Volume sales of power Inverter to increase by threefold times by 2021: Bonafide Research
May, 01
2015

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Volume sales of power Inverter to increase by threefold times by 2021: Bonafide Research

 

Increasing number of organized players, increasing purchase power of the consumers, luxurious lifestyle adoptability, reducing average selling price of the inverter and the strong competition in the industry will make the Indian Power Inverter Market sales by volume to increase thrice. According to recently published report of Bonafide Research "Indian Power Inverter Overview", inverters used to be prohibitively expensive for middle income group and were seen as a luxury, but, now it has become a necessity since the households face power cuts for at least six to eight hours a day in cities like Gurgaon, India. To cater the low income group customers the organized players are coming up with the inverters ranging from INR 5000 – 7000. Back then, the unorganized sector had a major share in the industrial segment but now many organized players are providing and manufacturing inverters for the residential sector with a competitive pricing for each segment. It is estimated that 1.8 Million units inverters are sold annually in India, with more than 60% rated below 1.5 kVA capacity. A power inverter, or inverter, is an electronic device or circuitry that changes direct current (DC) to alternating current (AC). New technologies are continuously being developed by the rigorous R&D which is done by the major players in the organized sector. The average selling price is also decreasing as the raw materials used such as MOSFET are becoming easily available. The total volume sale was accounted to be 2.74 Million units by 2014 which is expected to increase thrice by volume till 2021. The rise in temperature has boosted the demand and hence the business for manufacturers and dealers of inverters in India. Summer is getting hotter, power cuts are back and so are the associated problems. More importantly, with examinations being held, parents are more worried about the interruptions in power supply affecting the preparation of their wards resulting in soaring demand of the inverters in India. The increasing awareness among people to prevent damage of electronic equipments resulting from voltage fluctuations has played an important role in further expansion of the India Inverter market. It is expected that the volume sales of the organized sector to grow with a CAGR of more than 20% from the year 2015 to 2021.

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