PUBLISHER: Grand View Research | PRODUCT CODE: 1493349
PUBLISHER: Grand View Research | PRODUCT CODE: 1493349
India Microgrid Market Size, Share & Trends Analysis Report By Power Source (CHP, Natural Gas, Solar PV, Diesel, Fuel Cell) By Connection Type (Remote, Grid Connected, Hybrid), By End-use, And Segment Forecasts, 2024 - 2030
India Microgrid Market Growth & Trends:
The India microgrid market size is anticipated to reach USD 8.01 billion by 2030 and is anticipated to grow at a CAGR of 19.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. One of the key factors propelling the market expansion includes the increasing demand for reliable and uninterrupted power supply, especially in remote and rural areas where grid connectivity is limited or unreliable. Furthermore, government initiatives and policies promoting renewable energy sources and enhancing energy security significantly drive market growth. For instance, The Ministry of New and Renewable Energy in India aims to achieve 500 GW of installed electricity capacity from non-fossil sources by 2030, highlighting the significance of integrating and managing renewable energy through microgrids.
This ambitious goal underscores India's commitment to transitioning towards cleaner energy sources and reducing dependence on fossil fuels. India's focus on renewable energy development, including microgrids, aligns with global trends towards sustainable energy practices and underscores the country's efforts to address energy challenges while promoting environmental sustainability. In addition, the Indian government has introduced policies supporting clean energy and grid modernization, particularly in rural areas, to boost the adoption of microgrid solutions. These policies create a favorable environment for deploying microgrids in the energy infrastructure. Moreover, technological advancements in smart grid technologies, IoT integration, and digitalization are accelerating the adoption of microgrids in India. These innovations enable efficient monitoring, control, and optimization of microgrid operations, improving performance and cost-effectiveness.
Integrating advanced communication and control systems enhances grid resilience and flexibility, making microgrids an attractive option for utilities and end-users. Furthermore, increasing focus on energy independence and resilience against grid disruptions drives the interest in microgrid solutions among commercial and industrial sectors in India. Businesses recognize the benefits of having a reliable backup power source to ensure uninterrupted operations during grid outages or emergencies. Microgrids offer a viable alternative to traditional backup generators by providing cleaner energy options and enabling better management of energy resources. These driving factors collectively contribute to market expansion, offering sustainable energy solutions that cater to diverse energy needs across the country.
India Microgrid Market Report Highlights:
- The CHP segment dominated the market and accounted for a share of over 43% in 2023 owing to the shift from conventional Separate Heat and Power (SHP) setups to utilizing a single fuel source for energy generation, underscoring the efficiency and cost-effectiveness of CHP systems in powering microgrids
- Based on the connection type, the grid-connected segment led the market with a share of around 65% in 2023 as they utilize multiple generators, distribution networks, and advanced controls, enhancing grid resiliency, electricity quality, and reducing carbon footprint. These systems provide various benefits, leading to increased demand and market dominance
- The education end-use segment dominated the market in 2023 owing to the increased government spending on education infrastructure and extensive power supply requirements in this sector
- In December 2021, NTPC Ltd., India's largest power-generating company, announced its first green hydrogen microgrid project for its Simhadri plant in Andhra Pradesh, India. This project is a significant step towards India's commitment to achieving its climate goals and underscores NTPC's dedication to sustainable energy solutions
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Power Source
- 1.2.2. Connection Type
- 1.2.3. End-use
- 1.2.4. Estimates and forecasts timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased database
- 1.4.2. GVR's internal database
- 1.4.3. Secondary sources
- 1.4.4. Primary research
- 1.5. Information or Data Analysis
- 1.5.1. Data analysis models
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity flow analysis (Model 1)
- 1.7.2. Volume price analysis (Model 2)
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Power Source outlook
- 2.2.2. Connection Type outlook
- 2.2.3. End-use outlook
- 2.3. Competitive Insights
Chapter 3. India Microgrid Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.2. Market restraint analysis
- 3.3. India Microgrid Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Technological landscape
- 3.3.2.3. Economic landscape
- 3.3.2.4. Social landscape
- 3.3.2.5. Legal landscape
- 3.3.2.6. Environmental landscape
- 3.3.1. Industry Analysis - Porter's
Chapter 4. India Microgrid Market: Power Source Estimates & Trend Analysis
- 4.1. Power Source Market Share, 2023 & 2030
- 4.2. Segment Dashboard
- 4.3. India Microgrid Market by Power Source Outlook
- 4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Following
- 4.4.1. CHP
- 4.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 4.4.2. Natural Gas
- 4.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 4.4.3. Solar PV
- 4.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 4.4.4. Diesel
