India Solar Inverter Market Size and Share Analysis - Growth Trends and Forecast Report 2025-2033

India Solar Inverter Market Trends & Summary

India Solar Inverter Market is expected to reach US$ 1,632.69 Million by 2033 from US$ 682.86 Million in 2024, with a CAGR of 10.17% from 2025 to 2033. The market is being driven by the growing integration of solar inverters with energy storage devices, including batteries, which offer a dependable source of electricity during times when there is little to no sunlight.

India Solar Invertor Market Report by Invertor Type (Central Inverters, String Inverters, Micro Inverters), Application (Residential, Commercial & Industrial (C&I), Utility Scale), Region (East India, West India, North India, South India) and Company Analysis, 2025-2033.

India Solar Inverter Industry Overview

An essential part of a photovoltaic (PV) system is a solar inverter, which transforms the direct current (DC) electricity produced by solar panels into alternating current (AC) that can be supplied into the electrical grid and used to power items in the home. The inverter, which serves as a link between solar panels and the electrical grid, controls the voltage and frequency of the AC output while guaranteeing effective energy conversion. Solar inverters come in a variety of forms, each with unique benefits, such as power optimizers, microinverters, and string inverters. By improving energy production and enabling grid connectivity, the inverter is essential to maximizing the overall performance and dependability of solar power systems.

India has seen a notable increase in the use of solar-powered electricity throughout the past ten years.  The total amount consumed was around 0.02 EJ in 2012 and 0.64 EJ in 2021.  This is attributable to the government's numerous efforts to raise national awareness of solar energy.  It is expected that the greater awareness will encourage the installation of solar energy projects in India.

Additionally, the central inverter is a big grid feeder, and utility-scale solar projects control the solar energy industry in India.  In solar PV systems, it is frequently utilized.  They can be anything between 100kW to 100MW in size.  The electric grid is intended to be directly connected to the central inverters.  They are therefore a part of a power plant.

Additionally, the government of India has been quickly increasing the installed capacity base, particularly solar, with the goal of achieving 175 GW of non-fossil fuel capacity by 2022 and 500 GW by 2030.

Growth Drivers for the India Solar Inverter Market

Government Initiatives and Policy Support

The market for solar inverters is expanding due in large part to India's strong commitment to renewable energy. Achieving 100 GW of solar capacity is one of the lofty goals set by important programs like the National Solar Mission. Despite delays, the 2022 aim still affects the momentum of policy. In order to increase rooftop solar adoption in the commercial, industrial, and residential sectors, the government has also launched programs like the Grid-connected Rooftop and Small Solar Power Plants Programme. Financial incentives, subsidies, and advantageous net metering regulations support these programs, which promote increased investment in solar infrastructure. Because of this, the need for dependable and effective solar inverters is continuously increasing nationwide.

Declining Costs of Solar Equipment

The affordability of solar power systems in India has greatly increased as a result of the steady decline in the cost of solar panels and inverters. The cost of equipment has significantly decreased in recent years due to economies of scale, improved production efficiency, and technical improvements. Due to this development, solar energy is now more widely available to home customers as well as major commercial and industrial users. More homes and companies are implementing solar solutions to save electricity costs and become energy independent as the initial capital expenditure becomes less of a barrier. The need for solar inverters is rising nationwide as a result of the falling costs, which also make solar installations a more alluring alternative to conventional energy sources.

Technological Advancements

The development of solar inverter technology has been a major factor in the expansion of the Indian market. The total efficiency, dependability, and flexibility of solar power systems have been greatly increased by the use of cutting-edge inverter technology, such as hybrid inverters and energy storage-integrated systems. Especially useful in places with unstable grids, these contemporary inverters enable seamless integration with batteries, allowing energy storage for use during non-sunny hours or power outages. Furthermore, intelligent features like improved grid compatibility, remote diagnostics, and real-time monitoring are boosting system performance and user confidence. The need for technologically sophisticated inverters is growing as consumers and businesses look for more intelligent and robust energy solutions, making them an essential part of India's solar journey.

