India Inverter Duty Transformer Market Forecast and Competitive Landscape Report 2025-2030: Government Initiatives Propel Expansion, Solar Applications Lead Revenue Growth
India's inverter duty transformer market is poised for substantial growth, fueled by rapid expansion in renewable energy, specifically solar and wind. In 2022, India achieved a 9.83% growth in renewable energy, with solar capacity surging 30-fold to 92.712 GW by Sept 2024. This growth will drive the inverter duty transformer market at a projected CAGR of 11.1% from 2024-2030. Government initiatives like PM-KUSUM and significant budget allocations bolster this sector, ensuring robust demand for efficient power conversion solutions.
Dublin, May 28, 2025 (GLOBE NEWSWIRE) -- The "India Inverter Duty Transformer Market | Value, Forecast, Outlook, Size & Revenue, Analysis, Companies, Segmentation, Trends, Growth, Industry, Competitive Landscape, Share: Market Forecast By Power Ratings, By Application, By Phase and Competitive Landscape" has been added to ResearchAndMarkets.com's offering.
India Inverter Duty Transformer Market revenues are projected to grow at a CAGR of 11.1% from 2024 to 2030.
The India inverter duty transformer market is experiencing robust growth, largely driven by the rapid development of the nation's renewable energy sector. This growth is underpinned by India's commitment to reducing carbon emissions, as evidenced by a 9.83% year-on-year increase in renewable energy in 2022. Over the past nine years, the country's solar energy capacity multiplied 30-fold, reaching 92.712 GW by September 2024.
As of October 2024, India's renewable energy capacity surpassed 203 GW, with substantial contributions from solar and wind energy, measuring 92.12 GW and 47.72 GW, respectively. India's goal to achieve 500 GW of non-fossil fuel-based energy by 2030, alongside a reduction of 1 billion tons of carbon emissions, underscores the demand for efficient power conversion systems like inverter duty transformers.
Key government initiatives like PM-KUSUM, Solar Rooftop Phase II, and the Solar Park Scheme aim for a 38 GW capacity by 2026, significantly advancing renewable energy adoption. The Union Budget 2024-25 allocated ?10,000 crore for solar projects and introduced the PM-Surya Ghar Muft Bijli Yojana with ?75,000 crore to enhance solar energy penetration in rural areas. Investments are also geared towards developing transmission networks to integrate 500 GW of renewable energy by 2030, emphasizing the critical role of inverter duty transformers in stabilizing and converting renewable energy into grid-compatible power.
Market Segmentation By Power Rating
The 5.1 to 10 MVA segment is expected to drive significant revenue growth, fueled by demand from mid-sized commercial and industrial solar projects and medium-capacity wind installations. This power range is ideal for commercial-scale solar farms and industrial complexes, offering versatility for both grid-connected and off-grid systems.
Market Segmentation By Application
Solar is anticipated to hold the highest revenue share in India's Inverter Duty Transformer market. Large-scale projects such as the Pavagada and Bhadla Solar Parks, alongside the government's National Solar Mission, are pivotal in achieving 500 GW of renewable energy by 2030. The increase in rooftop solar installations bolsters demand further, ensuring long-term growth for the sector.
Market Segmentation By Phase
Three-phase inverters are likely to dominate due to their superior economies of scale, offering better load balancing and lower operational costs. They are essential for large-scale projects, such as ReNew Power's 1.5 GW solar and Adani Green's wind farms, ensuring efficient energy distribution. Their long lifespan and reduced maintenance make them a preferred choice for industrial and commercial applications.
Key Highlights of the Report:
Market Overview and Outlook
Market Forecast
Historical Data and Forecast of Market Revenues for 2020-2030
Industry Life Cycle
Market Dynamics: Drivers and Restraints
Trends and Evolution
Opportunity Assessment by Service Type and Verticals
Revenue Share by Top 3 Companies
Market Competitive Benchmarking
Company Profiles and Strategic Recommendations
Tesla Power Equipments and Projects Private Limited
Danish Power Limited
Raychem RPG Private Limited
Shilchar Technologies Ltd.
Ornet Transformers llp
Uttam Bharat Electricals Pvt. Ltd.
Telawne Power Equipments Private Limited
Nucon Switchgears Pvt. Ltd.
INDCOIL Pvt Ltd.
Esennar Transformers
Elmag Transformers
Servokon Systems Limited
Kalpa Electrikal Pvt Ltd
Hammond Power Solutions
Transformers & Rectifiers (I) Limited
By Power Ratings
Below 5 MVA
5.1-10 MVA
Above 10 MVA
By Application
Solar
Wind
Hybrid
Energy Storage Systems (ESS)
By Phase
Single Phase
Three Phase
For more information about this report visit https://www.researchandmarkets.com/r/xepg5z
About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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