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Wind Turbine Market in India Expected to Grow at CAGR of More Than 13% over 2015-2019

Jul 6 2015

Technavio has published a new report on the wind turbine market in India, which is expected to grow at a CAGR of more than 13% from 2015-2019.

About the Report

The new Technavio report indicates that India is the fourth largest energy consumer in the world, driven by its increasing population, rapidly growing economy, and improving standard of living. Hence, energy security is important for maintaining substantial economic growth.

“India is diversifying its fuel mix and increasing the share of renewable energy, with wind power generation potential being the highest. Such strong wind resource potential and the high demand for energy will enhance the growth of the wind turbine market in India,” says Faisal Ghaus, Vice President of Technavio.

The latest report by Technavio also emphasizes the launch of new wind power projects, which has enhanced employment opportunities in the country.

“The increased number of wind power projects has increased job opportunities in work areas such as metal works, shipbuilding, civil works, and electrical manufacturing,” adds Ghaus.

Market Scope and Calculation of Market Size

The new Technavio report covers the present scenario and growth prospects of the wind turbine market in India from 2015-2019. The market size is calculated based on the installed capacity of wind power.

Key Information Covered in the Report:

Key Vendors:
- Gamesa Wind Turbines Pvt Ltd.
- Inox Wind Ltd.
- Suzlon Energy Ltd.
- Vestas Wind Systems AS
- WinWinD Pvt. Ltd.
Market Growth Drivers:
- Growing Energy Demand and Need for Energy Security
- For a full detailed list, view our report.
Market Challenges:
- Inconsistent Generation Capacity
- For a full detailed list, view our report.
Market Trends:
- Increased Employment Opportunities
- For a full detailed list, view our report.