India – Solar Power Market size to increase by USD 273.82 billion between 2022 to 2027| ABB Ltd., ACME Solar, Adani Group, and more among key companies- Technavio

NEW YORK, Sept. 27, 2023 /PRNewswire/ — The India – Solar Power Market size is expected to grow by USD 273.82 billion, accelerating at a CAGR of 34.24% during the forecast period, according to Technavio. Increasing investments in renewable energy is notably driving the solar power market in India. However, factors such as the presence of other energy sources may impede market growth. We provide a detailed analysis of 20 companies operating in the solar power market in India including ABB Ltd., ACME Solar, Adani Group, Azure Power, Canadian Solar Inc., GCL System Integration Technology Co. Ltd., Huawei Technologies Co. Ltd., JA Solar Technology Co. Ltd., Lanco Infratech Ltd., Larsen and Toubro Ltd., Mahindra and Mahindra Ltd., MVV Energie AG, Reliance Industries Ltd., Risen Energy Co. Ltd., SMA Solar Technology AG, Sterling and Wilson Renewable Energy Ltd., Sungrow Power Supply Co. Ltd., Sunsure Energy, Suzlon Energy Ltd., and ReNewPower. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request Free Sample Report

India – Solar Power Market 2023-2027: Company Analysis

ABB Ltd: The company offers solar power such as solar products, solar systems, solar solutions, and services to optimize performance.

This report provides a full list of key companies, their strategies, and latest developments. Buy the report Now for detailed company information

India – Solar Power Market 2023-2027: Segmentation


  • Grid-connected
  • Off-grid


  • Utility
  • Rooftop

The grid-connected segment is the fastest-growing segment during the forecast period. In the grid-connected segment, solar energy is directly supplied to the building loads, eliminating the necessity for an energy storage system. Moreover, any excess energy is redirected back to the grid, while any shortfall is supplemented from the grid.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View PDF Sample Report

India – Solar Power Market 2023-2027: Market Dynamics

Trends: The growth of the solar power market in India is significantly influenced by the increasing adoption of floating solar power plants. A noteworthy emerging technology, currently in its early stages worldwide, is the concept of floating solar power plants. These innovative installations offer a distinct advantage by being deployable in both man-made and natural water bodies, such as dam reservoirs, lakes, municipal water storage ponds, and water treatment facilities. Notably, floating solar power systems demonstrate superior performance compared to traditional land-based solar arrays.

For more information on market drivers and challenges, download the sample report here

India – Solar Power Market 2023-2027: Key Highlights

  • Historic Market Size 2017-2021
  • CAGR of the market during 2023-2027
  • Detailed information on factors that will assist solar power market growth in India during the next five years
  • Forecasts on upcoming trends and changes in consumer behavior
  • The growth of the solar power market in India
  • Analysis of the competitive landscape and detailed information on companies
  • Comprehensive details of factors that will impede the growth of solar power market in India companies


  • How do the major trends impact the market?
  • How do the key drivers and challenges impact the market?

Related Reports:

US – Solar Power Market: The US-solar power market size is estimated to grow at a CAGR of 10.24% between 2022 and 2027. The market size is forecast to increase by USD 16.41 billion.

Solar Power Market in Brazil: The predicted growth for the solar power market share in Brazil from 2021 to 2026 is 89.57 terawatt-hour units at a CAGR of 47.24%.

Table of Contents:

  1. Executive Summary
  2. Market Landscape
  3. Market Sizing
  4. Historic Market Sizes
  5. Five Forces Analysis
  6. Market Segmentation by Application
  7. Market Segmentation by End-User
  8. Customer Landscape
  9. Geographic Landscape
  10. Drivers, Challenges, & Trends
  11. Company Landscape
  12. Company Analysis
  13. Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


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SOURCE Technavio