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Future Growth of India Solar Inverter Market to be Led by Rising Power Deficit, Increasing Competition, Rising Consumer Awareness and Increased Energy Efficiency:Ken Research
In FY’2015, the market for residential solar rooftop inverters has been dominated by on gird rooftop solar inverters, which accounted for ~% of the
In FY’2015, the market for residential solar rooftop inverters has been dominated by on gird rooftop solar inverters, which accounted for ~% of the overall residential solar inverter market. On the contrary, in FY’2015 the contribution by off grid solar inverter at residential levels has been noted as ~% amounting to INR ~million in terms of overall residential solar inverter market revenues. In FY’2015, ~% of the residential rooftop solar inverter revenues has been generated from rural areas installation. The major reason of dominant proportionate contribution by rural areas has been mainly due to low power cuts, widening demand and supply gap of electricity and failure of government to provide adequate supply of electricity to the households. Furthermore, In FY’2015, imports accounted for ~% of the overall residential rooftop solar inverter market revenues.
Su-kam has been the market leader with a share of ~% in terms of revenue in India residential solar inverters market in FY’2015. Bonfiglioli accounted for ~% of the overall residential rooftop solar inverter market revenues in FY’2015. Luminous accounted for ~% share of the overall residential solar inverter market revenues during FY’2015. Other players in the market including Power One, Uniline Energy Systems and others along with unorganized market segment contributed for a market share of ~% in FY’2015.
The market for residential solar inverter in India has been expanding swiftly due to rising population, increasing energy deficits and increasing income levels of consumers. Owing to increasing number of players in the market, rising financial support from government in the form of subsidies, increasing programmes to create awareness about solar energy, the market for solar inverters in India’s residential sector is projected to incline at a CAGR of ~% during FY’2016-FY’2020. The majority of revenues in future would be derived from on grid inverters that enable the electricity generated through PV panels and stored in solar inverters to be fed into the main power grid.
“According to Research Analyst at Ken Research, The majority of revenues in future would be derived from on grid inverters that enable the electricity generated through PV panels and stored in solar inverters to be fed into the main power grid.”
The recent research report on “India Solar Inverter Market Outlook to FY’2020- Continuous Government Support and Advent of Micro Solar Inverter to Foster Future Growth” by Ken Research covers market size of India solar inverter market, segmentation on the basis of type of solar inverter, by capacity, by Organized and Unorganized, by manufacturing regions, imports and indigenous solar inverters, by end users and others. The report will aid industry consultants, solar inverter manufacturing companies, inverter component manufacturers, importers, exporters, distributors and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future. The report also provides the pre-requisites for players who actively seeking to enter in the market.
