Edison, NJ -- (SBWIRE) -- 04/20/2020 -- A new research document is added in HTF MI database of 72 pages, titled as 'Power Backup Market In India (2018-2023) with data on Product Segments (Diesel Generator, UPS and Inverter)' with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions and important players/vendors such as Cummins India Limited, Su-Kam Power System Limited, Exide Industries Limited ETC. The report will help you gain market insights, future trends and growth prospects for forecast period of 2018-2023.
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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.
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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Product Segment Insights:
1. 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.
2. 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.
3. 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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Chapter 1: Executive summary
1.1. Key questions answered
1.2. Power backup market : definition and structure
1.3. Executive summary
Chapter 2: Power backup market in India - Overview
2.1. India market overview - historical (2015–2017) and forecasted (2018–2023) market size (INR Bn), geography wise market revenue (INR Bn), and market attractiveness analysis
2.2. Market drivers
2.3. Market challenges
2.4. Market trends
2.5. Value chain analysis
2.6. Porter's Five Forces analysis
Chapter 3: Power backup market in India - Diesel generator
3.1. Diesel generator market overview – historical (2015–2017) and fo
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