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India Power Inverter Market: By Rating; By Application: Motor Drives, UPS, Rail Traction, Wind Turbines, EVs/HEVs, Solar PVs, Others; By End Use: Utilities, Residential, Commercial and Industrial, Others; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

India Power Inverter Market Outlook

The India power inverter market attained a value of about USD 4.20 billion in 2021. The market is further estimated to grow in the forecast period of 2022-2027 at a CAGR of 14.6% to reach nearly USD 9.81 billion by 2027.

 

Growing Demand for Power Inverters in the Residential Sector Aiding the India Market Growth

The growing usage of power inverters in the residential sector is augmenting the market growth in India. With rapid urbanisation and growing disposable incomes, coupled with the rising ownership of consumer electronics such as televisions, smartphones, and refrigerators, among others, the utilisation of power inverters to ensure seamless electricity supply is growing. The growing prevalence of power cuts, especially in rural and semi-urban regions, is boosting the demand for cost-effective power inverters. Moreover, the India power inverter market is being fuelled by the surging launches of compact, efficient, safe, low maintenance inverters with high-rated performance and minimal carbon footprint.

The rising adoption of power inverters as an alternative to diesel generators owing to the rising pollution levels is expected to increase. With frequent power outage issues, especially in tier-II and tier-III cities, power generators are increasingly preferred in utility operations, owing to their advanced technology and high handling capacity. The transition to smart grid infrastructure is bolstering the demand for smart inverters that can instantly and efficiently respond to frequency disruptions while ensuring the stability of grids against such disruptions, which is anticipated to augment the growth of the power inverter market in India.

 

Market Segmentation

A power inverter is an electronic device that transforms direct current (DC) into alternative current (AC). It is used to ensure seamless electricity supply to electrical gadgets by using batteries and energy from sources like wind turbines and solar PVs. Power inverters are typically energy-efficient, durable, and ideal for handling high power requirements, due to which they find extensive use in the residential, commercial, and utility sectors.

The major ratings of power inverter are:

  • <5KW
  • 5kW to 100kW
  • 100kW to 500kW
  • Above 500kW

The market can be broadly categorised on the basis of its applications into:

  • Motor Drives
  • UPS
  • Rail Traction
  • Wind Turbines
  • EVs/HEVs
  • Solar PVs
  • Others

Based on end use, the market is divided into:

  • Utilities
  • Residential
  • Commercial and Industrial
  • Automotive and Transportation
  • Others

 

Increasing Availability of Smart Power Inverters to Drive the Market Growth in India

The growing penetration of smart power inverters that efficiently delivers energy while regulating voltage, withstanding abnormal frequency and voltage, responding to frequency, and changing operations in response to instructions is expected to fuel the market. As distributed and renewable energy sources require advanced power electronics that can offer anti-islanding functionalities, the deployment of smart inverters is likely to surge. With the increasing launches of innovative smart power inverters offering advanced functions such as voltage and frequency regulation, enhanced situational awareness, adaptive protection, advanced system recovery and restoration, and DER reconnect/disconnect, among others, the India power inverter market is poised to witness rapid growth in the forecast period.

With the rising exploration of solar energy as a renewable power source and the expansion of solar plants in India, the demand for power inverters for large-scale solar plants is significantly growing. The introduction of various favourable government initiatives to boost the adoption of solar PVs in the residential, commercial, and industrial sectors are also surging the demand for power inverters. The growth of the power inverter market in India can further be attributed to the rising demand for high-capacity PV modules, the ease of installation offered by innovative power inverters, and the increasing emphasis on reducing the levelised cost of electricity (LCOE). Furthermore, various leading companies are expanding their manufacturing capabilities in response to the “Make in India” scheme, which is expected to boost the accessibility and cost-effectiveness of innovative power inverters in the country in the coming years.