Challenges in the India Solar Inverter Market

Skilled Workforce Shortage

There is a severe lack of qualified workers in India's renewable energy industry, which includes the market for solar inverters. There is a growing need for skilled technicians, engineers, and system designers due to the aggressive goals for solar capacity expansion. By 2027, more than 1.2 million more personnel are expected to be needed to service the expanding sustainable energy infrastructure. But this need has outpaced the present workforce development. As a result, a shortage of trained staff frequently causes project implementation to be delayed, which raises operating expenses and may result in quality problems. Maintaining the sector's growth and guaranteeing high-performance solar systems need closing this skills gap through focused training initiatives and collaborations with academic institutions.

Supply Chain Constraints

Due to a lack of domestic manufacturing capability and a strong reliance on imported components, particularly from nations like China, the solar inverter market in India faces serious supply chain issues. This reliance frequently leads to longer lead times, procurement delays, and higher susceptibility to geopolitical unrest or changes in world prices. The overall cost and difficulty of implementing solar projects are further increased by customs fees, shipping delays, and logistical obstacles. These problems put a pressure on project budgets and timetables, especially for small and medium-sized developers. To lessen reliance on imports and create a more robust and affordable solar ecosystem in India, it is imperative to boost domestic manufacturing through supply chain infrastructure investment, governmental support, and incentives.

North India Solar Inverter Market

Large-scale solar power projects in areas like Rajasthan, Punjab, and Uttar Pradesh are propelling the market for solar inverters in North India. The need for solar inverters is rising due to significant initiatives like the Mansa Solar Power Plant, Pokran-Phalodi Solar Park, and Bhadla Solar Park. Throughout the forecast period, the region is expected to continue to hold a leading position in India's solar inverter market revenues. The efficiency and dependability of the system are being improved by technological developments, such as the use of smart and hybrid inverters. Investments in solar installations are also being encouraged by government programs and policy assistance, including as net metering and subsidies. Together, these elements support the market for solar inverters in North India's strong expansion.

South India Solar Inverter Market

The market for solar inverters in South India is expanding rapidly due to the country's ideal climate, growing electricity prices, and encouraging government regulations. The leading states in this expansion are Karnataka, Tamil Nadu, Andhra Pradesh, and Kerala. With more than 7 GW of installed solar capacity, Karnataka is in the lead thanks to programs like the Pavagada Solar Park and the Arunodaya Programme. With over 8 GW deployed and ambitions to build 9,000 MW by 2030, Tamil Nadu is right behind. Demand for solar inverters is being driven by these advancements, especially for hybrid and smart inverters, which provide improved efficiency and grid compatibility. Furthermore, the area is a desirable market for both residential and commercial solar systems due to its high solar irradiation and government incentives.

West India Solar Inverter Market

Western Large-scale solar capacity projects in areas like Rajasthan, Gujarat, and Maharashtra are propelling the West India solar inverter market's notable expansion. With roughly 18 GW of installed solar capacity as of late 2023, Rajasthan is in the lead and accounts for around 25% of India's total solar power generation. With 14.7 GW, Gujarat is just behind and has big plans to increase its solar capacity even more. With a 4.87 GW capacity, Maharashtra is also advancing significantly in the use of solar energy. Demand for solar inverters is rising as a result of these advancements, especially in the residential and commercial markets.  For example, Gujarat has become a leader in rooftop solar installations and has made a substantial contribution to India's total rooftop solar capacity.  The use of solar energy solutions is being further accelerated by the region's advantageous legislation, plentiful sunshine, and rising electricity bills. The Business Line for Hindus. To sum up, the market for solar inverters in West India is expected to grow further due to strong solar infrastructure, encouraging government policies, and a move toward sustainable energy sources.

India Solar Inverter Segments

Inverter Type - Market breakup in 7 viewpoints:

1. Central Inverters
2. String Inverters
3. Micro Inverters

Application - Market breakup in 3 viewpoints:

1. Residential
2. Commercial & Industrial (C&I)
3. Utility Scale

Region - Market breakup in 4 viewpoints:

1. East India
2. West India
3. North India
4. South India

All the Key players have been covered from 4 Viewpoints:

1. Overview
2. Key Persons
3. Business Strategy
4. Financial Insight

Company Analysis:

1. Schneider Electric SE
2. Siemens AG
3. Mitsubishi Electric Corporation
4. ABB Ltd
5. SMA
6. Delta Electronics, Inc.
7. Fronius International GmbH
8. SUNGROW

Report Details: