Industrial Output and Renewable Energy Integration to Foster Growth for Reactive Power Compensation Market in India: Ken Research

September 2015  

Reactive Power Compensation market in India will continue to grow at a considerable pace in the next few years owing to increased industrialization and need for voltage control in the transmission and distribution network in India. The market is predicted to grow at a CAGR of ~% from FY’2016-FY’2020 and is expected to reach INR ~ crore by FY’2020. The increasing demand of power and the government’s attempts to reduce the power losses in the electrical networks shall drive the need of reactive power compensation equipments. The industrial growth shall be another major contributor towards the augmentation of the reactive power compensation market in India. Rising awareness about the benefits of reactive power compensator to reduce energy losses will drive the growth of the industry in the future. The increasing expenditure on R&D by companies aiming to explore the possibility of innovative technologies which are simple to use, cost-effective is expected to boost the market growth in the future.

Furthermore, with the increase in the electricity consumption and demand, the need for the technology to reduce the losses and increase the quality of power dissipated to the consumers shall augment. This in turn shall contribute to the rising demand of reactive power compensation in the electrical network. The market outlook for the manufacturers shall remain positive on a long term till the power network market of India attains maturity. Since the government has privatized the transmission and distribution market in India, more investments in the market are certain which will foster the growth.

 “While rising disposable income, expanding industrial sector and need to save power will result in increased demand for reactive power compensators, growing competition among the manufacturers and lack of knowledge among end users are among the major challenges which will affect the growth of this industry in the future", according to the Research Analyst, Ken Research".

The report titled "India Reactive Power Compensation Market Outlook to 2020" provides detailed overview on the reactive power compensator market and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, compensator manufacturers, distributors, system integrators and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.