Report Overview

India Solar Canopy Carport Market – Industry Trends & Forecast Report, 2030

The India Solar Canopy Carport Market size was estimated at USD 176.83 million in 2023. During the forecast period between 2024 and 2030, the India Solar Canopy Carport Market size is projected to grow at a CAGR of 7.67% reaching a value of USD 389.02 million by 2030. The India solar canopy carport market is experiencing substantial growth, primarily fueled by the due to government initiatives to promote renewable energy sources, increasing awareness of environmental issues, and the need for sustainable practices. The India Solar Canopy Carport market is witnessing significant growth, propelled by robust government initiatives aimed at advancing renewable energy sources. The Indian government, in line with its ambitious targets for solar power generation, actively promotes the adoption of solar canopies and carports through various schemes and subsidies. Notably, the allocation of a substantial 39,600 MW of domestic Solar PV module manufacturing capacity to 11 companies under the Production Linked Incentive Scheme for High-Efficiency Solar PV Modules (Tranche-II), with a total expenditure of Rs. 14,007 Crores, exemplifies the government's commitment to fostering a helpful environment for solar energy solutions. This strategic allocation of resources plays a pivotal role in driving the growth of the solar canopy carport market, encouraging both manufacturers and consumers to actively participate in the transition towards sustainable energy practices.

Solar Canopy Carport – Overview

A solar canopy carport is a structure that serves two purposes: it shelters vehicles and generates electricity from the sun. It is essentially a covered parking lot with a canopy composed of solar photovoltaic (PV) panels. This innovative design makes effective use of space by integrating parking with solar energy generation. Solar canopies are also being integrated with electric vehicle (EV) chargers, allowing electric vehicles to be charged using solar energy. The terms "solar carport" and "solar canopy" are frequently used interchangeably since they describe comparable constructions with solar panels serving as the roof or canopy. Solar canopies are becoming more popular in both residential and business sectors due to their ability to provide shade and generate electricity.

India Solar Canopy Carport Market

Growth Drivers

Growing demand for electric vehicles (EVs)

The India solar canopy carport market is poised for significant growth in the coming years, primarily fueled by the surging demand for electric vehicles (EVs) in the country. According to data from 2023, as provided by Invest India in the Economic Survey, it is projected that India's domestic electric vehicle market will experience a remarkable 49 percent compound annual growth rate (CAGR) from 2022 to 2030. The forecast suggests that by 2030, the annual sales of electric vehicles in India will reach a remarkable 10 million units. This increasing demand for EVs presents a unique opportunity for the solar canopy carport market to flourish. As more and more consumers shift towards electric vehicles to embrace sustainable transportation options, the need for robust charging infrastructure becomes paramount. Solar canopy carports offer an innovative solution by combining electric vehicle charging stations with solar panels, harnessing renewable energy to power the growing fleet of electric vehicles. This synergy aligns with the broader sustainability goals, providing a dual benefit of reducing carbon emissions from transportation and promoting clean energy utilization. The anticipated surge in electric vehicle adoption, driven by the ambitious growth projections, creates a favorable environment for the expansion of the India solar canopy carport market.

Challenges

Lack of awareness regarding solar canopy carport

The growing India solar canopy carport market faces a formidable challenge due to a lack of awareness among potential stakeholders. Despite the numerous benefits offered by solar canopy carports, such as sustainable energy generation, reduced carbon footprint, and the dual functionality of providing shade for parked vehicles while harnessing solar power, a significant portion of the Indian population remains unaware of this innovative solution. The dearth of awareness can be attributed to a variety of factors, including limited promotional efforts, insufficient educational initiatives, and a general lack of understanding about the long-term advantages of integrating solar canopy carports into urban infrastructure. This lack of awareness not only hampers the widespread adoption of solar canopy carports in India but also impedes the growth prospects of the India solar canopy carport market.

