Add 2 More Reports For 20% off

Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Indian Solar Electric System and Inverter Market Outlook

The Indian solar electric system and inverter markets are expected to reach volume of almost 43.20 GW by the year 2032, growing at a CAGR of 13.1% between 2024 and 2032.

Indian Solar Electric System and Inverter Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The Indian solar electric system and inverter market is driven by the rising awareness regarding renewable power resources. The market is further aided by the maintenance cost related to solar electric systems, which is comparatively low, helping it gain traction, especially in an emerging economy such as India. Telangana is the leading regional market in India. 

Market Segmentation

A solar panel is referred to as a collection of cells which is utilised to produce electricity using sunlight as the energy source, whereas a solar inverter is referred to as a device which helps in the conversion of the direct current produced by the panels into alternating current. This current is then distributed to either power grids, storage batteries, or houses for operating various appliances.

Indian Solar Electric System and Inverter Market By Technology Type

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The Indian solar electric system market is bifurcated on the basis of technology type into:

  • Crystalline Silicon
  • Thin Films

Out of these, crystalline silicon represents the most preferred segment.

On the basis of installation type, the solar electric system market is segmented into:

  • Ground Mounted
  • Rooftop

Amongst these, the ground mounted segment hold the largest market share.

The Indian solar inverter market is segmented on the basis of inverter type into:

  • Central Inverter
  • String Inverter
  • Others

On the basis of the inverter type, central inverters represent the leading type in the industry. 

The report also covers the regional markets in India like Telangana, Tamil Nadu, Rajasthan, Andhra Pradesh, Gujarat, Karnataka, and others.

Indian Solar Electric System and Inverter Market By Region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis 

The Indian solar electric system and inverter market is driven by the constant shortage in the electricity supply across the country. The market is further aided by the rising population, in conjunction with rising adoption rates of electronic appliances and heating, ventilating, and air conditioning (HVAC) systems, and electronic appliances, which has resulted in the escalating use and consequent deficit in the supply of electricity. In addition to this, the market is witnessing a reduction of the prices of equipment used in the production process of such electric systems, thereby reducing their average selling price and boosting the Indian solar electric system and inverter market growth.
 
The market is aided by the rising awareness of the risks associated with the use of conventional energy sources, leading to a significant shift in the preference of consumers toward cleaner power sources. Moreover, several government initiatives are encouraging the use of these systems and, consequently, impacting their sales positively. For example, the Government of India offers incentives and subsidies for the installation of rooftop systems. The government has taken many initiatives under its wings, which aim to achieve a national solar rooftop target of 40 GW till 2021-2022.

Competitive Landscape 

The report gives a detailed analysis of the following key players in the Indian solar electric system and inverter market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Fimer S.p.A.
  • Toshiba Mitsubishi-Electric Industrial Systems Corporation
  • SMA Solar Technology AG
  • Hitachi Hi-Rel Power Electronics Private Limited
  • Vikram Solar Limited
  • Waaree Energies Ltd.
  • Adani Group
  • Goldi Solar Pvt Ltd
  • Tata Power Solar Systems Ltd
  • Moser Baer Solar Limited  
  • XL Energy Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment

  • Technology Type
  • Installation Type
  • Inverter Type
  • Region
Indian Solar Electric System Market Breakup by Technology Type
  • Crystalline Silicon
  • Thin Films
Indian Solar Electric System Market Breakup by Installation Type
  • Ground Mounted
  • Rooftop
Indian Solar Inverter Market Breakup by Inverter Type
  • Central Inverter
  • String Inverter
  • Others
Breakup by Region
  • Telangana
  • Tamil Nadu
  • Rajasthan
  • Andhra Pradesh
  • Gujarat
  • Karnataka
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered 
  • Solar Inverter
    • Fimer S.p.A.
    • Toshiba Mitsubishi-Electric Industrial Systems Corporation
    • SMA Solar Technology AG
    • Hitachi Hi-Rel Power Electronics Private Limited
    • Others
  • Solar Panel
    • Vikram Solar Limited
    • Waaree Energies Ltd.
    • Adani Group
    • Goldi Solar Pvt Ltd
    • Tata Power Solar Systems Ltd
    • Moser Baer Solar Limited  
    • XL Energy Ltd.
    • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

*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.*

Looking for specific insights?

Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!

Key Questions Answered in the Report

The market is expected to grow at a CAGR of 13.1% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around 43.20 GW by 2032.

The major drivers of the market are rising disposable incomes, increasing population, rising adoption of electronic and HVAC systems, inadequate electricity supply, and lowering of costs of equipment.

The rising shift from non-renewable to renewable energy sources and government incentives are the major trends driving the growth of the market.

The major states for solar electric systems and inverters are Telangana, Tamil Nadu, Rajasthan, Andhra Pradesh, Gujarat, and Karnataka, among others.

The various technology types of solar electric system in the market are thin films and crystalline silicon.

The leading installation types of solar electric systems in the market are ground mounted and rooftop.

The inverter types of solar inverters in the market are central inverter, and string inverter, among others.

The key players in the market for solar inverters are Fimer S.p.A., Toshiba Mitsubishi-Electric Industrial Systems Corporation, SMA Solar Technology AG, and Hitachi Hi-Rel Power Electronics Private Limited, among others. In the market for solar panels, the key players are Vikram Solar Limited, Waaree Energies Ltd., Adani Group, Goldi Solar Pvt Ltd, Tata Power Solar Systems Ltd, Moser Baer Solar Limited, and XL Energy Ltd., among others.

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Strategic Solutions for Informed Decision-Making

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

We’re here to help answer any questions about our products and services.

Contact us

Our Offices


Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124