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.