Impact of Escalating Geopolitical Tensions on India Solar Canopy Carport Market

The escalating geopolitical tensions have the potential to significantly impact the India solar canopy carport market in various ways. One major concern lies in the disruption of supply chains, particularly with China dominating polysilicon production, affecting European module manufacturers reliant on imports from China. Despite this challenge, India has sustained a remarkable 23% annual growth rate in the solar power sector and aims to continue this trajectory, targeting 500 GW of non-fossil fuel electricity capacity by 2030. However, the production of solar panels involves minerals concentrated in geopolitically sensitive regions, leading to potential price fluctuations for raw materials, thereby impacting manufacturing costs and carport system prices. Additionally, the geopolitical uncertainties may pose hurdles to foreign direct investment (FDI) crucial for the Indian solar sector's growth. The risk-averse environment could impact infrastructure and investment landscapes. Government policies supporting clean energy initiatives may also be affected as attention and resources get diverted amid geopolitical tensions. Moreover, global economic uncertainties may trigger currency volatility, making imported solar panels more expensive for Indian companies and potentially increasing project costs for end consumers. Nevertheless, amidst these challenges, opportunities emerge for the Indian solar canopy carport market. Geopolitical conflicts emphasizing energy security could expedite the shift towards domestic renewable sources like solar, offering growth prospects if the market successfully navigates supply chain and investment challenges.

India Solar Canopy Carport Market

Segmental Coverage

India Solar Canopy Carport Market – By Type

Based on type, the India solar canopy carport market is segmented into mono-pitch, duo-pitch, and barrel arch. The mono-pitch segment is expected to hold a significant share of the India solar canopy carport market during the forecast period owing to its owing to its inherent advantages and increasing adoption in the renewable energy sector. The mono-pitch design, characterized by a single-sloping roof, offers efficient solar exposure and facilitates optimal energy capture. This design not only maximizes energy generation but also aligns with the growing emphasis on sustainable practices in India. As the demand for solar canopy carports continues to surge, driven by the country's commitment to clean energy initiatives, the mono-pitch segment is poised to play a pivotal role in shaping the landscape of the solar canopy carport market in India.                                                                          

India Solar Canopy Carport Market – By Carport Type

Based on carport type, the India solar canopy carport market is divided into 1-row vehicle arrangement carport, 2-row single slope vehicle arrangement, and 2-row dual slope vehicle arrangement segments. The two-row dual slope vehicle arrangement is expected to hold a substantial market share due to its innovative design and efficient space utilization. This configuration not only provides sufficient shading for parked vehicles but also optimizes solar panel positioning to harness maximum sunlight for energy generation. With a focus on sustainability and renewable energy, businesses and institutions in India are increasingly adopting solar canopy carports, and the two-row dual slope arrangement emerges as a preferred choice for its ability to maintain a balance between functionality and energy efficiency. As the country continues to embrace clean energy solutions, this configuration is poised to play a pivotal role in the solar canopy carport market in India.

India Solar Canopy Carport Market – By Region

The in-depth research report on the India solar canopy carport market covers several major countries across the region: North India, South India, East India, and West India. North India region is projected to be the dominant region in the India solar canopy carport market due to the region's abundant solar resources, increasing government initiatives promoting renewable energy adoption, and a rising awareness among businesses and individuals about the benefits of solar canopy carports. The proactive approach towards sustainable energy solutions in North India, coupled with a growing demand for eco-friendly transportation alternatives, positions the region as a key driver in propelling the solar canopy carport market forward in the foreseeable future.

Competitive Landscape

Major players operating in the India Solar Canopy Carport Market include Mahindra Solarize, VIJAYSHREE STEEL INDUSTRIES, Techno Fab, and WEST-COAST ENGINEERING WORKS PVT. LTD., Ganges Internationale, Maruti Suzuki, Tata Power Solar Systems Ltd., Chaitanya Solar, Schletter, and other prominent players. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In May 2023 - The National Solar Energy Federation of India (NSEFI), India's leading solar body, announced the location of the planned solar-powered EV-charging carport project in Hauz Khas, Delhi. According to the requirements of this pilot project, Servotech will handle all aspects of the forthcoming carport, from design to fabrication to installation. This project will include two DC chargers with capacities of 15 kW and 30 kW, 12 solar panels for 540 watts, a 7 kW AC charger, a 3.3 kW AC charger, and a 10 kW on-grid inverter.

Scope of the Report

By Type

• Mono-pitch

• Duo-pitch

• Barrel Arch

By Carport Type

• 1-Row Vehicle Arrangement Carport

• 2-Row Single Slope Vehicle Arrangement

• 2-Row Dual Slope Vehicle Arrangement

By Design

• Single Column Cantilever Styles

• Two Column Styles

• Louvered Styles

By End User

• Residential

• Commercial

• Others (Including Government Agencies, Non-profit Organizations)

