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The India solar photovoltaic (PV) market size reached 18.11 Gigawatt in 2024. The market is expected to grow at a CAGR of 13.10% between 2025 and 2034, reaching almost 62.02 Gigawatt by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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The Institute for Energy Economics and Financial Analysis (IEEFA) predicts that by 2026, India will emerge as the World’s second-largest manufacturer of solar photovoltaic (PV) technology globally.
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The National Institute of Solar Energy (NISE) estimated that India could harness around 748 GW of solar capacity, factoring in the utilization of 3% of unused land for Solar PV installations.
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In 2023, India surpassed the 70,000 Megawatts milestone in solar power generation capacity, as reported by the Ministry of Power and New & Renewable Energy.
India Solar Photovoltaic (PV) Market Report Snapshots
India Solar Photovoltaic (PV) Market Size
India Solar Photovoltaic (PV) Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was estimated to be valued at 18.11 Gigawatt in 2024.
The market is projected to grow at a CAGR of 13.10% between 2025 and 2034.
The India solar photovoltaic (PV) market is expected to reach 62.02 Gigawatt in 2034.
The market is being driven by government initiatives, environmental consciousness, technological progress, and affordability.
The solar photovoltaic (PV) market is categorised according to its product type, which includes ground-mounted and rooftop.
Key players in the industry are Tata Power Solar Systems Limited, Vikram Solar Pvt Ltd, WAAREE Energies Ltd., EMMVEE Photovoltaic Power Private Limited, Loom Solar Pvt Ltd, Websol Energy Systems Limited, Adani Group, Saatvik Group, and Jakson Group among others.
Based on the technology, the market is divided into monocrystalline silicon, thin film, polycrystalline silicon, and others.
The major market areas include East India, West India, South India and North India.
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