Inverter Market in India 2017

  • ID: 4434507
  • Report
  • Region: India
  • 250 Pages
  • SNP Infra Research Solutions Private Limited
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India is the world’s third largest energy consumer, and its energy use is projected to grow at a rapid pace supported by economic development, urbanization, improved electricity access and an expanding manufacturing base. By 2040, India’s energy consumption will be more than OECD Europe combined, and approaching that of the United States.

The growth in India inverters market has been attributed to the demand and supply gap between electric energy in India and the increasing purchasing power of Indian consumers. The decreasing tolerance for long power cuts among consumers in rural and semi-urban areas is also a major factor behind the growth of this market.

The market for inverters and UPS in India is fragmented and there exist a large number of small unorganized players manufacturing substandard and local inverters. However, the market is dominated by a few leading brands. There is a gradual rise in awareness among the population of India pertaining to the benefits of good quality inverters. Moreover, with the expansion of purchasing power, the demand for Inverters in India is expected to surge in the future. India Inverters  market is projected to grow at an appreciable  CAGR of 9.4% to reach INR ~ million by FY’2019. The UPS market in India is expanding swiftly due to the low availability of high quality power, expansion  of industries and increasing income levels of consumers. The market is projected to scale new heights and reach INR ~ million by FY’2019, expanding at a CAGR of 9.8% in FY’2014 - FY’2019. India Inverters Market is expected to reach INR 43,200.7 million by FY’ 2019. On grid product, is anticipated to witness a gain at over 19% and is likely to reach over USD 10 billion by 2024 period. Net metering and Feed in tariff will encourage the business growth. Future Growth of India Inverters market is expected to be led by low availability of  high quality power, expansion of industries and  increasing income levels of consumers.

Growing demand for off grid electricity will augment global PV inverter market share during the period.

Modern energy access is essential for safety and security purpose. As of 2016, over 1.2 billion people across globe has no electricity access. 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. 

Favorable government initiatives to promote sustainable energy will foster the Photovoltaic inverter market size. Financial support and various scheme such as feed in tariff, net metering promote deployment of new project and development of renewable energy technologies will further complement the growth of this industry. In 2015, 78% of global photovoltaic market is driven by financial incentives, 6% from competitive tenders and 15% through net metering. Decreasing solar component cost coupled with increasing operational efficiency will encourage the solar installation, which will drive the PV inverter market in future. Advancement of technology and manufacturing improvement in the has resulted into considerable decline in the prices of components. Strict government regulation to reduce the greenhouse gas emission and increasing demand for electricity will further compliment the industry outlook.

This report covers various aspects such as market size of India Inverters and UPS market, segmentation on the basis of technology, market structure, endusers, 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. This report holds potential to be an excellent asset towards strategic decision making of the management.

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1. Inverter Market: An Introduction

  • Overall Scenario of Market & Brand Position
  • Market Trends
    • Global
    • India
  • Restraints of Inverter Market

2. Global: Inverter & Pv Scenario

  • PV Market
  • Solar Cells / Modules / System Efficiency
  • Energy Payback Time (EPBT)
  • Inverters
  • Price Development

3. Power Inverter: A Comprehensive Introduction

  • Introduction
  • Technical specifications
  • Major Applications
    • DC power source usage
    • Uninterruptible power supplies
    • Electric motor speed control
    • In refrigeration compressors
    • Power grid
    • Induction heating
    • HVDC power transmission
    • Electroshock weapons
    • Miscellaneous
    • Solar
  • Solar Inverter
    • Classification
    • Inverter Technology
    • Inverter Market an Overview
  • Technical Standards of Major Inverter Suppliers
  • Certification & Testing of Inverters

4. Regulatory & Policy Environment In India

  • Existing Technical Regulations in India
  • Regulatory & Policy Environment in India

5. Growth Drivers In India

  • Ambitious Solar Installation Target of 100 GW
  • Energy Deficit in India
  • Growing Demand from Industrial and Commercial Sectors
  • Rise in Income Levels
  • Increasing Demand from Rural Areas
  • Shortage of Power
  • Future Automated Energy Management
  • Focus on Decentralized Power Generation

6. Competitive Landscape Of Major Players In India Inverter And Ups Market

  • Market Share by Revenue
  • Market Share by Volumes
  • Market Share by Technology
  • Market Share by Supplies
  • Imports by Countries
    • By Value
    • By Quantum
    • Total Volume & Value of Imports
  • SWOT Analysis of India Inverters and UPS Market

7. Challenges Of Inverter Industry

  • Lack of Consumer Awareness/ Non standardization
  • Shortage of Raw Material
  • Inability to Adapt New Technology
  • High Import Duties and Currency Depreciation

8. Company Profiles Of The Major Players In India Inverter

  • Luminous Power Technologies Pvt Ltd
  • Microtek International Pvt Ltd
  • Su-Kam Power Systems Ltd
  • Genus Power Infrastructure Ltd
  • Delta Power Solutions India Pvt. Ltd
  • Amara Raja Batteries Ltd
  • Exide Industries Ltd

9. Recommendations And Way Forward

  • Key Observations
  • Key Recommendations
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