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.
To enquire about the latest release please click here
Previous Release:
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.
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
