Please Wait.....
Report
Indian Solar Electric System and Inverter Market Report and Forecast 2025-2034
Market Report I 2025-08-13 I 120 Pages I EMR Inc.
The Indian solar electric system and inverter markets are expected to reach volume of almost 43.20 Gigawatt by the year 2034 , growing at a CAGR of 13.10% between 2025 and 2034.
The Indian solar electric system and inverter market is driven by the rising awareness regarding renewable power resources. The market is further aided by the maintenance cost related to solar electric systems, which is comparatively low, helping it gain traction, especially in an emerging economy such as India. Telangana is the leading regional market in India.
Market Segmentation
A solar panel is referred to as a collection of cells which is utilised to produce electricity using sunlight as the energy source, whereas a solar inverter is referred to as a device which helps in the conversion of the direct current produced by the panels into alternating current. This current is then distributed to either power grids, storage batteries, or houses for operating various appliances.
The Indian solar electric system market is bifurcated on the basis of technology type into:
- Crystalline Silicon
- Thin Films
Out of these, crystalline silicon represents the most preferred segment.
On the basis of installation type, the Indian solar electric system market is segmented into:
- Ground Mounted
- Rooftop
Amongst these, the ground mounted segment hold the largest market share.
The Indian solar inverter market is segmented on the basis of inverter type into:
- Central Inverter
- String Inverter
- Others
On the basis of the inverter type, central inverters represent the leading type in the industry.
The Indian solar inverter market is segmented on the basis of region into:
- Telangana
- Tamil Nadu
- Rajasthan
- Andhra Pradesh
- Gujarat
- Karnataka
Market Analysis
The Indian solar electric system and inverter market is driven by the constant shortage in the electricity supply across the country. The market is further aided by the rising population, in conjunction with rising adoption rates of electronic appliances and heating, ventilating, and air conditioning (HVAC) systems, and electronic appliances, which has resulted in the escalating use and consequent deficit in the supply of electricity. In addition to this, the market is witnessing a reduction of the prices of equipment used in the production process of such electric systems, thereby reducing their average selling price and boosting the Indian solar electric system and inverter market growth.
The market is aided by the rising awareness of the risks associated with the use of conventional energy sources, leading to a significant shift in the preference of consumers toward cleaner power sources. Moreover, several government initiatives are encouraging the use of these systems and, consequently, impacting their sales positively. For example, the Government of India offers incentives and subsidies for the installation of rooftop systems. The government has taken many initiatives under its wings, which aim to achieve a national solar rooftop target of 40 GW till 2021-2022.
Competitive Landscape
The report gives a detailed analysis of the following key players in the Indian solar electric system and inverter market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Fimer S.p.A.
- Toshiba Mitsubishi-Electric Industrial Systems Corporation
- SMA Solar Technology AG
- Hitachi Hi-Rel Power Electronics Private Limited
- Vikram Solar Limited
- Waaree Energies Ltd.
- Adani Group
- Goldi Solar Pvt Ltd
- Tata Power Solar Systems Ltd
- Moser Baer Solar Limited
- XL Energy Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global Solar Electric System Market Overview
5.1 Key Industry Highlights
5.2 Global Solar Electric System Historical Market (2018-2024)
5.3 Global Solar Electric System Market Forecast (2025-2034)
5.4 Global Solar Electric System Market by Technology Type
5.5 Global Solar Electric System Market by Installation Type
5.6 Global Solar Electric System Market by Region
5.6.1 North America
5.6.2 Europe
5.6.3 Asia Pacific
5.6.4 Latin America
5.6.5 Middle East and Africa
6 Global Solar Invertor Market Overview
6.1 Key Industry Highlights
6.2 Global Solar Invertor Historical Market (2018-2024)
6.3 Global Solar Invertor Market Forecast (2025-2034)
6.4 Global Solar Invertor Market by Inverter Type
