Press release
India Solar PV Module Market to Worth USD 16.90 Billion by 2032 Amid Growing Investments in Renewable Energy and Smart Grid Integration
India Solar PV Module Market
Market Size and Overview-
The India Solar PV Module Market [https://www.coherentmarketinsights.com/industry-reports/india-solar-pv-module-market]size is estimated to be valued at USD 8.83 Bn in 2025 and is expected to reach USD 16.90 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 9.7% from 2025 to 2032.
Request Sample Copy of this Report (Use Corporate eMail ID to Get Higher Priority) at : https://www.coherentmarketinsights.com/insight/request-sample/7314
Key Takeaways:
Segment Covers:
- Technology Segments:
- Monocrystalline: >22% efficiency used in utility-scale arrays, exemplified by a 2 GW Gujarat park in 2024.
- Polycrystalline: Cost-effective option powering solar parks in Rajasthan; 30% of 2024 installations.
- Thin-Film: Niche use in agrivoltaics and floating PV, with 100 MW deployed in 2024 lake projects.
- Installation Type:
- Rooftop: Residential systems grew 35% YoY, driven by net metering incentives.
- Ground-Mounted: 12 GW added in 2024, representing 60% of total capacity additions.
- Floating PV: Pilot projects in Kerala and Telangana reached 150 MW by end-2024.
- End User Segments:
- Residential: Average system size rose to 5 kW in 2024, enabling household energy savings.
- Commercial: Warehouses and campuses installed 1-5 MW arrays, up 28% vs. 2023.
- Industrial: Large enterprises adopted 10-50 MW installations, driving corporate sustainability goals.
Purchase Now Up to 25% Discount on This Premium Report @ https://www.coherentmarketinsights.com/insight/buy-now/7314
Growth Factors:
- Government Support: Production-Linked Incentive (PLI) allocation of USD 2 billion spurred module capacity from 5 GW in 2023 to 8 GW in 2024.
- Cost Declines: Average module pricing dipped to USD 0.18/W in 2024, down 12% YoY, boosting adoption across all segments.
- Financing Innovations: Green bonds totaling USD 1.2 billion channeled to solar projects in FY2024, expanding project pipelines and reducing cost of capital.
Market Trends:
- High-Efficiency Modules: Adoption of PERC and bifacial cells surged to 55% penetration in 2024, augmenting energy yield.
- Localization Push: Domestic cell manufacturing increased by 40% YoY, reducing import dependency from China.
- Integrated Storage: Hybrid PV-battery systems accounted for 10% of new installations in 2024, addressing grid intermittency.
- India Solar PV Module Market trends now emphasize circular economy practices, with recycling pilots processing 5 MW of retired panels in 2024.
Actionable Insights:
- Supply-Side Indicators:
- Production Capacity: Installed module manufacturing capacity reached 12 GW by Q4 2024.
- Pricing: Average ex-factory price stood at USD 0.18/W in 2024, underpinning market affordability.
- Exports: Module shipments worth USD 1.5 billion were exported in 2024, a 25% increase over 2023.
- Demand-Side Indicators:
- Imports: Module imports stabilized at 3 GW in 2024 amid rising domestic output.
- Use Cases: Agriculture sector installations grew by 30%, tapping solar irrigation schemes.
- Micro-Indicators: Average solar plant yield improved to 1,600 kWh/kW/year in 2024, up 5% vs. 2023.
- Nano-Size Indicators: Degradation rate metrics refined to 0.45% per annum for PERC modules, extending warranty profiles.
Get Customization on this Report: https://www.coherentmarketinsights.com/insight/request-customization/7314
Key Players:
- Tata Power Solar
- Adani Solar
- Vikram Solar
- Waaree Energies
- Goldi Solar
- Loom Solar
- Daqo New Energy
- LONGi Green Energy
- Trina Solar
- JinkoSolar
- Azure Power
- Risen Energy
Competitive Strategies:
- Tata Power Solar expanded cell capacity by 1.5 GW under PLI in 2024, driving India Solar PV Module Market share gains of 8% in utility-scale tenders.
- Adani Solar diversified into exports, securing contracts worth USD 200 million in Latin America, boosting India Solar PV Module Market revenue by 18% YoY.
