India Solar Inverter Market (2019-2025)

Market Forecast By Types (Central, String and Micro), By System Type (Off Grid, On Grid), By Applications (Commercial, Power Utility and Residential), By Power Rating (Below 10kW, 10kW-100kW, 100.1-1 MW and Above 1MW),  By Regions (Northern, Eastern, Western and Southern) and Competitive Landscape.

Product Code: ETC001493 Publication Date: Apr 2022 Product Type: Report
Publisher: 6Wresearch No. of Pages: 103 No. of Figures: 33

Latest 2022 Developments:

India Solar inverter market developments include Huawei Gemini 8.0 which helps in achieving a lower cost of electricity. The Smart Home Solis introduced single-phase string technology into a hybrid platform to support maximum consumption safely and reliably.

Government Initiatives: The government of India initiatives such as the smart city project, development of solar energy, and solar energy subsidy scheme accelerates the solar market.

Mergers and Acquisitions

  • FIMER acquired ABB Solar inverter business.
  • The Interest Renewable Energy Council has merged with The Solar Foundation on July 13, 2021.
  • Cypress Creek acquired Renewable by EQT infrastructure on July 08, 2021.
  • The national solar mission by the government of India aims at achieving 100 GW solar capacity by 2022.

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India solar inverter market is anticipated to grow at a rapid pace on account of several policies such as the National Solar Mission by the Government of India targeting 100 GW of solar energy by the year 2022. Rising consumer awareness, the growing participation of residential and commercial segments towards solar system installations, supportive government policies & solar schemes as well as and private sector involvement are further contributing to the growth of this market.

According to 6Wresearch, the India Solar Inverter Market size is projected to grow at a CAGR of over 20.3% during 2019-2025. The solar inverter market is dominated by the utility sector owing to its large-scale solar projects deploying a large number of solar inverters. Further, the commercial segment is estimated to exhibit the highest growth rate during the forecast period. This high growth is attributed to growing solar installations across educational institutes, offices, factories, hospitals, and warehouses. In addition, the residential segment is also exhibiting significant growth with a focus on sustainable development and overlaying the rising power cost in the country. Government initiatives such as the Smart City project, the development of solar parks, and the solar energy subsidy scheme would further accelerate the adoption of solar installations across the residential and commercial segments.

India Solar Inverter Market (2019-2025)

Moreover, among system types, on-grid systems dominated the India solar inverter market share in 2018 owing to huge adoption across different applications, whereas, off-grid systems are majorly limited to rural electrification applications only.

Some of the key players in India solar inverter market include ABB, SMA, Growatt, Delta, and Microtek.

Rising consumer awareness coupled with surging participation of the residential and commercial sectors is driving the growth of India Solar Inverter Market Share. Supportive government policies and solar schemes are contributing to the demand for solar inverters.

The India solar inverter market report comprehensively covers the market by type, system type, power rating, applications, and regions. The India solar inverter market outlook report provides an unbiased and detailed analysis of the India solar inverter market trends, opportunities, high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India solar inverter market is anticipated to gain traction in the forthcoming years on the back of the rising government efforts by promoting renewable energy due to the rising environmental concern in the country, therefore solar inverter adoption is growing in the residential sector. Not only the residential but most of the sectors such as the commercial sector are also using solar power-based inverters to ensure a safe environment. In India Ushva solar inverters allow delivering 25% extra monetary savings which are estimated to indicate a positive side and contribute to growth prospects for the Indian solar inverter market in the coming timeframe.

Key Highlights of the Report

  • India Solar Inverter Market Overview
  • India Solar Inverter Market Outlook
  • India Solar Inverter Market Forecast
  • India Solar Inverter Market Size and India Solar Inverter Market Forecast for the Period 2018-2025F
  • Historical and Forecast data of India Solar Inverter Market Revenues for the Period 2015-2025F
  • Historical data of India Solar Inverter Market Revenues, By Types for the Period 2015-2018
  • Market Size & Forecast data of India Solar Inverter Market Revenues, By Types until 2025F
  • Historical data of India Solar Inverter Market Revenues, By System Types for the Period 2015-2018
  • Market Size & Forecast data of India Solar Inverter Market Revenues, By System Types until 2025F
  • Historical and Forecast data of India Solar Inverter Market Revenues, By Applications for the Period 2015-2025F
  • Historical and Forecast data of India Solar Inverter Market Revenues, By Power Rating for the Period 2015-2025F
  • Historical and Forecast data of India Solar Inverter Market Revenues, By Regions for the Period 2015-2025F
  • Market Drivers, Restraints
  • India Solar Inverter Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis
  • Market Opportunity Assessment
  • India Solar Inverter Market Share and Player’s Revenue Shares
  • India Solar Inverter Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Markets Covered:

