India Solar Inverter Market (2020-2026)
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: ETC037269 | Publication Date: Nov 2020 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 104 | No. of Figures: 39 | No. of Tables: 8 |
The India solar inverter market grew at a considerable rate during the period 2016-2019 as a result of several government efforts to improve the share of solar power in the country’s energy generation mix such as the National Solar Mission by the Government of India targeting 100 GW 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, and increasing private sector involvement are the other major factors contributing to the growth of the solar inverter market in India. However, the ongoing pandemic COVID-19 slowed down the growth rate of market revenues during the year 2020 as a result of a decline in market demand in the lockdown phase across the country. Moreover, with the gradual opening of the economy and removal of lockdown measures, the market began to show signs of improvement during the second half of the year and is anticipated to return to a normal growth trajectory in the upcoming years.
According to 6Wresearch, India Solar Inverter Market size is projected to grow at a CAGR of 14.4% during 2020-2026F. Increasing environmental awareness, financial support from the government in the form of subsidies, new initiatives and targets for renewable energy launched by the Ministry of New and Renewable Energy (MNRE) would further drive the solar inverter market revenues in India over the coming years. The 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. The 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 to overlay 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 residential and commercial segments. Moreover, among system types, on-grid systems dominated the market in 2019 owing to huge adoption across different applications, whereas, off- grid systems are majorly limited to rural electrification applications only however, growth is expected in coming years.
The India solar inverter market report comprehensively covers the market by type, system type, power rating, application and region. 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 device and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report
- India Solar Inverter Market Overview
- India Solar Inverter Market Outlook
- India Solar Inverter Market Forecast
- India Solar Inverter Market Share, By Regions
- India Solar Inverter Market Size and India Solar Inverter Market Forecast, for the Period 2016-2026F
- Historical data of India Solar Inverter Market Revenues, By Types for the Period 2016-2019
- Market Size & Forecast data of India Solar Inverter Market Revenues, By Types until 2026F
- Historical data of India Solar Inverter Market Revenues, By System Types for the Period 2016-2019
- Market Size & Forecast data of India Solar Inverter Market Revenues, By System Types until 2026F
- Historical data of India Solar Inverter Market Revenues, By Applications for the Period 2016-2019
- Market Size and Forecast data of India Solar Inverter Market Revenues, By Applications until 2026F
- Historical data of India Solar Inverter Market Revenues, By Power Rating for the Period 2016-2019
- Market Size and Forecast data of India Solar Inverter Market Revenues, By Power Rating until 2026F
- Historical data of India Solar Inverter Market Revenues, By Region for the Period 2016-2019
- Market Size and Forecast data of India Solar Inverter Market Revenues, By Region until 2026F
- India Solar Inverter Market Drivers and Restraints
- India Solar Inverter Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- India Solar Inverter Market Share, By Companies
- India Solar Inverter Market Overview, By 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 Applications
- Commercial
- Power Utility
- Residential
- By Power Rating
- Below 10 kW
- 10-100 kW
- 1-1 MW
- Above 1 MW
- By Regions
- Northern
- Eastern
- Western
- Southern
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1. Executive Summary |
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2. Introduction |
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2.1 Report Description |
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2.2 Key Highlights of the Report |
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2.3 Market Scope & Segmentation |
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2.4 Methodology Adopted & Key Data Points |
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2.5 Assumptions |
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3. India Solar Inverter Market Overview |
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3.1 India Solar Inverter Market Revenues, 2016-2026F |
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3.2 India Solar Inverter Market-Industry Life Cycle |
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3.3 India Solar Inverter Market-Porter’s Five Forces |
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3.4 India Solar Inverter Market Revenue Share, By Types, 2019 & 2026F |
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3.5 India Solar Inverter Market Revenue Share, By System Types, 2019 & 2026F |
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3.6 India Solar Inverter Market Revenue Share, By Applications, 2019 & 2026F |
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3.7 India Solar Inverter Market Revenue Share, By Power Rating, 2019 & 2026F |
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3.8 India Solar Inverter Market Revenue Share, By Regions, 2019 & 2026F |
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4. India Solar Inverter Market Dynamics |
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4.1 Impact Analysis |
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4.2 Market Drivers |
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4.3 Market Restraints |
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5. India Solar Inverter Market Trends |
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6. India Solar Inverter Market Overview, By Types |
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6.1 India Solar Inverter Market Revenues, By Central Solar Inverter, 2016-2026F |
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6.2 India Solar Inverter Market Revenues, By String Solar Inverter, 2016-2026F |
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6.3 India Solar Inverter Market Revenues, By Micro Solar Inverter, 2016-2026F |
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7. India Solar Inverter Market Overview, By System Type |
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7.1 India Solar Inverter Market Revenues, By On Grid, 2016-2026F |
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7.2 India Solar Inverter Market Revenues, By Off Grid, 2016-2026F |
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8. India Solar Inverter Market Overview, By Applications |
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8.1 India Solar Inverter Market Revenues, By Commercial Application, 2016-2026F |
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8.2 India Solar Inverter Market Revenues, By Power Utility Application, 2016-2026F |
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8.3 India Solar Inverter Market Revenues, By Residential Application, 2016-2026F |
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9. India Solar Inverter Market Overview, By Power Rating |
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9.1 India Solar Inverter Market Revenues, By Below 10 kW, 2016-2026F |
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9.2 India Solar Inverter Market Revenues, By 10 kW – 100 kW, 2016-2026F |
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9.3 India Solar Inverter Market Revenues, By 100.1 kW – 1MW, 2016-2026F |
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9.4 India Solar Inverter Market Revenues, By Above 1 MW, 2016-2026F |
