Jul 9, 2019   SOURCE: BusinessWire

Indian Solar Electric System and Inverter Market Forecast, 2019-2024 - ResearchAndMarkets.com

The "Indian Solar Electric System and Inverter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

The Indian solar photo voltaic system market and the solar inverter market are projected to reach volumes of 101,520 MW and 22,878 MW by 2024, exhibiting a CAGR of 26.9% and 14.5% during 2019-2024 respectively.

A solar panel refers to a collection of solar cells which is employed to generate electricity using sunlight as the energy source. A solar inverter, on the other hand, is a device which helps in converting the direct current produced by the solar panels into alternating current. This current is then supplied to either storage batteries, power grids or houses for operating various appliances. Several efforts are being made by the Government of India to harness renewable sources, such as wind, solar, geothermal, etc. for energy production due to their easy availability. Amongst these, solar power is amongst the fastest developing segment, owing to the suitable geographical location of India which offers an ample supply of sunlight throughout the year.

Indian Solar Electric System and Inverter Market Trends:

The Indian government is encouraging the use of renewable sources of energy like solar, wind, etc. so as to decrease the dependency on non-renewable sources and reduce their carbon footprint. As a result, the Government has undertaken several initiatives including the Solar Rooftop Scheme, Jawaharlal Nehru National Solar Mission and Solar Energy Subsidy Scheme which are catalyzing the demand for solar power systems in the region.

Solar power systems are currently available in various forms such as off-grid solar power system, grid inter-tied solar power system with battery backup, and grid inter-tied solar power system without battery backup. According to their requirements, the consumers can easily choose from these varieties and install the system in their houses or office buildings.

Due to its location between the Tropic of Cancer and the Equator, India has an average annual temperature that ranges from 25 degree Celsius to 27 degree Celsius. Owing to this, the country has a huge potential for solar power generation. As per government estimations, India receives solar radiation of about 5,000tn kWh per year. This, coupled with the availability of barren land, increases the feasibility of solar energy systems in the country.

Although, the initial cost for setting up a solar power system is very high, the maintenance cost associated with solar products is relatively low. Moreover, there is no professional operator required to run the system, unlike the conventional power system.

Decreasing prices of equipment used for solar panel manufacturing has significantly reduced the overall cost of solar PV panels, enabling solar power companies to expand their capacities.

Key Topics Covered:

1 Preface

2 Scope and Methodology

2.1 Objectives of the Study

2.2 Stakeholders

2.3 Data Sources

2.3.1 Primary Sources

2.3.2 Secondary Sources

2.4 Market Estimation

2.4.1 Bottom-Up Approach

2.4.2 Top-Down Approach

2.5 Forecasting Methodology

2.6 Study Assumptions

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Solar Electric System Industry

5.1 Market Overview

5.2 Market Performance

5.3 Market Breakup by Technology Type

5.4 Market Breakup by Installation Type

5.5 Market Breakup by Region

5.6 Market Forecast

6 Global Solar Inverter Industry

6.1 Market Overview

6.2 Market Performance

6.3 Market Breakup by Inverter Type

6.4 Market Breakup by Region

6.5 Market Forecast

7 Indian Solar Electric System Market

7.1 Market Overview

7.2 Market Performance

7.3 Market Breakup by Technology Type

7.3.1 Crystalline Silicon

7.3.1.1 Market Trends

7.3.1.2 Market Forecast

7.3.2 Thin Films

7.4 Market Breakup by Installation Type

7.4.1 Ground Mounted

7.4.2 Rooftop

7.5 Market Breakup by Region

7.5.1 Telangana

7.5.2 Rajasthan

7.5.3 Andhra Pradesh

7.5.4 Tamil Nadu

7.5.5 Karnataka

7.5.6 Gujarat

7.5.7 Others

7.6 Market Forecast

7.7 Key Market Drivers and Success Factors

8 Indian Solar Inverter Market

8.1 Market Overview

8.2 Market Performance

8.3 Market Breakup by Inverter Type

8.3.1 Central Inverter

8.3.1.1 Market Trends

8.3.1.2 Market Forecast

8.3.2 String Inverter

8.3.3 Others

8.4 Market Breakup by Region

8.4.1 Telangana

8.4.2 Tamil Nadu

8.4.3 Rajasthan

8.4.4 Andhra Pradesh

8.4.5 Gujarat

8.4.6 Karnataka

8.4.7 Others

8.5 Market Forecast

9 SWOT Analysis

9.1 Overview

9.2 Strengths

9.3 Weaknesses

9.4 Opportunities

9.5 Threats

10 Value Chain Analysis

11 Porter's Five Forces Analysis

11.1 Overview

11.2 Bargaining Power of Buyers

11.3 Bargaining Power of Suppliers

11.4 Degree of Rivalry

11.5 Threat of New Entrants

11.6 Threat of Substitutes

12 Manufacturing Process

12.1 Solar Panel Manufacturing Process

12.1.1 Product Overview

12.1.2 Detailed Process Flow

12.1.3 Various Types of Unit Operations Involved

12.1.4 Mass Balance and Raw Material Requirements

12.2 Solar Inverter Manufacturing Process

12.2.3 Various Types of Unit Operations Involved

12.2.4 Mass Balance and Raw Material Requirements

13 Government Initiatives

13.1 Jawaharlal Nehru National Solar Mission

13.2 Solar Rooftop Subsidy Scheme Yojana

13.3 Solar Park Scheme

13.4 VGF (Viability Gap Funding) Scheme

13.5 Solar Energy Subsidy Scheme

13.6 UDAY Scheme

14 Competitive Landscape

14.1 Competitive Structure

14.2 Key Players

15 Profile of Key Players

15.1 Solar Inverter Key Players

15.1.1 ABB

15.1.2 TMEIC

15.1.3 SMA

15.1.4 Hitachi

15.1.5 Sungrow Power Supply Co., LTD.

15.1.6 Huawei

15.1.7 Schneider Electric

15.2 Solar Panel Key Players

15.2.1 Vikram Solar Pvt Ltd

15.2.2 Waree Solar Energy Pvt Ltd

15.2.3 Adani Enterprises Ltd

15.2.4 Goldi Green Technologies Pvt Ltd

15.2.5 Tata Power Solar Systems Ltd

15.2.6 Moser Baer Solar Ltd

15.2.7 XL Energy Ltd

15.2.8 Solar Semiconductor Pvt Ltd

15.2.9 Emmvee Photovoltaics Pvt Ltd

15.2.10 Navitas Green Solutions Pvt Ltd

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