Report Code: CMI43774

Published Date: March 2024

Pages: 320+

Category: India

Report Snapshot

CAGR: 2.16%
22.2M
2023
22.6M
2024
28.3M
2033

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: India
Largest Market: India

Major Players

  • Avantgarde
  • Enercon
  • LAVANCHA RENEWABLE ENERGY PVT. LTD.
  • Revayu Energy
  • SPITZEN ENERGY SOLUTIONS PVT. LTD.
  • Others

Exclusive, in-depth market intelligence can help you increase your Revenue.

Download Sample Pdf

Reports Description

India Small Wind and Solar Generator Market was valued at USD 22.6 Million in 2024 and is expected to reach USD 28.3 Million by 2033, at a CAGR of 2.16% during the forecast period 2024 – 2033.

A small wind and solar generator is a hybrid system that combines wind and solar power to generate electricity. Small wind turbines typically have a capacity of up to 100 kW, while solar generators can range from a few watts to tens of kilowatts.

These systems are becoming increasingly popular due to rising energy costs, government incentives for renewable energy, and growing awareness of environmental sustainability. The small wind and solar generator market is expected to grow significantly in the coming years.

India Small Wind and Solar Generator Market: Growth Factors

Government Incentives and Policies

India’s government has been actively promoting renewable energy sources like small wind and solar through various incentives and policies. Schemes like the Jawaharlal Nehru National Solar Mission (JNNSM) and the National Wind-Solar Hybrid Policy aim to increase the deployment of renewable energy systems.

The government’s ambitious target of achieving 175 GW of renewable energy capacity by 2022, including 100 GW of solar and 60 GW of wind, is a significant driver for the small wind and solar Generator market.

According to the Ministry of New and Renewable Energy (MNRE), India had achieved a cumulative renewable energy capacity of 100.02 GW by November 2021, with solar and wind energy contributing significantly to this capacity. This indicates a strong push towards renewable energy adoption.

Increasing Energy Demand and Rural Electrification

In rural areas of India, where grid connectivity is often unreliable or non-existent, small wind and solar generators offer a viable off-grid solution for meeting electricity needs. These systems provide access to clean and sustainable power, thus improving living standards and enabling economic activities in rural communities.

The government’s focus on electrifying rural areas through schemes like the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY) and the Saubhagya scheme further drives the demand for decentralized renewable energy solutions.

As per government reports, over 26.4 million households were electrified under the Saubhagya scheme by March 2021, demonstrating the immense potential for small wind and solar systems to cater to rural energy needs.

India Small Wind and Solar Generator Market: Restraints

Intermittency and Reliability Issues

One of the key challenges facing small wind and solar systems is their intermittency, dependent on weather conditions. This intermittency poses reliability issues, especially for critical applications or industries requiring continuous power supply.

According to data from the Central Electricity Authority (CEA), renewable energy sources, including wind and solar, accounted for around 23% of India’s total installed capacity in March 2021.

However, the variability in generation from renewables necessitates backup power sources, which can add to the overall cost of energy provision.

High Initial Investment and Financing Challenges

Despite government incentives, the initial capital investment required for installing small wind and solar generators remains relatively high for individual consumers and small businesses. Limited access to financing options and lack of awareness about available subsidies often act as barriers to adoption.

The Reserve Bank of India (RBI) reports that financing challenges hinder the growth of renewable energy projects in India. Difficulty in accessing affordable financing options constrains the proliferation of small wind and solar generators, particularly among rural and economically disadvantaged communities.

India Small Wind and Solar Generator Market 2024–2033 (By Installation Type)

www.custommarketinsight.com

India Small Wind and Solar Generator Market: Opportunities

Off-Grid and Remote Applications

The rise of microgrid systems presents a significant opportunity for small wind and solar generators in India. Microgrids offer localized and decentralized energy solutions, providing resilience against grid failures and enabling energy independence for communities, industries, and institutions.

The Indian government’s Smart Grid Mission emphasizes the development of microgrids to enhance energy access and reliability, presenting a favorable environment for the integration of small wind and solar generators into these systems.

Technological Advancements and Innovation

Continuous advancements in technology, such as improved battery storage, smart grids, and efficient energy conversion systems, present significant opportunities for the small wind and solar market in India.

Innovations in hybrid systems combining wind and solar generation, along with energy management solutions, can enhance system efficiency and reliability, further driving market growth and adoption.

