India Solar Powered Petrol Pump Market

India Solar Powered Petrol Pump Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 8% during the forecast period.

India Solar Powered Petrol Pump Market

The rise in electricity costs and fuel costs will drive the solar-powered petrol pump market. The only solution to fight this high rise in fuel and electricity costs is to adopt renewable sources of power like solar. Indian government gives a 30% subsidy on solar installation so the initial cost of the solar solution goes down marginally. The solar system’s panels require open space at the pump to be installed.

Grid-tie systems offer 98% efficiency in deriving solar power and eliminate the use of batteries thereby saving space and costs. Easy option of the grid the use of batteries since most petrol pumps offer only day time operations, grid-tie solar systems become easy options for these pumps. Petrol pumps can use any of the 2 types of solar grids used for solar set up namely On-Grid and Off-Grid. Grid setup is best suited for petrol pumps as it offers maximum advantages.

By state, Punjab dominated India’s solar-powered petrol pump market followed by Maharashtra. Maharashtra to grow at a faster pace. Frequent power cuts in Andhra Pradesh and Maharashtra started switching to solar energy. IOCL which owns 24,000 of the 50,000-odd petrol pumps in the country would increase the number of solar-powered petrol pumps from 2,000 to 10,000 in the forecast.

The objective of the report is to present a comprehensive analysis of the India Solar Powered Petrol Pump Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Application. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Application on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding India Solar Powered Petrol Pump Market dynamics, structure by analyzing the market segments and project the India Solar Powered Petrol Pump Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the India Solar Powered Petrol Pump Market make the report investor’s guide.

For more information to visit :https://www.maximizemarketresearch.com/market-report/india-solar-powered-petrol-pump-market/20796/

Scope of Solar Powered Petrol Pump Market:

India Solar Powered Petrol Pump Market, by Connectivity:

• On- Grid

• Off- Grid

India Solar Powered Petrol Pump Market, By State:

• Tamil Nadu

• Karnataka

• Uttar Pradesh

• Gujarat

• Andhra Pradesh

• RajasthaN

• West Bengal

• Haryana

• Punjab

• Madhya Pradesh

• Odisha

• Delhi

• Chhattisgarh

• Kerala

• Bihar

• Maharashtra

Key Players Operating In India Solar Powered Petrol Pump Market:

• 3dot Energy

• 3en Clean Tech Pvt. Ltd.

• Parallels Techno-Consultants Pvt. Ltd

• A.S.Infra Tech

• A&T Power Systems Pvt Ltd

• A1 Power Solutions

• AA Solar India

• Aarinas Power & Renewable Energy

• Aaron Power Solutions

• Aarushee Solar Energy LLP

• Aatap Energy

• Aavishkar Solar Technologies LLP

• Aay Pee Wind Solar Systems

• AB Energía Solutions Pvt. Ltd.

• AB-HI Solar Pvt. Ltd

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[Dhruv Bindhani]

The provided text is an excerpt from a market research report on the "India Solar Powered Petrol Pump Market." It gives a snapshot of the market's valuation, growth projections, key drivers, technological preferences, leading states, and the future outlook.

Key Information Presented:

• Market Valuation & Growth: The market was valued at US$ XX Bn in 2018 and is projected to reach US$ XX Bn by 2026, with a Compound Annual Growth Rate (CAGR) of 8% during the forecast period. (Note: The "XX" indicates the actual values are not provided in this snippet).
• Market Drivers:
  • Rising electricity and fuel costs are pushing for the adoption of renewable energy like solar.
  • The Indian government offers a 30% subsidy on solar installations, reducing the initial cost.
  • Solar panel systems require open space for installation at petrol pumps.
• Technology Preference:
  • Grid-tie systems are preferred due to 98% efficiency and the elimination of batteries (saving space and cost).
  • Since most petrol pumps operate during the daytime, grid-tie systems are an "easy option."
  • Petrol pumps can choose between On-Grid and Off-Grid setups, with Grid setup (implicitly, grid-tie or on-grid) offering maximum advantages.
• Regional Dominance & Growth:
  • Punjab dominated the market in terms of solar-powered petrol pumps, followed by Maharashtra.
  • Maharashtra is expected to grow at a faster pace due to frequent power cuts, leading to a switch to solar energy in states like Andhra Pradesh and Maharashtra.
• Major Player Initiatives:
  • IOCL (Indian Oil Corporation Ltd.), which owns nearly half of India's petrol pumps (24,000 out of 50,000), plans to significantly increase its solar-powered petrol pumps from 2,000 to 10,000 within the forecast period.
• Report Objectives & Scope:
  • The report aims to provide a comprehensive analysis for all industry stakeholders, covering past, current, and forecasted market size and trends.
  • It includes PORTER, SVOR, PESTEL analysis, examining micro-economic factors and external/internal factors affecting the business.
  • It helps understand market dynamics, structure by segments, and project market size.
  • It offers a competitive analysis of key players based on type, price, financials, product portfolio, growth strategies, and regional presence.
  • Connectivity Segments: On-Grid, Off-Grid.
  • State Segments: A comprehensive list of 16 Indian states.
• Key Players: A long list of companies operating in the India Solar Powered Petrol Pump Market is provided, indicating a fragmented or emerging market with many participants.
• Customization & Contact: The report is offered by Maximize Market Research, with options for free customization and contact information for inquiries.

Analysis of the Content:

The text provides a concise and informative overview for potential buyers of the market research report. It clearly articulates the "why" (drivers), "how" (technology), and "who" (key players, regional leaders, government role) of the India Solar Powered Petrol Pump market. The emphasis on grid-tie systems and the significant expansion plans by IOCL are notable highlights. The detailed scope and methodology sections reassure the reader about the report's depth.

The main limitation in this provided snippet is the masked "US$ XX Bn" figures, which would be crucial data points for a full understanding of the market's actual value. The 30% government subsidy mentioned aligns with general government incentives for solar adoption in India, although specific schemes and their applicability to commercial entities like petrol pumps would require a more in-depth look at current policies (as government schemes like PM Surya Ghar Muft Bijli Yojana are primarily for residential rooftop solar, while other schemes and state-level incentives exist for businesses). The IOCL expansion goal of 10,000 solar pumps is a significant commitment, underlining the potential of this market segment.