India Power Inverter Market Outlook

According to the report by Expert Market Research (EMR), the India power inverter market reached a value of USD 5.52 billion in 2024 . Aided by the increasing demand for reliable and uninterrupted power supply, coupled with the rapid growth of renewable energy installations and rising electrification across rural and urban regions, the market is projected to grow at a CAGR of 15.00% between 2025 and 2034 , reaching approximately USD 22.33 billion by 2034 .

Power inverters are essential electronic devices that convert direct current (DC) into alternating current (AC), enabling the operation of electrical equipment during power outages or in off-grid applications. They are widely used across residential, commercial, and industrial sectors to ensure continuous power supply. The demand for India power inverter market has surged significantly due to the country's growing dependence on electronic devices, expansion of renewable energy capacity, and the need for sustainable power backup systems.

India Power Inverter Market Size and Share

The India power inverter market has witnessed substantial growth in recent years, primarily driven by the expanding energy demand, infrastructural development, and government focus on renewable power generation. As of 2024, residential consumers accounted for a significant share of the market due to widespread use of home inverters in both urban and semi-urban areas. The commercial and industrial sectors also contribute a notable portion, supported by the rising need for uninterrupted operations in offices, retail spaces, educational institutions, and manufacturing units.

The market is dominated by key players such as Luminous Power Technologies, Microtek International, Su-Kam Power Systems, Exide Industries, and Delta Electronics, who collectively hold a large share of the market. These players are focusing on product innovation, smart inverter technology, and expanding distribution networks to meet the growing energy demands across the country. Additionally, the increasing entry of global brands and local manufacturers has intensified competition, fostering advancements in inverter design, efficiency, and affordability.

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India Power Inverter Market Trends

A major trend shaping the India power inverter market is the increasing adoption of solar-powered inverters. With India’s focus on renewable energy and its ambitious target to achieve 500 GW of non-fossil fuel-based power capacity by 2030, solar inverters have become an integral part of the nation’s energy transformation. The integration of inverters with photovoltaic systems is gaining popularity across residential rooftops, commercial establishments, and industrial units, as consumers seek cleaner and more cost-effective power solutions.

Another key trend is the growing demand for smart and connected inverters equipped with Internet of Things (IoT) and Artificial Intelligence (AI) capabilities. These smart systems allow users to remotely monitor energy usage, battery status, and system performance through mobile applications or cloud-based platforms. Additionally, lithium-ion battery-compatible inverters are gaining traction, replacing conventional lead-acid batteries due to their higher efficiency, faster charging, and longer lifespan.

Moreover, the shift towards hybrid inverters, which combine solar and battery storage, is enhancing power reliability in both rural and urban regions. Hybrid systems not only store excess solar energy but also provide grid support, making them ideal for areas with frequent power disruptions. These evolving technologies are expected to play a crucial role in driving the future of the inverter market in India.

Drivers of Growth

The India power inverter market is being propelled by multiple growth factors, both structural and technological. One of the primary drivers is the increasing frequency of power outages in several parts of the country, especially in rural and semi-urban regions. Despite improvements in power infrastructure, grid instability continues to create a robust demand for power backup systems.

Additionally, rapid urbanisation and the rising disposable incomes of consumers have accelerated the adoption of home inverters. With growing middle-class households and expanding housing projects, the need for uninterrupted electricity to power modern appliances has risen sharply.

The government’s push towards renewable energy and initiatives such as “Make in India” and “Power for All” are further driving inverter demand. Subsidies and incentives for solar installations, combined with declining costs of solar panels, are encouraging households and enterprises to adopt solar inverters. The rising penetration of e-commerce and digital retail channels has also improved product accessibility, allowing consumers in tier-II and tier-III cities to purchase advanced inverter systems with ease.

Furthermore, industrial and commercial expansion, including the growth of IT, telecommunications, healthcare, and data centre sectors, has created a sustained need for reliable power infrastructure. These industries require continuous electricity to prevent operational downtime, which has significantly contributed to the rising installation of large-capacity inverters.

India Power Inverter Market Segmentation

The market can be divided based on rating, application and end use.

Breakup by Rating

• <5KW
• 5kW to 100kW
• 100kW to 500kW
• Above 500kW

Breakup by Application

• Motor Drives
• UPS
• Rail Traction
• Wind Turbines
• EVs/HEVs
• Solar PVs
• Others

Breakup by End Use

• Utilities
• Residential
• Commercial and Industrial
• Automotive and Transportation
• Others

Some of the major players explored in the report by Expert Market Research are as follows:

• ABB Ltd.
• Huawei Technologies Co., Ltd.
• Delta Electronics, Inc.
• SMA Solar India Private Limited
• Genus Power Infrastructures Ltd
• SolarEdge Technologies Inc.
• Others

Challenges and Opportunities

Despite strong growth prospects, the India power inverter market faces several challenges. High initial costs of advanced inverter systems, particularly solar and hybrid models, can deter price-sensitive consumers. Moreover, the dominance of unorganised local manufacturers offering low-cost products creates pricing pressure for established brands, affecting overall market profitability.

Another challenge lies in the lack of consumer awareness about advanced inverter technologies and their long-term benefits. In some regions, limited access to quality after-sales service and spare parts also hinders adoption.

However, these challenges are counterbalanced by significant opportunities. The growing focus on renewable integration , particularly solar and wind energy, opens new avenues for inverter manufacturers. The increasing adoption of electric vehicles (EVs) and the need for energy-efficient charging infrastructure are further expected to stimulate market growth. Additionally, the government's emphasis on smart grid development and rural electrification will create sustained demand for efficient inverter solutions.

India Power Inverter Market Forecast

The India power inverter market is poised for robust expansion over the next decade, supported by favorable government policies, technological innovation, and increasing consumer awareness. By 2034 , the market is expected to reach USD 22.33 billion , growing at a CAGR of 15.00% .

The future of the market will be shaped by the widespread adoption of solar and hybrid inverters , rising demand for smart energy systems, and continued expansion of the renewable energy sector. As urbanization accelerates and digitalization deepens, inverter manufacturers will focus on developing intelligent, connected, and energy-efficient solutions tailored to the evolving power needs of Indian consumers.