India Power Convertor Market (2024-2030) | Trends, Share, Industry, Forecast, Outlook, Analysis, Growth, Size, Revenue, Value & Companies

India Power Convertor Market Synopsis

The India power converter market was valued at USD 5.4 billion in 2020 and is expected to reach a value of USD 7.8 billion by 2026, registering a CAGR of 6.8% during the forecast period (2020-2026). Power converters are used to control and transfer energy from one form to another; they convert electrical energy into mechanical or thermal forms, enabling efficient operation between two systems with different operational requirements. The market has witnessed significant growth due to technological advancements in automation technologies. In addition, rising demand from end-use industries such as automotive, aerospace & defense and industrial sectors have also bolstered the growth potential for power conversion products across India over the past few years.

COVID Impact on the Market:

The COVID-19 pandemic has led to disruption in overall industry operations across the world since early 2020 due customer lockdowns coupled with supply chain disruptions resulting into shortage of raw materials which have resulted into strain on production capacity for companies operating within Indian power converter sector . Moreover , rising unemployment rate along with financial crunch amongst end users have affected their purchasing capacity which in turn , had negative impact on sales revenue generated by domestic manufacturers within Indian power converter industry over last 8 months . Nevertheless , robotic automation solutions offered by various companies operating within this segment are expected witness surge in demand as many industries shall move towards automated process post covid era thus providing necessary impetus towards recovery of lost revenues over recent months .

Drivers:

Growing Automation Technologies ? Automation technology is being extensively used across several applications such as transportation, manufacturing processes etc., owing to its ability reduce human labor cost while increasing accuracy and efficiency which subsequently drives high adoption rate of these solutions among leading industrial sectors . This factor is expected to aid steady growth rate for power converters during foreseeable future.

Rising Demand from End Use Industries ? Increased focus on development & modernization activities coupled with government initiatives aimed towards boosting infrastructure developments has created favorable conditions that further fuel demand for AC/DC Converter equipment?s commonly employed within infrastructural projects undertaken across India thereby propelling healthy expansion opportunities throughout forecast frameperiod.

/h3Challenges :

High Installation Cost ? High installation cost associated with modern DC/AC Converter units remain major challenge restraining widespread adoption rates especially amongst small scale enterprises who cannot afford high capital expenditure required for setting up new plants equipped with latest technologies hence creating hindrance against profitable returns upon investments made by.

/h3Key Players of The Market

Some key players involved in Indian Power Converter Market include ABB Ltd., Siemens AG , Schneider Electric SE , Crompton Greaves Consumer Electrical Limited , Larsen Toubro Ltd., General Electric Company etc .

Key Highlights of the Report:

• India Power Convertor Market Outlook
• Market Size of India Power Convertor Market, 2023
• Forecast of India Power Convertor Market, 2030
• Historical Data and Forecast of India Power Convertor Revenues & Volume for the Period 2020-2030
• India Power Convertor Market Trend Evolution
• India Power Convertor Market Drivers and Challenges
• India Power Convertor Price Trends
• India Power Convertor Porter's Five Forces
• India Power Convertor Industry Life Cycle
• Historical Data and Forecast of India Power Convertor Market Revenues & Volume By Product Types for the Period 2020-2030
• Historical Data and Forecast of India Power Convertor Market Revenues & Volume By Low Voltage Power Converter for the Period 2020-2030
• Historical Data and Forecast of India Power Convertor Market Revenues & Volume By High Voltage Power Converter for the Period 2020-2030
• Historical Data and Forecast of India Power Convertor Market Revenues & Volume By Applications for the Period 2020-2030
• Historical Data and Forecast of India Power Convertor Market Revenues & Volume By Electronics for the Period 2020-2030
• Historical Data and Forecast of India Power Convertor Market Revenues & Volume By Industrial for the Period 2020-2030
• Historical Data and Forecast of India Power Convertor Market Revenues & Volume By Infrastructure & Transportation for the Period 2020-2030
• Historical Data and Forecast of India Power Convertor Market Revenues & Volume By Power Utilities for the Period 2020-2030
• Historical Data and Forecast of India Power Convertor Market Revenues & Volume By Others for the Period 2020-2030
• India Power Convertor Import Export Trade Statistics
• Market Opportunity Assessment By Product Types
• Market Opportunity Assessment By Applications
• India Power Convertor Top Companies Market Share
• India Power Convertor Competitive Benchmarking By Technical and Operational Parameters
• India Power Convertor Company Profiles
• India Power Convertor Key Strategic Recommendations