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PUBLISHER: Grand View Research | PRODUCT CODE: 1511883
PUBLISHER: Grand View Research | PRODUCT CODE: 1511883
India Solar PV Panels Market Size, Share & Trends Analysis Report By Technology (Thin Film, Crystalline Silicon), By Grid (On Grid, Off Grid), By Application (Residential, Commercial, Industrial), And Segment Forecasts, 2024 - 2030
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PAGES: 70 Pages
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India Solar PV Panels Market Growth & Trends:
The India solar PV panels market size is anticipated to reach USD 13.69 billion by 2030 and is anticipated to expand at a CAGR of 9.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Key drivers of the solar market are the cost competitiveness of solar PV compared to grid power, the acceptance of solar energy by governments and large consumers, the potential for significant cost savings through reduced electricity expenses, the availability of tax benefits such as accelerated tax depreciation and income tax exemptions for solar projects, and the emphasis on environmental sustainability through initiatives such as the Companies Act and Corporate Social Responsibility (CSR) goals.
In India, the decreasing cost of solar photovoltaic (PV) technology has made solar energy increasingly competitive with grid power. Technological advancements, economies of scale, and government incentives such as subsidies and tax benefits drive this cost reduction. The Indian government has firmly committed to promoting solar energy through various policies and initiatives. The National Solar Mission aims to increase solar capacity, and state governments offer incentives such as net metering and open access for solar projects. For instance, in June 2021, SolarSquare acquired PV Diagnostics to enhance residential solar standards. This acquisition aims to improve solar energy efficiency and performance through advanced diagnostics technology.
India Solar PV Panels Market Report Highlights:
- Thin films dominated the market in 2023.It is due to their cost-effectiveness, flexibility, and efficiency, supported by advancements in solar energy technologies and the dropping prices of thin-film solar technology. Crystalline silicon is expected to grow at the fastest CAGR during the forecast period
- On Grid held the largest share in 2023, due to the reliability and stability of grid-connected systems, the ability to feed excess power back to the grid for credits or revenue, and the support from government policies such as net metering and incentives for grid-connected solar installation. Off Grid is expected to grow at the fastest CAGR
- Industrial segment accounted for the largest share in 2023. The dominance is attributed to the rising acceptance of solar power by large consumers for cost savings and environmental sustainability, supported by tax benefits such as accelerated tax depreciation and income tax exemptions for solar projects
- In September 2023 Gautam Solar, a top Indian solar module manufacturer, secured a patent for an innovative "Tool for Bussing Process of Solar Panel," enhancing panel production yield and reducing manual work by over 50% while doubling production capacity
Product Code: GVR-4-68040-307-2
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. India Solar PV Panels Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Distribution Channel Analysis
- 3.2.2. Raw Material Trends
- 3.2.3. Technological Overview
- 3.3. Regulatory Framework
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.2. Market Restraint Analysis
- 3.4.3. Industry Challenges
- 3.4.4. Industry Opportunities
- 3.5. Industry Analysis Tools
- 3.5.1. Porter's Five Forces Analysis
- 3.5.2. Macro-environmental Analysis
Chapter 4. India Solar PV Panels Market: Technology Estimates & Trend Analysis
- 4.1. Technology Movement Analysis & Market Share, 2023 & 2030
- 4.2. India Solar PV Panels Market Estimates & Forecast, By Technology, 2018 to 2030 (USD Billion)
- 4.3. Thin Film
- 4.3.1. Thin Film Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4. Crystalline Silicon
- 4.4.1. Crystalline Silicon Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.5. Other Technology
- 4.5.1. Other Technology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. India Solar PV Panels Market: Grid Estimates & Trend Analysis
- 5.1. Grid Movement Analysis & Market Share, 2023 & 2030
- 5.2. India Solar PV Panels Market Estimates & Forecast, By Grid, 2018 to 2030 (USD Billion)
- 5.3. On Grid
- 5.3.1. On Grid Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4. Off Grid
- 5.4.1. Off Grid Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. India Solar PV Panels Market: Application Estimates & Trend Analysis
- 6.1. Application Movement Analysis & Market Share, 2023 & 2030
- 6.2. India Solar PV Panels Market Estimates & Forecast, By Application, 2018 to 2030 (USD Billion)
- 6.3. Residential
- 6.3.1. Residential Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4. Industrial
- 6.4.1. Industrial Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.5. Commercial
- 6.5.1. Commercial Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. India Solar PV Panels Market - Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Heat Map/Position Analysis, 2023
- 7.4. Strategy Mapping
- 7.4.1. Expansion
- 7.4.2. Mergers & Acquisition
- 7.4.3. Partnerships & Collaborations
- 7.4.4. New Product Launches
- 7.4.5. Research And Development
- 7.5. Company Profiles
- 7.5.1. Tata Power Solar Systems Ltd.
- 7.5.1.1. Participant's overview
- 7.5.1.2. Financial performance
- 7.5.1.3. Product benchmarking
- 7.5.1.4. Recent developments
- 7.5.2. Adani Group
- 7.5.2.1. Participant's overview
- 7.5.2.2. Financial performance
- 7.5.2.3. Product benchmarking
- 7.5.2.4. Recent developments
- 7.5.3. VIKRAM SOLAR LTD.