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10. India Solar Inverter Market Overview, By Regions |
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10.1 India Solar Inverter Market Revenues, By Northern Region, 2016-2026F |
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10.2 India Solar Inverter Market Revenues, By Eastern Region, 2016-2026F |
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10.3 India Solar Inverter Market Revenues, By Western Region, 2016-2026F |
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10.4 India Solar Inverter Market Revenues, By Southern Region, 2016-2026F |
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11. India Solar Inverter Market Government Initiatives |
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12. India Solar Inverter Market Key Performance Indicators |
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13. India Solar Inverter Market Opportunity Assessment |
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13.1 India Solar Inverter Market Opportunity Assessment, By Types, 2026F |
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13.2 India Solar Inverter Market Opportunity Assessment, By Applications, 2026F |
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13.3 India Solar Inverter Market Opportunity Assessment, By Regions, 2026F |
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14. India Solar Inverter Market Competitive Landscape |
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14.1 India Solar Inverter Market Revenue Share, By Company, 2019 |
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14.2 India Solar Inverter Market Competitive Benchmarking |
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14.2.1 India Solar Inverter Market Competitive Benchmarking, By Types and System Types |
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14.2.2 India Solar Inverter Market Competitive Benchmarking, By Operating Parameters |
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15. Company Profiles |
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15.1 Huawei Technology Co Ltd |
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15.2 Toshiba Mitsubishi-Electric Industrial Systems Corporation |
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15.3 Sungrow Power Supply Co., Ltd |
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15.4 FIMER Ltd. |
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15.5 TBEA Energy (India) Pvt. Ltd. |
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15.6 Sineng Electric Co Ltd |
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15.7 Kehua Technology Pvt Ltd. |
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15.8 Delta Electronics India Pvt. Ltd. |
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15.9 Hitachi Hi-Rel Power Electronics Power Ltd. |
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15.10 Medha Servo Drives Pvt. Ltd. |
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16. Key Strategic Recommendations |
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17. Disclaimer |
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List of Figures |
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1. India Solar Inverter Market Revenues, 2016-2026F (INR Crore) |
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2. India Solar Inverter Market Revenue Share, By Types, 2019 & 2026F |
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3. India Solar Inverter Market Revenue Share, By System Type, 2019 & 2026F |
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4. India Solar Inverter Market Revenue Share, By Applications, 2019 & 2026F |
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5. India Solar Inverter Market Revenue Share, By Power Rating, 2019 & 2026F |
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6. India Solar Inverter Market Revenue Share, By Region, 2019 & 2026F |
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7. Solar Park Capacities in Key States, MW (As on 31st December, 2019) |
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8. India Source Wise Installed Power Generation Capacity, As on 31st December, 2019 (MW) |
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9. India Solar Capacity Addition (MW), 2015-2023F |
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10. India Solar Inverter Market Revenues, By Commercial Application, 2016-2026F (INR Crore) |
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11. India Solar Inverter Market Revenues, By Power Utility Application, 2016-2026F (INR Crore) |
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12. India Solar Inverter Market Revenues, By Residential Application, 2016-2026F (INR Crore) |
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13. India Solar Inverter Market Revenues, By Northern Region, 2016-2026F (INR Crore) |
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14. India Solar Inverter Market Revenues, By Eastern Region, 2016-2026F (INR Crore) |
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15. India Solar Inverter Market Revenues, By Western Region, 2016-2026F (INR Crore) |
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16. India Solar Inverter Market Revenues, By Southern Region, 2016-2026F (INR Crore) |
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17. Technology Wise Contribution Towards Renewable Energy Targets, India (2022) |
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18. Monthly SECI Payment to Solar/Wind Developers, Jan 2020-July 2020 (INR Billion) |
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19. Installed Capacity of Different Sources of Power, F21* (GW) |
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20. India Solar Tenders and Auctions in 2019 (MW) |
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21. Top 10 Rooftop Solar States by Installed Capacity in India, 2020 (MW) |
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22. Global Average Solar PV Annual Investment(USD Billion/Year) |
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23. India Solar Capacity Addition in Individual States in 2019, MW |
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24. Leading Project Developers to Commission Utility Scale Solar Capacity in 2019, MW |
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25. India Rooftop PV Installation Target till March 2022 (MW) |
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26. India Solar Inverter Market Opportunity Assessment, By Types, 2026F |
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27. India Solar Inverter Market Opportunity Assessment, By Applications, 2026F |
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28. India Solar Inverter Market Opportunity Assessment, By Region, 2026F |
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29. India Solar Inverter Market Revenue Share, By Company, 2019 |
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List of Tables |
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1. Year-wise targets under National Solar Mission |
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2. Grid Tie Solar Inverter Weekly Retailer Price, As on 2nd November, 2020 ($/ Watt) |
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3. India Solar Inverter Market Revenues, By Types, 2016-2019 (INR Crore) |
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4. India Solar Inverter Market Revenues, By Types, 2016-2019 (INR Crore) |
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5. India Solar Inverter Market Revenues, By Power Rating, 2016-2019 (INR Crore) |
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6. India Solar Capacity Target (GW), By Segments, 2019-2022F |
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7. List of Solar Parks, By States (September 2020) |
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8. India Solar Energy Potential, By States |
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