The Indian solar cells market size was calculated at USD 10.98 billion in 2025 and is predicted to increase from USD 12.47 billion in 2026 to approximately USD 39.43 billion by 2035, expanding at a CAGR of 13.67% from 2026 to 2035.
Artificial Intelligence (AI) is becoming a transformative force in the development and commercialization of solar cells. Testing various materials, developing manufacturing techniques, and predicting long-term performance would particularly take months or years, but the emergence of AI tools has since accelerated the process. In the research domain, machine learning (ML) tools analyze huge amounts of datasets, pinpointing the best performance results. 
In the manufacturing domain, integrating AI with computer vision systems enables real-time monitoring of processes and detects minor defects that can potentially compromise the whole batch.
By Material Insights
Which Material Segment Dominated the Indian Solar Cells Market?
The crystalline segment dominated the market in 2025, due to higher efficiency levels, durability, and better performance in India’s diverse climate conditions, especially in high temperatures and dust exposure. Various government-backed projects also favor crystalline technology due to its mature supply chain and cost-effective nature. Monocrystalline cells are further favored for high-utility scale solar parks and large rooftop projects. The PLI has also prioritized its production, thus creating a strong domestic manufacturing base.
The thin film segment is expected to be the fastest-growing segment in the coming years, due to their lightweight structure, flexibility, and comparatively lower material costs, making them a popular choice for new-age applications such as building-integrated photovoltaics, portable power, and small-scale residential installation processes. Their advantage lies in their ability to perform better in diffuse light and high-temperature conditions.
Why Did the BSF Segment Dominate the Indian Solar Cells Market?
The BSF segment contributed the biggest revenue share of the market in 2025, due to their low production costs, simplistic manufacturing processes, and a well-established supply chain. Several Indian companies continue to produce BSF cells in bulk, mainly because they are economical and suitable for large-scale and cost-sensitive utility projects. These types of cells are also popular in government-backed rural projects.
The HJT segment is expected to account for the highest growth in the forthcoming years, due to its ability to deliver higher efficiency, bifacial capability, and high performance in hot climates, making it attractive for premium as well as export-oriented projects. This segment continues to gain traction due to a growing interest in manufacturers and increasing research and development efforts.
How the Monocrystalline Segment Dominated the Indian Solar Cells Market?
How the Monocrystalline Segment Dominated the Indian Solar Cells Market?
The monocrystalline segment held a dominant revenue share of the market in 2025, as monocrystalline cells are produced using a single-crystal growing process, which lowers the entire unit cost and makes them more economical compared to other options. They offer high efficiency, durability, embedded energy, and lower operational costs, making them a popular option. Monocrystalline cells have a longer life span and provide space-saving benefits, further optimizing their efficiency.
The CDTE segment is expected to grow at the fastest CAGR in the coming years. This type of technology is better suited for India’s hot and humid temperatures, as these panels perform better than any other material. Additionally, it requires less material for production, which is a critical point as India aims to reduce its reliance on imported materials.
Which Installation Type Segment Led the Indian Solar Cells Market?
The utility segment led the market in 2025, due to the country’s aggressive push towards large-scale solar parks under national programs and schemes. Utility projects often benefit from economies of scale, lower costs per watt, and easier land acquisition in rural belts, thus making them attractive for both public and private investments. Various states, such as Rajasthan and Gujarat, have already become hubs for solar farms, boosting up utility scale installations.
The residential segment is expected to witness the fastest growth over the studied years. This growth is driven by decreased rooftop solar prices, supportive subsidies, net metering policies, and the rising cost of electricity in households. Increasing urbanization and the government’s push towards 40+ GW of rooftop capacity are further accelerating this segment’s growth. There are also EMI-based systems and leasing models that further increase awareness, making it accessible to middle-class households.
Recent Developments
Indian Solar Cells Market Companies
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