Dublin, February 25, 2021 (GLOBE NEWSWIRE) – The report “India Solar Inverter Market (2020-2026): Market Forecast by Types, System Type, Applications, Rated Power, Regions, and Competitive Landscape” 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 in 2016-2019. This is due to several government efforts to improve the share of solar power in the country's power generation mix, such as the Government of India's National Solar Mission with a target of 100 GW of solar power by 2022.
Rising 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 renewable energy initiatives and 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.
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 comprehensively covers the market by type, system type, power rating, application and region. The India Solar Inverter Market outlook 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.
Main topics covered:
2.1 Description of the report
2.2 Key highlights of the report
2.3 Market Size and Segmentation
2.4 Adopted methodology and key data points
3. Market overview of Indian solar inverters
3.1 India Solar Inverter Market Revenue, 2016-2026F
3.2 India Solar Inverter Market Industry Life Cycle
3.3 The Five Forces of India Solar Inverter Market-Porter
3.4 Indian Solar Inverter Market Share by Type, 2019 and 2026F
3.5 Sales Share of the Indian Solar Inverter Market by System Type, 2019 and 2026F
3.6 Indian Solar Inverter Market Share By Application, 2019 and 2026F
3.7 Indian solar inverter market share by performance evaluation, 2019 and 2026F
3.8 Indian Solar Inverter Market Share by Region, 2019 and 2026F
4. Solar Inverter Market Dynamics in India
4.1 Impact analysis
4.2 Market drivers
4.3 Market Restrictions
5. Solar Inverter Market Trends in India
6. India Solar Inverter Market Review by Type
6.1 India Solar Inverter Market Revenues by Central Solar Inverter, 2016-2026F
6.2 Solar Inverter Market Revenue in India, According to String Solar Inverter, 2016-2026F
6.3 Solar Inverter Market Revenue in India According to Micro Solar Inverter, 2016-2026F
7. India Solar Inverter Market Review by System Type
7.1 Solar Inverter Market Revenue in India, By On Grid, 2016-2026F
7.2 India Solar Inverter Market Revenue, Off-Grid, 2016-2026F
8. India Solar Inverter Market Review by Application
8.1 India Solar Inverter Market Revenue, By Commercial Application, 2016-2026F
8.2 India Solar Inverter Market Revenue By Electricity Company, 2016-2026F
8.3 India Solar Inverter Market Revenues by Residential Area, 2016-2026F
9. Market overview of Indian solar inverters by nominal power
9.1 Solar Inverter Market Revenue in India, Below 10kW, 2016-2026F
9.2 Solar Inverter Market Revenue In India, Around 10kW – 100kW, 2016-2026F
9.3 Solar Inverter Market Revenue in India around 100.1kW – 1MW, 2016-2026F
9.4 Solar Inverter Market Revenue in India, Over 1MW, 2016-2026F
10. India Solar Inverter Market Overview by Region
10.1 India Solar Inverter Market Revenue by Region, 2016-2026F
10.2 India Solar Inverter Market Revenue by Region, 2016-2026F
10.3 India Solar Inverter Market Revenues by Western Region, 2016-2026F
10.4 India Solar Inverter Market Revenues by Region, 2016-2026F
11. Initiatives of the Indian market government for solar inverters
12. India Solar Inverter Market Key Performance Indicators
13. Assessment of the market opportunities for solar inverters in India
13.1 Assessment of Solar Inverter Market Opportunities in India by Type, 2026F
13.2 Assessment of Solar Inverter Market Opportunities in India by Application, 2026F
13.3 Assessment of Indian Solar Inverter Market Opportunities by Region, 2026F
14. The competitive landscape in the Indian solar inverter market
14.1 Indian solar inverter market share by company, 2019
14.2 Competitive benchmarking in the Indian solar inverter market
14.2.1 Competitive benchmarking in the Indian solar inverter market by types and system types
14.2.2 Competitive benchmarking on the Indian market for solar inverters according to operating parameters
15. Company profiles
15.1 Huawei Technology Co Ltd.
15.2 Toshiba Mitsubishi-Electric Industrial Systems Corporation
15.3 Sungrow Power Supply Co., Ltd.
15.4 FIMER Ltd.
15.5 TBEA Energy (India) Pvt. GmbH.
15.6 Sineng Electric Co. LTD
15.7 Kehua Technology Pvt Ltd.
15.8 Delta Electronics India Pvt. GmbH.
15.9 Hitachi Hi-Rel Power Electronics Power Ltd.
15.10 Medha Servo Drives Pvt. GmbH.
16. Key strategic recommendations
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