"India power Inverter market is majorly driven by square and modified wave power inverters. Square and modified wave inverters are not best performing systems but due to reasonably price in comparison to pure sine wave power inverter and easy availability, they are highly used power systems in Indian market. "
Power inverter market is classified as pure sine wave, modified/quasi wave, and Square wave. Modified and Square wave power inverter control more than 70% market share. The majority of demand comes from households for whom price is an important consideration. Additionally, stiff competition and the presence of a large number of unorganised players in this segment help in keeping the prices low. On other hand, it has been observed that pure sine wave inverter is mostly used by brand conscious consumers.
According to recently published report of Bonafide Research "India Power Inverter Market Overview, 2018- 2023" Power inverter market is witnessing growth of CAGR of more than 8.5% from 2012-17. These inverters are classified by depending on their output as three types that are a square wave, modified-sine wave and pure sine wave. Normally Off-the-shelf inverters are generally either square wave or modified-sine wave and sine wave inverter. These 3 types of inverters less expensive and it is modified though delivering the same average voltage to a load, it is not appropriate for delicate electronic devices on the precise timing. Most of the pure sine wave inverter offer having good accuracy it is very high load capacity, but they are more complex in design and more expensive. The market is slowly shifting towards pure sine wave inverters. Higher demand from office buildings, industries, SMEs considering a backup power inverter, a true sine wave model is allowing proper function of all electronic office equipment and fluorescent tube lighting.
Another important emerging technology is net metering and its integration with sine wave inverters/UPS systems, coupled with communication and software technologies in the smart-grid re-integration domain. This will be done by developing and deploying decentralised solar rooftop energy generators for residential, commercial and various industrial applications, of both off-grids, on-grid and hybrid types with storage systems that will depend on the available cheap mix of energy resources. Technological developments are happening on the energy efficiency side as energy conservation is the burning issue of the day.
Major companies operating in the power inverter market of India are Swelect Energy Systems Limited, Luminous Power Technologies Private Limited, Microtek International private limited, Su-Kam Power Systems Limited, Genus innovation Limited, Consul Neowatt Power solutions Private Limited, Tritronics India Private Limited, True power international Limited, Uniline Energy Systems Private Limited, Arise India Limited.
Report: India Power inverter Market Overview, 2018- 2023
Base Year: 2017
Estimated Year: 2018, Forecast Year: 2023
Pages: 53, Figures: 21, Tables: 5