As per a recent research, the India solar Inverter market is projected to grow at a CAGR of over 20.3% during 2019-2025.
Solar inverter 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. This 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 to overlay the rising power cost in the country. Government initiatives such as the Smart City project, development of solar parks and solar energy subsidy scheme would further accelerate the adoption of solar installations across the residential and commercial segments.
Moreover, among system type, on-grid systems dominated the India solar inverter market share in 2018 owing to huge adoption across different applications, whereas, off-grid systems are majorly limited to rural electrification applications only.
The report comprehensively covers the market by type, system type, power rating, applications and regions. The 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 device and align their market strategies according to the current and future market dynamics.
The “India Solar Inverter Market (2019-2025): Market Forecast by Power Rating, by Types, by Applications, by Regions and Competitive Landscape” report has been published on ResearchAndMarkets.com.
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