Electrification drive boosts inverter-battery industry

Sector expects 10% CAGR as more households get electricity connection

The government’s promise to deliver ‘24x7 power for all’ would reap benefits for the power back-up industry. The inverter-battery segment expects cumulative growth of close to 10 per cent annually in the coming years as more households, urban and rural, get electricity connections.

The industry estimates the market size at five million inverters and 12 mn batteries annually. “The market grows between five and 10 per cent every year,” said an executive. Others say as grid electricity reaches tier-2 and tier-3 cities, and rural households, it spurs demand for back-up. “We largely expect growth to continue to be in line