Market Overview:
India solar rooftop market size is projected to exhibit a growth rate (CAGR) of 14.79% during 2024-2032. The escalating demand for renewable energy technologies, along with the rising focus of government bodies across the country on increasing energy access, is primarily driving the market growth.
Report Attribute
|
Key Statistics
|
Base Year
|
2023 |
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Growth Rate (2024-2032) |
14.79% |
A solar rooftop is an innovative and eco-friendly energy solution that generally involves the installation of solar panels on the roof of residential, commercial, or industrial buildings. This system usually harnesses solar energy that assists in converting sunlight directly into electricity through photovoltaic cells. The deployment of a solar rooftop is a strategic approach to maximizing underused space while actively contributing to environmental sustainability. It significantly reduces dependence on conventional fossil fuels, thereby minimizing carbon footprints and mitigating the effects of climate change. Economically, a solar rooftop offers the advantage of decreased electricity costs, proving to be a cost-efficient alternative in the long run. This technology is particularly advantageous in areas receiving ample sunlight. Consequently, a solar rooftop is gaining extensive traction across the country.
India Solar Rooftop Market Trends:
The India solar rooftop market is experiencing significant growth, driven by numerous primary drivers and the emerging trends. Government bodies across the country are promoting the usage of renewable energy sources, particularly solar power, which is propelling the market growth. Additionally, they are also providing subsidies and launching favorable policies, which in turn, have encouraged both residential and commercial sectors to adopt solar rooftop systems. Besides this, continuous advancements in photovoltaic panel efficiency and the rising integration of smart grid technology are making solar energy more viable and efficient, which is catalyzing the market growth in India. Emerging trends include the growing focus of key players across the country on sustainable and clean energy sources, owing to the elevating consumer awareness towards environmental conservation. The declining cost of solar panels and the rising cost of conventional electricity have also made solar rooftops a more attractive investment. Furthermore, the introduction of net metering policies that allow consumers to sell surplus energy back to the grid is stimulating the market growth. Besides this, the growing energy demand, coupled with the increasing emphasis on reducing carbon emission levels, will continue to bolster the India solar rooftop market over the forecasted period.
India Solar Rooftop Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on grid type and end user.
Grid Type Insights:
The report has provided a detailed breakup and analysis of the market based on the grid type. This includes on-grid and off-grid.
End User Insights:
- Industrial
- Commercial
- Residential
A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes industrial, commercial, and residential.
Regional Insights:
- North India
- West and Central India
- South India
- East and Northeast India
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, and East and Northeast India.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
India Solar Rooftop Market Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
- Grid Type
- End User
- Region
|
Grid Types Covered |
On-Grid, Off-Grid |
End Users Covered |
Industrial, Commercial, Residential |
Regions Covered |
North India, West and Central India, South India, East and Northeast India |
Customization Scope |
10% Free Customization |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the India solar rooftop market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the India solar rooftop market?
- What is the breakup of the India solar rooftop market on the basis of grid type?
- What is the breakup of the India solar rooftop market on the basis of end user?
- What are the various stages in the value chain of the India solar rooftop market?
- What are the key driving factors and challenges in the India solar rooftop?
- What is the structure of the India solar rooftop market and who are the key players?
- What is the degree of competition in the India solar rooftop market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India solar rooftop market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the India solar rooftop market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India solar rooftop industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.