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Solar Canopy Carport Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing demand for electric vehicles (EVs)
         2. Increasing environmental awareness
         3. Rising electricity costs
         4. Government initiatives to promote the use of solar canopies and carports
      2. Restraints
         1. Competition from conventional sources of energy
         2. High initial investment
         3. Fluctuating solar radiation
      3. Opportunity
         1. Integration with smart grid technologies
         2. Development of innovative products
         3. Expansion into new applications
      4. Challenges
         1. Lack of awareness regarding solar canopy carport
         2. Lack of skilled labor
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Solar Canopy Carport Market: Marketing Strategies
5. India Solar Canopy Carport Market Overview
   1. Market Size & Forecast, 2019-2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Mono-pitch
         2. Duo-pitch
         3. Barrel Arch
      2. By Carport Type
         1. 1-Row Vehicle Arrangement Carport
         2. 2-Row Single Slope Vehicle Arrangement
         3. 2-Row Dual Slope Vehicle Arrangement
      3. By Design
         1. Single Column Cantilever Styles
         2. Two Column Styles
         3. Louvered Styles
      4. By End User
         1. Residential
         2. Commercial
         3. Others (Including Government Agencies, Non-profit Organizations)
      5. By Region
         1. North India
         2. South India
         3. East India
         4. West India
6. North India Solar Canopy Carport Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Carport Type
      3. By Design
      4. By End User
7. South India Solar Canopy Carport Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Carport Type
      3. By Design
      4. By End User
8. East India Solar Canopy Carport Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Carport Type
      3. By Design
      4. By End User
9. West India Solar Canopy Carport Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Carport Type
      3. By Design
      4. By End User
10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Solar Canopy Carport Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operation Channel Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
11. India Solar Canopy Carport Market: Import & Export
12. Impact of Geopolitical Tension in India Solar Canopy Carport Market
13. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Mahindra Solarize
    2. VIJAYSHREE STEEL INDUSTRIES
    3. Techno Fab
    4. WEST-COAST ENGINEERING WORKS PVT. LTD.
    5. Ganges Internationale
    6. Maruti Suzuki
    7. Tata Power Solar Systems Ltd.
    8. Chaitanya Solar
    9. Schletter
    10. Other Prominent Players
14. Key Strategic Recommendations
15. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1       India Solar Canopy Carport Market Segmentation            

Figure 2       India Solar Canopy Carport Market Value Chain Analysis  

Figure 3       Company Market Share Analysis, 2023                                               

Figure 4       India Solar Canopy Carport Market Size, By Value (USD Million), 2019-2030

Figure 5       India Solar Canopy Carport Market Share, By Type, By Value (USD Million) 2019-2030

Figure 6       India Solar Canopy Carport Market Share, By Carport Type, By Value (USD Million) 2019-2030

Figure 7       India Solar Canopy Carport Market Share, By Design, By Value (USD Million) 2019-2030

Figure 8       India Solar Canopy Carport Market Share, By End User, By Value (USD Million) 2019-2030

Figure 9       India Solar Canopy Carport Market Share, By Region, By Value (USD Million) 2019-2030

Figure 10     North India Solar Canopy Carport Market Size, By Value (USD Million), 2019-2030

Figure 11     North India Solar Canopy Carport Market Share, By Type, By Value (USD Million) 2019-2030

Figure 12     North India Solar Canopy Carport Market Share, By Carport Type, By Value (USD Million) 2019-2030

Figure 13     North India Solar Canopy Carport Market Share, By Design, By Value (USD Million) 2019-2030

Figure 14     North India Solar Canopy Carport Market Share, By End User, By Value (USD Million) 2019-2030

Figure 15     South India Solar Canopy Carport Market Size, By Value (USD Million), 2019-2030

Figure 16     South India Solar Canopy Carport Market Share, By Type, By Value (USD Million) 2019-2030

Figure 17     South India Solar Canopy Carport Market Share, By Carport Type, By Value (USD Million) 2019-2030

Figure 18     South India Solar Canopy Carport Market Share, By Design, By Value (USD Million) 2019-2030

Figure 19     South India Solar Canopy Carport Market Share, By End User, By Value (USD Million) 2019-2030

Figure 20     East India Solar Canopy Carport Market Size, By Value (USD Million), 2019-2030

Figure 21     East India Solar Canopy Carport Market Share, By Type, By Value (USD Million) 2019-2030

Figure 22     East India Solar Canopy Carport Market Share, By Carport Type, By Value (USD Million) 2019-2030

Figure 23     East India Solar Canopy Carport Market Share, By Design, By Value (USD Million) 2019-2030

Figure 24     East India Solar Canopy Carport Market Share, By End User, By Value (USD Million) 2019-2030

