India Cleantech Market, By Industry Type (Orange, Eucalyptus, Corn Mint, Peppermint, Citronella, Lavender, Lemon, Clover Leaf, Spearmint, and Others), By Source (Flowers, Fruits & Vegetables, Herbs & Spices), By Method of Extraction (Cold Press Extraction, Carbon Dioxide Extraction, Distillation, and Others), By Application (Food & Beverages, Medical, Home Care, Cosmetics, Spa & Relaxation, and Others) - Trends, Analysis and Forecast till 2032

Report Code: PMI400420 | Publish Date: August 2023 | No. of Pages: 160

India Cleantech Market By Industry Overview

India's cleantech sector refers to the domain of clean technologies that focus on sustainable practices, resource efficiency, and environmental conservation to address the challenges posed by climate change and depleting natural resources. India, being one of the fastest-growing economies and having a significant population, faces a substantial environmental burden, making the development and adoption of clean technologies crucial for its sustainable growth.

The Indian government has been actively promoting and supporting the cleantech sector through various policies, incentives, and regulatory frameworks. These initiatives aim to drive investments, research, and deployment of clean technologies. The push towards electric mobility continues, with the government's FAME program and various state-level incentives encouraging the adoption of electric vehicles. The growth of EV infrastructure and battery technologies is expected to drive further progress for India Cleantech Market.  

India Cleantech Market By Industry Drivers & Restraints

Government Initiatives and Policies

The National Solar Mission (NSM) is one of India's main programs aiming at increasing the use of solar energy. It established aggressive targets for increasing solar power capacity and fostered the development of solar projects through incentives, subsidies, and financing instruments such as viability gap finance.

For instance, in July 2022, the government has taken many initiatives to promote renewable energy in the country, notably wind energy. One of the significant moves taken is to allow up to 100 percent FDI through the automated route. These decisions also include the establishment of Ultra Mega Renewable Energy Parks to provide land and transmission to RE developers on a plug-and-play basis, the laying of new transmission lines and the creation of new sub-station capacity for the evacuation of renewable power, the establishment of a project development cell to attract and facilitate investments, and so on.

Increasing Public Awareness

Increasing public awareness in the India cleantech market is a crucial aspect of driving sustainable practices, encouraging adoption of clean technologies, and fostering environmental consciousness among the population. The Indian government, through various ministries and agencies, has been running awareness campaigns and programs to educate the public about the benefits of clean technologies and sustainable practices. These campaigns often use multimedia channels, Social Media Analytics, and community events to reach a broader audience.

For instance, in January 2021, Petroleum Conservation Research Association (PCRA), Ministry of Petroleum and Natural Gas launched a month-long campaign to raise awareness among fossil fuel consumers about the negative health and environmental effects of expanding carbon footprints. Shri Tarun Kapoor, Secretary Ministry of Petroleum and Natural Gas and Chairman, PCRA, started the campaign here today. 'SAKSHAM's concept is to persuade customers to convert to cleaner fuels and to implement behavioral changes that will allow them to use fossil fuels more wisely.

Restrains:

Funding and financing challenges have been significant obstacles for the growth and deployment of clean technologies in India. Clean technologies often require significant upfront investments, making it challenging for businesses and projects to secure the necessary capital for initial setup. This is particularly true for renewable energy projects like solar and wind power plants, which involve substantial infrastructure costs.

India Cleantech Market By Industry Segmentations & Regional Insights

India Cleantech Market is segmented based on Industry Type.

Industry Type Insight

On the basis of Industry Type, India Cleantech Market is segmented into Solar Energy, Wind Energy, Hydropower, and Biogas Energy. Wind Energy type is expected to dominate the target market growth as wind energy is a well-established and widely used renewable energy source in India. The country has favorable wind resources, particularly along its coastal regions and in some inland areas. Wind power projects, both onshore and offshore, have been set up across various states. The government's focus on promoting wind power and auctioning wind projects has led to substantial growth in the wind energy sector.

India Cleantech Market Report Scope:

Attribute

Details

Base year for estimation

2022

Forecast period

2022 – 2032

Market representation

Revenue in USD Billion & CAGR from 2022 to 2032

Market Segmentation

By Industry Type - Solar Energy, Wind Energy, Hydropower, and Biogas Energy

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the India Cleantech Market report based on Industry Type:

India Cleantech Market, By Industry Type:

  • Solar Energy
  • Wind Energy
  • Hydropower
  • Biogas Energy

India Cleantech Market By Industry Competitive Landscape & Key Players

The key players operating the India Cleantech Market includes, Azure Power Global Ltd., Gram Power India Pvt. Ltd., Husk Power System Pvt. Ltd., Indowind Energy Ltd., and NEPC India Ltd

India Cleantech Market By Industry Recent News

  • In April 2023, Mercom India which is considered as a clean energy research and communications firm, launched its first start-up pitch competition to provide a big stage for Indian entrepreneurs and companies to present their innovative cleantech ideas or technologies in early-stage development. The competition will be held at the Mercom India renewables summit at Hyatt Regency in New Delhi and this competition aims to bring together the most innovative startups across India’s clean energy sector.
  • In May 2023, Government launched new scheme for livelihood applications of distributed renewable energy. There is already a lot of work being done on the ground, and this scheme has the potential to aid thousands of families across the country. However, large-scale production and standardization of distributed RE applications are required to cut prices and expand the market. The government intends to reduce the cost of Distributed Renewable Energy (DRE) livelihood equipment. Collaboration with banks will be one component of this. If a family wishes to buy a solar dryer, they should be able to secure bank financing.

India Cleantech Market By Industry Company Profile

  • Azure Power Global Ltd.
  • Gram Power India Pvt. Ltd.
  • Husk Power System Pvt. Ltd.
  • Indowind Energy Ltd.
  • NEPC India Ltd.

FAQs

The India Cleantech Market is segmented into Industry Type.

India Cleantech Market is driven by factors like government initiatives and policies and increasing public awareness. India Cleantech Market is driven by factors like government initiatives and policies and increasing public awareness.

The key players operating the India Cleantech Market includes, Azure Power Global Ltd., Gram Power India Pvt. Ltd., Husk Power System Pvt. Ltd., Indowind Energy Ltd., and NEPC India Ltd.