According to www.techsciresearch.com latest report- India Solar Power Equipment Market By Equipment Type (Solar Cell, Solar Inverter, Solar Charge Controller, Solar Thermal Collector and Others), Competition, Forecast & Opportunities, 2014-2024. Report URL- https://www.techsciresearch.com/report/india-solar-power-equipment-market/3849.html

1. India Solar Power Equipment Market
BY EQUIPMENT TYPE,
COMPETITION, FORECAST & OPPORTUNITIES
2014 – 2024
PUBLISHED : MARCH 2019
M A R K E T I N T E L L I G E N C E . C O N S U L T I N G
www.techscireserach.com

2. 2© TechSci Research
Table of Contents
S No. Contents
1. Product Overview
2. Research Methodology
3. Analyst View
4. Voice of Customer
4.1. Aided Brand Awareness
4.2. Factors Influencing Purchase Decision
4.3. Willingness to switch from existing brand
4.4. Challenges & Unmet Needs
5. India Power Generation Market Outlook
6. India Solar Power Equipment Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1.
By Equipment Type (Solar Cell, Solar Inverter, Solar Charge Controller, Solar Thermal Collector and
Others)
6.2.2. By Region
6.2.3. By Company
7. India Solar Cell Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Size & Forecast

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Table of Contents
S No. Contents
7.2.1. By Type (Polycrystalline, Monocrystalline and Thin Film Solar)
8. India Solar Inverter Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Size & Forecast
8.2.1. By Type (Central Inverter and String Inverter)
9. India Solar Charge Controller Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Size & Forecast
9.2.1. By Type (Maximum Power Point Tracker, Pulse Width Modulation and Simple 1 or 2 Stage Controls)
10. India Solar Thermal Collector Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Size & Forecast
10.2.1. By Type (Concentrating and Non-Concentrating)
11. Import & Export Analysis
12. Pricing Analysis

4. 4© TechSci Research
Table of Contents
S No. Contents
13. Demand-Supply Gap Analysis
14. Market Dynamics
15. Market Trends & Developments
16. Policy & Regulatory Landscape
17. India Economic Profile
18. Competitive Landscape
18.1. Company Profiles
18.1.1. Mundra Solar PV Ltd (Adani Solar)
18.1.2. Tata Power Solar Systems Ltd.
18.1.3. Vikram Solar Limited
18.1.4. Waaree Energies Ltd.
18.1.5. Indosolar
18.1.6. Goldi Solar Pvt. Ltd.
18.1.7. Gautam Solar Pvt. Ltd.
18.1.8. Websol Energy System Limited
18.1.9. Central Electronics Limited
18.1.10. Euro Multivision Ltd
19. Strategic Recommendations
20. About Us & Disclaimer

5. PRODUCTOVERVIEW

6. 6© TechSci Research
Product Overview
Solar power equipment is an important component of a solar energy system. Solar power equipment helps in harnessing the solar energy
from the sun, reducing carbon emissions, and bringing down or eliminating energy bills. Various types of solar power equipment available
in the market include solar panels, solar batteries, solar mounting & racking systems, solar trackers, and solar inverters.
Review Period
2014 – 2024
Base Year
2018
Estimated Year
2019
Forecast Period
2020 – 2024
Year Range
Solar Power Equipment
Market Segmentation
PRODUCT TYPE
• Solar Cell
• Solar Inverter
• Solar Charge
Controller
• Solar Thermal
Collector
• Others (Mounting
Structure, Tracking
Device, MC4
Connector, etc.)
By Region
• South
• North
• West
• East
By Company
• Adani Solar
• Tata Power Solar
Systems Limited
• Vikram Solar
• Waaree Energies
Limited
• Indo Solar Limited

