The India Solar Inverter Market is expected to reach US$ 1.63 billion by 2033 from US$ 682.86 Million in 2024, with a CAGR of 10.17% from 2025 to 2033. The market is being driven by the growing integration of solar inverters with energy storage devices, including batteries, which offer a dependable source of electricity during times when there is little to no sunlight.
India has seen a notable increase in the use of solar-powered electricity throughout the past ten years. The total amount consumed was around 0.02 EJ in 2012 and 0.64 EJ in 2021. This is attributable to the government's numerous efforts to raise national awareness of solar energy. It is expected that the greater awareness will encourage the installation of solar energy projects in India.
Additionally, the central inverter is a big grid feeder, and utility-scale solar projects control the solar energy industry in India. In solar PV systems, it is frequently utilized. They can be anything between 100kW to 100MW in size. The electric grid is intended to be directly connected to the central inverters. They are therefore a part of a power plant.
Additionally, the government of India has been quickly increasing the installed capacity base, particularly solar, with the goal of achieving 175 GW of non-fossil fuel capacity by 2022 and 500 GW by 2030.
India Solar Inverter Industry Overview
An essential part of a photovoltaic (PV) system is a solar inverter, which transforms the direct current (DC) electricity produced by solar panels into alternating current (AC) that can be supplied into the electrical grid and used to power items in the home. The inverter, which serves as a link between solar panels and the electrical grid, controls the voltage and frequency of the AC output while guaranteeing effective energy conversion. Solar inverters come in a variety of forms, each with unique benefits, such as power optimizers, microinverters, and string inverters. By improving energy production and enabling grid connectivity, the inverter is essential to maximizing the overall performance and dependability of solar power systems.India has seen a notable increase in the use of solar-powered electricity throughout the past ten years. The total amount consumed was around 0.02 EJ in 2012 and 0.64 EJ in 2021. This is attributable to the government's numerous efforts to raise national awareness of solar energy. It is expected that the greater awareness will encourage the installation of solar energy projects in India.
Additionally, the central inverter is a big grid feeder, and utility-scale solar projects control the solar energy industry in India. In solar PV systems, it is frequently utilized. They can be anything between 100kW to 100MW in size. The electric grid is intended to be directly connected to the central inverters. They are therefore a part of a power plant.
Additionally, the government of India has been quickly increasing the installed capacity base, particularly solar, with the goal of achieving 175 GW of non-fossil fuel capacity by 2022 and 500 GW by 2030.
Growth Drivers for the India Solar Inverter Market
Government Initiatives and Policy Support
The market for solar inverters is expanding due in large part to India's strong commitment to renewable energy. Achieving 100 GW of solar capacity is one of the lofty goals set by important programs like the National Solar Mission. Despite delays, the 2022 aim still affects the momentum of policy. In order to increase rooftop solar adoption in the commercial, industrial, and residential sectors, the government has also launched programs like the Grid-connected Rooftop and Small Solar Power Plants Programme. Financial incentives, subsidies, and advantageous net metering regulations support these programs, which promote increased investment in solar infrastructure. Because of this, the need for dependable and effective solar inverters is continuously increasing nationwide.Declining Costs of Solar Equipment
The affordability of solar power systems in India has greatly increased as a result of the steady decline in the cost of solar panels and inverters. The cost of equipment has significantly decreased in recent years due to economies of scale, improved production efficiency, and technical improvements. Due to this development, solar energy is now more widely available to home customers as well as major commercial and industrial users. More homes and companies are implementing solar solutions to save electricity costs and become energy independent as the initial capital expenditure becomes less of a barrier. The need for solar inverters is rising nationwide as a result of the falling costs, which also make solar installations a more alluring alternative to conventional energy sources.Technological Advancements
The development of solar inverter technology has been a major factor in the expansion of the Indian market. The total efficiency, dependability, and flexibility of solar power systems have been greatly increased by the use of cutting-edge inverter technology, such as hybrid inverters and energy storage-integrated systems. Especially useful in places with unstable grids, these contemporary inverters enable seamless integration with batteries, allowing energy storage for use during non-sunny hours or power outages. Furthermore, intelligent features like improved grid compatibility, remote diagnostics, and real-time monitoring are boosting system performance and user confidence. The need for technologically sophisticated inverters is growing as consumers and businesses look for more intelligent and robust energy solutions, making them an essential part of India's solar journey.Challenges in the India Solar Inverter Market
Skilled Workforce Shortage