India solar inverter market report provides a detailed analysis of the following market segments:

By Type

  • Central
  • String
  • Micro

By System Type

  • Off-Grid
  • On-Grid

By Regions

  • Northern
  • Eastern
  • Western
  • Southern

By Applications

  • Commercial
  • Power Utility
  • Residential

By Power Rating

  • Below 10 kW
  • 10-100 kW
  • 100.1-1 MW
  • Above 1 MW

Other Key Reports Available:

  • Australia Solar Inverter Market Report
  • Malaysia Solar Inverter Market Report
  • Vietnam Solar Inverter Market Report
1 Executive Summary
2 Introduction
2.1  Report Description
2.2  Key Highlights of the Report
2.3  Market Scope & Segmentation
2.4  Research Methodology
2.5  Assumptions
3 India Solar Inverter Market Overview
3.1  India Solar Inverter Market Revenues (2015-2025F)
3.2  India Solar Inverter Market - Industry Life Cycle
3.3  India Solar Inverter Market - Porter’s Five Forces
3.4  India Solar Inverter Market Revenue Share, By Type (2018 & 2025F)
3.5  India Solar Inverter Market Revenue Share, By System Type (2018 & 2025F)
3.6  India Solar Inverter Market Revenue Share, By Application (2018 & 2025F)
3.7  India Solar Inverter Market Revenue Share, By Power Rating (2018 & 2025F)
3.8  India Solar Inverter Market Revenue Share, By Region (2018 & 2025F)
4 India Solar Inverter Market Dynamics
4.1  Impact Analysis
4.2  Market Drivers
4.3  Market Restraints
5 India Solar Inverter Market Trends
6 India Solar Inverter Market Overview, By Type
6.1  India Solar Inverter Market Revenues, By Central Solar Inverter (2015-2025F)
6.2  India Solar Inverter Market Revenues, By String Solar Inverter (2015-2025F)
6.3  India Solar Inverter Market Revenues, By Micro Solar Inverter (2015-2025F)
7 India Solar Inverter Market Overview, By System Type
7.1  India Solar Inverter Market Revenues, By On-Grid (2015-2025F)
7.2  India Solar Inverter Market Revenues, By Off Grid (2015-2025F)
8 India Solar Inverter Market Overview, By Application
8.1  India Solar Inverter Market Revenues, By Commercial Application (2015-2025F)
8.2  India Solar Inverter Market Revenues, By Power Utility Application (2015-2025F)
8.3  India Solar Inverter Market Revenues, By Residential Application (2015-2025F)
9 India Solar Inverter Market Overview, By Power Rating
9.1  India Solar Inverter Market Revenues, By Below 10 kW (2015-2025F)
9.2  India Solar Inverter Market Revenues, By 10 kW – 100 kW (2015-2025F)
9.3  India Solar Inverter Market Revenues, By 100.1 kW – 1MW (2015-2025F)
9.4  India Solar Inverter Market Revenues, By Above 1 MW (2015-2025F)
10 India Solar Inverter Market Overview, By Region
10.1  India Solar Inverter Market Revenues, By Northern Region (2015-2025F)
10.2  India Solar Inverter Market Revenues, By Eastern Region (2015-2025F)
10.3  India Solar Inverter Market Revenues, By Western Region (2015-2025F)
10.4  India Solar Inverter Market Revenues, By Southern Region (2015-2025F)
11 India Solar Inverter Market Overview, By Key States
12 India Solar Inverter Market Government Initiatives
13 India Solar Inverter Market Key Performance Indicators
14 India Solar Inverter Market Opportunity Assessment
14.1  India Solar Inverter Market Opportunity Assessment, By Type (2025F)
14.2  India Solar Inverter Market Opportunity Assessment, By Application (2025F)
14.3  India Solar Inverter Market Opportunity Assessment, By Region (2025F)
15 India Solar Inverter Market Ecosystem Analysis
16 India Solar Inverter Market Competitive Landscape
16.1  India Solar Inverter Market Revenue Share, By Company (2018)
16.2  India Solar Inverter Pricing, By Company (2018)
16.3  India Solar Inverter Market Competitive Benchmarking, By Technical Parameters
17 Company Profiles
17.1  Delta Electronics Ltd.
17.2  Ginlong Technologies
17.3  ABB
17.4  Sungrow
17.5  Growatt New Energy Technology Co., Ltd
17.6  SMA Solar Technology AG
