According to the report, the India power inverter market is projected to grow at a CAGR of 14.6% between 2023 and 2028. Aided by the growing penetration of smart power inverters and rising exploration of solar energy in India, the market is expected to grow significantly by 2028.
Power inverters are devices that convert direct current (DC) into alternating current (AC) and are commonly used in India to ensure consistent power supply, given the frequent power outages in the country. They play an essential role in a variety of areas, such as residential, commercial, and industrial sectors, proving invaluable during power failures. Besides their fundamental role in power conversion, power inverters also come equipped with features like overload protection, temperature control, and short circuit protection, enhancing their utility and safety.
The escalating demand for a continuous power supply in India is driving the India power inverter market growth. The country's expanding population and rapid urbanisation have led to an increase in power consumption, highlighting the need for power inverters to mitigate the inconvenience caused by power outages. Moreover, the escalating demand for electronics and appliances that require steady power supplies, such as refrigerators, air conditioners, and computers, has also contributed to the surge in demand for power inverters.
The expanding applications of power inverters across various sectors is significantly contributing to the India power inverter market expansion. The industrial sector uses power inverters to ensure the smooth operation of heavy machinery and equipment during power failures. Power inverters are also extensively used in commercial spaces like shopping malls, offices, and hospitals, as these establishments require a consistent power supply for their operations. Furthermore, the residential sector uses power inverters to keep appliances and devices functioning during power cuts, enhancing comfort and convenience.
Additionally, the increasing adoption of solar power systems in India is increasing the India power inverter market demand. Power inverters are integral components in solar power systems, converting the DC produced by solar panels into AC used by household appliances and grids. With the rising awareness of renewable energy and the government's encouragement for solar power utilisation, the demand for power inverters in solar applications is anticipated to rise significantly.
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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Power inverters are devices that convert direct current (DC) into alternating current (AC) and are commonly used in India to ensure consistent power supply, given the frequent power outages in the country. They play an essential role in a variety of areas, such as residential, commercial, and industrial sectors, proving invaluable during power failures. Besides their fundamental role in power conversion, power inverters also come equipped with features like overload protection, temperature control, and short circuit protection, enhancing their utility and safety.
The escalating demand for a continuous power supply in India is driving the India power inverter market growth. The country's expanding population and rapid urbanisation have led to an increase in power consumption, highlighting the need for power inverters to mitigate the inconvenience caused by power outages. Moreover, the escalating demand for electronics and appliances that require steady power supplies, such as refrigerators, air conditioners, and computers, has also contributed to the surge in demand for power inverters.
The expanding applications of power inverters across various sectors is significantly contributing to the India power inverter market expansion. The industrial sector uses power inverters to ensure the smooth operation of heavy machinery and equipment during power failures. Power inverters are also extensively used in commercial spaces like shopping malls, offices, and hospitals, as these establishments require a consistent power supply for their operations. Furthermore, the residential sector uses power inverters to keep appliances and devices functioning during power cuts, enhancing comfort and convenience.
Additionally, the increasing adoption of solar power systems in India is increasing the India power inverter market demand. Power inverters are integral components in solar power systems, converting the DC produced by solar panels into AC used by household appliances and grids. With the rising awareness of renewable energy and the government's encouragement for solar power utilisation, the demand for power inverters in solar applications is anticipated to rise significantly.
Market Segmentation
The market can be divided based on rating, application, and end use.Market Breakup by Rating
- < 5KW
- 5kW to 100kW
- 100kW to 500kW
- Above 500kW
Market Breakup by Application
- Motor Drives
- UPS
- Rail Traction
- Wind Turbines
- EVs/HEVs
- Solar PVs
- Others
Market Breakup by End Use
- Utilities
- Residential
- Commercial and Industrial
- Automotive and Transportation
- Others
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the India power inverter companies.Some of the major key players explored in the report are as follows:
- ABB Ltd.
- Huawei Technologies Co., Ltd.
- Delta Electronics, Inc.
- SMA Solar India Private Limited
- Genus Power Infrastructures Ltd
- SolarEdge Technologies Inc.
- Others
About the Analyst
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.These high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions6 Market Snapshot10 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
7 India Power Inverter Market
8 Market Dynamics
9 Competitive Landscape
List of Figures and Tables
Companies Mentioned
- ABB Ltd.
- Huawei Technologies Co. Ltd.
- Delta Electronics Inc. S.A.Solar India Private Limited
- Genus Power Infrastructures Ltd
- SolarEdge Technologies Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 180 |
| Published | October 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 5.29 Billion |
| Forecasted Market Value ( USD | $ 8.52 Billion |
| Compound Annual Growth Rate | 10.0% |
| Regions Covered | India |
| No. of Companies Mentioned | 5 |
