India Solar Inverter Market Forecast Report 2020 – 2027 – Top Key Players Analysis
The latest market report published by GMI Research highlights key points of market growth and industry dynamics in the coming years. The report offers a country based analysis on the market size. It also provides in-depth information about the leading players and the different segments of the market.
Leading Players Covered in the India Solar Inverter Market are:
- ABB India Ltd.
- SMA Solar India Pvt. Ltd.
- Delta India Electronics Pvt. Ltd.
- Chint Electric India Pvt. Ltd.
- Schneider Electric India Pvt. Ltd.
- Hitachi Hi-Rel Power Electronics Pvt. Ltd.
- Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
- SuKam
- Microtek
- Luminous
Key Drivers of the India Solar Inverter Market:
The major factor surging the demand of the solar inverter market in India includes the growing emphasis of government on using renewable energy sources for power generation. Under the Paris Agreement in United Nations Framework Convention on Climate Change, India is one of the 194 countries which is focusing for 40% of the electricity production to be contributed by renewable energy sources by the end of 2030. Additionally, the government is aiming towards smart cities projects and is slowly investing in clean and free energy sources, thus boosting the demand for solar inverter over the forecast period. The increasing consumer awareness about the utilization of solar-based systems, especially among the residential, industrial, and commercial consumer base, will surge the growth of the India solar inverter market size. The solar inverter eliminates the increased cost of electricity bills and gives higher efficiency in the long run. The high initial installation cost, the regular need for sunlight, and the requirement of a large area for installation are the major factors that will negatively influence the strong demand of the market during the forecast period.
Market Segmentation:
The report will provide a detailed analysis of the India solar inverter market with respect to major segments such as the name of segments. It includes the qualitative and quantitative analysis of the market during the forecast period.
India Solar Inverter Market Segmentation by Technology:
- Central Inverters
- Micro-Inverters
- String Inverters
- Power Optimizers
India Solar Inverter Market Segmentation by End-Use:
- Industrial
- Residential
- Commercial
- Utility Inverters
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