india solar inverter and battery market

India Solar Inverter and Battery Market - Industry Trends and Forecast to 2029

  • Published Date: 2022-12-22
  • Report ID: 143060
  • Pages: 225
  • Format: prudent report format


Short Description

India Solar Inverter and Battery Market, By Connection Type (On-Grid, Off-Grid), Phase (Single Phase, Three Phase), Inverter Type (Central Inverter, String Inverter, Micro Inverter), Battery Type (Lead-Acid, Lithium-Ion, Others), End User (Residential, Commercial, Industrial), Sales Channel (Direct Channel, Indirect Channel) Industry Trends and Forecast to 2029
Market Definition
A solar inverter is plug-and-play equipment that transforms direct current generated by a single module into alternating current in photovoltaic installations. Solar inverter, unlike conventional central inverters, operate on module level power electronics (MLPE), which involves power conversion at the module level. As a result, the negative impacts of module mismatch are reduced, and the system's overall efficiency is improved.
Solar battery is a storage system which stores energy from a solar PV system for later use. There are several types of solar batteries such as lithium-ion, lead acid, Nickel cadmium and many others. These battery technologies are used in various applications, especially for commercial purpose and is integrated with solar panels and photovoltaic cells.
Market Segmentation

India solar inverter and battery market is segmented into six categories which are the connection type, inverter type, phase, battery type, sales channel and end user.
On the basis of on connection type, the India solar inverter and battery market is segmented into on-grid, off-grid
On the basis of inverter type, the India solar inverter and battery market is segmented into central inverter, string inverter and micro inverter
On the basis of phase, the India solar inverter and battery market is segmented into single phase and three phase
On the basis of battery type, the India solar inverter and battery market is segmented into lithium ion, lead-acid and others
On the basis of sales channel, the India solar inverter and battery market is segmented into direct and indirect
On the basis of end user, the India solar inverter and battery market is segmented into residential, commercial and industrial
Market Players

Some of the major players operating in the India solar inverter and battery market are:

Luminous India
Amara Raja Group
Lento Industries Pvt. Ltd.
Waaree Energies Ltd.
Fchoice Solar Tech India Pvt Ltd.
MICROTEK
EXIDE INDUSTRIES LTD.
UTL SOLAR
V-GUARD INDUSTRIES LTD.
Flin Technologies Private Limited
Genus Innovations Ltd.
Jakson Group


