South Asia Renewable Energy Market Size (2024 - 2029)

The South Asia Renewable Energy Market is poised for significant expansion, driven by increasing investments and ambitious renewable energy targets, despite the challenges posed by the growing use of natural gas for power generation. The market's recovery to pre-pandemic levels is anticipated, with South Asian developing countries exploring sustainable energy sources like solar, wind, and hydro, which are expected to offer substantial growth opportunities. India is projected to lead the market, benefiting from robust investments and supportive government policies.

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Market Size of South Asia Renewable Energy Industry

South Asia Renewable Energy Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR 12.00 %
Market Concentration High

Major Players

South Asia Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

South Asia Renewable Energy Market Analysis

The South Asia Renewable Energy Market is expected to register a CAGR of over 12% during the forecast period.

COVID-19 negatively impacted the market in 2020. Presently the market is likely to reach pre-pandemic levels.

  • Over the medium term, increasing investments and ambitious renewable energy targets are expected to drive the market's growth.
  • On the other hand, increasing penetration of natural gas for power generation is expected to hamper the growth of the South Asia renewable energy market during the forecast period.
  • South Asian developing countries are looking into inexhaustible and repeatable alternative energy sources such as solar, wind, hydro, and others are likely to create lucrative growth opportunities for the South Asia renewable energy market in the forecast period.
  • India is expected to dominate the market and will likely witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments, coupled with supportive government policies in the country.

South Asia Renewable Energy Industry Segmentation

Renewable energy is the energy collected from renewable resources such as sunlight, wind, water movement, and geothermal heat that are naturally replenished. 

The South Asia Renewable Energy Market is segmented by type. The market is segmented by solar, wind, hydro, and other types. The report also covers the market size and forecasts for the South Asia Renewable Energy Market across major countries. For each segment, the installed capacity and forecasts have been done based on gigawatts (GW).

Type
Hydro
Solar
Wind
Others
Geography
India
Pakistan
Bangladesh
Afghanistan
Rest of South Asia
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South Asia Renewable Energy Market Size Summary

The South Asia Renewable Energy Market is poised for significant growth, driven by increasing investments and ambitious renewable energy targets across the region. Despite the initial setbacks caused by the COVID-19 pandemic, the market is expected to recover and continue its upward trajectory. The region's focus on harnessing inexhaustible energy sources such as solar, wind, and hydro presents lucrative opportunities for expansion. India is anticipated to lead this growth, supported by favorable government policies and substantial investments. However, the rising use of natural gas for power generation may pose challenges to the market's growth during the forecast period.

Solar energy is projected to be a key driver of market expansion, with India at the forefront due to its substantial solar energy production capabilities. The decline in the Levelized Cost of Electricity for rooftop solar, along with supportive policies and corporate social responsibility initiatives, is expected to bolster the solar energy segment. The Indian government's strategic plans, including the National Solar Energy Initiative in Pakistan, underscore the region's commitment to increasing solar capacity. Additionally, ongoing and upcoming renewable energy projects, supported by international financing, are set to reinforce India's dominant position in the market. The market remains fragmented, with major players like ReNew Power Limited and Greenko Group Plc actively contributing to its development.

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South Asia Renewable Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Installed Capacity and Forecast in GW, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Force Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION & ANALYSIS

    1. 2.1 Type

      1. 2.1.1 Hydro

      2. 2.1.2 Solar

      3. 2.1.3 Wind

      4. 2.1.4 Others

    2. 2.2 Geography

      1. 2.2.1 India

      2. 2.2.2 Pakistan

      3. 2.2.3 Bangladesh

      4. 2.2.4 Afghanistan

      5. 2.2.5 Rest of South Asia

South Asia Renewable Energy Market Size FAQs

The South Asia Renewable Energy Market is projected to register a CAGR of greater than 12% during the forecast period (2024-2029)

ReNew Power Limited , Greenko Group Plc , ACME Solar Holding Limited , Tata Power Solar Systems Ltd and Suzlon Energy Ltd are the major companies operating in the South Asia Renewable Energy Market.

Renewable Energy Market in South Asia Report Snapshots

South Asia Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)