DUBLIN, Jan. 21, 2019 /PRNewswire/ --
The "Indian Solar Electric System and Inverter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
Indian solar photo voltaic system market and the solar inverter market are projected to reach volumes of 80,000 MW and 19,981 MW by 2023, exhibiting a CAGR of 26.9% and 14.5% during 2018-2023 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.
Scope of the Report
Market Breakup by Technology Type:
On the basis of technology type, the market has been segmented into crystalline silicon and thin films. Amongst these, crystalline silicon (c-Si) represents the bigger segment.
Market Breakup by Installation Type:
Based on the installation type, ground mounted solar panels exhibit a clear dominance, accounting for the majority of the total market share. This can be attributed to their advantages, such as easy installation, productivity and easy accessibility for cleaning and maintenance.
Region-wise, the market has been divided into Telangana, Rajasthan, Andhra Pradesh, Tamil Nadu, Karnataka, Gujarat and others. Amongst these, Telangana holds the largest market share owing to several initiatives by the State Government under the Telangana Solar Power Policy 2015'.
Solar Inverter Market
Market Breakup by Inverter Type:
On the basis of inverter type, central inverters represent the biggest segment, holding the largest market share. This can be attributed to the advantages offered by these inverters like high efficiency, low cost, credibility and easy installation. Central inverters are followed by string inverters and others.
On a geographical front, Telangana represents the leading market for solar power inverters, followed by Tamil Nadu, Rajasthan, Andhra Pradesh, Gujarat and Karnataka. Upcoming construction of floating solar power plants in Himayathsagar and Osmansagar are expected to propel the growth of the market.
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
2.6 Study Assumptions
3 Executive Summary
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
7.3.2 Thin Films
7.4 Market Breakup by Installation Type
7.4.1 Ground Mounted
7.5 Market Breakup by Region
7.5.3 Andhra Pradesh
7.5.4 Tamil Nadu
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
8.3.2 String Inverter
8.4 Market Breakup by Region
8.4.2 Tamil Nadu
8.4.4 Andhra Pradesh
8.5 Market Forecast
9 SWOT Analysis
10 Value Chain Analysis
11 Porter's Five Forces Analysis
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
12.2.1 Product Overview
12.2.2 Detailed Process Flow
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
15.1.5 Sungrow Power Supply Co., LTD.
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
For more information about this report visit https://www.researchandmarkets.com/research/h9swqk/india_solar?w=5
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