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India Solar Hybrid Inverter Market
ID: MRFR/EnP/53966-HCR
200 Pages
June 2025
India Solar Hybrid Inverter Market Research Report: By Product (Single-Phase Hybrid, Three-Phase Hybrid), By Grid Type (On Grid, Off Grid) andBy Application (Energy Generation, Solar Energy Storage, Others)- Forecast to 2035 India Solar Hybrid Inverter Market Overview: As per MRFR analysis, the India Solar Hybrid Inverter Market Size was estimated at 0
Industry Developments
Recent developments in the India Solar Hybrid Inverter Market have shown a significant shift towards innovation and investments. Tata Power Solar announced its ongoing expansion in manufacturing capabilities in response to the growing demand for hybrid solutions, aligning with India's goal to enhance renewable energy capacity. In August 2023, SolarEdge Technologies launched a new inverter series designed for residential applications, strengthening its position in the Indian market. Fortum is actively expanding its operations in India, focusing on hybrid energy solutions, which reflects the increasing interest of global players in the local market.In terms of mergers and acquisitions, Microtek International acquired a minority stake in Luminous Power Technologies in September 2023 to enhance its product portfolio in the inverter segment. The market capitalization of leading firms has shown growth, with companies like Goodwe and SMA Solar Technology reporting a notable increase in their revenue figures attributed to the surge in solar installations nationwide. The Indian government continues to encourage investments through initiatives and subsidies, contributing to an optimistic outlook for hybrid inverter technology in India.
Report Scope
Report Scope:
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 0.89(USD Billion) |
| MARKET SIZE 2024 | 1.5(USD Billion) |
| MARKET SIZE 2035 | 4.5(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 10.503% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | SolarEdge Technologies, Fortum, Goodwe, SMA Solar Technology, Microtek International, Amara Raja Batteries, Tata Power Solar, RenewSys, Magenta Power, Sungrow Power Supply, Delta Electronics, Havells India, Luminous Power Technologies, KSTAR, Victron Energy |
| SEGMENTS COVERED | Product, Grid Type, Application |
| KEY MARKET OPPORTUNITIES | Government incentives and subsidies, Growing renewable energy adoption, Increasing electricity demand, Rise in residential solar installations, Technological advancements and innovations |
| KEY MARKET DYNAMICS | government incentives, rising electricity costs, increasing renewable energy adoption, technological advancements, growing demand for off-grid solutions |
| COUNTRIES COVERED | India |
FAQs
What is the expected market size of the India Solar Hybrid Inverter Market in 2024?
The India Solar Hybrid Inverter Market is expected to be valued at 1.5 billion USD in 2024.
What is the projected market value of the India Solar Hybrid Inverter Market by 2035?
By 2035, the market is projected to reach a value of 4.5 billion USD.
What is the expected CAGR for the India Solar Hybrid Inverter Market from 2025 to 2035?
The market is expected to grow at a CAGR of 10.503% from 2025 to 2035.
Which product segment contributes the most to the India Solar Hybrid Inverter Market?
The Three-Phase Hybrid segment is expected to contribute significantly, with a value of 0.9 billion USD in 2024.
What is the projected market size for Single-Phase Hybrid in 2035?
The Single-Phase Hybrid segment is projected to reach 1.8 billion USD by 2035.
Who are the key players in the India Solar Hybrid Inverter Market?
Major players include SolarEdge Technologies, Fortum, Goodwe, and SMA Solar Technology among others.
How large is the Three-Phase Hybrid segment in 2024?
The Three-Phase Hybrid segment is valued at 0.9 billion USD in the year 2024.
What are the growth drivers for the India Solar Hybrid Inverter Market?
Increasing demand for renewable energy sources and government incentives are key growth drivers.
What challenges does the India Solar Hybrid Inverter Market currently face?
Challenges include regulatory hurdles and competition from alternative energy solutions.
What is the expected market situation for the India Solar Hybrid Inverter Market in terms of opportunities from 2025 to 2035?
The market presents numerous opportunities driven by advancements in solar technology and growing consumer awareness.
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