Luminous Power Technologies to Continue its Dominance in India Inverter Market through 2023
Expanding residential housing
sector, Make in India initiative and increasing demand from tier 2 and tier 3
cities to fuel India inverter market during the forecast period
According to TechSci
Research report, “India Inverter Market
By Type, By Application, By Capacity, Competition Forecast & Opportunities,
2013 - 2023’’, India inverter market is projected to cross
$ 720 million on account of growing residential housing
sector and the government’s ‘Make
in India’ initiative. Moreover,
increasing demand for inverters from tier 2 and tier 3 cities is
further likely to steer growth in India inverter market over the next five
years. Additionally, implementation of GST is expected to aid the
organized players to further increase their share in India inverter market
through 2023. Luminous Power
Technologies Pvt. Ltd. accounted for the largest share in India inverter market
in 2017, and the company is likely to maintain its dominance through 2023 as
well. Luminous Power Technologies Pvt. Ltd. is followed by V-Guard
Industries, Microtek International Private Limited, and Su-Kam Power Systems
Limited.
Browse 12 market
data Tables and 42 Figures spread through 101
Pages and an in-depth TOC on “India Inverter Market"
https://www.techsciresearch.com/report/india-inverter-market/2880.html
Among
different inverter types, India inverter market is dominated by Pure Sine Wave inverters
as these inverters are more efficient and are widely used in industrial and
commercial sectors. Residential sector had the largest application share in
India inverter market in 2017, and the segment is likely to maintain its
dominance throughout the forecast period on the back growing residential housing
sector in the country. A large demand for inverters emanates from East India which
can be attributed to frequent power cuts in the region. As of 2018, East
India’s energy availability stood at 149,871 MU per year and its energy
requirement stood at 150,151 MU per year.
“Technological developments for the use
of intelligent hybrid inverters in energy deficit regions in India is likely to
provide better energy storage solutions. Moreover, initiatives by government to
increase electrification rate in the country would further steer growth in the
India inverter market. Additionally, booming
residential sector is likely to contribute to the rising demand for inverters,
across the country in the coming years.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
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“India Inverter
Market By Type, By Application, By Capacity, Competition Forecast & Opportunities,
2013 - 2023” has
evaluated the future growth potential of India inverters market and provides
statistics and 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 decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India inverter market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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