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India Stabilizers Market Size To Cross $1,300 Million by 2030, Says P&S Intelligence

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India Stabilizers Market Size To Cross $1,300 Million by 2030, Says P&S Intelligence

August 26
18:09 2022
India Stabilizers Market Size To Cross $1,300 Million by 2030, Says P&S Intelligence
Residential stabilizers generated approximately 40% of the stabilizer sales revenue in the country in 2021, and product sales to residential users are expected to witness a similar trend during 2021–2030.

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.

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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.

Browse full report at: https://www.psmarketresearch.com/market-analysis/india-stabilizers-market

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 Size Breakdown by Segment

By Controller Type

  • Relay-Type
  • Servo-Controlled
  • Static

By Cabinet Type

  • Plastic-&-Metal Cabinet
  • Fully Metal Cabinet

By Phase Type

  • Single-Phase
  • Three-Phase

By End User

  • Packaging
  • Automotive
  • Construction
  • Electronics
  • Commercial
  • Residential
  • Others

By Application

  • Mainline
  • AC
  • TV
  • Washing Machine
  • Refrigerators
  • Others

By State

  • Madhya Pradesh
  • Tamil Nadu
  • Karnataka
  • Gujarat
  • Maharashtra
  • Uttar Pradesh
  • West Bengal
  • Delhi
  • Rajasthan
  • Bihar
  • Haryana
  • Chhattisgarh
  • Uttarakhand
  • Punjab
  • Jharkhand
  • Assam
  • Tripura
  • Rest of India

Browse More Reports Published by P&S

Solid-State Battery Market Research Report by Capacity, Battery Type, Application – Industry Development and Demand Forecast to 2030

Energy Storage Market Research Report by Type (Mechanical, Electrochemical, Thermal, Chemical) – Industry Development and Demand Forecast to 2030

About P&S Intelligence 

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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Country: India
Website: https://www.psmarketresearch.com/market-analysis/india-stabilizers-market

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