Dublin, Feb. 25, 2021 (GLOBE NEWSWIRE) -- The "India Solar Inverter Market (2020-2026): Market Forecast by Types,?by System Type, by Applications, by Power Rating, by Regions, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
The India Solar Inverter Market size is projected to grow at a CAGR of 14.4% during 2020-2026F.
The Indian 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.
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 overlaying 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 devise and align their market strategies according to the current and future market dynamics.
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Report Description
2.2 Key Highlights of the Report
2.3 Market Scope & Segmentation
2.4 Methodology Adopted & Key Data Points
2.5 Assumptions
3. India Solar Inverter Market Overview
3.1 India Solar Inverter Market Revenues, 2016-2026F
3.2 India Solar Inverter Market-Industry Life Cycle
3.3 India Solar Inverter Market-Porter's Five Forces
3.4 India Solar Inverter Market Revenue Share, By Types, 2019 & 2026F
3.5 India Solar Inverter Market Revenue Share, By System Types, 2019 & 2026F
3.6 India Solar Inverter Market Revenue Share, By Applications, 2019 & 2026F
3.7 India Solar Inverter Market Revenue Share, By Power Rating, 2019 & 2026F
3.8 India Solar Inverter Market Revenue Share, By Regions, 2019 & 2026F
4. India Solar Inverter Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5. India Solar Inverter Market Trends
6. India Solar Inverter Market Overview, By Types
6.1 India Solar Inverter Market Revenues, By Central Solar Inverter, 2016-2026F
6.2 India Solar Inverter Market Revenues, By String Solar Inverter, 2016-2026F
6.3 India Solar Inverter Market Revenues, By Micro Solar Inverter, 2016-2026F
7. India Solar Inverter Market Overview, By System Type
7.1 India Solar Inverter Market Revenues, By On Grid, 2016-2026F
7.2 India Solar Inverter Market Revenues, By Off Grid, 2016-2026F
8. India Solar Inverter Market Overview, By Applications
8.1 India Solar Inverter Market Revenues, By Commercial Application, 2016-2026F
8.2 India Solar Inverter Market Revenues, By Power Utility Application, 2016-2026F
8.3 India Solar Inverter Market Revenues, By Residential Application, 2016-2026F
9. India Solar Inverter Market Overview, By Power Rating
9.1 India Solar Inverter Market Revenues, By Below 10 kW, 2016-2026F
9.2 India Solar Inverter Market Revenues, By 10 kW - 100 kW, 2016-2026F
9.3 India Solar Inverter Market Revenues, By 100.1 kW - 1MW, 2016-2026F
9.4 India Solar Inverter Market Revenues, By Above 1 MW, 2016-2026F
10. India Solar Inverter Market Overview, By Regions
10.1 India Solar Inverter Market Revenues, By Northern Region, 2016-2026F
10.2 India Solar Inverter Market Revenues, By Eastern Region, 2016-2026F
10.3 India Solar Inverter Market Revenues, By Western Region, 2016-2026F
10.4 India Solar Inverter Market Revenues, By Southern Region, 2016-2026F
11. India Solar Inverter Market Government Initiatives
12. India Solar Inverter Market Key Performance Indicators
13. India Solar Inverter Market Opportunity Assessment
13.1 India Solar Inverter Market Opportunity Assessment, By Types, 2026F
13.2 India Solar Inverter Market Opportunity Assessment, By Applications, 2026F
13.3 India Solar Inverter Market Opportunity Assessment, By Regions, 2026F
14. India Solar Inverter Market Competitive Landscape
14.1 India Solar Inverter Market Revenue Share, By Company, 2019
14.2 India Solar Inverter Market Competitive Benchmarking
14.2.1 India Solar Inverter Market Competitive Benchmarking, By Types and System Types
14.2.2 India Solar Inverter Market Competitive Benchmarking, By 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. Ltd.
15.6 Sineng Electric Co Ltd
15.7 Kehua Technology Pvt Ltd.
15.8 Delta Electronics India Pvt. Ltd.
15.9 Hitachi Hi-Rel Power Electronics Power Ltd.
15.10 Medha Servo Drives Pvt. Ltd.
16. Key Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/7z3ljz