India Power Electronics Market Size & Share Analysis - Emerging Trends, Growth Opportunities, Competitive Landscape, and Forecasts (2026

Description

The India power electronics market is experiencing steady growth as rising demand for energy-efficient systems, expanding industrial automation, and increasing adoption of electric and electronic equipment drive market development across the country. The market is valued at USD 2.9 billion in 2025 and is projected to reach USD 4.3 billion by 2032, growing at a CAGR of 5.9% during the study period from 2019 to 2032. Growth in renewable energy integration, electric mobility, and power management applications is supporting sustained market expansion.

Power electronics play a critical role in converting, controlling, and managing electrical power across applications such as consumer electronics, industrial machinery, automotive systems, renewable energy, and power infrastructure. Advancements in semiconductor devices, improved efficiency standards, and rising demand for compact and reliable power solutions are strengthening market adoption. Government initiatives promoting electrification, energy efficiency, and domestic manufacturing are further reinforcing market momentum.

Maharashtra represents the largest state-level market, supported by strong industrial activity, electronics manufacturing presence, and demand from automotive and power sectors, while Gujarat is emerging as the fastest-growing state due to rapid industrialization, renewable energy deployment, and expanding manufacturing investments. As India continues to modernize its power and electronics ecosystem, the power electronics market is expected to maintain consistent growth throughout the forecast period.

Key Insights

The India power electronics market is valued at USD 2.9 billion in 2025 and is expected to reach USD 4.3 billion by 2032, reflecting steady long-term growth driven by expanding power management needs.

The market is projected to grow at a CAGR of 5.9% during 2019-2032, supported by rising demand for energy-efficient and reliable electronic systems.

Increasing adoption of power electronics in industrial automation, renewable energy, and electric vehicles is strengthening market demand.

Maharashtra accounts for the largest share of the market, driven by strong industrial base and electronics manufacturing activity.

Gujarat is the fastest-growing state, supported by rapid industrial expansion and increasing renewable energy and infrastructure projects.

Advancements in power semiconductor technologies are improving efficiency, performance, and application flexibility.

Growing focus on energy efficiency and power quality is influencing adoption across multiple end-use sectors.

Expansion of renewable energy and electric mobility is increasing demand for advanced power conversion solutions.

Government support for electronics manufacturing and energy transition initiatives is reinforcing long-term market development.

Continued investment in power infrastructure, technology innovation, and manufacturing capacity is expected to sustain long-term growth in the India power electronics market.

Product Code: 13877

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market Size Breakdown, by Material
- 1.4.2. Market Size Breakdown, by Product
- 1.4.3. Market Size Breakdown, by Voltage
- 1.4.4. Market Size Breakdown, by Vertical
1.5. Market Data Reporting Unit
- 1.5.1. Revenue
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence Database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Industry Background
5.2. Market Dynamics
- 5.2.1. Trends
- 5.2.2. Drivers
- 5.2.3. Restraints/Challenges
- 5.2.4. Emerging Economies and Key Opportunities
- 5.2.5. Impact Analysis of Drivers/Restraints
5.3. Sociopolitical Impact
5.4. Porter's Five Forces Analysis
- 5.4.1. Bargaining Power of Buyers
- 5.4.2. Bargaining Power of Suppliers
- 5.4.3. Threat of New Entrants
- 5.4.4. Intensity of Rivalry
- 5.4.5. Threat of Substitutes
5.5. Lifecycle Analysis
5.6. Innovation and Technology Trends
5.7. Economic and Regulatory Impact
5.8. Market Entry Strategies

Chapter 6. Competitive Landscape

6.1. List of Market Players and their Offerings
6.2. Market Share of Key Players (2025)
6.3. Competitive Benchmarking of Key Players
6.4. Product Benchmarking of Key Players
6.5. Recent Strategic Developments by Key Players
6.6. Company Leadership Matrix

Chapter 7. Maharashtra Market

7.1. Overview
7.2. Market Revenue, by Material (2019-2032)
7.3. Market Revenue, by Product (2019-2032)
7.4. Market Revenue, by Voltage (2019-2032)
7.5. Market Revenue, by Vertical (2019-2032)
7.6. Market Revenue, by Country (2019-2032)

Chapter 8. Tamil Nadu Market

8.1. Overview
8.2. Market Revenue, by Material (2019-2032)
8.3. Market Revenue, by Product (2019-2032)
8.4. Market Revenue, by Voltage (2019-2032)
8.5. Market Revenue, by Vertical (2019-2032)
8.6. Market Revenue, by Country (2019-2032)

Chapter 9. Karnataka Market

9.1. Overview
9.2. Market Revenue, by Material (2019-2032)
9.3. Market Revenue, by Product (2019-2032)
9.4. Market Revenue, by Voltage (2019-2032)
9.5. Market Revenue, by Vertical (2019-2032)
9.6. Market Revenue, by Country (2019-2032)

Chapter 10. Gujarat Market

10.1. Overview
10.2. Market Revenue, by Material (2019-2032)
10.3. Market Revenue, by Product (2019-2032)
10.4. Market Revenue, by Voltage (2019-2032)
10.5. Market Revenue, by Vertical (2019-2032)
10.6. Market Revenue, by Country (2019-2032)

Chapter 11. Haryana Market

11.1. Overview
11.2. Market Revenue, by Material (2019-2032)
11.3. Market Revenue, by Product (2019-2032)
11.4. Market Revenue, by Voltage (2019-2032)
11.5. Market Revenue, by Vertical (2019-2032)
11.6. Market Revenue, by Country (2019-2032)

Chapter 12. Delhi Market

12.1. Overview
12.2. Market Revenue, by Material (2019-2032)
12.3. Market Revenue, by Product (2019-2032)
12.4. Market Revenue, by Voltage (2019-2032)
12.5. Market Revenue, by Vertical (2019-2032)
12.6. Market Revenue, by Country (2019-2032)

Chapter 13. Uttar Pradesh Market

13.1. Overview
13.2. Market Revenue, by Material (2019-2032)
13.3. Market Revenue, by Product (2019-2032)
13.4. Market Revenue, by Voltage (2019-2032)
13.5. Market Revenue, by Vertical (2019-2032)
13.6. Market Revenue, by Country (2019-2032)

Chapter 14. Rajasthan Market

14.1. Overview
14.2. Market Revenue, by Material (2019-2032)
14.3. Market Revenue, by Product (2019-2032)
14.4. Market Revenue, by Voltage (2019-2032)
14.5. Market Revenue, by Vertical (2019-2032)
14.6. Market Revenue, by Country (2019-2032)

Chapter 15. Telangana Market

15.1. Overview
15.2. Market Revenue, by Material (2019-2032)
15.3. Market Revenue, by Product (2019-2032)
15.4. Market Revenue, by Voltage (2019-2032)
15.5. Market Revenue, by Vertical (2019-2032)
15.6. Market Revenue, by Country (2019-2032)

Chapter 16. Andhra Pradesh Market

16.1. Overview
16.2. Market Revenue, by Material (2019-2032)
16.3. Market Revenue, by Product (2019-2032)
16.4. Market Revenue, by Voltage (2019-2032)
16.5. Market Revenue, by Vertical (2019-2032)
16.6. Market Revenue, by Country (2019-2032)

Chapter 17. Company Profiles

Chapter 18. Appendix

18.1. Sources and References
18.2. Related Reports

India Power Electronics Market Size & Share Analysis - Emerging Trends, Growth Opportunities, Competitive Landscape, and Forecasts (2026 - 2032)