17.7  Goodwe
17.8  Luminous India
17.9  Microtek International Pvt. Ltd.
17.1  Livguard
17.11  Exide Industries Ltd.
17.12  Hitachi Hi-Rel Power Electronic Pt. Ltd.
18  Key Strategic Recommendations
19  Disclaimer
 LIST OF FIGURES
 Figure1. India Solar Inverter Market Revenues, 2015-2025F (INR Crore)
 Figure2. India Solar Inverter Market - Industry Life Cycle, 2018
 Figure3. India Solar Inverter Market Revenue Share, By Type, (2018 & 2025F)
 Figure4. India Solar Inverter Market Revenue Share, By System Type, (2018 & 2025F)
 Figure5. India Solar Inverter Market Revenue Share, By Application, (2018 & 2025F)
 Figure6. India Solar Inverter Market Revenue Share, By Power Rating, (2018 & 2025F)
 Figure7. India Solar Inverter Market Revenue Share, By Region, (2018 & 2025F)
 Figure8. Solar Park Capacities in the Key States, MW (2019)
 Figure9. India Solar Capacity Addition (MW), 2015-2023F
 Figure10. Declining Solar Inverter Price ($ per Watt)
 Figure11. India Solar Inverter Market Revenues, By Commercial Application, 2015-2025F (INR Crore)
 Figure12. India Solar Inverter Market Revenues, By Power Utility Application, 2015-2025F (INR Crore)
 Figure13. India Solar Inverter Market Revenues, By Residential Application, 2015-2025F (INR Crore)
 Figure14. India Solar Inverter Market Revenues, By Northern Region, 2015-2025F (INR Crore)
 Figure15. India Solar Inverter Market Revenues, By Eastern Region, 2015-2025F (INR Crore)
 Figure16. India Solar Inverter Market Revenues, By Western Region, 2015-2025F (INR Crore)
 Figure17.  India Solar Inverter Market Revenues, By Southern Region, 2015-2025F (INR Crore)
 Figure18. India Solar Inverter Market Revenue Share, By Key States, By Northern Region, 2018
 Figure19. India Solar Inverter Market Revenue Share, By Key States, By Eastern Region, 2018
 Figure20. India Solar Inverter Market Revenue Share, By Key States, By Western Region, 2018
 Figure21. India Solar Inverter Market Revenue Share, By Key States, By Southern Region, 2018
 Figure22. Technology Wise Contribution Towards Renewable Energy Targets, India (2022)
 Figure23. India Renewable Energy Capacity Target, 2019-2022F (MW)
 Figure24. Total Renewable Energy Capacity Addition Share in 2019, MW
 Figure25. India Solar Tenders and Auctions in 2019 (MW)
 Figure26. India Top Ten States in Solar Installation Capacity (MW), Till March 2019
 Figure27. India Solar Capacity Addition in the Individual States in 2019, MW
 Figure28. Leading Project Developers to Commission Utility-Scale Solar Capacity in 2019, MW
 Figure29. India Rooftop PV Installation Target till March 2022 (MW)
 Figure30. India Solar Inverter Market Opportunity Assessment, By Type (2025F)
 Figure31. India Solar Inverter Market Opportunity Assessment, By Application Type (2025F)
 Figure32. India Solar Inverter Market Opportunity Assessment, By Region (2025F)
 Figure33. India Solar Inverter Market Revenue Share, By Company, 2018
 LIST OF TABLES
 Table1. GST Rates for Major Solar Equipment, 2018
 Table2. India Solar Inverter Market Revenues, By Type, 2015-2025F (INR Crore)
 Table3. India Solar Inverter Market Revenues, By System Type, 2015-2025F (INR Crore)
 Table4. India Solar Inverter Market Revenues, By Power Rating, 2015-2025F (INR Crore)
 Table5. India Solar Inverter Market Revenues, By Key States, 2018 (INR Crore)
 Table6. India Solar Capacity Target (GW), By Segments, 2018-2022F
 Table7. India Proposed Plans Under Green Corridor Phase II, By States
 Table8. India Solar Energy Potential, By States
 Table9. India Solar Inverter Market Revenues, By Company, 2018
 Table10. Delta Solar Inverter Price Per Unit
 Table11. ABB Solar Inverter Price Per Unit
 Table12. Luminous Solar Inverter Price Per Unit
 Table13. Growatt Solar Inverter Price Per Unit
 Table14. SMA Solar Inverter Price Per Unit
 
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