India Solar Photovoltaic Panel Market (PV)

India Solar Photovoltaic Panel Market (PV) to grow at a CAGR of more than 18 % during a forecast.

India Solar Photovoltaic Market

India is a country with a majority of areas are exposed to sun rays and it has been absolutely favorable for renewable energy generation. Rising need of renewable energy and strong government support which drives the India solar photovoltaic panel market. Depleting oil reserves and hike in crude oil prices has resulted into high demand of renewable energy. India aims to install 175GW of renewables capacity by 2022 of which 100GW is outlined for solar power.

Environment concern of hydro power plant and rising risk of nuclear plant accident offers an opportunity to India solar photovoltaic panel market. Whereas high installation cost and subsidized electricity charges limits the adoption of solar photovoltaic panel adding restrain to the solar photovoltaic market in India.

India solar photovoltaic panel market is segmented by product, by technology and by end use. Based on panel type, India solar photovoltaic panel market is segmented into fixed tilt and axis tracker. Axis tracker segment is further sub-segmented into single axis and dual axis tracker. Crystalline silicone and thin film are technology segments of India solar photovoltaic panel market. Crystalline silicone is sub segmented into mono crystalline and polycrystalline. In terms of application, India solar photovoltaic panel market is fragmented into rooftop and utility scale.

Advanced crystalline silicone module technology has the XX% share in India solar photovoltaic panel market. Crystalline silicone offers increased cell efficiency. Price of crystalline silicon modules have sharply decreased. The efficiencies of these two technologies are rapidly increasing while the price gap rapidly is narrowing. Thin-film does not necessarily have competitive price advantage over crystalline. In very cold, sunny weather, Crystalline PV can produce the same energy per wp or slightly more than Thin Film.

Rooftop segment is growing at XX% CAGR. Growth in rooftop solar installations in India is majorly due to savings in electricity bills and increasing consumer acceptance. In 2018, more than 1GW rooftop photovoltaic projects were auctioned by various government bodies, due to a strong policy push by national and local governments.

Tracking systems adjust the position of PV modules to follow the sun can boost yields from solar installations by 40% or more. Fixed tilt panel is dominating the solar photovoltaic panel market in India but trackers are gaining ground in India. Developers are becoming increasingly aware of the enhanced CUFs (Capacity Utilisation Factor) that tracker implementation could bring about.

The objective of the report is to present a comprehensive analysis of the India Solar Photovoltaic Panel Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors in the market have been presented in the report.

External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding India Solar Photovoltaic Panel Market dynamics, structure by analyzing the market segments and project the India Solar Photovoltaic Panel Market size. Clear representation of competitive analysis of key players by End-User Industry, price, financial position, Product portfolio, growth strategies, and regional presence in the India Solar Photovoltaic Panel Market make the report investor’s guide.
Scope of the India Solar Photovoltaic Panel Market (PV)

India Solar Photovoltaic Market, by Technology Type:

• Thin film
• Crystalline Silicone
India Solar Photovoltaic (PV) Market, by Product Type:

• Fixed Tilt
• Axis Tracker
India Solar Photovoltaic (PV) Market, by End Use Type:

• Rooftop
• Utility Scale
Key Player Analysed in India Solar Photovoltaic Panel Market (PV):

• Sterling and Wilson Pvt Ltd
• Tata Power Company Ltd
• Vikram Solar Limited
• ABB
• First Solar Inc.
• Hanwha Q CELLS Co.
• SMA Solar Technology
• CME Solar
• Adani Group
• Azure Power Global Limited
• EMMVEE SOLAR
• Mahindra Susten Pvt Ltd
• Trina Solar Limited
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