Code: MTA10102 | Publication Date: Oct 2025 |
This growth is being driven by rising energy demand, government support for renewable energy initiatives, and a growing need for energy storage solutions. The inverter market is expected to comprise over 15% of the overall energy solutions market in India by 2024.
The India inverter market is experiencing strong tailwinds of development and growth driven by increasing adoption of solar energy solutions. Inverters are now delivering high efficiency, low cost and are a preferred option for jurisdictions looking to be available for residential, commercial and industrial applications. At the same time, the positive trend of inverters operating in concert with energy storage systems and controlling energy management is strengthening. Furthermore, there is growing market acceptance and deployment of hybrid inverters, combining energy storage systems and the grid. Hybrid solutions are becoming increasingly accepted in the Indian market.
The India inverter market is undergoing significant developments, with new technological advancements enhancing efficiency and reducing costs. Companies are focusing on developing inverters that are compatible with the growing solar energy infrastructure and provide better energy management solutions. With the government's push toward renewable energy, the demand for advanced hybrid and battery-based inverters is increasing. Furthermore, smart inverters, which allow for remote monitoring and control, are being adopted for both residential and industrial applications.
Some of the leading companies include: