Key Highlights

• The India stabilizers market was valued at USD 784.8 million in 2023, and it will increase to USD 1,377.7 million, powering at more than 8.0% compound annual growth rate, by 2030.
• The rising need for electronic products across smaller cities is a major factor for the industry expansion.
• The requirement for consumer appliances like TVs, refrigerators, and ACs, has surged in the past few years, particularly post the pandemic of COVID-19 because people continue working remotely from their residents.
• This has led to a substantial rise in the average sales rate of home comfort goods.
• The need for split ACs in tier-II cities as well as towns is 12% higher compared to tier-I cities. Premium products like big-screen TVs, washing machines, high-capacity refrigerators, and AI- and IoT-driven goods, are in robust demand in smaller cities.
• Technological improvements are a key trend being observed in this industry. Players in this industry are mainly involved in R&D activities.
• Players are working on IoT-based automated stabilizers because they can be employed for various effective services and smart networking, devices, or applications.
• The utilization of automatic voltage regulators in this nation is likely to increase during this decade because the adoption of IoT technology has increased.

Market Insights

Servo-controlled stabilizers will propel at the highest compound annual growth rate, of approximately 8.8%, in the years to come.

This is because of the increasing customer consciousness regarding appliance rating structures, the many benefits of higher-rating goods, and the great durability, reliability, and greater correction speed of this type.

The residential category was the largest contributor to the industry in 2023, with approximately 40% share, and it will continue this trend throughout this decade.

This is because of the robust requirement for steadying the voltage changes in the power supply of tall residential buildings and even for various electrical devices in individual homes.

The AC category is likely to advance at the fastest CAGR, of more than 9.0%, in the coming years, because of the high AC sales, which must be defended from voltage variations, for the finest and power-efficient operations.

The mainline stabilizers led the industry in 2023, with over 30% share, and it will remain leading throughout this decade.

Different stabilizers for different appliances are not essential if a mainline stabilizer is employed because it stabilizes the electric supply at the initial point, therefore decreasing the purchase and upkeep expenditures for owners.

Tamil Nadu accounted for the largest share of the industry in 2023, of approximately 35% share. This is because of the large count of local manufacturers, its enormous population, the high occurrence of power supply fluctuations, and the existence of many buildings in this state.

Uttar Pradesh will propel at the fastest CAGR, of approximately 8.2%, in the years to come. This can be primarily because of the rising count of electricity connections in this state, particularly in villages, where the electric supply fluctuates.

The India stabilizers industry is highly fragmented, because of the existence of many international and domestic companies. The continuous arrival of new players is impacting the new as well as recognized service providers.

Source: P&S Intelligence