Power Backup Market in India (2018-2023) is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Power Backup Market. Some of the key players profiled in the study are Cummins India Limited, Su-Kam Power System Limited, Exide Industries Limited, Honda Siel Power Products Limited, Mahindra & Mahindra Limited, Kirloskar Oil Engines Limited, Amara Raja Batteries Limited, Microtek International Pvt. Ltd., Luminous Power Technologies, Ashok Leyland.
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The power backup market in India is expected to grow to INR 504.66 billion by 2023, expanding at a compound annual growth rate (CAGR) of 11.28% during 2018–2023. The market in India is characterized by the dominant presence of the unorganized sector, even though there’s hardly enough difference between the price point at which products from the organized and unorganized sectors sell. This is due to the fact that customers are becoming increasingly conscious about what they are buying, the quality, reliability and the impact of the product on its immediate surroundings.
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Product Segment Insights:
- Diesel Generator: The diesel generator market is anticipated to expand at a CAGR of 8.1%. The telecom industry is the key driver for diesel generators, occupying more than 40% of the installed base. The construction and hospitality industries come next in line. For businesses such as financial services where power outages can lead to wide-scale disruptions in the enterprise-wide management services, relying on uninterrupted power to run critical information systems has become mandatory.
- UPS: The UPS market is expected to expand to INR 99.83 Bn in 2023, at a CAGR of 11.97%. Growing investments in IT and the rapid development of the IT sector have contributed to the boom in the UPS market. Increasing consciousness about the need to protect important data is benefiting the market. Domestic manufacturers are expected to witness stiff competition from foreign players. Manufacturers operating in the industry are emerging as a complete solution provider rather than mere suppliers.
- Inverter: The inverter market is expected to expand to INR 277.83 Bn in 2023, at a CAGR of 9.33%. Growth in the inverter market can be attributed to the demand for power backup solutions across residential, commercial as well as industrial sectors. Moreover, the government’s initiatives to expand electrification rate in India coupled with technological developments is further expected to influence Indian inverter market in the coming years positively.
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Power Backup market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Power Backup near future?
What is the impact analysis of various factors in the Power Backup market growth?
What are the recent trends in the regional market and how successful they are?
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Some extract from Table of Contents
• Overview of Power Backup Market
• Power Backup Size (Sales Volume) Comparison by Type (2019-2025)
• Power Backup Size (Consumption) and Market Share Comparison by Application (2019-2025)
• Power Backup Size (Value) Comparison by Region (2019-2025)
• Power Backup Sales, Revenue and Growth Rate (2019-2025)
• Power Backup Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of Power Backup
• Power Backup Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions
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