7. 7© TechSci Research
Product Overview
Solar Cell
A solar cell, or photovoltaic cell, is an
electrical device that converts the energy
of light directly into electricity by
the photovoltaic effect, which is
a physical and chemical phenomenon.
A solar inverter or PV inverter, is a type of
electrical converter which converts the
variable direct current output of a
photovoltaic solar panel into a utility
frequency alternating current that can be
fed into a commercial electrical grid or
used by a local, off-grid electrical network.
Solar Inverter
A solar charge controller manages the
power going into the battery bank from the
solar array. It ensures that the deep cycle
batteries are not overcharged during the
day, and that the power doesn’t run
backwards to the solar panels overnight
and drain the batteries.
Solar Charge Controller
Solar thermal collectors turn the
sun’s radiation into heat and then transfer
that heat to air or water. This process is
facilitated by a hot water solar collector.
Solar collectors are either non-
concentrating or concentrating.
Solar Thermal Collector
Solar Cell Solar Inverter Solar Charge Controller Solar Thermal Collector
Product Segmentation

8. RESEARCHMETHODOLOGY

9. 9© TechSci Research
Research Methodology
 Identiing Key Opinion
Leaders
 Questionnaire Design
 In-depth Interviews
Data
Collection
Developing list
of respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was
conducted to determine
top players in the India
solar power equipment
market, overall market
size and segmental
market size.
In order to conduct
industry experts’
interviews, TechSci
formulated a
detailed discussion
guide.
List of industry
players and
industry
specialists was
developed.
TechSci conducted
interviews with
industry experts
and industry
players for data
collection and
verification.
Data obtained as
a result of
primary and
secondary
research was
validated through
rigorous
triangulation.
The data was
scrutinized using MS-
Excel, statistical tools
and internal proprietary
database to obtain
qualitative and
quantitative insights
about the India solar
power equipment
market.
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
 Recent Developments
 Market Changing
Aspects/Dynamics
 Government Policies
 Final Conclusion
 Market Participants
 Key Strengths
 LinkedIn
 TechSci Internal
Database
 Factiva
 Hoovers
Paid Sources
 Company Website
 Company Annual
Reports
 White Paper Study
 Financial Reports
 Investor
Presentations
 Regulatory Body
 Associations, etc.
Secondary ResearchPrimary Research

10. 10© TechSci Research
Research Methodology
Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of India solar power equipment market. The
team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as various
initiatives taken by the government of India, favorable policies and investments, etc. The study includes market forecasting, which
would enable our clients to take better decisions while planning their strategy to achieve sustainability in India solar power
equipment market.
Methodology Followed for Calculation of Market Size:
 Market Size by Value (Financial Year Considered throughout the report, e.g. 2018 represents the data for the period April 2017 to
March 2018 & so on): Market size, in terms of value for the year 2018 was calculated based on information collected through
exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as solar power
developers, solar equipment manufacturers, suppliers and industry experts.
 The team interviewed developers/manufacturers/suppliers/traders/distributors/ and industry experts in India solar power
equipment market to estimate the overall market size during 2014-2024, which was validated by using Delphi technique. Taking
standard deviation into consideration, the market size was averaged out, to arrive at the market size data for 2014-2024.
 Pricing Methodology: The India solar power equipment market size has been calculated considering Retail Selling Price (RSP) of
equipment.

11. 11© TechSci Research
Research Methodology
Respondents were asked about the current and future market growth rates. Removing the outlier responses, the geometric
mean of growth estimates and product wise revenue shares generated across various segments were considered, to arrive at
the final revenue shares.
Methodology Followed for Forecasting:
 TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the
survey results in SPSS/Tableau Software.
 Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To
forecast India solar power equipment market, TechSci Research used various forecast techniques such as:
o Moving Average
o Time Series Analysis
o Econometric and Judgmental Analysis
 TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions.
TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to
reach accurate market numbers.