Research and development initiatives supported by organizations like the Indian Institute of Science (IISc) and the Council of Scientific and Industrial Research (CSIR) contribute to innovation in renewable energy technologies, fostering the growth of the small wind and solar generator market in India.

India Small Wind and Solar Generator Market 2024–2033 (By Turbine)

www.custommarketinsight.com

India Small Wind and Solar Generator Market: Segmentation Analysis

India Small wind and Solar Generator market is segmented by Systems, Turbine and Installation Type. Based on systems, India small wind and solar Generator market is segmented into Wind turbine generation systems, Solar generation systems, Wind and solar (hybrid) power generation systems.

Among all these segments, Wind and solar (hybrid) power generation systems held the highest market share in 2023. This segment combines the benefits of both wind and solar energy, providing a more reliable and consistent power generation solution.

Hybrid systems can maximize energy production by utilizing both wind and solar resources, thus appealing to a broader range of consumers. Hybrid systems are gaining popularity due to their ability to offer increased energy reliability, efficiency, and flexibility.

As renewable energy technology advances and costs decrease, the adoption of hybrid systems is likely to accelerate.

Based on Turbines, India small wind and solar Generator market is segmented into Horizontal axis wind turbines and vertical axis wind turbines. Among all these segments, Horizontal axis wind turbines held the highest market share in 2023.

Horizontal axis wind turbines are the most commonly used type in large-scale wind power generation projects. They typically offer higher efficiency and power output compared to vertical axis turbines, making them the preferred choice for commercial applications.

Although horizontal axis turbines dominate the market, vertical axis turbines are gaining attention, especially in urban and residential settings. They have advantages such as being less affected by turbulent winds and having the ability to capture wind from any direction, which makes them suitable for smaller scale installations and niche applications.

Based on Installation Type, India small wind and solar Generator market is segmented into Domestic, Small-scale, and Commercial. Among all these segments, Commercial held the highest market share in 2023. Commercial installations typically involve larger-scale projects that contribute significantly to overall renewable energy capacity.

These installations can include utility-scale wind farms and solar parks, as well as commercial buildings with rooftop solar arrays. Commercial installations are often driven by government incentives, corporate sustainability goals, and the need to reduce operational costs.

Small-scale installations, including residential rooftop solar panels and small wind turbines, are experiencing rapid growth due to factors such as decreasing equipment costs, supportive government policies, and increasing awareness of environmental issues among homeowners and small business owners.

Additionally, advancements in technology are making small-scale renewable energy systems more accessible and affordable to a broader range of consumers.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 22.6 Million
Projected Market Size in 2033 USD 28.3 Million
Market Size in 2023 USD 22.2 Million
CAGR Growth Rate 2.16% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By System, Turbine, Installation Type and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope India
Buying Options Request tailored purchasing options to fulfil your requirements for research.

India Small Wind and Solar Generator Market: Regional Insight

In India, the small wind and solar Generator market exhibits promising regional insights, driven by diverse factors across the nation. In states like Gujarat and Rajasthan, abundant sunlight and favourable policies have spurred significant solar adoption.

These regions boast extensive solar installations, ranging from rooftop setups to utility-scale projects, facilitated by state incentives and conducive regulatory frameworks. Conversely, in hilly terrains such as Himachal Pradesh and Uttarakhand, small wind power holds substantial potential.

The challenging topography limits conventional energy infrastructure, making small wind turbines an attractive alternative for decentralized energy generation. Local initiatives and government support aim to harness wind resources effectively in these regions, fostering sustainable development and energy self-sufficiency.

Moreover, coastal states like Tamil Nadu and Andhra Pradesh exhibit a balanced uptake of both solar and wind energy. With vast coastlines and consistent wind patterns, these areas host numerous wind farms alongside burgeoning solar installations.

Innovative hybrid solutions integrating wind and solar power further optimize energy generation, showcasing a holistic approach to renewable energy adoption. Overall, India’s small wind and solar Generator market reflects a dynamic landscape shaped by geographical diversity, policy interventions, and regional energy needs, underscoring the nation’s commitment to sustainable development and renewable energy transition.

