Low Power (Below 4 kW) to Lead India DC Power Systems Market till 2024
Growing preference for DC power source over AC power
and rising demand for data centers coupled with government policies
facilitating the adoption of solar power and battery energy storage solutions
to drive India DC power systems market through 2024
According
to TechSci Research report, “India
DC Power Systems Market By Type, By End User, Competition, Forecast &
Opportunities, 2014 – 2024’’, DC power systems market in
India is forecast to reach $ 260
million by 2024, driven by growing preference for DC power systems over AC power systems, backed by its reliability and
better operating efficiency. Moreover, government initiatives and schemes such
as subsidies and incentives for decentralized and off-grid applications of
solar power would also boost the demand for DC power systems. The Ministry of New and Renewable Energy
(MNRE) gives subsidies through National Bank for Agriculture & Rural Development
(NABARD) for the installation of solar power products such as solar rooftop PV,
solar pumps and solar lighting systems.
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Government
of India has various policies and schemes for easy and effective implementation
of solar power in the country such as Rooftop Solar Programme, Off-grid and
Decentralized SPV systems, and Kisan Urja Suraksha Evam Utthaan Mahaabhiyan
(KUSUM) schemes, which would require the usage of DC power systems. Low Power (Below
4 kW) DC Power Systems segment accounted for the largest market share in 2018
and is likely to maintain its dominance in coming years, on account of
increasing application of lower rating of DC power systems in industrial,
commercial and telecom sectors. Some
of the major market players are
Siemens Ltd., Vertiv Energy Pvt. Ltd., Delta Electronics India Pvt Ltd., Huawei
Technologies Co., Ltd., Schneider Electric India Private Limited, ABB Ltd. and
Exicom Tele-Systems Limited.
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“With huge
population base, increasing internet penetration and expanding telecom
infrastructure in India, need for data centers is growing tremendously. Moreover, rising environmental concerns are prompting
the Central Pollution Control Board to lay down guidelines assisting in the gradual
phasing out of diesel generators and shift to battery energy storage solutions
in industries, particularly in telecom sector. This would spur the demand for
DC power systems in the country.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India
DC Power Systems Market By Type, By End User, Competition, Forecast &
Opportunities, 2014 – 2024’’ has evaluated the future growth potential of India DC power
systems 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 decisions.
Besides, the report also identifies and analyses the emerging trends along with
essential drivers, challenges and opportunities in India DC power systems market.
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