12. 12© TechSci Research
Research Methodology
TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also
used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted
that the figures compiled are only for the organized market including market share data.
Partial List of Companies Interviewed Key Secondary Sources
 Tata Power Solar Systems Limited
 Adani Solar
 Vikram Solar
 Waaree Energies Limited
 Indo Solar
 Gautam Solar
 Websol Energy Systems
 Euro Multivision Limited
 Goldi Solar Private Limited
 Photon Energy Systems Limited
 Central Electronics Limited
 Moser Baer Solar Limited
 Luminous India
 Ministry of New & Renewable Energy (MNRE)
 Solar Energy Corporation of India Limited (SECI)
 Central Electricity Authority (CEA)
 National Solar Energy Federation of India Limited (NSEFI)
 Indian Renewable Energy Development Agency Limited (IREDA)
 Census of India
 Ministry of Corporate Affairs
 World Bank
 TechSci Research Proprietary Database & Knowledge Repository
 Company Annual Reports
 Industry Magazines
 Industry Reports
 Statista
 News Dailies
 Credible Paid Databases

13. 13© TechSci Research
INDUSTRY BRIEF
According to a recent report published by TechSci research on “India Solar Power Equipment Market By Equipment Type, Competition, Forecast &
Opportunities, 2014-2024”, India solar power equipment market is projected to grow at a CAGR of over 12% during forecast period, on account of rising inclination
towards renewable power generation, growing need for clean & green energy, reducing electricity bills and integration of power to the grid. India is anticipated to
witness robust growth in solar power generation capacity owing to rising focus of the government towards sustainable energy generation. Availability of abundant
sunshine throughout the year makes the country an ideal location for solar power generation. Additionally, rapid population growth and increasing urbanization and
industrialization is driving demand for energy, traditionally met by coal and crude oil. However, growing shift towards renewable sources of energy and favorable
government initiatives is driving demand for solar power in India. Furthermore, government support in the form of favorable policies, subsidies and tax incentives are
expected to positively impact India solar power equipment market in the coming years.
Under the Jawaharlal Nehru National Solar Mission (JNNSM), a capacity addition of 100 GW has been envisaged to be achieved by 2022. This would require
production and usage of solar cells and modules for power generation. The second phase of JNNSM solar development program mandates 50% local equipment
sourcing, which is expected to boost the country’s solar equipment market. A large demand for solar power equipment generates from southern region. Southern solar
power equipment market is anticipated to grow at the fastest rate during forecast period on account of increasing investments in solar power equipment and
presence of states like Karnataka, Tamil Nadu, Andhra Pradesh & Telangana, which are rich in terms of annual quantity and availability of solar radiation.
“With rising demand for solar equipment, many domestic players such as Tata Power Solar, Mundra Solar PV Limited, Vikram Solar Limited, Waaree Energies and
Websol Energy Systems, etc., are offering cost-effective and high efficiency solar equipment with low system cost per kW. Moreover, increasing competition in the
market from Chinese players is resulting in considerable decline in average selling price of equipment. Furthermore, advancements in cell manufacturing technology
and upgradation and integration of power infrastructure across India would further steer growth in India solar power equipment market in the coming years.” said, Mr.
Karan Chechi Research Director with TechSci Research, a research based global management consulting firm.

14. 14© TechSci Research
SAMPLE DATA - SNAPSHOT
India Solar Cell Market Size, By Value, 2014–2024F (USD Million)
2014 2015 2016 2017 2018 2019E 2020E 2021E 2022E 2023E 2024F
India Solar Rooftop Installed Capacity, By Sector (As on January 2019)
0.00% 10.00% 20.00% 30.00% 40.00% 50.00%
Public
Residential
Commercial
Industrial
India Solar Water Heater Market Size, By Volume (Per Thousand
Square Meter), 2014-2018
2014 2015 2016 2017 2018
India Solar Inverter Market Size, By Value, 2014–2024F (USD Million)
2014 2015 2016 2017 2018 2019E 2020E 2021E 2022E 2023E 2024F

15. 15© TechSci Research
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REPORT NAME : INDIA SOLAR POWER EQUIPMENT MARKET
BY EQUIPMENT TYPE,
COMPETITION, FORECAST & OPPORTUNITIES
2014 – 2024
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Custom Research License $7500
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16. About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India.
TechSci Research provides market research reports in a number of areas to organizations. The company uses
improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use
and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country,
Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich
market.
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The contents of this report are based on information generally available to the public from sources believed to be reliable. No
representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation
of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci
Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any
errors or omissions or for the results obtained from the use of such information and especially states that it has no financial
liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts,
can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for
client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci
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