India Industrial Inverter Market to Cross $ 100 Million Mark by 2025
Rapid urbanization and
growing electrification to drive growth of India industrial inverter market
through 2025
According to
TechSci Research report, “India Industrial Inverter
Market By Type, By Product Type, By Capacity, By Sales
Channel, Competition, Forecast & Opportunities, 2025”, India industrial inverter market is forecast to grow to $ 102 million
by 2025 due to increasing demand for standby sources of power across industrial
and commercial applications coupled with growing urbanization and rising demand
and supply gap of electricity. However, the COVID-19 pandemic is expected to
have a significant negative impact on the industrial inverter market in 2020.
Also, 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, and region. 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 and will dominate the market during
forecast period on account of their higher 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 deliver a higher output as
compared to the single-phase inverters.
The country’s South
region is anticipated to continue its market dominance over the next five
years, followed by South, North, West and East regions. 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, and Uniline Energy Systems Private
Limited are some of the leading players operating in India industrial inverter market.
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“India industrial
inverters market is anticipated to grow at a steady pace over the next five
years. However, the market will see a decline in demand due to the COVID-19
pandemic in the near term. Nevertheless, favorable factors such as widening demand
and supply gap of electricity, 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, 2025” 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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