- 7.5.3.1. Participant's overview
- 7.5.3.2. Financial performance
- 7.5.3.3. Product benchmarking
- 7.5.3.4. Recent developments
- 7.5.4. Waaree Energies Ltd.,
- 7.5.4.1. Participant's overview
- 7.5.4.2. Financial performance
- 7.5.4.3. Product benchmarking
- 7.5.4.4. Recent developments
- 7.5.5. Saatvik Green Energy Pvt Ltd.,
- 7.5.5.1. Participant's overview
- 7.5.5.2. Financial performance
- 7.5.5.3. Product benchmarking
- 7.5.5.4. Recent developments
- 7.5.6. RenewSys India Pvt. Ltd.
- 7.5.6.1. Participant's overview
- 7.5.6.2. Financial performance
- 7.5.6.3. Product benchmarking
- 7.5.6.4. Recent developments
- 7.5.7. LOOM SOLAR PVT. LTD.,
- 7.5.7.1. Participant's overview
- 7.5.7.2. Financial performance
- 7.5.7.3. Product benchmarking
- 7.5.7.4. Recent developments
- 7.5.8. Goldi Solar, Inc.
- 7.5.8.1. Participant's overview
- 7.5.8.2. Financial performance
- 7.5.8.3. Product benchmarking
- 7.5.8.4. Recent developments
- 7.5.9. Servotech Power Systems
- 7.5.9.1. Participant's overview
- 7.5.9.2. Financial performance
- 7.5.9.3. Product benchmarking
- 7.5.9.4. Recent developments
- 7.5.10. Bluebird Solar
- 7.5.10.1. Participant's overview
- 7.5.10.2. Financial performance
- 7.5.10.3. Product benchmarking
- 7.5.10.4. Recent developments
- 7.5.11. SWELECT Energy systems Ltd
- 7.5.11.1. Participant's overview
- 7.5.11.2. Financial performance
- 7.5.11.3. Product benchmarking
- 7.5.11.4. Recent developments
- 7.5.12. Panasonic Solar
- 7.5.12.1. Participant's overview
- 7.5.12.2. Financial performance
- 7.5.12.3. Product benchmarking
- 7.5.12.4. Recent developments
- 7.5.13. JA SOLAR Technology Co., Ltd.
- 7.5.13.1. Participant's overview
- 7.5.13.2. Financial performance
- 7.5.13.3. Product benchmarking
- 7.5.13.4. Recent developments
- 7.5.14. Microtek Solar Solutions
- 7.5.14.1. Participant's overview
- 7.5.14.2. Financial performance
- 7.5.14.3. Product benchmarking
- 7.5.14.4. Recent developments
- 7.5.15. Luminous India
- 7.5.15.1. Participant's overview
- 7.5.15.2. Financial performance
- 7.5.15.3. Product benchmarking
- 7.5.15.4. Recent developments
- 7.5.1. Tata Power Solar Systems Ltd.
Product Code: GVR-4-68040-307-2
List of Tables
- Table 1 List of abbreviation
- Table 2 India solar PV panels market 2018 - 2030 (USD Billion)
- Table 3 India solar PV panels market estimates and forecasts by technology, 2018 - 2030 (USD Billion)
- Table 4 India solar PV panels market estimates and forecasts by grid 2018 - 2030 (USD Billion)
- Table 5 India solar PV panels market estimates and forecasts by application 2018 - 2030 (USD Billion)
List of Figures
- Fig. 1 Market Research Process
- Fig. 2 Data Triangulation Techniques
- Fig. 3 Primary Research Pattern
- Fig. 4 Market Research Approaches
- Fig. 5 QFD Modeling for Market Share Assessment
- Fig. 6 Information Procurement
- Fig. 7 Market Formulation and Validation
- Fig. 8 Data Validating & Publishing
- Fig. 9 Market Segmentation & Scope
- Fig. 10 India Solar PV Panels Market Snapshot
- Fig. 11 Segment Snapshot (1/2)
- Fig. 12 Segment Snapshot (1/2)
- Fig. 13 Competitive Landscape Snapshot
- Fig. 14 Parent market outlook
- Fig. 15 India Solar PV Panels Market Value, 2023 (USD Billion)
- Fig. 16 India Solar PV Panels Market - Value Chain Analysis
- Fig. 17 India Solar PV Panels Market - Price Trend Analysis 2018 - 2030 (USD/Kg)
- Fig. 18 India Solar PV Panels Market - Market Dynamics
- Fig. 19 India Solar PV Panels Market - PORTER's Analysis
- Fig. 20 India Solar PV Panels Market - PESTEL Analysis
- Fig. 21 India Solar PV Panels Market Estimates & Forecasts, By Technology: Key Takeaways
- Fig. 22 India Solar PV Panels Market Share, By Technology, 2022 & 2030
- Fig. 23 Thin Films Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 24 Crystalline Silicon Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 25 Other Technology Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 26 India Solar PV Panels Market Estimates & Forecasts, By Grid: Key Takeaways
- Fig. 27 India Solar PV Panels Market Share, By Grid, 2023 & 2030
- Fig. 28 India Solar PV Panels Market Estimates & Forecasts, in On Grid, 2018 - 2030 (USD Billion)
- Fig. 29 India Solar PV Panels Market Estimates & Forecasts, Off Grid, 2018 - 2030 (USD Billion)
- Fig. 30 India Solar PV Panels Market Estimates & Forecasts, By Application: Key Takeaways
- Fig. 31 India Solar PV Panels Market Share, By Application, 2022 & 2030
- Fig. 32 Residential Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 33 Industrial Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 34 Commercial Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 35 Key Company Categorization
- Fig. 36 Company Market Positioning
- Fig. 37 Strategy Mapping
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