Report India - Solar Cells and Light-Emitting Diodes - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Mar 1, 2025

India - Solar Cells and Light-Emitting Diodes - Market Analysis, Forecast, Size, Trends and Insights

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India: Market for Solar Cells and Light-Emitting Diodes 2025

Market Size for Solar Cells and Light-Emitting Diodes in India

The Indian market for solar cells and light-emitting diodes rose markedly to $X in 2022, increasing by 6.3% against the previous year. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.9% against 2019 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Solar Cells and Light-Emitting Diodes in India

In value terms, solar cells and light-emitting diodes production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt decline. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Solar Cells and Light-Emitting Diodes

Exports from India

Solar cells and light-emitting diodes exports from India fell to X units in 2022, shrinking by -9.5% compared with 2021. In general, exports showed a pronounced shrinkage. The growth pace was the most rapid in 2018 with an increase of 115%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, solar cells and light-emitting diodes exports declined markedly to $X in 2022. Over the period under review, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 79% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for solar cells and light-emitting diodes exports from India, accounting for a 74% share of total exports. Moreover, solar cells and light-emitting diodes exports to the United States exceeded the volume sent to the second major destination, Vietnam (X units), more than tenfold. The third position in this ranking was taken by South Africa (X units), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +25.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+80.4% per year) and South Africa (+69.2% per year).

In value terms, the United States ($X) remains the key foreign market for solar cells and light-emitting diodes exports from India, comprising 74% of total exports. The second position in the ranking was held by Vietnam ($X), with a 4% share of total exports. It was followed by South Africa, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +22.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+75.6% per year) and South Africa (+64.7% per year).

Export Prices by Country

In 2022, the average export price for solar cells and light-emitting diodes amounted to $X per unit, falling by -60.2% against the previous year. Over the period under review, the export price recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 132%. Over the period under review, the average export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per unit) and South Africa ($X per unit), while the average price for exports to Italy ($X per unit) and Turkey ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-2.6%), while the prices for the other major destinations experienced a decline.

Imports of Solar Cells and Light-Emitting Diodes

Imports into India

Solar cells and light-emitting diodes imports into India reduced to X units in 2022, waning by -7.8% on 2021. Overall, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 2,010%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, solar cells and light-emitting diodes imports surged to $X in 2022. In general, imports, however, continue to indicate significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest solar cells and light-emitting diodes supplier to India, with a 85% share of total imports. Moreover, solar cells and light-emitting diodes imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold. Singapore (X units) ranked third in terms of total imports with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +32.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+50.8% per year) and Singapore (+17.7% per year).

In value terms, China ($X) constituted the largest supplier of solar cells and light-emitting diodes to India, comprising 85% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 5.8% share of total imports. It was followed by Singapore, with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +42.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+62.5% per year) and Singapore (+26.8% per year).

Import Prices by Country

The average import price for solar cells and light-emitting diodes stood at $X per unit in 2022, rising by 264% against the previous year. In general, the import price recorded resilient growth. The most prominent rate of growth was recorded in 2014 an increase of 655% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per unit) and Hong Kong SAR ($X per unit), while the price for Singapore ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The United States remains the largest solar cells and light-emitting diodes consuming country worldwide, comprising approx. 25% of total volume. Moreover, solar cells and light-emitting diodes consumption in the United States exceeded the figures recorded by the second-largest consumer, Brazil, fourfold. The Netherlands ranked third in terms of total consumption with a 4.9% share.
The countries with the highest volumes of in 2021 were China, Thailand and Malaysia, with a combined 79% share of global production.
In value terms, China constituted the largest supplier of solar cells and light-emitting diodes to India, comprising 88% of total imports. The second position in the ranking was occupied by Hong Kong SAR, with a 6% share of total imports.
In value terms, the United States remains the key foreign market for solar cells and light-emitting diodes exports from India, comprising 78% of total exports. The second position in the ranking was occupied by Somalia, with a 4.3% share of total exports. It was followed by South Africa, with a 3.4% share.
In 2021, the average export price for solar cells and light-emitting diodes amounted to $6,246 per ton, jumping by 17% against the previous year.
The average import price for solar cells and light-emitting diodes stood at $11,536 per ton in 2021, surging by 129% against the previous year.

This report provides an in-depth analysis of the market for solar cells and light-emitting diodes in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 26112220 - Semiconductor light emitting diodes (LEDs)
  • Prodcom 26112240 - Photosensitive semiconductor devices, solar cells, photodiodes, p hoto-transistors, etc.

Country coverage:

  • India

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in India
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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