Green Technology Market in India 2020

     

 This research report presents a comprehensive overview on the India Green Technology market, further presents an analysis on its products and services in the market and the leading companies operating in the Green Technology industry. You will also find many facts & figures and statistics related to the India Green Technology market.

Along with a detailed overview, this report also has SWOT analysis and PEST analysis which provide a deeper insightful look into the Indian Green Technology market. There’s also regional analysis which furthermore increases the credibility of the data provided in this report. The data has been presented in such a way that is easy to understand. You will find pie charts, graphs, and other visual representations that will provide better sense of the information.

The research report widely covers the business profiles of all the key players that operate in the India Green Technology market. These companies have been thoroughly profiled and the report contains information on their growth projections, development prospects, their business strategies, sales data, and their current business revenue, to the expected revenue. Based on the report, you can understand what the leading players are planning to do in the next 5 years, and this data will help you to make important business decisions. Adani Power Limited, Bharat Heavy Electricals Limited, Exide Industries Limited, Suzlon Energy Limited, Tata Chemicals Limited and more - all the top companies operating in the India Green Technology market and their business strategies have been profiled in this research report.

Market insights
The green technology market in India is mostly dominated by green energy; electric vehicles, and water and wastewater treatment are the other key market segments. In terms of installed capacity, the green energy sector stood at 87.02 GW in FY 2020 and has set a target to reach 275 GW of installed capacity by FY 2027.  In terms of sales volume, the electric vehicles market in India reached 156,000 units in FY 2020, expanding at a compound annual growth rate (CAGR) of 66.90% during the FY 2018-FY 2020 period. In terms of revenue, the market for water and wastewater treatment in India is estimated to reach INR 2,141.60 Bn in 2025, expanding at a CAGR of 12.28% during the forecast period.

Segment insights:
Based on installed capacity, the green energy sector in India is dominated by solar energy, followed by wind, biomass and small hydro. Several initiatives to promote solar park, solar cities, solar pumps and the National Solar Mission can be attributed for the remarkable growth of solar capacity in India. India’s installed capacity for wind energy stood at 34.63 GW in FY 2020. Wind energy projects in India are mostly concentrated in the states of Tamil Nadu, Rajasthan and Maharashtra. The country aspires to attain green energy capacities of 175 GW and 275 GW by FY 2022 and FY 2027, respectively. However, supply chain disruptions owing to the pandemic and safeguard duty on solar cells are likely to hinder the installation target.

Electric two-wheelers was the largest segment of the electric vehicles market in India in FY 2020, accounting for ~97.44% of the total sales volume. The other two segments – electric four-wheelers and bus – are slowly gaining traction owing to the gradual adoption of electric vehicles for public transport. Moreover, the growing popularity of hybrid e-cars is expected to propel the electric four-wheelers market.

Market influencers:
The enormous green energy potential in India, coupled with 100% FDI approval has made India an attractive destination for capital influx. During the FY 2018-FY 2020 period, the green energy sector in India received investments worth ~INR 1.34 Tn. Further, the Indian government’s focus to boost the electric mobility sector is projected to fuel the green technology market in India. Supportive policies like National Electric Mobility Mission Plan (NEMMP) and Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) have fostered the penetration of electric vehicles in India. In addition, investments through public-private partnerships (PPP), reduction in tax and exemption of basic customs duty are estimated to boost the sale of electric vehicles over the forecast period.

The green technology market in India is constrained by the lack of an integrated and unified policy structure and the difficulty in accessing finance. There are numerous policies catering to various sub-segments of the green technology sector, which also lack in terms co-ordination at state and central levels. On the other hand, green technology start-ups face challenges in acquiring early-stage funding. The stringent eligibility criteria act as a roadblock for green tech entrepreneurs to be entitled for government-support schemes. Moreover, challenges in grid integration, scheduling, forecasting and power purchase agreements (PPA) impede the full-realization of green energy potential.

Impact of COVID-19:
The outbreak of COVID-19 has led to severe disruption in the solar energy supply chain since India is highly dependent on China for the sourcing of PV modules. The import of solar modules and cells dropped by 76.4% in the first quarter of CY 2020 as compared to the first quarter of CY 2019. Furthermore, the nationwide lockdown resulted in a halt in construction activities in the second quarter of CY 2020. The Ministry of New and Renewable Energy (MNRE) directed green agencies to consider the pandemic as force majeure (unprecedented events or circumstances beyond human control) and allowed a blanket extension of 30 days beyond the lockdown period for all renewable energy projects.

The interruption in the global supply chain and logistics has created lucrative opportunities for domestic players of the green technology market to enhance the self-sufficiency of the country. The government has stressed on the indigenous production of solar cells, PV components and Lithium-ion battery. The government’s focus to establish India as the manufacturing hub for electric vehicles has been pushed by the supply chain disruption in China, which is currently the leading manufacturer. Furthermore, the major turmoil created in the fossil fuel market during the pandemic has increased reliance on green energy owing to its flexibility and cost-effectiveness.

Companies covered
• Adani Power Limited
• Bharat Heavy Electricals Limited
• Exide Industries Limited
• Suzlon Energy Limited
• Tata Chemicals Limited 
• Tata Power Limited
• Thermax Limited
• Ampere Vehicles Private Limited
• Hero Electric Vehicles Private Limited
• Mahindra Electric Mobility Limited

With this research report, you can get an insightful view of the India Green Technology market. So, if you are looking to make smart investments, you will be at an advantage with all the relevant data at your fingertips. This report also contains market analysis, growth analysis, and competitive landscape report, so if you are looking to start your own business in the India Green Technology market, you can use this report to assess business opportunities and make business strategies. 

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