India Automatic Voltage Regulator Market to Surpass USD349.17 Million by 2027F
Poor power
conditions in India and initiatives such as ‘Smart
Cities Mission’ and ‘Housing for All are driving the growth in India
Automatic Voltage Regulator Market in the forecast period, 2017-2027F.
According to
TechSci Research report “India Automatic Voltage Regulator Market By Type (Servo Motor, Relay Based), By kVA Rating (1
kVA-6kVA, 6kVA-12kVA, above 12 KVA), By Phase Type (Single Phase, Three Phase),
By Application (Residential Commercial, Industrial), By Sales Channel (Online,
Offline), By Region, Competition Forecast & Opportunities, 2017-2027F”,
India automatic
voltage regulator market was valued at USD213.17 million in 2021 and is
projected to advance with a CAGR of 8.05% in the forecast period to reach USD349.17
million in 2027F. Surging demand for constant power supply
in rural and urban areas and initiatives by the government such as housing for
all and smart cities mission are anticipated to drive growth of the automatic
voltage regulator in India through 2027F.
The electricity supplied is of low and
unpredictable quality, which can damage electrical equipment and the situation
has only worsened over the years. The voltage regulators are used to avoid
power disruptions that can cause damage or harm to costly power equipment or
home appliances.
For the power sector in India, the
advent of GST is bringing about transit in the trajectory of the sector and its
growth. The triumph of the transition to a new tax regime will inadvertently
depend upon how well the industry, as well as individuals, prepare in adapting
to this change. The power sector is excluded from the GST regime that will be
further pushed by the fact that GST rates will not be implied on power
generators as output tax. This will act as the growth factor for the automatic
voltage regulators market in India.
Browse more than 33 market data Figures spread through 110 Pages
and an in-depth TOC on “India Automatic Voltage Regulator Market."
https://www.techsciresearch.com/report/india-automatic-voltage-regulator-market/8052.html
India automatic voltage regulator
market can be segmented based on type, kVA rating, phase type, application, sales
channel, company and region. Based on application, the market can be segregated
into residential, commercial and industrial. Commercial sector is the leading
segment by application for automatic voltage regulators. Commercial sector
accounted for a share of 38.96% in 2021 in India Automatic Voltage Regulator
Market. Favorable government policies and initiatives such as Smart Cities
Mission, Greenfield and Brownfield projects for developing new airports along
with expansions of existing airports coupled with Real Estate Regulations and
Development Act 2016 are the major factors propelling demand for automatic
voltage regulators in the country.
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Some of
the major players operating in India automatic voltage regulator market are V-Guard
Industries Ltd., Microtek International Private Limited, Capri Group, Livguard
Energy Technologies Private Limited, Servokon System Ltd, Bluebird Power
Controls Pvt. Ltd., Jindal Electric, Servomax Limited, Luminous Power
Technologies Private Limited, etc. Companies operating in the market are
focusing on product development by launching innovative designs, which are
compact and with high quality stabilizers.
“In 2021,
South and West regions of the country cumulatively accounted for the largest
share in India Automatic Voltage Regulator Market as these regions are the
industrial and commercial hubs of India. Moreover, increasing sale of consumer
durables and booming sectors such as IT, infrastructure, construction,
healthcare, commercial and manufacturing are further expected to contribute
significantly to the voltage regulators demand in these two regions. Additionally,
Maharashtra, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala and Karnataka
are focusing on infrastructure-based development, with an aim to further boost
their respective GDP growth. This is going to further boost the market in South
and West regions.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Automatic Voltage Regulator Market By Type (Servo Motor,
Relay Based), By kVA Rating (1 kVA-6kVA, 6kVA-12kVA, above 12 KVA), By Phase
Type (Single Phase, Three Phase), By Application (Residential Commercial,
Industrial), By Sales Channel (Online, Offline), By Region, Competition
Forecast & Opportunities, 2017-2027F”, has evaluated the
future growth potential of India automatic voltage regulator 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 the India automatic voltage regulator market.
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