Power Backup Market In India Forecast report 2023

The power backup market in India is expected to grow to INR 504.66 billion by 2023, expanding at a compound annual growth rate (CAGR) of 11.28% during 2018–2023.

 The market in India is characterized by the dominant presence of the unorganized sector, even though there’s hardly enough difference between the price point at which products from the organized and unorganized sectors sell. This is due to the fact that customers are becoming increasingly conscious about what they are buying, the quality, reliability and the impact of the product on its immediate surroundings.

 Product Segment Insights:

  • Diesel Generator: The diesel generator market is anticipated to expand at a CAGR of 8.1%.
  • UPS: The UPS market is expected to expand to INR 99.83 Bn in 2023, at a CAGR of 11.97%.
  • Inverter: The inverter market is expected to expand to INR 277.83 Bn in 2023, at a CAGR of 9.33%.


 Companies Covered:
  • Cummins India Limited
  • Su-Kam Power System Limited
  • Exide Industries Limited
  • Honda Siel Power Products Limited
  • Mahindra & Mahindra Limited
  • Kirloskar Oil Engines Limited
  • Amara Raja Batteries Limited
  • Microtek International Pvt. Ltd.
  • Luminous Power Technologies
  • Ashok Leyland

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