TABLE OF CONTENTS
1 INTRODUCTION 9
1.1 OBJECTIVES OF THE STUDY 9
1.2 MARKET DEFINITION 9
1.3 OVERVIEW OF INDIA SOLAR INVERTER AND BATTERY MARKET 9
1.4 CURRENCY AND PRICING 10
1.5 LIMITATIONS 10
1.6 MARKETS COVERED 11
2 MARKET SEGMENTATION 12
2.1 MARKETS COVERED 12
2.2 GEOGRAPHICAL SCOPE 13
2.3 YEARS CONSIDERED FOR THE STUDY 13
2.4 DBMR TRIPOD DATA VALIDATION MODEL 14
2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 17
2.6 DBMR MARKET POSITION GRID 18
2.7 MULTIVARIATE MODELING 19
2.8 CONNECTION TYPE TIMELINE CURVE 20
2.9 SECONDARY SOURCES 21
2.10 ASSUMPTIONS 21
3 EXECUTIVE SUMMARY 22
4 PREMIUM INSIGHTS 24
4.1 VALUE CHAIN ANALYSIS 25
4.2 TECHNOLOGY ANALYSIS 25
4.3 STANDARDS 26
4.4 CASE STUDY 26
4.5 PRICING ANALYSIS 26
5 MARKET OVERVIEW 27
5.1 DRIVERS 29
5.1.1 INCREASE IN INSTALLATION OF SOLAR PV IN VARIOUS END-USER 29
5.1.2 RISE IN INTEGRATION OF SOLAR AND STORAGE TECHNOLOGIES 30
5.1.3 RISE IN THE ADVANCEMENT OF POWER ELECTRONICS 30
5.2 RESTRAINTS 31
5.2.1 HIGHER INSTALLATION COSTS OF SOLAR-INVERTERS 31
5.2.2 HIGHER DEPENDENCE ON CONVENTIONAL SOURCES OF ENERGY FOR ELECTRICITY GENERATION 32
5.3 OPPORTUNITIES 33
5.3.1 RISE IN NEED FOR SUSTAINABLE & CLEAN ENERGY TO REDUCE GREENHOUSE GAS EMISSIONS 33
5.3.2 INCREASE IN THE GOVERNMENT INITIATIVES TO PROMOTE A RENEWABLE ENERGY SOURCE 34
5.3.3 RISE IN POWER CRISIS WORLDWIDE 35
5.4 CHALLENGES 35
5.4.1 RISING ADOPTION OF ALTERNATIVES ACROSS THE MARKET 35
5.4.2 COMPLICATED DESIGN STRUCTURE OF SOLAR INVERTER 36
6 INDIA SOLAR INVERTER AND BATTERY MARKET, BY CONNECTION TYPE 37
6.1 OVERVIEW 38
6.2 ON-GRID 39
6.3 OFF-GRID 39
7 INDIA SOLAR INVERTER AND BATTERY MARKET, BY PHASE 40
7.1 OVERVIEW 41
7.2 THREE PHASE 42
7.3 SINGLE PHASE 42
8 INDIA SOLAR INVERTER MARKET, BY INVERTER TYPE 43
8.1 OVERVIEW 44
8.2 CENTRAL INVERTER 45
8.3 STRING INVERTER 45
8.4 MICRO INVERTER 45
9 INDIA SOLAR BATTERY MARKET, BY BATTERY TYPE 46
9.1 OVERVIEW 47
9.2 LEAD-ACID 48
9.3 LITHIUM-ION 48
9.4 OTHERS 48
10 INDIA SOLAR INVERTER AND BATTERY MARKET, BY END USER 49
10.1 OVERVIEW 50
10.2 COMMERCIAL 51
10.3 RESIDENTIAL 51
10.4 INDUSTRIAL 51
11 INDIA SOLAR INVERTER AND BATTERY MARKET, BY SALES CHANNEL 52
11.1 OVERVIEW 53
11.2 INDIRECT CHANNEL 54
11.3 DIRECT CHANNEL 54
12 INDIA SOLAR INVERTER AND BATTERY MARKET, COMPANY LANDSCAPE 55
12.1 COMPANY SHARE ANALYSIS: INDIA 55
13 SWOT 56
14 COMPANY PROFILES 57
14.1 WAAREE ENERGIES LTD. 57
14.1.1 COMPANY SNAPSHOT 57
14.1.2 PRODUCT PORTFOLIO 57
14.1.3 RECENT DEVELOPMENTS 58
14.2 LUMINOUS INDIA 59
14.2.1 COMPANY SNAPSHOT 59
14.2.2 PRODUCT PORTFOLIO 59
14.2.3 RECENT DEVELOPMENTS 60
14.3 AMARA RAJA GROUP 61
14.3.1 COMPANY SNAPSHOT 61
14.3.1 REVENUE ANALYSIS 61
14.3.2 PRODUCT PORTFOLIO 62
14.3.3 RECENT DEVELOPMENT 62
14.4 EXIDE INDUSTRIES LTD. 63
14.4.1 COMPANY SNAPSHOT 63
14.4.2 REVENUE ANALYSIS 63
14.4.3 PRODUCT PORTFOLIO 64
14.4.4 RECENT DEVELOPMENT 64
14.5 JAKSON GROUP 65
14.5.1 COMPANY SNAPSHOT 65
14.5.2 PRODUCT PORTFOLIO 65
14.5.3 RECENT DEVELOPMENTS 65
14.6 FCHOICE SOLAR TECH INDIA PVT LTD. 67
14.6.1 COMPANY SNAPSHOT 67
14.6.2 PRODUCT PORTFOLIO 67
14.6.3 RECENT DEVELOPMENTS 67
14.7 FLIN TECHNOLOGIES PRIVATE LIMITED 68
14.7.1 COMPANY SNAPSHOT 68
14.7.2 PRODUCT PORTFOLIO 68
14.7.3 RECENT DEVELOPMENT 68
14.8 GENUS INNOVATIONS LTD. 69
14.8.1 COMPANY SNAPSHOT 69
14.8.2 PRODUCT PORTFOLIO 69
14.8.3 RECENT DEVELOPMENT 70
14.9 LENTO INDUSTRIES PVT. LTD. 71
14.9.1 COMPANY SNAPSHOT 71
14.9.2 PRODUCT PORTFOLIO 71
14.9.3 RECENT DEVELOPMENT 71
14.10 MICROTEK 72
14.10.1 COMPANY SNAPSHOT 72
14.10.2 PRODUCT PORTFOLIO 72
14.10.3 RECENT DEVELOPMENTS 72
14.11 UTL SOLAR 73
14.11.1 COMPANY SNAPSHOT 73
14.11.2 PRODUCT PORTFOLIO 73
14.11.3 RECENT DEVELOPMENT 73
14.12 V-GUARD INDUSTRIES LTD. 74
14.12.1 COMPANY SNAPSHOT 74
14.12.2 REVENUE ANALYSIS 74
14.12.3 PRODUCT PORTFOLIO 75
14.12.4 RECENT DEVELOPMENT 75
15 QUESTIONNAIRE 76
16 RELATED REPORTS 79
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