India Solar Energy Market By Type (Concentrated Solar Power Systems, Parabolic Trough, Solar Power Tower, Fresnel Reflectors, Dish Stirling and Photovoltaic Systems), By Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells and Others) , By Application (Residential, Commercial and Industrial), By End-Use (Electricity generation, Lighting, Heating and Charging), By Distribution Channel (Third party distributor, Direct tenders and Others), By Region (Northern, Southern, Western and Eastern)-Trends Analysis and Forecast till 2027

India Solar Energy Market Definition:
The radiant energy emitted from the Sun is solar energy, which is convert into electric energy by using various technologies such as photovoltaic cells, solar heating and others. it's associate economical sort of unconventional energy and a convenient renewable solution toward growing greenhouse emissions and heating.

India Solar Energy Market Outlook:
India solar energy market is anticipated to grow at a rapid growth rate during the forecast period. The fourth most attractive clean energy market in the world is the Indian renewable energy industry. India is ranked among top 5 in solar power and also in installed capacity for renewable energy since 2018. The sector has become attractive from the point of view of investors with increased policy funding and improved economics.

According to Pheonix Research, the India Solar Energy Market is forecasted to grow at a healthy CAGR of 21.3% during 2020-27. The major factor propelling the market is the reducing cost of the solar module. Furthermore, the sharp decline in prices of solar technologies in the recent years by about 52% between 2010 and 2015 (in kWh terms) has been one of the biggest drivers in the adoption of solar PV in the country. However, the cost of modules produced in China is 8-10% cheaper than the one manufactured in India and solar modules mostly used in India are manufactured in China. Therefore, the huge dependency on imports has affected domestic manufacturing in the country, which is further expected to delay the growth of the market

Geographically, India has ample capacity of solar irradiance and receives solar energy throughout the year. The ambition of India in ensuring energy security will play a crucial role in the nation's energy mix in considering renewable sources including solar, wind, biomass, and small hydro. Solar is known as one of the main renewable energy sources to offset and reduce India's carbon footprint. This has created huge opportunities to exploit solar energy from the sunniest sites in the country, especially, Rajasthan, Gujarat and Andhra Pradesh among others. The solar rooftop capacity has increased hyperbolically from 337 MW in 2015 to 2368 MW in 2019. Karnataka ranked the first in terms of total solar capacity addition (both ground mount and rooftop), followed by Telangana, Rajasthan, Andhra Pradesh, Tamil Nadu, Gujarat, Madhya Pradesh, Maharashtra, Uttar Pradesh, and Punjab. Gujarat is the leading state in solar rooftop capacity addition in India in 2019 with a total of 261.97 MW of solar rooftop systems installations

India Solar Energy Market Dynamics:
DRIVERS
 •   Introduction of innovative technology
 •   Government initiative and policy
 •   Cost effective solar product availability
 •   High demand from rural areas

Restraints
 •   Lack of infrastructure and high cost of installation
 •   Certain limitation will restrain the market

India Solar Energy Market Segmentation:
  • Concentrated Solar Power Systems
  • Photovoltaic Systems
  • Parabolic Trough
  • Solar Power Tower
  • Fresnel Reflectors
  • Dish Stirling
  • Others

By Module
  • Monocrystalline
  • Polycrystalline
  • Cadmium Telluride
  • Amorphous Silicon Cells
  • Others

By Application
  • Residential
  • Commercial
  • Industrial

By End-Use
  • Electricity generation
  • Lighting
  • Heating
  • Charging

By Distribution Channel
  • Third party distributor
  • Direct tenders
  • Others

By Region
  • Northern
  • Southern
  • Western
  • Eastern

Key Developments in the Market:
 •   In April 2020, Vikram Solar bagged the National Thermal Power Corporation Ltd. (NTSP) 300 Megawatt (mw) solar power plant project in a reverse auction, in the form of a CPSU-II auction, for Rs 1750 crore (USD 250,39 million).
 •   In 2019 India opened its Bhadla Solar Park in Rajasthan, its solar power plant with a capacity of 2.255 MW, which is to be the largest in the world.

Competitive Analysis: India Solar Energy Market:
The India Solar Energy Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of the India solar energy market for Northern, western, southern and eastern regions.

Key Market Competitors: India Solar Energy Market:
Players operating in the India Solar Energy market includes
 •   ACME SOLAR
 •   ADANI GROUP
 •   TRINA SOLAR LIMITED
 •   SMA SOLAR TECHNOLOGY AG
 •   HANWHA Q CELLS CO. LTD
 •   FIRST SOLAR INC.
 •   JINKOSOLAR HOLDINGS CO. LTD
 •   VIKRAM SOLAR LIMITED
 •   TATA POWER SOLAR SYSTEMS LTD
 •   STERLING AND WILSON PVT. LTD
 •   MAHINDRA SUSTEN PVT. LTD
 •   EMMVEE SOLAR
 •   AZURE POWER GLOBAL LIMITED
 •   OTHERS

Key Benefits
 •   This report entails a comprehensive quantitative solar energy marketing research and current solar energy market trends from 2019 to 2027 to identify the prevailing opportunities along with a strategic assessment of the worldwide solar energy market.
 •   Solar energy market size and estimations are supported by a comprehensive analysis of key developments within the solar energy market industry.
 •   A qualitative analysis supported innovative products facilitates strategic business planning. The development strategies adopted by the key market players are enlisted to know the competitive scenario of the worldwide solar energy market.

Research Methodology: India Solar Energy Market
Data collection modules with large sample sizes is used for data collection and base year analysis. Market share analysis and key trend analysis are the major factors for success in any market report. Market statistical and coherent models are used to analyse the market data. Please request an analyst call for more information on research methodology
Pheonix research consultants use their own proprietary research methodology to evaluate data which involves data mining, analysis of the impact of data variables on the market, and primary validation. Furthermore, other data models consist of market overview and guide, company positioning grid, vendor positioning grid, market time line analysis, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis.

Demand and Supply Side- Primary Research Respondent
Demand Side: Government Ministry/ Department, Solar Power Developers Association, Group Purchasing Organizations, Associations, Authorities, Academic and Universities, Technological Expertise, researcher, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, Senior and mid-level Executives, Distributors, Market Intelligence, and Authority Managers among others.

Report Insights:
 •   To gain insights into the competitive milieu in the market
 •   End-user assessment /Customer behaviours
 •   Detailed Demand and Supply Assessment
 •   Key market drivers and restraints Analysis
 •   Competitive landscape of the key players involved
 •   In-depth analysis of the market segmentation