To India in 2024 solar equipment market scale will reach $6. 3 billion

Solar photovoltaic webex: international Market Research firm Research And Market solar equipment (released by India Solar cells, solar inverter, solar charge controller, solar collector and other) Market, the report says India by 2024 solar equipment market compound annual growth rate of more than 12%, the size of the market to reach $6. 3 billion.

the Indian government plans by 2022 100 gigawatts of solar energy capacity, thus, favorable policies and incentives, plan for the development of solar energy and very large solar projects is expected to help India's solar equipment market growth in the coming years.

in addition, other factors, such as continuous improvement of solar energy equipment technology, the advanced high-tech equipment manufacturing process and the expected prices to fall, is likely to be in the next five years for India's solar equipment market have a positive impact.

from the device type, the solar cell market in India solar equipment market occupies an important share, is expected to maintain its leading position in the forecast period also. Main factors to promote the growth of the solar cell market including solar projects in different areas of the installed capacity increase and favorable government policies.

in regional terms, is the main demand of solar equipment area, southern state of karnataka, Tamil nadu, andhra pradesh and trent Gunnar states and other countries is the main regional markets in the region. Solar energy equipment market in the southern part of the country is growing, the main reason is that investment is increasing, the southern solar equipment market is expected to grow steadily in the prediction period.

in order to increase the customer needs, is committed to the major suppliers of solar energy equipment market at a lower price with advanced technology solutions and systems. This will help suppliers stand out from the peers and remain competitive. In addition, with developers and EPC contractor for the strategic and cooperative partnership and cooperation and investment in r&d activity is the main market participants adopt other strategies, to improve the existing product portfolio and enlarge its market footprint.

but the report also noted that the weak electric power transmission and distribution infrastructure, land expropriation procedures redundancy, import duties and controversial pegged to the manufacturing of such factors as the bidding process are also restricts the development of the market.

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