- Vikram Solar launched 540 W panels with higher module efficiency, capturing key corporate PPAs and enhancing business growth through technology differentiation.
FAQs
1. Who are the dominant players in the India Solar PV Module Market?
Leading suppliers include Tata Power Solar, Adani Solar, Vikram Solar, and Waaree Energies, which together account for over 50% of domestic capacity.
2. What will be the size of the India Solar PV Module Market in the coming years?
The market is projected to grow from USD 8.83 Bn in 2025 to USD 16.90 Bn by 2032 at a 9.7% CAGR, driven by policy support and falling costs.
3. Which end-user industry has the largest growth opportunity?
Ground-mounted utility parks dominate near-term demand, but commercial rooftops are fast-growing, registering 28% YoY expansion in 2024.
4. How will market development trends evolve over the next five years?
Trends will shift towards bifacial modules, integrated storage solutions, and recycling ecosystems as industry share moves toward circular economy models.
5. What is the nature of the competitive landscape and challenges in the India Solar PV Module Market?
Intense price competition, supply-chain localization, and raw material constraints remain challenges; differentiation via efficiency and financing partnerships is key.
6. What go-to-market strategies are commonly adopted in the India Solar PV Module Market?
Key strategies include PLI-backed capacity expansion, direct EPC and O&M service offerings, and international market diversification through export partnerships.
Author of this marketing PR:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
About Us:
Coherent Market Insights leads into data and analytics, audience measurement, consumer behaviors, and market trend analysis. From shorter dispatch to in-depth insights, CMI has exceled in offering research, analytics, and consumer-focused shifts for nearly a decade. With cutting-edge syndicated tools and custom-made research services, we empower businesses to move in the direction of growth. We are multifunctional in our work scope and have 450+ seasoned consultants, analysts, and researchers across 26+ industries spread out in 32+ countries.
Media Contact
Company Name: Coherent Market Insights
Contact Person: Mr. Shah
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=india-solar-pv-module-market-to-worth-usd-1690-billion-by-2032-amid-growing-investments-in-renewable-energy-and-smart-grid-integration]
Phone: + 12524771362
Address:533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
City: Burlingame
State: california
Country: United States
Website: https://www.coherentmarketinsights.com/industry-reports/india-solar-pv-module-market
Legal Disclaimer: Information contained on this page is provided by an independent third-party content provider. ABNewswire makes no warranties or responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you are affiliated with this article or have any complaints or copyright issues related to this article and would like it to be removed, please contact retract@swscontact.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release India Solar PV Module Market to Worth USD 16.90 Billion by 2032 Amid Growing Investments in Renewable Energy and Smart Grid Integration here
News-ID: 4070735 • Views: …
More Releases from ABNewswire
Lancets Market to Worth USD 10.40 Billion by 2032 Amid Rising Prevalence of Diab …
"Key players in the Lancets Market include Roche Diagnostics, Abbott Laboratories, Becton Dickinson and Company, Novo Nordisk, Terumo Corporation, Medtronic, Johnson & Johnson, Sanofi, Accu-Chek, Ascensia Diabetes Care, Ypsomed, Acon Laboratories, Nipro Corporation, Universal Diagnostics, and Glucometer Technologies"
The lancets landscape has become indispensable in point-of-care diagnostics, driven by rising self-monitoring and stricter safety regulations. This analysis highlights industry size evolution and shifting industry share influenced by macroeconomic factors and regulatory…
Ocean Power Market to Worth USD 4,825.5 Million by 2032 Amid Growing Focus on Re …
The ocean power market is entering a maturation phase driven by policy mandates for renewable energy and breakthroughs in marine technology. Demand for clean baseload and distributed generation offshore continues to rise, fueling a surge in pilot and commercial-scale wave, tidal, and OTEC projects.
