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India Solar Energy Market: Current Analysis and Forecast (2021-2027)

Region:Global

Product Code:UMEP21497

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Published On

October 2021

Total pages

263

About the Report

The Indian Solar energy scenario has witnessed a visible growth in the last few years. Decentralized and distributed applications of Solar energy have befitted millions of people in Indian Villages by meeting their lighting, cooking and other energy needs in an environmentally friendly manner. Social and economic benefits of solar energy include the reduction in drudgery among rural women and girls originally engaged in the collection of fuel wood by a time-consuming process and had to cook in smoky kitchens. This has reduced the risks of contracting lung and eye ailments, employment generation in the village and ultimately improving the standard of living and creation of opportunity for economic activities at village level. According to the assessment by the National Institute of Solar Energy, the country has the solar potential of about 748 GW if 3% of the waste land area can be covered by Solar PV modules. Solar energy has become the central most important project in the National Action Plan on Climate Change with National Solar Mission as one of the key missions.

The National Solar Mission (NSM) was launched on the 11th of January 2010. NSM is the major initiative of the Government of India with active participation from States to promote ecological sustainable growth while also addressing energy security challenges of India. The Mission targets to installing 100 GW of grid-connected solar power plants by 2022.

Based on Type, the Industrial Power Supply market is segmented into Photovoltaic systems and Concentrated solar power systems. Concentrated solar power systems are further sub segmented into Parabolic trough, Solar power tower, Fresnel reflectors, and Dish Stirling. Amongst Type, the Concentrated solar power systems segment of the market was valued at USD XX million in 2020 and is likely to reach USD XX million by 2027 growing at a CAGR of XX% from 2021-2027.

Based on Solar Module, the India Solar Energy Market is segmented into Monocrystalline, Polycrystalline, Cadmium telluride, Amorphous silicon cells, and Others. Amongst Solar Module, Polycrystalline segment accounted for a market valuation of USD XX million in 2020 and is expected to reach USD XX million by the year 2027, at a CAGR of XX% over the analysed period.

Based on Application, the India Solar Energy market is segmented into Residential, Commercial and Industrial. Amongst application, the Residential segment of the market was valued at USD XX million in 2020 and is likely to reach USD XX million by 2027 growing at a CAGR of XX% from 2021-2027.

Based on End-Use, the India Solar Energy market is segmented into Electricity Generation, Lighting, Heating, and Charging. Amongst End-Use, the Lighting segment of the market was valued at USD XX million in 2020 and is likely to reach USD XX million by 2027 growing at a CAGR of XX% from 2021-2027.

For a better understanding of the market adoption of India Solar Energy Industry, the market is analysed based on its presence in regions of India including East India, West India, North India, and South India. South India will dominate the India Solar Energy market on account of increasing urbanization.

Some of the major players operating in the market include Adani Group, Emmvee Solar, Mahindra Susten Pvt. Ltd, Sterling and Wilson Pvt. Ltd, Tata Power Solar Systems Ltd, Vikram Solar Limited, ReNew Power Pvt. Ltd, NTPC Ltd, and Azure Power Global Ltd. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

India Solar Energy Market was valued at USD XX million in 2020 and is projected to expand significantly with a CAGR of XX% from 2021-2027F to USD XX million in 2027. The India Solar Energy Market is expected to witness a boost on account of its high adoption in the South India region.

Scope of the Report

Products

The Indian Solar energy scenario has witnessed a visible growth in the last few years.

Companies

Adani Group, Emmvee Solar, Mahindra Susten Pvt. Ltd, Sterling and Wilson Pvt. Ltd, Tata Power Solar Systems Ltd, Vikram Solar Limited, ReNew Power Pvt. Ltd, NTPC Ltd, and Azure Power Global Ltd.

Table of Contents

1 MARKET INTRODUCTION

1.1 Market Definitions

1.2 Objective of the Study

1.3 Limitation

1.4 Stake Holders

1.5 Currency Used in Report

1.6 Scope of the India Solar Energy Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1 Research Methodology for the India Solar Energy Market

2.1.2 Main Objective of the India Solar Energy Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 INDIA SOLAR ENERGY MARKET REVENUE (USD Mn), 2021-2027F

6 COVID-19 IMPACT

7 MARKET INSIGHTS BY TECHNOLOGY

7.1 Photovoltaic systems

7.2 Concentrated solar power systems

7.2.1 Parabolic trough

7.2.2 Solar power tower

7.2.3 Fresnel reflectors

7.2.4 Dish Stirling

8 MARKET INSIGHTS BY SOLAR MODULE

8.1 Monocrystalline

8.2 Polycrystalline

8.3 Cadmium telluride

8.4 Amorphous silicon cells

8.5 Others

9 MARKET INSIGHTS BY APPLICATION

9.1 Residential

9.2 Commercial

9.3 Industrial

10 MARKET INSIGHTS BY END-USE

10.1 Electricity generation

10.2 Lighting

10.3 Heating

10.4 Charging

11 MARKET INSIGHTS BY REGION

11.1 East India Solar Energy Market

11.2 West India Solar Energy Market

11.3 North India Solar Energy Market

11.4 South India Solar Energy Market

12 INDIA SOLAR ENERGY MARKET DYNAMICS

12.1 Market Drivers

12.2 Market Challenges

12.3 Impact Analysis

13 INDIA SOLAR ENERGY MARKET OPPORTUNITIES

14 INDIA SOLAR ENERGY MARKET TRENDS

15 LEGAL AND REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

16 16.1 Demand Side Analysis

16.2 Supply Side Analysis

16.2.1 Top Product Launches

16.2.2 Top Business Partnerships

16.2.3 Top Business Expansions, Investments and Divestitures

16.2.4 Top Merger and Acquisitions

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

19 COMPANY PROFILED

19.1 Adani Group

19.2 Emmvee Solar

19.3 Mahindra Susten Pvt Ltd

19.4 Sterling and Wilson Pvt Ltd

19.5 Tata Power Solar Systems Ltd

19.6 Vikram Solar Limited

19.7 ReNew Power Pvt Ltd

19.8 NTPC Ltd

19.9 Azure Power Global Ltd

20 DISCLAIMER

Research Methodology

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