Solar Power Market In India to Grow by USD 240.42 billion | Increasing Investments in Renewable Energy to Drive Growth | Technavio

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NEW YORK, March 4, 2022 /PRNewswire/ — The solar power market in India will be driven by increasing investments in renewable energy. The market is likely to grow by USD 240.42 bn from 2021 to 2026.

Technavio has announced its latest market research report titled Solar Power Market in India by End-user and Application - Forecast and Analysis 2022-2026

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Solar Power Market in India 2022-2026: Scope

The solar power market in India report covers the following areas:

  • Solar Power Market in India Size
  • Solar Power Market in India Trends
  • Solar Power Market in India Industry Analysis

Frequently Asked Questions:

  • Based on segmentation by end-user, which is the leading segment in the market?

    Based on segmentation by end-user, the utility segment will have significant market share growth during the forecast period. 
  • What are the major trends in the market? 

    The declining costs of solar energy sources is one of the major trends in the market.
  • At what rate is the projected CAGR of the market?

    The market is projected to have a decelerating CAGR of 35.24% during the forecast period. 
  • What is the year-over-year growth rate of the market in 2022?

    The year-over-year growth rate of the market in 2022 is 37.31%.

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Solar Power Market in India 2022-2026: Vendor Analysis

The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. Although the increasing investments in renewable energy will offer immense growth opportunities, the presence of other energy sources is likely to pose a challenge for the market vendors.

ABB Ltd., ACME Solar, Adani Enterprises Ltd., Azure Power, Canadian Solar Inc., GCL System Integration Technology Co. Ltd., Huawei Investment and Holding Co. Ltd., JA Solar Technology Co. Ltd., juwi AG, and Sterling and Wilson Solar Ltd. are some of the major market participants. The key offerings of some of these vendors are listed below:

  • ABB Ltd. – The company offers solar power services that provide electrical power, which includes energy production, power transmission, transportation, process automation, and pollution control, under the brand name of ABB Ltd.
  • ACME Solar – The company offers solar power services that provide innovative green energy, energy management solutions which include solar water heating, water heating systems, solar heating, solar ventilation, solar lighting, portable solar, solar transportation, under the brand name of ACME Solar.
  • Adani Enterprises Ltd. – The company offers solar power services that include solar electricity, solar water heating, solar heating, solar ventilation, solar lighting, portable solar, solar transportation, and many more, under the brand name of Adani Enterprises Ltd.

Solar Power Market in India 2022-2026: Segmentation

  • End-user
    • Utility
    • Rooftop
  • Application
    • Grid-connected
    • Off-grid

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Solar Power Market in India 2022-2026: Key Highlights

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will assist solar power market growth in India during the next five years
  • Estimation of the solar power market size in India and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the solar power market in India 
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of solar power market vendors in India

Related Reports:

Renewable Energy Market by Type and Geography – Forecast and Analysis 2022-2026

Solar Power Market by Technology and Application – Forecast and Analysis 2022-2026

Solar Power Market In India Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 35.24%

Market growth 2022-2026

USD 240.42 billion

Market structure

Fragmented

YoY growth (%)

37.31

Regional analysis

India

Performing market contribution

India at 100%

Key consumer countries

India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., ACME Solar, Adani Enterprises Ltd., Azure Power, Canadian Solar Inc., GCL System Integration Technology Co. Ltd., Huawei Investment and Holding Co. Ltd., JA Solar Technology Co. Ltd., juwi AG, and Sterling and Wilson Solar Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2021
  • Market outlook: Forecast for 2021 – 2026

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Grid-connected – Market size and forecast 2021-2026
  • Off-grid – Market size and forecast 2021-2026
  • Market opportunity by Application

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Utility – Market size and forecast 2021-2026
  • Rooftop – Market size and forecast 2021-2026
  • Market opportunity by End-user

Customer landscape

  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ABB Ltd.
  • ACME Solar
  • Adani Enterprises Ltd.
  • Azure Power
  • Canadian Solar Inc.
  • GCL System Integration Technology Co. Ltd.
  • Huawei Investment and Holding Co. Ltd.
  • JA Solar Technology Co. Ltd.
  • juwi AG
  • Sterling and Wilson Solar Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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