Figure 25     West India Solar Canopy Carport Market Size, By Value (USD Million), 2019-2030

Figure 26     West India Solar Canopy Carport Market Share, By Type, By Value (USD Million) 2019-2030

Figure 27     West India Solar Canopy Carport Market Share, By Carport Type, By Value (USD Million) 2019-2030

Figure 28     West India Solar Canopy Carport Market Share, By Design, By Value (USD Million) 2019-2030

Figure 29     West India Solar Canopy Carport Market Share, By End User, By Value (USD Million) 2019-2030                                      

List of Tables      

Table 1        India Solar Canopy Carport Market Size, By Value (USD Million), 2019-2030

Table 2        India Solar Canopy Carport Market Share, By Type, By Value (USD Million) 2019-2030

Table 3        India Solar Canopy Carport Market Share, By Carport Type, By Value (USD Million) 2019-2030

Table 4        India Solar Canopy Carport Market Share, By Design, By Value (USD Million) 2019-2030

Table 5        India Solar Canopy Carport Market Share, By End User, By Value (USD Million) 2019-2030

Table 6        India Solar Canopy Carport Market Share, By Region, By Value (USD Million) 2019-2030

Table 7        North India Solar Canopy Carport Market Size, By Value (USD Million), 2019-2030

Table 8        North India Solar Canopy Carport Market Share, By Type, By Value (USD Million) 2019-2030

Table 9        North India Solar Canopy Carport Market Share, By Carport Type, By Value (USD Million) 2019-2030

Table 10      North India Solar Canopy Carport Market Share, By Design, By Value (USD Million) 2019-2030

Table 11      North India Solar Canopy Carport Market Share, By End User, By Value (USD Million) 2019-2030

Table 12      South India Solar Canopy Carport Market Size, By Value (USD Million), 2019-2030

Table 13      South India Solar Canopy Carport Market Share, By Type, By Value (USD Million) 2019-2030

Table 14      South India Solar Canopy Carport Market Share, By Carport Type, By Value (USD Million) 2019-2030

Table 15      South India Solar Canopy Carport Market Share, By Design, By Value (USD Million) 2019-2030

Table 16      South India Solar Canopy Carport Market Share, By End User, By Value (USD Million) 2019-2030

Table 17      East India Solar Canopy Carport Market Size, By Value (USD Million), 2019-2030

Table 18      East India Solar Canopy Carport Market Share, By Type, By Value (USD Million) 2019-2030

Table 19      East India Solar Canopy Carport Market Share, By Carport Type, By Value (USD Million) 2019-2030

Table 20      East India Solar Canopy Carport Market Share, By Design, By Value (USD Million) 2019-2030

Table 21      East India Solar Canopy Carport Market Share, By End User, By Value (USD Million) 2019-2030

Table 22      West India Solar Canopy Carport Market Size, By Value (USD Million), 2019-2030

Table 23      West India Solar Canopy Carport Market Share, By Type, By Value (USD Million) 2019-2030

Table 24      West India Solar Canopy Carport Market Share, By Carport Type, By Value (USD Million) 2019-2030

Table 25      West India Solar Canopy Carport Market Share, By Design, By Value (USD Million) 2019-2030

Table 26      West India Solar Canopy Carport Market Share, By End User, By Value (USD Million) 2019-2030                                      

Table 27      Mahindra Solarize Company Overview                    

Table 28      Mahindra Solarize Financial Overview                    

Table 29      VIJAYSHREE STEEL INDUSTRIES Company Overview                          

Table 30      VIJAYSHREE STEEL INDUSTRIES Financial Overview                           

Table 31      Techno Fab Company Overview                   

Table 32      Techno Fab Financial Overview                    

Table 33      WEST-COAST ENGINEERING WORKS PVT. LTD. Company Overview

Table 34      WEST-COAST ENGINEERING WORKS PVT. LTD. Financial Overview

Table 35      Ganges Internationale Company Overview                       

Table 36      Ganges Internationale Financial Overview                        

Table 37      Maruti Suzuki Company Overview                          

Table 38      Maruti Suzuki Financial Overview                           

Table 39      Tata Power Solar Systems Ltd. Company Overview                    

Table 40      Tata Power Solar Systems Ltd. Financial Overview                     

Table 41      Chaitanya Solar Company Overview                       

Table 42      Chaitanya Solar Financial Overview                       

Table 43      Schletter Company Overview                       

Table 44      Schletter Financial Overview