How Does Utility and Power Sector Expand Indian High-Capacity Inverters Industry?

In 2021, the Indian non-solar high-capacity inverter market generates $391.3 million, advancing at a rate of 7.7% from 2021 to 2030, to capture $760.1 million in revenue in 2030. It is ascribed to the growing demand for power backup solutions across residential, commercial, and industrial sectors, along with the growing requirement for inverters in tier II and tier III cities of the country. 

In addition, the sales of solar high-capacity inverters in India generate revenue, amounting to $426.0 million in 2021, and it is projected to reach $1199.0 million, rising at a rate of 12.2% in the coming future. It is led by the rising use of solar power for various applications, government initiatives for encouraging the adoption of renewable power sources, more specifically solar energy, and the geographical location of the country garnering benefits of massive solar energy sources. 

The advancements in the solar energy sector concerning power generation and usage contribute to the rise in the number of solar PV installations for numerous applications in India. Moreover, the growing adoption of renewable energy in the country results in increasing sales of renewable power inverters in the country.

The substantial utility & power sector application of the solar high-capacity inverters contributes the largest revenue to the industry, accounting for 91.7%, and it is projected to follow the same trend in the near future, growing at a rate of 12.3%. It is ascribed to the massive usage of these inverters in solar power plants. In addition, Govt. of India focuses on expanding the solar power capacity from 288 GW to 50 GW by 2030. 

Presently, 20% of the everyday power demand of Karnataka is catered by solar power the country, accounting for 7,346 MW. Moreover, the biggest solar plant is established in Pavagada, Tumakuru. 

In addition, the geographical location of Karnataka suits solar energy generation with the presence of a massive number of players. In addition, the earth's movements with respect to the sun, resulting in an appropriate tilt of the rotational axis of the earth with favorable attenuation results in high solar energy intensity. Moreover, Karnataka is the largest high-capacity inverters market in the country. 

Therefore, the geographical location of the country favors power generation by solar energy resources, and thus results in industry propulsion.

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How Does Increase in Demand for Consumer Home Appliances Contribute to a High Rise in Stabilizers Sales in India?

In 2021, the Indian stabilizers market generated $676.2 million, and it is projected to contribute $1,359.8 million in 2030, progressing at an 8.1% rate from 2021 to 2030, ascribed to rising government focus on smart city development projects and major investments under Invest India initiatives and make in India. Moreover, the increase in the electrical appliances sales such as refrigerators, televisions, and ACs boost the stabilizers industry. 

Servo-controlled stabilizers are projected to experience the highest sales in the coming years, accounting for 8%, ascribed to the increasing consumer awareness of appliance rating structures, and the benefits of products with a higher rating. Along with this, the higher reliability, improved correction speed, and durability boost the demand od servo-controlled stabilizer in the industry. 

The rise in the demand for consumer home appliances such as refrigerators, ACs, and TVs has been witnessed after the 2020 pandemic, as a large number of people kept working from their homes, resulting in a massive rise in average ticket sales of comfort home products. For example, the demand for split ACs in towns and tier-II cities is 12% higher compared to tier-I cities. Moreover, the premium products such as high-capacity refrigerators, large-sized smart televisions, smart washing machines, and other IoT and AI-enabled products are penetrating the smaller tier-II cities.

Uttar Pradesh is projected to showcase the fastest growth in the stabilizer industry of the country, progressing at a rate of 9% in the coming years, ascribed to a rise in the state’s electricity connections, specifically in rural areas where power supply keeps fluctuating.

In addition, Tamil Nadu captures the extensive revenue share generated by the sales of stabilizers in the country, ascribed to increased penetration of local manufacturers, rising incidence of electricity fluctuations, wide population, and large numbers of residential and commercial spaces.

Therefore, the rise in the sales of the mainline stabilizers and increased demand for electric appliances for home comfort in tier-II cities caused by mass adoption or remote work post-COVID-19 boost the industry.

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How Macroeconomic Development Drives India Prime Power Diesel Generators Market Growth?

The Indian prime power diesel generators market is being driven by the increasing infrastructure expenditures and a substantial power deficit. Because of these factors, the market is projected to reach $356.3 million in 2030 from $143.6 million in 2021, at a CAGR of 10.6% from 2021 to 2030. The commercial sector has a strong need for medium- and high-power diesel gensets. Similarly, the substantial expansion in the manufacturing and construction industries is likely to fuel market growth.

Furthermore, India's burgeoning telecommunications industry is a major driver for the Indian prime power diesel generators market. This industry is concentrating on overcoming one of the most-significant challenges of unpredictable power supplies from the grid. As a result, prime power diesel generators are commonly used by telecom tower operators. The number of telephone users in India rose by 0.71% from January 2021 to the end of February 2021, as per the Telecom Regulatory Authority of India (TRAI). This increases the strain on telecommunications businesses to maintain the operationality of the towers despite the inconsistent grid supplies.

By 2030, the commercial application category is set to account for over 70% of the Indian prime power diesel generators market revenue. This will be due to the high need for a constant electrical supply in commercial facilities, such as hotels, train stations, phone exchanges, and retail stores. Prime power diesel generators serve as a backup power source and a type of insurance, allowing businesses to avoid losing money due to a lack of adequate power for operations. As a result, in 2021, firms selling these devices in the country made over 60% of their income from commercial sales.

Uttar Pradesh has the highest demand for diesel gensets for prime power applications, and it is projected to continue to do so in the future. In 2021, the state had an Indian prime power diesel generators market share of over 10% and produced over $20 million revenue from genset sales. This was owing to the increasing expenditures in the telecom industry, rising power demand in the state's residential facilities, and rapid commercial infrastructure expansion. In addition, the rebound in the Indian commercial and residential real estate industries, commissioning of new construction projects, and a comeback in industrial investment would provide attractive prospects for participants in the future years.

Hence, the growth of the commercial sector is expected to drive the demand for gensets to offer prime power in India.

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