- 4.4.4.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 4.4.5. Fuel Cell
- 4.4.5.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 4.4.6. Others
- 4.4.6.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 4.4.1. CHP
Chapter 5. India Microgrid Market: Connection Type Estimates & Trend Analysis
- 5.1. Connection Type Market Share, 2023 & 2030
- 5.2. Segment Dashboard
- 5.3. India Microgrid Market by Connection Type Outlook
- 5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Following
- 5.4.1. Remote
- 5.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 5.4.2. Grid Connected
- 5.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 5.4.3. Hybrid
- 5.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 5.4.1. Remote
Chapter 6. India Microgrid Market: End-use Estimates & Trend Analysis
- 6.1. End-use Market Share, 2023 & 2030
- 6.2. Segment Dashboard
- 6.3. India Microgrid Market by End-use Outlook
- 6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Following
- 6.4.1. Government
- 6.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 6.4.2. Education
- 6.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 6.4.3. Commercial
- 6.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 6.4.4. Utility
- 6.4.4.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 6.4.5. Defense
- 6.4.5.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 6.4.6. Others
- 6.4.6.1. Market estimates and forecasts 2018 to 2030 (USD Million) (MW)
- 6.4.1. Government
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company/Competition Categorization
- 7.3. Vendor Landscape
- 7.3.1. List of key distributors and channel partners
- 7.3.2. Key customers
- 7.3.3. Key company heat map analysis, 2023
- 7.4. Company Profiles
- 7.4.1. Eaton Corporation Plc
- 7.4.1.1. Company overview
- 7.4.1.2. Financial performance
- 7.4.1.3. Power Source benchmarking
- 7.4.1.4. Strategic initiatives
- 7.4.2. Exelon Corporation
- 7.4.2.1. Company overview
- 7.4.2.2. Financial performance
- 7.4.2.3. Power Source benchmarking
- 7.4.2.4. Strategic initiatives
- 7.4.3. General Electric Company
- 7.4.3.1. Company overview
- 7.4.3.2. Financial performance
- 7.4.3.3. Power Source benchmarking
- 7.4.3.4. Strategic initiatives
- 7.4.4. Gram Power India Pvt Ltd
- 7.4.4.1. Company overview
- 7.4.4.2. Financial performance
- 7.4.4.3. Power Source benchmarking
- 7.4.4.4. Strategic initiatives
- 7.4.5. Greenpeace Foundation,
- 7.4.5.1. Company overview
- 7.4.5.2. Financial performance
- 7.4.5.3. Power Source benchmarking
- 7.4.5.4. Strategic initiatives
- 7.4.6. Hitachi Ltd
- 7.4.6.1. Company overview
- 7.4.6.2. Financial performance
- 7.4.6.3. Power Source benchmarking
- 7.4.6.4. Strategic initiatives
- 7.4.7. Regain Paradise
- 7.4.7.1. Company overview
- 7.4.7.2. Financial performance
- 7.4.7.3. Power Source benchmarking
- 7.4.7.4. Strategic initiatives
- 7.4.8. Schneider Electric SE
- 7.4.8.1. Company overview
- 7.4.8.2. Financial performance
- 7.4.8.3. Power Source benchmarking
- 7.4.8.4. Strategic initiatives
- 7.4.9. Siemens India Private Limited
- 7.4.9.1. Company overview
- 7.4.9.2. Financial performance
- 7.4.9.3. Power Source benchmarking
- 7.4.9.4. Strategic initiatives
- 7.4.10. Toshiba India Pvt Ltd
- 7.4.10.1. Company overview
- 7.4.10.2. Financial performance
- 7.4.10.3. Power Source benchmarking
- 7.4.10.4. Strategic initiatives
- 7.4.1. Eaton Corporation Plc
List of Tables
- Table 1 List of Abbreviations
- Table 2 India Microgrid Market, By Power Source, 2018 - 2030 (USD Million) (MW)
- Table 3 India Microgrid Market, By Connection Type, 2018 - 2030 (USD Million) (MW)
- Table 4 India Microgrid Market, By End-use, 2018 - 2030 (USD Million) (MW)
List of Figures
- Fig. 1 Market Research Process
- Fig. 2 Data Triangulation Techniques
- Fig. 3 Primary Research Pattern
- Fig. 4 Market Research Approaches
- Fig. 5 Value-Chain-Based Sizing & Forecasting
- Fig. 6 QFD Modeling for Market Share Assessment
- Fig. 7 Market Formulation & Validation
- Fig. 8 India Microgrid Market Outlook
- Fig. 9 India Microgrid Competitive Insights
- Fig. 10 Parent Market Outlook
- Fig. 11 Related/Ancillary Market Outlook
- Fig. 12 Penetration and Growth Prospect Mapping
- Fig. 13 India Microgrid Market Driver Impact
- Fig. 14 India Microgrid Market Restraint Impact
- Fig. 15 India Microgrid Market: Power Source Movement Analysis
- Fig. 16 India Microgrid Market: Power Source 2018 - 2030 (USD Million) (MW): Key Takeaways
- Fig. 17 CHP Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 18 Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 19 Solar PV Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 20 Diesel Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 21 Fuel Cell PV Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 22 Others Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 23 India Microgrid Market: Connection Type Movement Analysis
- Fig. 24 India Microgrid Market: Connection Type, 2018 - 2030 (USD Million) (MW): Key Takeaways
- Fig. 25 Remote Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 26 Grid Connected Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 27 Hybrid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 28 India Microgrid Market: End-use Movement Analysis (USD Million) (MW)
- Fig. 29 India Microgrid Market: End-use, 2018 - 2030 (USD Million) (MW): Key Takeaways
- Fig. 30 Government Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 31 Education Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 32 Commercial Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 33 Utility Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 34 Defense Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 35 Others Market Estimates and Forecasts, 2018 - 2030 (USD Million) (MW)
