India Energy Management Market Segmented By Component (Hardware, Software, Service), By Deployment (On-Premises, Cloud), By End-User (Manufacturing, Residential, Energy & Power, IT & Telecom, Healthcare, Others), By Type (Industrial Energy Management System, Building Energy Management System, Home Energy Management System), By Region, Competition, Forecast & Opportunities, 2031F

Industry : ICT
Pages : 70
Published Date : April, 2023

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Summary

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Report Description

India Energy Management market was valued at USD 1216.64 million in 2022 and is anticipated to project robust growth during the forecast period, registering a CAGR of 14.91% during the forecast period.

An energy management system is a framework for controlling energy use by consumers, including businesses, governments, and other industrial and commercial entities. It helps companies find ways to adopt and advance energy-saving technology, including ones that don't need a big upfront expenditure. The creation and execution of an energy management system requires the creation and adoption of an energy policy, the establishment of attainable energy consumption objectives, the creation of action plans to meet those targets, and the tracking of results. The system involves putting new energy-saving technology into use, cutting down on energy waste, or optimizing present procedures to use less energy.

Increasing Green Building Awareness Helps Drive the Market

The energy management system is one of the most recent systems that collects real-time data on energy use. This is made possible by monitoring, analysing, and displaying energy use. Energy management systems improve business operations and financial judgement. Companies have begun green construction in recent years and have put in place policies for managing waste, water, and energy. While India is one of the top five nations in the world for leading construction projects and has over 2,380 registered green construction projects, the need for the India Energy Management System is rising quickly.

Increasing Smart City Program

The government's "Smart Cities" Mission project aims to modernise and expand different infrastructure for a number of national cities where the expansion of various utilities, infrastructure, and transportation projects necessitates the use of effective energy management and energy storage solutions. Moreover, 80% of the buildings in smart cities must meet the mission's standards for energy efficiency and "green building," and 10% of a smart city's energy requirements must be met by solar energy. As a result, the market is anticipated to register a significant CAGR over the forecast period.

Government Minimal Growth in CO2 Emissions Plan in India

India's primary energy consumption is expected to rise from 450 million tonnes of oil equivalent (toe) in 2000 to 770 million tonnes in 2012 and 1,123 million tonnes in 2021, according to forecast from the International Energy Agency. By 2030, it is expected that this would increase to more than 1500 million tons (as projected in the Integrated Energy Policy Report). The Indian government has adopted a two-pronged strategy to meet the energy needs of its citizens while ensuring a minimal increase in CO2 emissions. This is done to stop the earth system from suffering actual harm as a result of the impacts of global emissions. For the time period, 10,000 MW of avoided producing capacity was the goal for energy savings compared to these plans. Throughout the course of the XI plan period, these steps have prevented the creation of 10836 MW of capacity. Moreover, the Ministry of Electricity has launched a variety of energy efficiency efforts in the fields of household lighting, commercial buildings, and equipment standards under the Bureau of Energy Efficiency (BEE). Moreover, the government has developed energy consumption standards to control energy demand and decrease the amount of electricity available for use by SMEs, major companies, and agriculture/municipalities. Owing to which, the demand for Energy Management System is expected to grow rapidly during the forecast period.

Acceptance of Renewable Energy (Solar/Wind)

In order to reduce CO2 emissions by up to 50% between 2005 and 2050, several energy strategies will use scenarios that will mostly include the adoption of renewable energy sources and investments in energy-saving technologies. As of February 2023, India had installed more than 174.53 Giga Watts of renewable energy over the previous 8.5 years, making up 42.5% of the country's total capacity (including big hydro). In terms of additions to renewable energy in 2022, India experienced the highest year-over-year growth at 9.83%. Furthermore, there were 63.3 GW of installed solar energy capacity as of February 2023, a 24.4-fold increase over the previous nine years. The growing investments in the production of renewable energy in India are the factors driving the market growth during the forecast period.

Challenges: Lack of Awareness

Energy management systems and their significance for energy-saving plans are becoming more widely known. Moreover, during the forecast period, a shortage of energy management systems severely reduce market expansion. Energy management solutions are in increasingly high demand in India. However, many small and medium-sized businesses are still ignorant of the advantages of an energy management system as of this point. This aspect is expected to impede the expansion of the India Energy Management System market during the forecast period.

Impact of Covid-19: Increasing Consumption in Households

The lockdown imposed during the Covid-19 pandemic in 2020–2021 has caused the companies and enterprises to adapt a work from home model. This change has caused a sharp increase in the number of people using the internet for remote work and OTT platform streaming. The home sector's energy consumption has significantly increased as a result of this unanticipated rise in internet usage, leading to high energy costs. As a result, the significant rise in home energy usage and power costs is anticipated to raise India's need for advanced energy management systems.

Recent Developments & Investments:

India has set a goal for its non-fossil fuel-based energy consumption in the 26th session of the COP (Conference of the Parties) in 2023. This has been a key pledge made under the Panchamrit, a strategy for expanding renewable energy in the upcoming years.
As of February 2023, India had installed more than 174.53 Giga Watts of renewable energy during the preceding 8.5 years, making up 42.5% of the country's total capacity (including big hydro). In terms of additions to renewable energy in 2022, India saw the largest year over year growth at 9.83%. Furthermore, there were 63.3 GW of installed solar energy capacity as of February 2023, a 24.4-fold increase over the preceding nine years.
In November 2022, ABB offered its energy management system ABB Ability OPTIMAX to the green hydrogen sector in an effort to lower production costs by supplying real-time awareness of energy consumption across operations.

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Market Segmentation

The India Energy Management market is divided into component, deployment, end-user, and type. Based on component, the market is further divided into hardware, software and service. Based on deployment, the market is further bifurcated into on-premises and cloud. Based on end-user, the market is divided into manufacturing, residential, energy & power, IT & telecom, healthcare, and others. Based on type, the market is divided into industrial energy management system, building energy management system, and home energy management system. On the basis of region, the market is divided into South India, North India, West India, East India.

Company Profiles

Schneider Electric India Pvt. Ltd, Siemens Limited, ABB India Limited, GE Power India Limited, Emerson Electric Company (India) Private limited, Eaton Power Quality Private Limited (India), Honeywell International (India) Private Limited, Mitsubishi Corporation India Private Limited, Cisco Systems (India) Private Limited, and IBM India Private Limited are among the major players that are driving the growth of the India Energy Management market.

Attribute	Details
Market Size Value in 2022	USD1216.64 million
Revenue Forecast in 2031	USD4127.18 million
Growth Rate	14.91%
Base Year	2022
Historical Years	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2031
Quantitative Units	Revenue in USD Million and CAGR for 2018-2022 and 2023E-2031F
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	Component Deployment End-User Type
Regional Scope	South India, North India, West India, East India
Key Companies Profiled	Schneider Electric India Pvt. Ltd, Siemens Limited, ABB India Limited, GE Power India Limited, Emerson Electric Company (India) Private limited, Eaton Power Quality Private Limited (India), Honeywell International (India) Private Limited, Mitsubishi Corporation India Private Limited, Cisco Systems (India) Private Limited, and IBM India Private Limited
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail of customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, the India Energy Management Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Energy Management Market, By Component:

Hardware
Software
Service

India Energy Management Market, By Deployment:

On-Premises
Cloud

India Energy Management Market, By End-User:

Manufacturing
Residential
Energy & Power
IT & Telecom
Healthcare
Others

India Energy Management Market, By Type:

Industrial Energy Management System
Building Energy Management System
Home Energy Management System

India Energy Management Market, By Region:

South India
North India
West India
East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Energy Management market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information:

Detailed analysis and profiling of additional market players (up to five).

