India Industrial Inverter Market to Cross $ 100 Million Mark by 2025

Rapid urbanization and growing electrification to drive growth of India industrial inverter market through 2025

According to TechSci Research report, “India Industrial Inverter Market By Type, By Product Type, By Capacity, By Sales Channel, Competition, Forecast & Opportunities, 2025”, India industrial inverter market is forecast to grow to $ 102 million by 2025 due to increasing demand for standby sources of power across industrial and commercial applications coupled with growing urbanization and rising demand and supply gap of electricity. However, the COVID-19 pandemic is expected to have a significant negative impact on the industrial inverter market in 2020. Also, low-battery lifespan and high maintenance cost are likely to hamper the growth of market during forecast period. Additionally, growing adoption of solar energy and other forms of renewable energy can further restrict the growth of market.

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India industrial inverter market is segmented based on type, product type, capacity, sales channel, and region. Based on type, the market can be fragmented into pure sine wave, modified sine wave and square wave. The pure sine wave segment is expected to grow at a significant pace and will dominate the market during forecast period on account of their higher reliability and efficiency. Additionally, these can be adjusted according to the purpose or power requirements since there are several types of pure sine wave inverters available. Based on product type, the market can be divided into single-phase and three-phase. The three-phase segment dominates the market attributable to the fact that they deliver constant power and deliver a higher output as compared to the single-phase inverters.

The country’s South region is anticipated to continue its market dominance over the next five years, followed by South, North, West and East regions. Luminous Power Technologies Pvt. Ltd., V-Guard Industries, Microtek International Private Limited, Su-Kam Power Systems Limited, Exide Industries Limited, Amara Raja Batteries Limited, Genus Innovation Limited, Arise India Limited, Consul Neowatt Power Solutions Private Limited, and Uniline Energy Systems Private Limited are some of the leading players operating in India industrial inverter market.

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“India industrial inverters market is anticipated to grow at a steady pace over the next five years. However, the market will see a decline in demand due to the COVID-19 pandemic in the near term. Nevertheless, favorable factors such as widening demand and supply gap of electricity, lack of an efficient power grid, rising industrial spending, increasing R&D, change in attitude of consumers, among others are anticipated to propel demand for industrial inverters across the country over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Industrial Inverter Market By Type, By Product Type, By Capacity, By Sales Channel, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of India industrial inverter market and provides statistics & 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 analyzes the emerging trends along with essential drivers, challenges and opportunities in India industrial inverter market.

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