Rising
smart home market and power shortage concern in country has pull the demand of
Power inverter market to support residential energy storage: Bonafide Research
smart home market and power shortage concern in country has pull the demand of
Power inverter market to support residential energy storage: Bonafide Research
"In last few years, smart home
market has gain colossal momentum in India. Increasing awareness of smart homes
among users is key growth driver for smart home and power back up industry. The
awareness is high in metros but slightly lower in non-metros. On other hands,
Power shortage concerns in country have pulled the demand of power inverters in
tier-II and tier III cities."
market has gain colossal momentum in India. Increasing awareness of smart homes
among users is key growth driver for smart home and power back up industry. The
awareness is high in metros but slightly lower in non-metros. On other hands,
Power shortage concerns in country have pulled the demand of power inverters in
tier-II and tier III cities."
India is the world’s third-largest
producer of electricity, after China and the US. Even as demand grows some 10%
a year, the country is on track to produce more power than it consumes. Still, power
outages are a way of life for the average Indian. Many Indians have limited or
no access to electricity. On
other hand, increasing disposable income is the primary factor that has enables
people to consider loT based devices to make their homes smart with complete
power back up solution.
producer of electricity, after China and the US. Even as demand grows some 10%
a year, the country is on track to produce more power than it consumes. Still, power
outages are a way of life for the average Indian. Many Indians have limited or
no access to electricity. On
other hand, increasing disposable income is the primary factor that has enables
people to consider loT based devices to make their homes smart with complete
power back up solution.
According
to recently published report of Bonafide Research "India Power Inverter Market Outlook, 2023" India power
inverters market is expected to grow with a CAGR of more than 8.5 % from
2012-17. The extending procuring vitality of consumer and what's more openness
of unassuming varieties has been a basic factor towards the advancement of power
inverter exhibit in India. Initially, inverters were used tier-1 cities to
control basic electronic kinds of apparatus, while the necessity of Indian
customers has changed today. Inverters are at present used to give support
vitality to work regions, ACs, and other family machines. Aside from
residential, an enduring interest has been contributed by the industrial,
commercial, and small enterprises. Furthermore, the India Power inverter
advertises is divided with various chaotic players offering sub-standard items.
to recently published report of Bonafide Research "India Power Inverter Market Outlook, 2023" India power
inverters market is expected to grow with a CAGR of more than 8.5 % from
2012-17. The extending procuring vitality of consumer and what's more openness
of unassuming varieties has been a basic factor towards the advancement of power
inverter exhibit in India. Initially, inverters were used tier-1 cities to
control basic electronic kinds of apparatus, while the necessity of Indian
customers has changed today. Inverters are at present used to give support
vitality to work regions, ACs, and other family machines. Aside from
residential, an enduring interest has been contributed by the industrial,
commercial, and small enterprises. Furthermore, the India Power inverter
advertises is divided with various chaotic players offering sub-standard items.
The
penetration of inverters in rural areas has mainly been facilitated by rising
electrification initiatives of the government. Additionally, the rising
standard of living of Indian consumers, growing awareness of smart homes has
acted as a catalyst behind the increasing sales of inverters in India in
semi-urban and rural parts of the nation. The market has witnessed huge demand
of power inverters from north and south region.
penetration of inverters in rural areas has mainly been facilitated by rising
electrification initiatives of the government. Additionally, the rising
standard of living of Indian consumers, growing awareness of smart homes has
acted as a catalyst behind the increasing sales of inverters in India in
semi-urban and rural parts of the nation. The market has witnessed huge demand
of power inverters from north and south region.
Power
inverter market has an immense potential taking into consideration the power
shortage in India, increasing demand from industries and unplanned power cuts.
A shift towards better quality and reliable products at competitive prices will
lead to technology innovations as well as the need to conserve energy will
drive manufacturing companies to produces efficient products. Expansion of
distribution and service network will supplement the growth of the market.
inverter market has an immense potential taking into consideration the power
shortage in India, increasing demand from industries and unplanned power cuts.
A shift towards better quality and reliable products at competitive prices will
lead to technology innovations as well as the need to conserve energy will
drive manufacturing companies to produces efficient products. Expansion of
distribution and service network will supplement the growth of the market.
Major companies operating in the power
inverter market of India are Swelect Energy Systems Limited, Luminous Power
Technologies Private Limited, Microtek International private limited, Su-Kam
Power Systems Limited, Genus innovation Limited, Consul Neowatt Power solutions
Private Limited, Tritronics India Private Limited, True power international
Limited, Uniline Energy Systems Private Limited, Arise India Limited.
inverter market of India are Swelect Energy Systems Limited, Luminous Power
Technologies Private Limited, Microtek International private limited, Su-Kam
Power Systems Limited, Genus innovation Limited, Consul Neowatt Power solutions
Private Limited, Tritronics India Private Limited, True power international
Limited, Uniline Energy Systems Private Limited, Arise India Limited.
Report: India Power inverter Market Outlook, 2023
Base
Year: 2017
Year: 2017
Estimated
Year: 2018, Forecast Year: 2023
Year: 2018, Forecast Year: 2023
Pages: 111, Figures:
21, Tables: 19
21, Tables: 19
Contact Us
Bonafide Research
& Marketing Pvt. Ltd.
& Marketing Pvt. Ltd.
Steven Thomas –
Sales & Marketing Manager
Sales & Marketing Manager
Telephone: +91-7878231309
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