wind energy sector have also increased significantly. Multinational
corporations, international financial institutions, and green energy funds see
India as a promising market due to its favorable policies, large untapped wind
potential, and growing electricity demand. This influx of capital enables the
deployment of large-scale projects and the adoption of cutting-edge technology.
Joint ventures and partnerships between
Indian firms and global players facilitate knowledge transfer and enhance
project quality. International funding agencies often provide concessional
loans and risk mitigation instruments, reducing the financial risk associated
with wind projects. Additionally, the increasing trend of corporate power
purchase agreements (PPAs) with renewable energy developers attracts private
capital, as companies look to secure sustainable power sources for their
operations. The robust private sector and foreign investor engagement thus
create a vibrant ecosystem that accelerates project development and drives the
expansion of the wind power market in India.
Browse over XX Market
data Figures spread through XX Pages and an in-depth TOC on " India Wind Power Market.”
Based
on Turbine Capacity, The dominance of 1 MW to 3 MW wind turbines in the India
wind power market can be attributed to several practical, economic, and
technical factors that align well with the country’s wind energy landscape and
development needs.
Turbines
within the 1 MW to 3 MW capacity range strike an optimal balance between
efficiency and cost-effectiveness for India’s typical wind conditions. Many
wind sites across India, especially in well-established wind belts like Tamil
Nadu, Gujarat, and Maharashtra, have moderate to good wind speeds where
turbines in this capacity range perform reliably. Larger turbines often require
higher and more consistent wind speeds to operate efficiently, which may not be
available at many onshore locations in India.
The
1-3 MW turbines are easier to manufacture, transport, and install within
India’s existing infrastructure constraints. India’s domestic wind turbine
manufacturing industry has developed significant expertise in producing these
mid-sized turbines, supporting local supply chains and reducing dependency on
expensive imports. These turbines also fit well with the transportation and
logistical capabilities in many regions, where moving larger components can be
challenging and costly due to road and terrain limitations.
From
a financial perspective, turbines in this size range provide an attractive
return on investment for developers. They require moderate capital expenditure
while generating substantial power, enabling quicker project payback periods.
This is particularly important in India’s competitive renewable energy market,
where cost efficiency drives project selection.
Moreover,
these turbines allow for greater flexibility in project design. Developers can
install multiple 1-3 MW units to tailor capacity to site-specific conditions
and available land, optimizing wind farm layouts and power output. This
modularity also helps in phased project development, allowing scaling over time
as demand and financing availability evolve.
Based
on Region, North India is emerging as the
fastest-growing region in the India wind power market due to a combination of
favorable factors that enhance its attractiveness for wind energy development.
Traditionally, wind power growth in India was concentrated in southern and
western states such as Tamil Nadu, Gujarat, and Maharashtra. However, North
India’s recent surge reflects evolving market dynamics and strategic
advantages.
One
key driver is the increasing availability of suitable wind sites in northern
states like Rajasthan, Haryana, Punjab, and Uttar Pradesh. These areas benefit
from favorable wind conditions, particularly in the desert and semi-arid
regions of Rajasthan and parts of Haryana, which offer consistent wind speeds
conducive to efficient power generation. This expanding wind resource base has
encouraged developers to explore and invest heavily in these locations.
Government
policies and initiatives have also played a significant role. The central and
state governments in North India have introduced attractive incentives,
streamlined regulatory frameworks, and renewable energy purchase obligations
that encourage investments in wind projects. Rajasthan, for example, has become
a hotspot due to its proactive policies, abundant land availability, and strong
commitment to renewable energy targets.
Infrastructure
improvements, including better grid connectivity and transmission upgrades in
northern states, have addressed some earlier bottlenecks, making it easier to
evacuate wind power and integrate it into the regional grid. Enhanced
transmission capacity reduces curtailment issues and ensures reliable delivery
of wind-generated electricity to demand centers. Additionally, North India’s
rising industrialization and urbanization have increased electricity demand,
driving the need for sustainable energy sources. The presence of large
commercial and industrial consumers interested in green energy further fuels
wind power adoption.
Major companies
operating in the India Wind Power Market are:
- Vestas Wind
Systems A/S
- Siemens Gamesa
Renewable Energy S.A.
- General
Electric Company
- Goldwind
Science & Technology Co., Ltd.
- Nordex SE
- Enercon GmbH
- Suzlon Energy
Limited
- MingYang Smart
Energy Group Co., Ltd.
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“The India wind power market presents a
substantial opportunity driven by the country’s ambitious renewable energy
targets, abundant wind resources, and supportive government policies. With a
growing demand for clean energy to address environmental concerns and energy
security, wind power offers a cost-effective and sustainable solution.
Advancements in technology and increasing private sector investment further
enhance market potential. Additionally, emerging segments like offshore wind
and hybrid renewable projects open new avenues for growth. Collectively, these
factors position India’s wind power sector as a critical contributor to the
nation’s energy transition and a lucrative market for investors and developers.”
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“India Wind Power Market,
By Application (Residential, Commercial Industrial), By
Installation (Onshore, Offshore), By Turbine Capacity (100 KW, 100 KW to 500
KW, 500 KW to 1 MW, 1MW to 3 MW, Less than 3 MW) By Region, Competition,
Forecast & Opportunities, 2021-2031F”, has evaluated the future growth potential of India Wind
Power Market and provides statistics & information on Market size,
structure and future Market growth. The report intends to provide cutting-edge Market
intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the India Wind Power Market.
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