 

Key Players in the India Market for Power Inverter

The report presents a detailed analysis of the following key players in the India power inverter market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • ABB Ltd.
  • Huawei Technologies Co., Ltd.
  • Delta Electronics, Inc.
  • SMA Solar India Private Limited
  • Genus Power Infrastructures Ltd
  • SolarEdge Technologies Inc.
  • Others

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Rating
  • Application
  • End Use
Breakup by Rating
  • <5KW
  • 5kW to 100kW
  • 100kW to 500kW
  • Above 500kW
Breakup by Application
  • Motor Drives
  • UPS
  • Rail Traction
  • Wind Turbines
  • EVs/HEVs
  • Solar PVs
  • Others
Breakup by End Use
  • Utilities
  • Residential
  • Commercial and Industrial
  • Automotive and Transportation
  • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • ABB Ltd.
  • Huawei Technologies Co., Ltd.
  • Delta Electronics, Inc.
  • SMA Solar India Private Limited
  • Genus Power Infrastructures Ltd
  • SolarEdge Technologies Inc.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions   
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    India Power Inverter Market

    7.1    India Power Inverter Historical Market (2017-2021) 
    7.2    India Power Inverter Market Forecast (2022-2027)
    7.3    India Power Inverter Market by Rating
        7.3.1    <5KW
            7.3.1.1    Market Share
            7.3.1.2    Historical Trend (2017-2021)
            7.3.1.3    Forecast Trend (2022-2027)
        7.3.2    5kW to 100kW
            7.3.2.1    Market Share
            7.3.2.2    Historical Trend (2017-2021)
            7.3.2.3    Forecast Trend (2022-2027)
        7.3.3    100kW to 500kW
            7.3.3.1    Market Share
            7.3.3.2    Historical Trend (2017-2021)
            7.3.3.3    Forecast Trend (2022-2027)
        7.3.4    Above 500kW
            7.3.4.1    Market Share
            7.3.4.2    Historical Trend (2017-2021)
            7.3.4.3    Forecast Trend (2022-2027)
    7.4    India Power Inverter Market by Application
        7.4.1    Motor Drives
            7.4.1.1    Market Share
            7.4.1.2    Historical Trend (2017-2021)
            7.4.1.3    Forecast Trend (2022-2027)
        7.4.2    UPS
            7.4.2.1    Market Share
            7.4.2.2    Historical Trend (2017-2021)
            7.4.2.3    Forecast Trend (2022-2027)
        7.4.3    Rail Traction
            7.4.3.1    Market Share
            7.4.3.2    Historical Trend (2017-2021)
            7.4.3.3    Forecast Trend (2022-2027)
        7.4.4    Wind Turbines
            7.4.4.1    Market Share
            7.4.4.2    Historical Trend (2017-2021)
            7.4.4.3    Forecast Trend (2022-2027)
        7.4.5    EVs/HEVs
            7.4.5.1    Market Share
            7.4.5.2    Historical Trend (2017-2021)
            7.4.5.3    Forecast Trend (2022-2027)
        7.4.6    Solar PVs
            7.4.6.1    Market Share
            7.4.6.2    Historical Trend (2017-2021)
            7.4.6.3    Forecast Trend (2022-2027)
        7.4.7    Others
    7.5    India Power Inverter Market by End Use
        7.5.1    Utilities
            7.5.1.1    Market Share
            7.5.1.2    Historical Trend (2017-2021)
            7.5.1.3    Forecast Trend (2022-2027)
        7.5.2    Residential
            7.5.2.1    Market Share
            7.5.2.2    Historical Trend (2017-2021)
            7.5.2.3    Forecast Trend (2022-2027)
        7.5.3    Commercial and Industrial
            7.5.3.1    Market Share
            7.5.3.2    Historical Trend (2017-2021)
            7.5.3.3    Forecast Trend (2022-2027)
        7.5.4    Automotive and Transportation
            7.5.4.1    Market Share
            7.5.4.2    Historical Trend (2017-2021)
            7.5.4.3    Forecast Trend (2022-2027)
        7.5.5    Others 
8    Market Dynamics
    8.1    SWOT Analysis
        8.1.1    Strengths
        8.1.2    Weaknesses
        8.1.3    Opportunities
        8.1.4    Threats
    8.2    Porter’s Five Forces Analysis
        8.2.1    Supplier’s Power
        8.2.2    Buyer’s Power
        8.2.3    Threat of New Entrants
        8.2.4    Degree of Rivalry
        8.2.5    Threat of Substitutes
    8.3    Key Indicators for Demand
    8.4    Key Indicators for Price
9    Competitive Landscape
    9.1    Market Structure
    9.2    Company Profiles
        9.2.1    ABB Ltd.
            9.2.1.1    Company Overview
            9.2.1.2    Product Portfolio
            9.2.1.3    Demographic Reach and Achievements
            9.2.1.4    Certifications
        9.2.2    Huawei Technologies Co., Ltd.
            9.2.2.1    Company Overview
            9.2.2.2    Product Portfolio
            9.2.2.3    Demographic Reach and Achievements
            9.2.2.4    Certifications
        9.2.3    Delta Electronics, Inc.
            9.2.3.1    Company Overview
            9.2.3.2    Product Portfolio
            9.2.3.3    Demographic Reach and Achievements
            9.2.3.4    Certifications
        9.2.4    SMA Solar India Private Limited
            9.2.4.1    Company Overview
            9.2.4.2    Product Portfolio
            9.2.4.3    Demographic Reach and Achievements
            9.2.4.4    Certifications
        9.2.5    Genus Power Infrastructures Ltd
            9.2.5.1    Company Overview
            9.2.5.2    Product Portfolio
            9.2.5.3    Demographic Reach and Achievements
            9.2.5.4    Certifications
        9.2.6    SolarEdge Technologies Inc.
            9.2.6.1    Company Overview
            9.2.6.2    Product Portfolio
            9.2.6.3    Demographic Reach and Achievements
            9.2.6.4    Certifications
        9.2.7    Others
10    Industry Events and Developments