6.5 Global Solar Invertor Market by Region
6.5.1 North America
6.5.2 Europe
6.5.3 Asia Pacific
6.5.4 Latin America
6.5.5 Middle East and Africa
7 Indian Solar Electric System Market Analysis
7.1 Key Industry Highlights
7.2 Indian Solar Electric System Historical Market (2018-2024)
7.3 Indian Solar Electric System Market Forecast (2025-2034)
7.4 Indian Solar Electric System Market by Technology Type
7.4.1 Crystalline Silicon
7.4.1.1 Historical Trend (2018-2024)
7.4.1.2 Forecast Trend (2025-2034)
7.4.2 Thin Films
7.4.2.1 Historical Trend (2018-2024)
7.4.2.2 Forecast Trend (2025-2034)
7.5 Indian Solar Electric System Market by Installation Type
7.5.1 Ground Mounted
7.5.1.1 Historical Trend (2018-2024)
7.5.1.2 Forecast Trend (2025-2034)
7.5.2 Rooftop
7.5.2.1 Historical Trend (2018-2024)
7.5.2.2 Forecast Trend (2025-2034)
7.6 Indian Solar Electric System Market by States
7.6.1 Telangana
7.6.2 Tamil Nadu
7.6.3 Rajasthan
7.6.4 Andhra Pradesh
7.6.5 Gujarat
7.6.6 Karnataka
7.6.7 Others
8 Indian Solar Inverter Market Analysis
8.1 Key Industry Highlights
8.2 Indian Solar Inverter Historical Market (2018-2024)
8.3 Indian Solar Inverter Market Forecast (2025-2034)
8.4 Indian Solar Inverter Market by Inverter Type
8.4.1 Central Inverter
8.4.1.1 Historical Trend (2018-2024)
8.4.1.2 Forecast Trend (2025-2034)
8.4.2 String Inverter
8.4.2.1 Historical Trend (2018-2024)
8.4.2.2 Forecast Trend (2025-2034)
8.4.3 Others
8.5 Indian Solar Inverter Market by States
8.5.1 Telangana
8.5.2 Tamil Nadu
8.5.3 Rajasthan
8.5.4 Andhra Pradesh
8.5.5 Gujarat
8.5.6 Karnataka
8.5.7 Others
9 Regional Analysis
9.1 Telangana
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Tamil Nadu
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 Rajasthan
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
9.4 Andhra Pradesh
9.4.1 Historical Trend (2018-2024)
9.4.2 Forecast Trend (2025-2034)
9.5 Tamil Nadu
9.5.1 Historical Trend (2018-2024)
9.5.2 Forecast Trend (2025-2034)
9.6 Gujarat
9.6.1 Historical Trend (2018-2024)
9.6.2 Forecast Trend (2025-2034)
9.7 Karnataka
9.7.1 Historical Trend (2018-2024)
9.7.2 Forecast Trend (2025-2034)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
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 Supplier Selection
14.2 Key Global Players
14.3 Key Regional Players
14.4 Key Player Strategies
14.5 Company Profiles
14.5.1 Fimer S.p.A.
14.5.1.1 Company Overview
14.5.1.2 Product Portfolio
14.5.1.3 Demographic Reach and Achievements
14.5.1.4 Financial Summary
14.5.1.5 Certifications
14.5.2 Toshiba Mitsubishi-Electric Industrial Systems Corporation
14.5.2.1 Company Overview
14.5.2.2 Product Portfolio
14.5.2.3 Demographic Reach and Achievements
14.5.2.4 Financial Summary
14.5.2.5 Certifications
14.5.3 SMA Solar Technology AG
14.5.3.1 Company Overview
14.5.3.2 Product Portfolio
14.5.3.3 Demographic Reach and Achievements
14.5.3.4 Financial Summary
14.5.3.5 Certifications
14.5.4 Hitachi Hi-Rel Power Electronics Private Limited
14.5.4.1 Company Overview
14.5.4.2 Product Portfolio
14.5.4.3 Demographic Reach and Achievements
14.5.4.4 Financial Summary
14.5.4.5 Certifications
14.5.5 Others
14.6 Solar Panel Key Players
14.6.1 Vikram Solar Limited
14.6.1.1 Company Overview
14.6.1.2 Product Portfolio
14.6.1.3 Demographic Reach and Achievements
14.6.1.4 Financial Summary
14.6.1.5 Certifications
14.6.2 Waaree Energies Ltd.
14.6.2.1 Company Overview
14.6.2.2 Product Portfolio
14.6.2.3 Demographic Reach and Achievements
14.6.2.4 Financial Summary
14.6.2.5 Certifications
14.6.3 Adani Group
14.6.3.1 Company Overview
14.6.3.2 Product Portfolio
14.6.3.3 Demographic Reach and Achievements
14.6.3.4 Financial Summary
14.6.3.5 Certifications
14.6.4 Goldi Solar Pvt Ltd
14.6.4.1 Company Overview
14.6.4.2 Product Portfolio
14.6.4.3 Demographic Reach and Achievements
14.6.4.4 Financial Summary
14.6.4.5 Certifications
14.6.5 Tata Power Solar Systems Ltd
14.6.5.1 Company Overview
14.6.5.2 Product Portfolio
14.6.5.3 Demographic Reach and Achievements
14.6.5.4 Financial Summary
14.6.5.5 Certifications
14.6.6 Moser Baer Solar Limited
14.6.6.1 Company Overview
14.6.6.2 Product Portfolio
14.6.6.3 Demographic Reach and Achievements
14.6.6.4 Financial Summary
14.6.6.5 Certifications
14.6.7 XL Energy Ltd.
14.6.7.1 Company Overview
14.6.7.2 Product Portfolio
14.6.7.3 Demographic Reach and Achievements
14.6.7.4 Financial Summary
14.6.7.5 Certifications
14.6.8 Others
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security