India Small Wind and Solar Generator Market 2024–2033 (By Million)

www.custommarketinsight.com

India Small Wind and Solar Generator Market: Recent Developments

  • In February 2024, Mahindra Renewables Launched Small Wind Turbine Series. Mahindra Renewables, a leading renewable energy player in India, launched a new series of small wind turbines specifically designed for the distributed power market. These turbines are ideal for rural applications, farms, and small businesses, offering a clean and reliable power source in areas with limited grid connectivity.
  • In January 2024, the Government announced the Revamped KUSUM Scheme. The Ministry of New and Renewable Energy (MNRE) announced a revamped KUSUM (Kisan Urja Suraksha evam Utthan Mahaabhiyaan) scheme to boost solar power adoption in the agriculture sector. The scheme offers subsidies for farmers to install small solar power plants on their land, enabling them to meet their irrigation needs and potentially sell surplus power back to the grid.
  • In December 2023, Local Startup Bags Investment for Off-grid Solar Solutions. A promising Indian startup focused on providing off-grid solar solutions for rural communities secured funding from a leading venture capital firm. This investment will likely fuel the company’s expansion, making it easier for remote areas to access clean and affordable solar power for lighting, appliances, and basic needs.
  • In November 2023, Major EPC Company Announced Collaboration for a Small Wind Project. A major Engineering, Procurement, and Construction (EPC) company in India joined forces with a small wind turbine manufacturer to develop a distributed wind power project. This collaboration highlights the growing interest in integrating small wind solutions into larger renewable energy projects, potentially offering a more comprehensive clean energy mix.

List of the prominent players in the India Small wind and Solar Generator Market:

  • Avantgarde
  • Enercon
  • LAVANCHA RENEWABLE ENERGY PVT. LTD.
  • Revayu Energy
  • SPITZEN ENERGY SOLUTIONS PVT. LTD.
  • SUNAIR POWER PVT. LTD.
  • SUZLON ENERGY LIMITED
  • Unitron Energy
  • Vestas
  • WINDSTREAM TECHNOLOGIES INC.
  • Others

These key players are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The India Small wind and Solar Generator Market is segmented as follows:

By System

  • Wind Turbine Generation System
  • Solar Generation System
  • Wind And Solar (Hybrid) Power Generation System

By Turbine

  • Horizontal Axis Wind Turbine
  • Vertical Axis Wind Turbine

By Installation Type

  • Domestic
  • Small-Scale
  • Commercial

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 India Small Wind and Solar Generator Market, (2024 – 2033) (USD Million)
    • 2.2 India Small wind and Solar Generator Market: snapshot
  • Chapter 3. India Small Wind and Solar Generator Market – Industry Analysis
    • 3.1 India Small Wind and Solar Generator Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Government Incentives and Policies
      • 3.2.2 Increasing Energy Demand and Rural Electrification
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By System
      • 3.7.2 Market Attractiveness Analysis By Turbine
      • 3.7.3 Market Attractiveness Analysis By Installation Type
  • Chapter 4. India Small Wind and Solar Generator Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 India Small Wind and Solar Generator Market: company market share, 2024
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. India Small Wind and Solar Generator Market – System Analysis
    • 5.1 India Small wind and Solar Generator Market overview: By System
      • 5.1.1 India Small wind and Solar Generator Market share, By System, 2024 and – 2033
    • 5.2 Wind Turbine Generation System
      • 5.2.1 India Small Wind and Solar Generator Market by Wind Turbine Generation System, 2024 – 2033 (USD Million)
    • 5.3 Solar Generation System
      • 5.3.1 India Small Wind and Solar Generator Market by Solar Generation System, 2024 – 2033 (USD Million)
    • 5.4 Wind And Solar (Hybrid) Power Generation System
      • 5.4.1 India Small Wind and Solar Generator Market by Wind And Solar (Hybrid) Power Generation System, 2024 – 2033 (USD Million)
  • Chapter 6. India Small Wind and Solar Generator Market – Turbine Analysis
    • 6.1 India Small wind and Solar Generator Market overview: By Turbine
      • 6.1.1 India Small wind and Solar Generator Market share, By Turbine, 2024 and – 2033
    • 6.2 Horizontal Axis Wind Turbine
      • 6.2.1 India Small Wind and Solar Generator Market by Horizontal Axis Wind Turbine, 2024 – 2033 (USD Million)
    • 6.3 Vertical Axis Wind Turbine
      • 6.3.1 India Small Wind and Solar Generator Market by Vertical Axis Wind Turbine, 2024 – 2033 (USD Million)
  • Chapter 7. India Small Wind and Solar Generator Market – Installation Type Analysis
    • 7.1 India Small wind and Solar Generator Market overview: By Installation Type
      • 7.1.1 India Small wind and Solar Generator Market share, By Installation Type, 2024 and – 2033
    • 7.2 Domestic
      • 7.2.1 India Small Wind and Solar Generator Market by Domestic, 2024 – 2033 (USD Million)
    • 7.3 Small-Scale
      • 7.3.1 India Small Wind and Solar Generator Market by Small-Scale, 2024 – 2033 (USD Million)
    • 7.4 Commercial
      • 7.4.1 India Small Wind and Solar Generator Market by Commercial, 2024 – 2033 (USD Million)
  • Chapter 8. India Small Wind and Solar Generator Market – Regional Analysis
    • 8.1 India Small Wind and Solar Generator Market Regional Overview
    • 8.2 India Small Wind and Solar Generator Market Share, by Region, 2024 & – 2033 (USD Million)
  • Chapter 9. Company Profiles
    • 9.1 Avantgarde
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Enercon
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 LAVANCHA RENEWABLE ENERGY PVT. LTD.
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Revayu Energy
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 SPITZEN ENERGY SOLUTIONS PVT. LTD.
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 SUNAIR POWER PVT. LTD.
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 SUZLON ENERGY LIMITED
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Unitron Energy
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Vestas
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 WINDSTREAM TECHNOLOGIES INC.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Others.
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
List Of Figures