 

List of Figures and Tables

1.    India Power Inverter Market: Key Industry Highlights, 2017 and 2027
2.    India Power Inverter Historical Market: Breakup by Rating (USD Billion), 2017-2021
3.    India Power Inverter Market Forecast: Breakup by Rating (USD Billion), 2022-2027
4.    India Power Inverter Historical Market: Breakup by Application (USD Billion), 2017-2021
5.    India Power Inverter Market Forecast: Breakup by Application (USD Billion), 2022-2027
6.    India Power Inverter Historical Market: Breakup by End Use (USD Billion), 2017-2021
7.    India Power Inverter Market Forecast: Breakup by End Use (USD Billion), 2022-2027
8.    India Power Inverter Market Structure.

Key Questions Answered in the Report

In 2021, the India power inverter market attained a value of nearly USD 4.20 billion.

The market is estimated to grow at a CAGR of 14.6% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 9.81 billion by 2027.

The market is being aided by the growing use of power inverters in the residential sector, rapid urbanisation, and the rising adoption of power inverters in utility operations.

The market is expected to be bolstered by the rising penetration of smart power inverters, the rising exploration of solar energy, and the growing manufacturing of power inverters in the country.

The major ratings of power inverter in the market are <5KW, 5kW to 100kW, 100kW to 500kW, and above 500kW.

The various applications of power inverter are motor drives, UPS, rail traction, wind turbines, EVs/HEVs, and solar PVs, among others.

The significant end uses in the market are utilities, residential, commercial and industrial, and automotive and transportation, among others.

The major players in the market are ABB Ltd., Huawei Technologies Co., Ltd., Delta Electronics, Inc., SMA Solar India Private Limited, Genus Power Infrastructures Ltd, and SolarEdge Technologies Inc., among others.

Analyst Review

The India power inverter market attained a value of nearly USD 4.20 billion in 2021, driven by the growing use of power inverters in the residential sector. Aided by the rising penetration of smart power inverters, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 14.6%. The market is estimated to reach about USD 9.81 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the market for power inverter can be segmented into <5KW, 5kW to 100kW, 100kW to 500kW, and above 500kW. By application, the market is classified into motor drives, UPS, rail traction, wind turbines, EVs/HEVs, and solar PVs, among others. On the basis of end uses, the market is divided into utilities, residential, commercial and industrial, and automotive and transportation, among others. The key players in the above market include ABB Ltd., Huawei Technologies Co., Ltd., Delta Electronics, Inc., SMA Solar India Private Limited, Genus Power Infrastructures Ltd, and SolarEdge Technologies Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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