India Solar Inverter Market to Reach ~USD 4.0 Billion by 2033, Driven by Hybrid Systems, Rooftop Adoption, and Smart Grid-Forming Inverters

Phoenix Research Forecasts 11.0% CAGR as South India Leads Adoption and Western India Emerges as Fastest-Growing Region in India Solar Inverter Market

–December 4th, 2025 – Phoenix Research has released its latest industry assessment titled “India Solar Inverter Market Size & Share Analysis Press Release 2025–2033.” The report reveals that the India Solar Inverter Market, valued at USD 1.6 billion in 2025, is projected to grow to approximately USD 4.0 billion by 2033, registering a CAGR of ~11.0% during the forecast period.

“As solar capacity expands rapidly across utility, C&I, and rooftop segments, the need for high-efficiency, smart, and hybrid inverters is accelerating,” said Rachna Patni, Principal Analyst at Phoenix Research. “Battery-paired, grid-forming, and bidirectional inverters are critical to integrating distributed generation, EV charging, and storage into India’s evolving grid.”

India Solar Inverter Market Highlights

Large-Scale Solar Pipeline & Auction Wins:

Utility-scale solar projects demand central and string inverters capable of handling multi-MW power blocks.

Rooftop & Distributed Energy Growth:

Residential and commercial rooftop schemes, net-metering reforms, and corporate PPAs are expanding string and microinverter adoption.

Storage Pairing & Hybrid Systems:

Behind-the-meter BESS and hybrid PV+storage projects increase demand for bidirectional, hybrid, and grid-support inverters.

Grid Code & Ancillary Service Requirements:

Frequency response, reactive power control, fault-ride-through, and grid-forming capabilities favor smart inverters.

Localization & Make-in-India Policies:

Domestic manufacturing incentives and local content rules promote localized inverter production and support global suppliers setting up plants.

Digitalization & O&M Optimization:

Remote monitoring, predictive maintenance, and cybersecurity features enhance operational efficiency and recurring service revenues.

Regional Insights 

South India — Largest Market:

High solar capacity additions, rooftop adoption, and supportive policies in Karnataka, Tamil Nadu, and Telangana.

Western India — Fastest Growing:

Driven by Rajasthan, Gujarat, and Maharashtra through mega solar parks, C&I demand, and aggressive renewable procurement pipelines.

Northern Plains (UP/Haryana):

potential incentivized by agricultural/commercial schemes.

Manufacturing Clusters:

Gujarat, Tamil Nadu, and Karnataka are focal points for inverter localization and Make-in-India initiatives.

Competitive Landscape 

Sungrow, Huawei, SMA, ABB (Fimer), Schneider Electric, Delta Electronics, TMEIC, Ingeteam, Siemens Gamesa, Luminous (Havells), TATA Power Solar, Vikram Solar, Sukam/Amaron, Microtek, Growatt

Huawei is the largest company in the India Solar Inverter Market.

Final Takeaway of India Solar Inverter Market

The India Solar Inverter Market is central to the country’s energy transition. Growth will be driven by high-efficiency SiC/GaN inverters, certified grid services, hybrid PV+BESS adoption, rooftop retrofits, and strong O&M/cloud platforms. Suppliers with local manufacturing, grid-compliant designs, and integrated service offerings will capture maximum value. State policies, storage incentives, and Make-in-India programs will define winners through 2033.

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India Solar Inverter Market size and share Analysis 2025-2033