Figures No 1 to 19

List Of Tables

Tables No 1 to 2

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Avantgarde
  • Enercon
  • LAVANCHA RENEWABLE ENERGY PVT. LTD.
  • Revayu Energy
  • SPITZEN ENERGY SOLUTIONS PVT. LTD.
  • SUNAIR POWER PVT. LTD.
  • SUZLON ENERGY LIMITED
  • Unitron Energy
  • Vestas
  • WINDSTREAM TECHNOLOGIES INC.
  • Others

FAQs

The Intermittency and Reliability Issues is major restraint in India Small wind and Solar Generator market.

The Increasing Energy Demand and Rural Electrification is major driver in India Small wind and Solar Generator market.

The “Domestic” category dominated the market in 2023.

The key players in the market are Avantgarde, Enercon, LAVANCHA RENEWABLE ENERGY PVT. LTD., Revayu Energy, SPITZEN ENERGY SOLUTIONS PVT. LTD., SUNAIR POWER PVT. LTD., SUZLON ENERGY LIMITED, Unitron Energy, Vestas, WINDSTREAM TECHNOLOGIES INC., Others.

The market is projected to grow at a CAGR of 2.16% during the forecast period, 2024-2033.

The India Small wind and Solar Generator Market size was valued at USD 22.6 Million in 2024.

PURCHASE OPTIONS

$

2650


$

3650


$

4650


$

1650


powerbi pdf
$

6200

What You Get :

  • PDF Report Format.
  • Can be accessible by 1 single user.
  • Free 25% or 40 hours of customisation.
  • Free post-sale service assistance.
  • 15% discount on your next purchase.
  • Dedicated account Associate .
  • Permission to print the report.
  • Service guarantee available.
  • PDF and Excel Datasheet Formats.
  • Can be accessible upto 2 to 5 users.
  • Free 35% or 60 hours of customisation.
  • Free post-sale service assistance.
  • 25% discount on your next purchase.
  • Service guarantee available.
  • Personalised market brief by author.
  • Permission to print the report.
  • PDF, Excel and Power Point.
  • Can be accessible by unlimited users.
  • Free 40% or 80 hours of customisation.
  • Free post-sale service assistance.
  • 30% discount on your next purchase.
  • Permission to print the report.
  • Dedicated account manager.
  • Service guarantee available.
  • Excel Datasheet Format.
  • Customized access as per user request.
  • Upgradable to other licenses.
  • 15% discount on your next purchase.
  • Free 20% or 10 hours of customisation.
  • PDF, Excel, Power Point and Power BI.
  • Every Year Free Update ( Apr – Apr)
  • Personalized market brief by author
  • Can be accessible by unlimited users.
  • Free 50% or 90 hours of customization.
  • Up to 50 Company Profiles
  • Free post-sale service assistance with guarantee
  • 40% discount on your next purchase.
  • Permission to print the report.
  • Dedicated account team.
  • Service guarantee available.

Want to customize this report?
100% FREE CUSTOMIZATION!