India Inverters Market is expected to reach INR 43,200.7 million by FY 2019
India UPS Market is expected to reach INR 82,376.3 million by FY2019
Future Growth of India Inverters and UPS market is expected to be led by low availability of high quality power, expansion of industries and increasing income levels of consumers.
The market leader, Luminous Power is expected to maintain focus on expanding its battery manufacturing capacity and strengthen its presence in the solar power backup space.
Ken Research announced its latest publication on India Inverters and UPS Market Outlook to 2019-Driven by Power Deficit and Industrial Expansion which provides a comprehensive analysis of the Inverters and UPS systems market in India. The report covers various aspects such as market size of India Inverters and UPS market, segmentation on the basis of technology, market structure, end-users, capacity, region and volume of exports and imports for Inverters and UPS systems. The report is useful for Inverters and UPS systems manufacturers, distributors, retail chains, power backup products machinery manufacturers and new players venturing in the market.
The Inverters and UPS market in India has witnessed a growth in recent years on account of rising demand fueled by the demand and supply gap in electric power supply, expansion of industries and rising income levels of consumers. The market is highly fragmented in India, however it is dominated by large organized players such as Luminous Power, Mictrotek International and Su-Kam Power, which offer a wide range of home and industrial Inverters and UPS systems. The Indian Inverters market revenues have grown at a CAGR of 8.9% from FY2010-FY2014 and the UPS market revenues have 9.9% from FY2010-FY2014.
According to the research report, India Inverters market is projected to grow at an appreciable CAGR of 9.4% by FY2019. With increasing disposable incomes of households, the sales of electrical equipments like ACs, Refrigerators, Televisions and Microwaves is expected to increase and inadequate power supply will drive consumers to opt for inverters. Indian UPS market is projected to scale new heights, expanding at a CAGR of 9.8% in FY2014-FY2019. This is due to shortage of high quality power, expansion of IT/ITE, Banking, Pharma and SMB segments and increasing income levels of consumers.
While power shortage, increase in income levels and expansion of industries will result in increased spending on power backup products in India, competition from unorganized sector, lack of consumer awareness, decline in desktop sales and high import duties are few of the major challenges which will affect the growth of this industry in the future, according to the Research Associate, Ken Research.?
