India Wind Turbine Market is Expected to Register a 7.10% CAGR Through 2031
Government Policies & Incentives and Abundant Wind
Resources & Geographical Diversity are likely to propel the market during
the forecast period.
According to
TechSci Research report, “India Wind Turbine Market – By Region,
Competition, Forecast and Opportunities, 2021-2031F”, India Wind Turbine Market was valued at USD 3.18
Billion in 2025 and is expected to reach USD 4.84 Billion by 2031 with a CAGR
of 7.10% during the forecast period.
Indian wind turbine market is the rapid
progress in wind turbine technology and manufacturing capabilities. Over the
past decade, substantial improvements in turbine design, materials, and digital
control systems have made wind energy more efficient, cost-effective, and
adaptable to a wider range of environmental conditions.
Modern wind turbines are larger, more
reliable, and capable of operating in lower wind speeds than earlier models.
Innovations such as taller towers, longer blades, and variable-speed generators
have significantly increased energy output per unit, reducing the levelized
cost of electricity (LCOE). These advances make wind projects economically
viable even in regions with moderate wind resources, thus broadening the scope
for development across India.
Indian manufacturers have also made
considerable strides in producing turbines locally. Companies like Suzlon, Inox
Wind, and global players with Indian operations (such as Siemens Gamesa and
Vestas) have established robust supply chains and manufacturing bases within
the country. This not only reduces import dependence and project costs but also
supports the “Make in India” initiative by creating jobs and boosting
industrial growth.
Digitalization and smart grid
integration are further enhancing the performance and monitoring of wind
turbines. Technologies like predictive maintenance, real-time analytics, and
remote control systems help improve operational efficiency, reduce downtime,
and extend the lifespan of turbines. These tools make wind projects more
attractive to investors by minimizing risks and optimizing returns. Furthermore,
advancements in energy storage and hybrid systems are enabling better
integration of wind power into the national grid. Battery technologies and
smart inverters allow for energy storage during peak production times and
supply during low wind periods, thereby improving grid reliability and
stability.
Ongoing R&D efforts, both
domestically and internationally, continue to push the boundaries of what wind
energy can achieve. As these technologies mature and become more accessible,
they significantly lower the cost and increase the adoption of wind turbines
across India.
Browse over XX Market
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Based
on Application, The utilities segment dominates the India wind turbine market
primarily due to the scale and nature of wind energy projects in the country.
Utility-scale wind farms, typically comprising multiple high-capacity turbines,
form the backbone of India’s renewable energy infrastructure. Several key
factors contribute to the dominance of utilities in this market.
Large
utilities have the financial capacity and technical expertise required to
develop, operate, and maintain wind farms, which often demand significant
capital investment and sophisticated project management. Wind energy projects
require substantial upfront costs for turbine procurement, land acquisition,
grid connectivity, and installation. Utilities and large independent power
producers (IPPs) are better positioned to absorb these costs and secure
financing compared to smaller players or individual consumers.
India’s
renewable energy policies and competitive bidding mechanisms have favored
large-scale wind projects. Government tenders and auctions are typically
designed for utility-scale capacities, often in the tens or hundreds of
megawatts, encouraging developers to bid for large contracts. This model
supports economies of scale, reducing the cost of power generation and
improving the financial viability of projects.
Utility-scale
wind farms are connected to the central grid, allowing generated electricity to
be distributed across regions to meet growing industrial and residential
demand. Utilities play a crucial role in integrating renewable energy into the
national grid, balancing supply and demand, and ensuring stable power delivery.
Additionally, the focus on decarbonizing the power sector aligns with
utilities’ mandate to provide cleaner energy solutions at scale. Many
state-owned and private utilities have committed to increasing their renewable
energy portfolios to meet India’s ambitious climate targets.
Based on Region,
North India has emerged as
the fastest-growing region in the Indian wind turbine market due to a
combination of favorable wind resources, supportive policy initiatives, and
increasing energy demand. States like Rajasthan, Madhya Pradesh, Haryana, and
Uttar Pradesh have witnessed significant wind capacity additions, driving
growth in this region.
One
key factor contributing to North India’s rapid expansion is its vast and
untapped wind potential. Rajasthan, in particular, has some of the highest wind
speeds in the country, especially in the Jaisalmer and Barmer districts. These
areas provide excellent conditions for large-scale wind farm installations,
attracting both domestic and international developers. As technology advances,
turbines with higher hub heights and larger rotor diameters can efficiently
harness wind even in regions previously considered marginal, further boosting
capacity growth in North India.
Government
support has also played a crucial role. Several northern states have introduced
favorable policies, including attractive tariffs, streamlined land acquisition
processes, and dedicated renewable energy zones. The central government’s push
for renewable energy integration through green energy corridors has enhanced
grid connectivity in North India, reducing transmission bottlenecks that
previously hindered project development. Additionally, the region’s growing
industrialization and urbanization have led to increased electricity demand,
encouraging utilities and private companies to invest in clean energy sources.
Corporations in North India are increasingly entering power purchase agreements
(PPAs) with wind power producers to meet sustainability goals, driving market
expansion.
Another
important factor is the diversification strategy of developers and investors
who are expanding beyond traditional wind hubs in southern and western India.
This geographic diversification reduces dependency on limited regions and
spreads economic benefits more evenly.
Major companies
operating in the India Wind Turbine Market are:
- Vestas Wind
Systems A/S
- Siemens Gamesa
Renewable Energy, S.A.
- General
Electric Company (GE Renewable Energy)
- Nordex SE
- Goldwind
Science & Technology Co., Ltd.
- Envision Energy
- Suzlon Energy
Limited
- Mingyang Smart
Energy Group Co., Ltd.
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“The India wind turbine market presents
a substantial opportunity driven by the country’s ambitious renewable energy
targets, rising electricity demand, and strong government support. With an
estimated onshore wind potential exceeding 300 GW and increasing interest in
offshore wind development, India offers a vast, underutilized resource base.
The shift towards wind-solar hybrid systems, advancements in turbine
technology, and competitive bidding frameworks further enhance market
attractiveness. Additionally, India’s commitment to achieving net-zero
emissions by 2070 positions wind energy as a critical pillar in its energy
transition, creating long-term opportunities for domestic manufacturers, global
investors, and project developers across the value chain.”
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“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 Rating (<100KW, 100KW to 250KW, 250KW to 500KW,
500KW to 1MW, 1MW to 2MW, >2MW), By
Region, Competition, Forecast & Opportunities, 2021-2031F”,
has evaluated the future growth potential of India Wind Turbine 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 Turbine Market.
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