The report, "India Solar Inverter Market (2020-2026): Market Forecast by Types, System Types, Applications, Ratings, Regions, and Competitive Landscapes" has been added ResearchAndMarkets.com Offer.
Indian solar inverter market size is projected to grow 14.4% in 2020-2026F.
The Indian solar inverter market grew significantly over the 2016-2019 period, driven by several government efforts to improve the share of solar power in the country's power generation mix, such as the Indian government's National Solar Mission targeting 100 GW of solar by the year 2022.
Growing consumer awareness, increasing residential and commercial segment involvement in solar systems, supportive government policies and solar systems, and increasing private sector involvement are other important factors contributing to the growth of the solar inverter market in India.
However, the ongoing COVID-19 pandemic slowed the rate of growth in market revenue in 2020 due to a decline in market demand in the lockdown phase across the country. In addition, the market began to show signs of improvement with the gradual opening of the economy and the lifting of lockdown measures in the second half of the year and is expected to return to normal growth in the years to come.
Growing environmental awareness, government financial support in the form of subsidies, new initiatives and renewable energy targets launched by the Ministry of New and Renewable Energy (MNRE) would boost the revenue of the solar inverter market in India in the coming years Years to increase.
The market is dominated by the utility sector due to its large solar projects with a large number of solar inverters. It is also estimated that the commercial segment will show the highest growth rate over the forecast period. The high growth is due to growing solar systems in educational institutions, offices, factories, hospitals and warehouses. In addition, the residential segment is showing significant growth, with an emphasis on sustainable development and overlaying the country's rising electricity costs.
The story goes on
Government initiatives such as the Smart City project, the development of solar parks and the solar energy subsidy system would further accelerate the introduction of solar systems in residential and commercial segments.
Among the system types, off-grid systems dominated the market in 2019 due to wide acceptance in various applications, while off-grid systems are mainly limited to rural electrification applications. However, growth is expected in the coming years.
The India Solar Inverter market report covers the market comprehensively 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, growth areas, and market drivers that would help the stakeholders develop and align their market strategies according to current and future market dynamics.
Key highlights of the report
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Overview of solar inverters market in India
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Market outlook for solar inverters in India
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Market forecast for solar inverters in India
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Solar Inverter Market Share in India by Region
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Solar Inverter Market Size in India and Solar Inverter Market Forecast in India for the period 2016-2026F
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Historical data of solar inverter market revenue in India by type for the period 2016-2019
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Solar Inverter Market Size and Revenue forecast data in India, by Types to 2026F
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Historical data of Indian solar inverter market revenue by system type for the period 2016-2019
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Solar Inverter Market Size and Revenue forecast data in India, by System Type to 2026F
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Historical data of India solar inverter market revenue by application for the period 2016-2019
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Indian Solar Inverter Market Size and forecast data by application to 2026F
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Historical data of the solar inverter market revenue in India by power rating for the period 2016-2019
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India Solar Inverter market size and forecast data, by power rating to 2026F
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Historical data of the solar inverter market revenue in India by region for the period 2016-2019
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Solar Inverter Market Size and Revenue Forecast Data in India, by Region to 2026F
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Solar Inverter Market Drivers and Restrictions in India
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Solar Inverter Market Trends in India
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Industry life cycle
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Porter's Five Forces Analysis
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Evaluation of the market opportunities
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Solar Inverter Market Share in India by Company
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Overview of solar inverters market in India after competitive benchmarking
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Company profiles
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Important strategic recommendations
Markets Covered:
India Solar Inverter market report offers a detailed analysis of the following market segments:
By type
By system type
After applications
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Commercially
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Electric utility company
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Residential
According to nominal power
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Less than 10 kW
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10-100 kW
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1-1 MW
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About 1 MW
By region
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North
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east
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Western film
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south
Mentioned companies
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Delta Electronics India Pvt. GmbH.
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FIMER Ltd.
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Hitachi Hi-Rel Power Electronics Power Ltd.
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Huawei Technology Co Ltd.
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Kehua Technology Pvt Ltd.
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Medha Servo Drives Pvt. GmbH.
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Sineng Electric Co Ltd.
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Sungrow Power Supply Co., Ltd.
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TBEA Energy (India) Pvt. GmbH.
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Toshiba Mitsubishi-Electric Industrial Systems Corporation
Please visit https://www.researchandmarkets.com/r/6dr7ns for more information on this report
View source version on businesswire.com: https://www.businesswire.com/news/home/20210224005477/de/
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