India Energy Management Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Service Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

1.3. Product Definition

1.3.1. By Component

1.3.2. By Type

1.3.3. By Deployment

1.3.4. By End User

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.2.1. Methodology Followed for Calculation of Market Size

2.2.2. Methodology Followed for Calculation of Market Share

2.2.3. Methodology Followed for Forecasting

2.3. Partial List of Companies Interviewed

2.4. Partial List of Secondary Sources

3. Executive Summary

4. Impact of Covid-19 on India Energy Management System Market

5. Voice of Customer

5.1. Brand Awareness

5.2. Factors Considered for Adopting Energy Management System

5.3. Key Satisfaction Level

6. India Energy Management System Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Component (Hardware, Software, Service)

6.2.2. By Deployment (On-Premises, Cloud)

6.2.3. By End-User (Manufacturing, Residential, Energy & Power, IT & Telecom, Healthcare, Others)

6.2.4. By Type (Industrial Energy Management System, Building Energy Management System, Home Energy Management System)

6.2.5. By Region (South India, North India, West India, East India)

6.2.6. By Company (2022)

6.3. Product Market Map (By Component, By Deployment, By End-User, By Type, By Region)

7. India Energy Management Hardware Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Deployment

7.2.2. By End-User

7.2.3. By Type

7.2.4. By Region

8. India Energy Management Software Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Deployment

8.2.2. By End-User

8.2.3. By Type

8.2.4. By Region

9. India Energy Management Service Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Deployment

9.2.2. By End-User

9.2.3. By Type

9.2.4. By Region

10. Market Dynamics

10.1. Drivers

10.2. Challenges

11. Market Trends and Developments

12. Policy and Regulatory Landscape

13. India Economic Profile

14. Company Profiles

14.1. Schneider Electric India Pvt. Ltd.

14.1.1. Business Overview

14.1.2. Key Financials & Revenue

14.1.3. Key Products

14.1.4. Key Personnel/Contact Person

14.1.5. Headquarters Address

14.2. Siemens Limited

14.2.1. Business Overview

14.2.2. Key Financials & Revenue

14.2.3. Key Products

14.2.4. Key Personnel/Contact Person

14.2.5. Headquarters Address

14.3. ABB India Limited

14.3.1. Business Overview

14.3.2. Key Financials & Revenue

14.3.3. Key Products

14.3.4. Key Personnel/Contact Person

14.3.5. Headquarters Address

14.4. GE Power India Limited

14.4.1. Business Overview

14.4.2. Key Financials & Revenue

14.4.3. Key Products

14.4.4. Key Personnel/Contact Person

14.4.5. Headquarters Address

14.5. Emerson Electric Company (India) Private limited

14.5.1. Business Overview

14.5.2. Key Financials & Revenue

14.5.3. Key Products

14.5.4. Key Personnel/Contact Person

14.5.5. Headquarters Address

14.6. Eaton Power Quality Private Limited (India)

14.6.1. Business Overview

14.6.2. Key Financials & Revenue

14.6.3. Key Products

14.6.4. Key Personnel/Contact Person

14.6.5. Headquarters Address

14.7. Honeywell International (India) Private Limited

14.7.1. Business Overview

14.7.2. Key Financials & Revenue

14.7.3. Key Products

14.7.4. Key Personnel/Contact Person

14.7.5. Headquarters Address

14.8. Mitsubishi Corporation India Private Limited

14.8.1. Business Overview

14.8.2. Key Financials & Revenue

14.8.3. Key Products

14.8.4. Key Personnel/Contact Person

14.8.5. Headquarters Address

14.9. Cisco Systems (India) Private Limited

14.9.1. Business Overview

14.9.2. Key Financials & Revenue

14.9.3. Key Products

14.9.4. Key Personnel/Contact Person

14.9.5. Headquarters Address

14.10. IBM India Private Limited

14.10.1. Business Overview

14.10.2. Key Financials & Revenue

14.10.3. Key Products

14.10.4. Key Personnel/Contact Person

14.10.5. Headquarters Address

15. Strategic Recommendations

16. About Us & Disclaimer

The data given for any year represents the market during the period, i.e., 1st April of the former year to 31st March of the latter year. Eg: For FY2023E, the data represents the period, from 1st April 2022 to 31st March 2023.

