Press Release

India Industrial Inverter Market to Grow at Steady CAGR During Forecast Period

Rapid urbanization and growing electrification to drive growth of India industrial inverter market through 2024

According to TechSci Research report, India Industrial Inverter Market By Type, By Product Type, By Capacity, By Sales Channel, Competition, Forecast & Opportunities, 2024, India industrial inverter market is expected to grow at a steady CAGR during the forecast period owing to the rising construction activities on account of smart cities and infrastructure development across various parts of the country. Additionally, increasing purchasing power of Indian consumers is further propelling the market. However, low-battery lifespan and high maintenance cost are likely to hamper the growth of market during forecast period. Additionally, growing adoption of solar energy and other forms of renewable energy can further restrict the growth of market.

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India industrial inverter market is segmented based on type, product type, capacity, sales channel, region and company. Based on type, the market can be fragmented into pure sine wave, modified sine wave and square wave. The pure sine wave segment is expected to grow at a significant pace during forecast period on account of their reliability and efficiency. Additionally, these can be adjusted according to the purpose or power requirements since there are several types of pure sine wave inverters available. Based on product type, the market can be divided into single phase and three phase. The three-phase segment dominates the market attributable to the fact that they deliver constant power and give a higher output as compared to the single-phase inverters.

Luminous Power Technologies Pvt. Ltd., V-Guard Industries, Microtek International Private Limited, Su-Kam Power Systems Limited, Exide Industries Limited, Amara Raja Batteries Limited, Genus Innovation Limited, Arise India Limited, Consul Neowatt Power Solutions Private Limited, Uniline Energy Systems Private Limited and others are some of the leading players operating in India industrial inverter market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“India industrial inverters market is anticipated to grow at a steady pace during the forecast period. Factors like increasing demand and supply gap, lack of an efficient power grid, rising industrial spending, increasing R&D, change in attitude of consumers, among others are anticipated to propel demand for industrial inverters across the country over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Industrial Inverter Market By Type, By Product Type, By Capacity, By Sales Channel, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of India industrial inverter market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India industrial inverter market.

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