There is a severe lack of qualified workers in India's renewable energy industry, which includes the market for solar inverters. There is a growing need for skilled technicians, engineers, and system designers due to the aggressive goals for solar capacity expansion. By 2027, more than 1.2 million more personnel are expected to be needed to service the expanding sustainable energy infrastructure. But this need has outpaced the present workforce development. As a result, a shortage of trained staff frequently causes project implementation to be delayed, which raises operating expenses and may result in quality problems. Maintaining the sector's growth and guaranteeing high-performance solar systems need closing this skills gap through focused training initiatives and collaborations with academic institutions.Supply Chain Constraints
Due to a lack of domestic manufacturing capability and a strong reliance on imported components, particularly from nations like China, the solar inverter market in India faces serious supply chain issues. This reliance frequently leads to longer lead times, procurement delays, and higher susceptibility to geopolitical unrest or changes in world prices. The overall cost and difficulty of implementing solar projects are further increased by customs fees, shipping delays, and logistical obstacles. These problems put a pressure on project budgets and timetables, especially for small and medium-sized developers. To lessen reliance on imports and create a more robust and affordable solar ecosystem in India, it is imperative to boost domestic manufacturing through supply chain infrastructure investment, governmental support, and incentives.North India Solar Inverter Market
Large-scale solar power projects in areas like Rajasthan, Punjab, and Uttar Pradesh are propelling the market for solar inverters in North India. The need for solar inverters is rising due to significant initiatives like the Mansa Solar Power Plant, Pokran-Phalodi Solar Park, and Bhadla Solar Park. Throughout the forecast period, the region is expected to continue to hold a leading position in India's solar inverter market revenues. The efficiency and dependability of the system are being improved by technological developments, such as the use of smart and hybrid inverters. Investments in solar installations are also being encouraged by government programs and policy assistance, including as net metering and subsidies. Together, these elements support the market for solar inverters in North India's strong expansion.South India Solar Inverter Market
The market for solar inverters in South India is expanding rapidly due to the country's ideal climate, growing electricity prices, and encouraging government regulations. The leading states in this expansion are Karnataka, Tamil Nadu, Andhra Pradesh, and Kerala. With more than 7 GW of installed solar capacity, Karnataka is in the lead thanks to programs like the Pavagada Solar Park and the Arunodaya Programme. With over 8 GW deployed and ambitions to build 9,000 MW by 2030, Tamil Nadu is right behind. Demand for solar inverters is being driven by these advancements, especially for hybrid and smart inverters, which provide improved efficiency and grid compatibility. Furthermore, the area is a desirable market for both residential and commercial solar systems due to its high solar irradiation and government incentives.West India Solar Inverter Market
Western Large-scale solar capacity projects in areas like Rajasthan, Gujarat, and Maharashtra are propelling the West India solar inverter market's notable expansion. With roughly 18 GW of installed solar capacity as of late 2023, Rajasthan is in the lead and accounts for around 25% of India's total solar power generation. With 14.7 GW, Gujarat is just behind and has big plans to increase its solar capacity even more. With a 4.87 GW capacity, Maharashtra is also advancing significantly in the use of solar energy. Demand for solar inverters is rising as a result of these advancements, especially in the residential and commercial markets. For example, Gujarat has become a leader in rooftop solar installations and has made a substantial contribution to India's total rooftop solar capacity. The use of solar energy solutions is being further accelerated by the region's advantageous legislation, plentiful sunshine, and rising electricity bills. The Business Line for Hindus. To sum up, the market for solar inverters in West India is expected to grow further due to strong solar infrastructure, encouraging government policies, and a move toward sustainable energy sources.India Solar Inverter Segments
Inverter Type - Market breakup in 7 viewpoints:
- Central Inverters
- String Inverters
- Micro Inverters
Application - Market breakup in 3 viewpoints:
- Residential
- Commercial & Industrial (C&I)
- Utility Scale
Region - Market breakup in 4 viewpoints:
- East India
- West India
- North India
- South India
The key players have been analyzed by:
- Overview
- Key Persons
- Business Strategy
- Financial Insight
Key Players Analyzed:
- Schneider Electric SE
- Siemens AG
- Mitsubishi Electric Corporation
- ABB Ltd
- SMA
- Delta Electronics, Inc.
- Fronius International GmbH
- SUNGROW
Table of Contents
1. Introduction3. Executive Summary
2. Research & Methodology
4. Market Dynamics
5. India Solar Inverter Market
6. Market Share Analysis
7. Inverter Type
8. Application
9. Region
10. Porter’s Five Analysis
11. SWOT Analysis
12. Company Analysis
Companies Mentioned
- Schneider Electric SE
- Siemens AG
- Mitsubishi Electric Corporation
- ABB Ltd
- SMA
- Delta Electronics, Inc.
- Fronius International GmbH
- SUNGROW
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | May 2025 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 682.86 Million |
| Forecasted Market Value ( USD | $ 1630 Million |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | India |
| No. of Companies Mentioned | 8 |
