India's Electricity demand to surge 4 trillion units by 2035: OmniScience Capital report
Hyderabad, June 27 (UNI) India's electricity demand is expected to reach 4 trillion units (4,000 TWh) by 2035 due to industrial expansion, urban growth, and the electrification of transport, according to the latest report released by OmniScience Capital, a Global Investment Management firm.
Energy transition has become critical for a sustainable future, initiatives and policies such as Net-zero, 500 GW Renewable power target, EV adoption, Rooftop Solar push, and others are driving this transformation, the report stated.
By 2035, three transformative sectors— Electric Vehicles (EVs), Data Centers (DCs), and Railways are estimated to be the largest consumers of power, consuming a combined 500 TWh of electricity, accounting for around 12-13 percent of India's total projected power demand of 4,000 TWh, the report revealed.
This marks a pivotal shift in the country's energy landscape, where traditional industrial and residential consumption is now being complemented by these futuristic drivers.
Ashwini Shami, EVP and Portfolio Manager at OmniScience Capital, said 'India's electricity demand reaching 4 trillion units by 2035 is not just a statistic—it's a signal of the country's accelerating industrial growth, digital transformation, and rising quality of life. This trend unlocks significant investment potential in energy infrastructure, renewable energy, and modernizing the grid'.
India's Per Capita Electricity use likely to nearly double from 1,400 KWh in 2024 to 2,575 KWh in 2035.
The report highlighted the reasons behind this growth, which is likely to be rapid economic growth, urbanization, and rising household incomes.
As more people move to cities and adopt energy-intensive appliances and as industries expand under initiatives like 'Make in India,' electricity demand will likely surge, he report said.
The push for digital infrastructure, electric vehicles, and rural electrification is likely to further accelerate usage.
Commercial Electricity Demand Projected to Surge 4.4x by 2035, Growing at a 13.2% CAGR, it said.
India's commercial and other sectors are emerging as powerful engines of electricity demand. From 181 TWh in 2023, consumption in these segments is projected to rise to 798 TWh by 2035, marking a 4.4x increase and a CAGR of 13.2 percent—the second-fastest among all sectors.
This surge is likely to elevate their share to nearly 20% of total electricity consumption, reflecting the country's rapid shift toward a service-driven, digitally connected economy, the report stated.
India's transport sector (EV + Railways) is set to become the fastest-growing consumer of electricity, with consumption projected to surge from 25 TWh in 2022 to 162 TWh by 2035, growing at a CAGR of 16.8 percent.
Major key drivers behind this transformation are the accelerated adoption of electric vehicles (EVs), their expansion of charging infrastructure and electrification of railways, the report added.
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