Figures and Tables

Figure 1: India Energy Management System Market Size, By Value (USD Million), 2018-2031F

Figure 2: India Energy Management System Market Share, By Component, By Value, 2018-2031F

Figure 3: India Energy Management System Market Share, By Deployment, By Value, 2018-2031F

Figure 4: India Energy Management System Market Share, By End-User, By Value, 2018-2031F

Figure 5: India Energy Management System Market Share, By Type, By Value, 2018-2031F

Figure 6: India Energy Management System Market Share, By Region, By Value, 2018-2031F

Figure 7: India Energy Management System Market Share, By Company, By Value, 2022

Figure 8: India Energy Management System Market Map, By Component, Market Size (USD Million) & Growth Rate (%)

Figure 9: India Energy Management System Market Map, By Deployment, Market Size (USD Million) & Growth Rate (%)

Figure 10: India Energy Management System Market Map, By End-User, Market Size (USD Million) & Growth Rate (%)

Figure 11: India Energy Management System Market Map, By Type, Market Size (USD Million) & Growth Rate (%)

Figure 12: India Energy Management System Market Map, By Region, Market Size (USD Million) & Growth Rate (%)

Figure 13: India Energy Management Hardware System Market Size, By Value (USD Million), 2018-2031F

Figure 14: India Energy Management Hardware System Market Share, By Deployment, By Value, 2018-2031F

Figure 15: India Energy Management Hardware System Market Share, By End-User, By Value, 2018-2031F

Figure 16: India Energy Management Hardware System Market Share, By Type, By Value, 2018-2031F

Figure 17: India Energy Management Hardware System Market Share, By Region, By Value, 2018-2031F

Figure 18: India Energy Management Software System Market Size, By Value (USD Million), 2018-2031F

Figure 19: India Energy Management Software System Market Share, By Deployment, By Value, 2018-2031F

Figure 20: India Energy Management Software System Market Share, By End-User, By Value, 2018-2031F

Figure 21: India Energy Management Software System Market Share, By Type, By Value, 2018-2031F

Figure 22: India Energy Management Software System Market Share, By Region, By Value, 2018-2031F

Figure 23: India Energy Management Service System Market Size, By Value (USD Million), 2018-2031F

Figure 24: India Energy Management Service System Market Share, By Deployment, By Value, 2018-2031F

Figure 25: India Energy Management Service System Market Share, By End-User, By Value, 2018-2031F

Figure 26: India Energy Management Service System Market Share, By Type, By Value, 2018-2031F

Figure 27: India Energy Management Service System Market Share, By Region, By Value, 2018-2031F

Frequently asked questions

What was the market size of the India Energy Management market in 2022?

The market size of the India Energy Management market was estimated to be USD 1216.64 million in 2022.

Which was the dominant segment by component in the India Energy Management market in 2022?

Hardware segment dominates the India Energy Management System Market, accounting for a market share of 53.24% in 2022 and is expected to dominate during the forecast period as well. This dominance of hardware component is attributed to the growing usage of hardware tools such as smart meters, sensors, and controllers in commercial and industrial buildings to monitor and control energy consumption.

Which is the dominant segment by region in the India Energy Management market?

South India dominated the India Energy Management System Market in terms of region, accounting for a market share of 38.54% in 2022 and is also estimated to be the dominant region during the forecast period. The region is the most economically developed region in the country. South India has a high concentration of industries, including information technology, manufacturing, and textiles, which are major energy consumers. These industries are increasingly adopting energy management solutions to optimize energy consumption and reduce costs.