인도의 솔라 케이블 시장 규모는 예측 기간 동안 12.94%의 CAGR로 2025년 6,655만 달러에서 2033년에는 1억 7,617만 달러로 성장할 것으로 예상됩니다.
인도의 솔라 케이블 시장은 태양광발전의 도입 확대로 인해 최근 몇 년 동안 괄목할 만한 성장세를 보이고 있습니다. 또한, 스마트 시티에 대한 투자가 증가함에 따라 향후 몇 년 동안 견조한 성장세를 유지할 것으로 예상됩니다.
인도에서 태양광발전 및 송전이 증가함에 따라 솔라 케이블에 대한 수요도 증가하고 있습니다. 또한 신흥국의 전기화 추진과 전력 인프라에 첨단 태양광 기술 도입의 필요성도 솔라 케이블 기업에게 새로운 기회가 되고 있습니다. 대규모 태양광발전소, 옥상 설치형 태양광 시스템, 오프그리드 시스템 등 태양광발전 인프라 확대 계획이 진행 중이며, 이는 솔라 케이블의 수요 확대로 이어지고 있습니다. 또한, 전력회사들이 태양광발전 생산량을 늘리기 위해 합작 투자에 참여하면서 시장 수요를 더욱 증가시키고 있습니다.
에너지 전송의 효율성과 신뢰성 향상에 대한 요구가 증가함에 따라 태양광 시스템에서 전기 부품의 중요성이 높아지면서 솔라 케이블 시장의 수요가 증가하고 있습니다. 솔라 케이블은 열악한 환경에서도 내구성이 뛰어나 에너지 손실을 최소화할 수 있습니다. 또한, 산업 및 상업 부문에서도 옥상 태양광 설치에 대한 투자가 증가하고 있으며, 솔라 케이블에 대한 수요도 꾸준히 증가하고 있습니다. 또한, 지방 및 외딴 지역의 분산형 태양광발전 프로젝트에 대한 유틸리티 사업자와 정부 기업의 투자 확대로 인해 내구성과 유연성을 겸비한 솔라 케이블에 대한 수요가 더욱 증가하고 있습니다.
인도의 솔라 케이블 시장을 조사했으며, 시장 정의와 개요, 시장 규모 동향 및 예측, 각종 분류별 상세 분석, 산업 구조, 시장 성장 촉진요인 분석, 경쟁 상황, 주요 기업 개요 등의 정보를 정리하여 전해드립니다.
India solar cables market is projected to witness a CAGR of 12.94% during the forecast period FY2026- FY2033F, growing from USD 66.55 million in FY2025 to USD 176.17 million in FY2033. The India solar cables market has experienced significant growth in recent years due to the growing adoption of solar power. Further, rising investment in smart cities is expected to maintain a strong pace of expansion in the coming years.
In India, there is an increase in generation and transmission of solar power which drives the demand for solar cables in the market. Moreover, the country's wave of electrifying developing countries and the necessity for adopting advanced solar technologies in power infrastructure are forming opportunities for solar cable companies in the market. The country is planning to increase the infrastructure of solar energy, such as large solar farms, rooftop-based solar systems, and off-grid systems, which has formed a trend of high demand for solar cables in the marketplace. Utilities companies are entering into joint ventures to increase the production of solar energy in the country, which drives demand for solar cables in the market.
In September 2024, Total Energies SE and Adani Green Energy Limited (AGEL) agreed to create a new joint venture, equally owned by TotalEnergies and AGEL, with a 1,150 MWac (1,575 MWp) solar portfolio in Khavda in Gujarat. AGEL contributes to the joint venture with assets and TotalEnergies provides an equity investment of USD 444 million to support development. This highlights the rising investment in solar power generation, which drives the demand for solar cables in the market.
With the increasing need for efficient and reliable energy transmission, electrical components in solar systems fuel the demand for solar cables in the market. Solar cables can endure extreme environmental conditions, ensuring minimal loss of solar energy. Additionally, the industrial and commercial sectors are increasingly investing in rooftop solar installations, generating a strong demand for solar cables. Besides, increased investment by utilities and government firms in decentralized solar schemes in rural and far-off locations of the country has further increased demand for long-lasting and flexible solar cables.
Shift Towards Solar Energy Sources to Transform Energy Landscape
The growing awareness regarding the environmental benefits associated with the usage of solar energy sources boosts the demand for solar cables. Solar energy has become the prevalent form of renewable energy. The residential sector throughout India has installed solar panels on roofs, which allow homeowners to receive all the benefits of solar energy. The rooftop solar PV installations contribute to significant demand for solar cables in the residential sector. Moreover, the country is looking for energy independence by reducing reliance on imported fossil fuels, enhancing national energy security, further motivating the shift towards solar energy, thus contributing to the rising demand for solar cables in the market. The solar installations, ranging from large-scale solar farms to rooftop systems and off-grid projects, expand across the country, driving the demand for solar cables in the market.
For instance, the government of India during 2025-2026 is actively promoting the growth of solar power projects with new schemes and programs such as solar parks and ultra-mega renewable energy power parks (UMREPPs). The program promotes the use of new solar technologies and components such as solar cables to increase the efficiency and yield of solar installations, thereby increasing their demand in the market.
Solar cables are becoming an essential component for connecting and transmitting power within photovoltaic (PV) systems to end-users, which drives their demand in the market. In addition, the transformation of the energy landscape through solar sources is driving an upward trend in solar cable installations in different sectors. The solar cables can distribute and address solar energy demands, which significantly contributes to attaining sustainability goals and economic resilience. Furthermore, the manufacturing cost of panels is decreasing, and vast untapped potential for solar energy in the country, which creates a positive outlook for the expansion of solar cables across different sectors.
Rising Investment Towards Smart Cities and Energy Storage Technologies, Introducing Market Opportunity
The trend towards urbanization and the establishment of smart cities is generating strong market opportunities for the solar cables market. The nation is seeking to upgrade grids that would be able to manage the variability inherent in renewable energy sources, resulting in the increasing demand for solar cables in the market. The nation is attempting to incorporate efficient and sustainable energy solutions into the infrastructure, which is opening space for high-quality solar cables in the market. Solar cables are emerging as an indispensable part of the adoption of technology in the nation. Solar cables are an important part of the systems as cables that ensure effective power transmission from solar panels to inverters, batteries, and the grid.
In smart cities, energy storage and management systems and IoT devices are used extensively, which require quality solar cables to enable power transmission efficiently. The increasing emphasis on green building norms and energy-efficient infrastructure in urban settings is also promoting the use of solar energy systems, increasing the demand for high-quality solar cables in the market. Additionally, smart city development and the integration of renewable energy with policies and initiatives at the government level are increasing the deployment of solar projects within cities, which further drives the India solar cable market growth. Moreover, programs such as India's Smart Cities Mission emphasize the use of solar energy to power public infrastructure, creating a robust market for solar cables.
For instance, in June 2024, according to India Energy Storage Week (IESW), India geared up for a major investment influx in the energy storage and advanced battery sector, with over USD 268 million expected to be channelled into various projects that drive the growth of the advanced storage system market.
DC Cable Dominates the India Solar Cable Market Share
DC cable has a high adoption rate during the forecast period, making it the leading segment in the market. The country has resulted in a rapid growth in solar installations, such as large-scale solar farms, rooftop systems, and off-grid projects, which are fueling the demand for solar cables in the market. DC cables are required to link solar panels to inverters, where the direct current (DC) produced by the panels is converted. In addition, the increase in decentralized solar projects, especially in remote and rural locations, further increases the demand for efficient and long-lasting DC cables in the market. Furthermore, government incentives such as subsidization of rooftop solar installations and large solar installation farms fuel demand for solar cables in the market.
West and Central Region Dominates the India Solar Cables Market Size
West and Central are the largest regions in the solar cables market. High solar irradiance and large solar installations are expected for the region's dominant position during the forecast period. The region has many states that are investing in solar farms due to geography and climate conditions. The solar cables are used in utility-scale solar projects, which assist in enhancing the efficiency of solar plants and transmitting more energy. The region has several large-scale solar farms where cables are being used to increase efficiency as well as to achieve the target of energy generation. Also, with increasing interest in lowering the levelized cost of energy (LCOE) and increasing project profitability, solar cables have become viable options for the distribution and storage of solar energy.
For instance, in June 2024, India's cumulative installed rooftop solar capacity reached 11.6 GW. Gujarat, Maharashtra, Rajasthan, Kerala, and Karnataka maintained top installed capacity, many of which are from West and Central India. The residential sector has become the primary driver of new rooftop solar additions, which contributes to a rise in the demand for solar cables in the market.
Future Market Scenario (FY2026 - FY2033F)
The push towards smart grid technologies is another significant trend that drives the demand for the India solar cables market.
Government policies aimed at promoting renewable infrastructure development and electrification are set to boost the demand for solar cables in the country.
Integration of renewable energy sources in large-scale industrial applications creates the opportunity for the solar cables market to grow in the coming years.
Solar cables align with government goals regarding energy efficiency and sustainability, energy policies that drive its market in the forecast period.
Key Players Landscape and Outlook
Continuous innovation characterizes the landscape of solar cables, as the companies compete in terms of efficiency, product life, and unique features. The market outlook remains positive, owing to increased demand for the integration of renewable energy. Product launches, agreements, business expansions, collaborations, and developing technologies are projected to increase competition in the fast-paced market.
For instance, in September 2024, Finolex Cables Limited announced to launch of its new range of E-Beam irradiated LT XLPE Solar Cables, providing exceptional UV and ozone protection. The product manufactured in-house at Finolex's new state-of-the-art E-Beam facility in Pune. This development helped the company to increase its product portfolio and revenue in the coming years.
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.