DUBLIN--(BUSINESS WIRE)--The "India Stabilizers Market Size and Share Analysis by Controller Type, Cabinet Type, Phase Type, End-user, Application - Industry Growth and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
In 2021, the India stabilizers market value stood at $676.2 million, from where it is set to witness an 8.1% CAGR over this decade, to reach $1,359.8 million by 2030.
The revenue generated from the sale of servo-controlled variants will likely rise by more than 8% in the coming years, as they offer high durability and better correction speeds. They are widely used to protect the critical equipment in commercial and residential spaces.
As an end user, the residential sector dominates the market with around 40% of the revenue generation. Since the voltage of the domestic supply frequently fluctuates, electrical appliances require stabilizers to function smoothly and elongate their lives. In this regard, the rampant construction of housing and electrification in rural areas are propelling stabilizer sales across the country.
This India stabilizers market trend is most visible in the non-metro cities, which have been witnessing high-paced urbanization of late. In fact, major e-commerce portals, such as Flipkart and Amazon, receive 60% of their orders from tier II, III, and IV cities. People in these urban and semi-urban areas are increasingly demanding washing machines, large-screen TVs, ACs, and refrigerators.
Currently, Tamil Nadu is the largest buyer of voltage stabilizing devices, because its power supply is characterized by frequent voltage fluctuations and power cuts. Moreover, it is home to numerous metro and non-metro cities that have a high count of commercial, industrial, and residential facilities, all of which require stabilizers.
Over this decade, an over 9% CAGR, the highest in the country, is expected in Uttar Pradesh. The most-populous state in the country, it naturally witnesses a massive sale of home appliances, most of which need stabilizers. Moreover, as per the Ministry of Power, the electrification rate in the state, considering the overall grid connectivity in all the cities and urban and semi-urban areas, is almost 100%.
One of the biggest reasons behind the growth of the India stabilizers market is the government initiatives aimed at boosting domestic manufacturing. Such programs essentially seek to make it easier for homebred and international industrialists to set up their production plants, warehouses, and R&D centers in the country. The critical nature of most of the factory machines makes it imperative to supply electricity at a constant voltage, which is why the market is growing.
Mainline voltage stabilization is the biggest application in the market because installing just one mainline stabilizer takes care of the voltage being supplied to the entire facility, be it a house, shopping mall, hotel, or factory. Thus, this approach eliminates the need to have one voltage stabilizing device for every appliance, which also helps users save on installation and maintenance expenses.
The AC category, within the application segment, will witness the fastest India stabilizers market advance, because ACs are vulnerable to power variations. Moreover, much of India has a hot and humid climate, which has been driving AC sales at a high rate. In this regard, the rising disposable income in smaller cities is allowing market players to prosper.
Market Dynamics
Trends
- Technological advancements
Drivers
- Development of smart cities
- Investments under the 'Make in India' and 'Invest India' initiatives
- Surge in demand for consumer appliances from tier II, III, and IV cities
Restraints
- Price hike of appliances
- Emergence of stabilizer-free appliances
Impact of COVID-19
Value Chain Analysis
Porter's Five Forces
Companies Mentioned
- V-Guard Industries Ltd.
- MICROTEK
- Everest Stabilizers Private Limited
- Bluebird Power Controls Pvt. Ltd.
- Monitor Voltage Stabilizer
- Purevolt
- Servomax Limited
- Jindal Electric
- Pulstronics India
- Syspro Technics
- LIVGUARD Technologies Private Limited
- Luminous Power Technologies Pvt. Ltd.
- IFB Home Appliances
For more information about this report visit https://www.researchandmarkets.com/r/kv5fd9
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