Market Size and Overview-
The Global Ocean Power Market [https://www.coherentmarketinsights.com/industry-reports/ocean-power-market] size is estimated to be valued at USD 1,369.7 Mn in 2025 and is expected to reach USD…
Animal Ultrasound Market to Reach USD 853.7 Million by 2032, Amid Growing Demand …
Key players in the Animal Ultrasound market includes GE Healthcare ,Siemens Healthineers ,Philips Healthcare ,FUJIFILM SonoSite ,Mindray ,Esaote ,Canon Medical Systems ,Samsung Medison ,Analogic (Eagle) ,Shenzhen Mindray ,Vetel Diagnostics ,Holtec ,BCF Technology"
Industry Overview
The Animal Ultrasound Market [https://www.coherentmarketinsights.com/industry-reports/animal-ultrasound-market] has become a cornerstone of veterinary diagnostics and livestock health monitoring, driven by rising demand for non-invasive imaging solutions. Innovations in portability and AI-enhanced imaging are reshaping business growth and market dynamics, enabling…
Asthma Market to Expand Significantly by 2034, States DelveInsight Report | GSK, …
The Key Asthma Companies in the market include - GlaxoSmithKline, AB Science, Areteia Therapeutics, ARS Pharmaceuticals, Inc., AstraZeneca, Pieris Pharma, Sanofi, Cumberland Pharmaceuticals, Genentech Research, Roche, Suzhou Connect Biopharmaceuticals, Ossium Health, Inc., Amgen, Regeneron Pharmaceuticals, RAPT Therapeutics, Inc., Incyte Corporation, Areteia Therapeutics, Suzhou Connect Biopharmaceuticals, Ltd., Cumberland Pharmaceuticals, Pulmatrix Inc., and others.
DelveInsight's "Asthma Market Insights, Epidemiology, and Market Forecast-2034 report offers an in-depth understanding of the Asthma, historical and forecasted…
More Releases for Solar
Biohybrid Solar Cell Market Professional Survey Report 2022 - Jinko Solar, JA SO …
The Biohybrid Solar Cell Market Report 2022 provides a comprehensive analysis of observable trends and projections. This research shows how to attract a large number of customers. Our certified crew of economists, researchers, and advisers has made further attempts in projecting the global industry by utilising accredited global Biohybrid Solar Cell market information tools as well as various instruments and ways to successfully review and get information. The research argues…
Home Solar Power System Market Size, Share, Trends, Growth - Tesla, Panasonic So …
The Global Home Solar Power System Market study includes new innovations, market dynamics, strategic profiling in terms of the future market strategies and shares for the subsectors of the industry. This research consists of details related to the size of the industries, the major players, markets, sales volume and value. This study offers a detail data on the historical data pointers as well as forecasts by region/country for the sectors…
Solar PV Module Market Outlook To 2024 - Trina Solar, Canadian Solar Inc., JA So …
Solar PV module market from utility sector has witnessed a substantial growth globally in recent years. In the first quarter of the year, Vietnam's Ministry of Industry and Trade have talked about their FiT scheme related to utility-based solar power projects. Ongoing electrification programs and incentives benefit pertaining to grid connected power generation is surging the demand for on-grid solar PV modules. On-grid connection represented 55% of the overall solar…
Solar Simulator Market Distribution Channel 2019: Spire Solar, Solar Energy Inte …
Solar Simulator Market report aims to examine the developments of market including its market improvements, developments, positions and others.
This report on the Solar Simulator market offers explanatory knowledge on the market parts like dominating players, drivers and restraints, production, revenue, consumption, import and export, and the most effective development within the organization size, deployment type, inside, segmentation comprised throughout this analysis, also major the players have used various strategies such…
Solar PV Module Market By Key Vendors: Trina Solar, Canadian Solar Inc., JA Sola …
UK solar PV module market is set to expand owing to government initiatives towards sustainable energy integration. The export tariff introduced by the UK government facilitates USD 0.06 per unit for the surplus electricity injected back to the grid by the generator. Favorable government reforms with ambitious plan towards carbon footprint reduction will further boost the business outlook.
Request for a sample of this research report @
https://www.gminsights.com/request-sample/detail/1563
Solar PV Module Market size…
Global Solar Photovoltaic Installations Market 2017: Key Players – BENQ Solar, …
Summary
WiseGuyReports.com adds “Solar Photovoltaic Installations Market 2017 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2022” reports to its database.
This report provides in depth study of “Solar Photovoltaic Installations market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Solar Photovoltaic Installations Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an…
