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Indian Low Voltage (LV) Switchgear Market
Frost & Sullivan, Dec 2011, Pages: 71
With over 40 participants, the Indian low voltage (LV) switchgear market is highly competitive and price sensitive. The research service discusses the markets for air circuit breaker (ACB), moulded case circuit breaker (MCCB), contactors and relays (C&R), miniature circuit breaker (MCB), residual current devices (RCD), distribution boards (DB), changeover switches (COS), and other switching devices (other SDs). The demand for LV switchgear components comes predominantly from end-user segments such as industries, commercial and residential segments, and other infrastructure projects (ports/airports). The Indian LV switchgear market is estimated to grow at a CAGR of 12.5 percent from 2010 to 2017.
Market Overview
Indian Low Voltage Switchgear Market Gearing Up for a Surge in Demand
Increased Investment in the Expansion of Transmission Networks, Infrastructure and Industrial Developments Help the Markets Rebound from the Downturn
Both the low voltage (LV) and medium voltage (MV) switchgear markets in India are well established, with a mature technology base and considerable demand from end-user segments such as industrial, construction (residential/ commercial), power generation, and transmission and distribution (T&D) utilities. Market participants have charted out organic/inorganic growth plans to capitalize on the various anticipated expansion and development plans across end-user segments. “Growth in key sectors such as oil and gas, petrochemicals, steel, cement, and telecom and investments in the development of huge commercial and residential corridors across the country will raise energy consumption,” says the analyst of this research. “The major participants in the LV switchgear space are fitting out their manufacturing facilities to adapt to this change.” Global companies are obtaining or upgrading technology from their parent company, while local participants are procuring technology through acquisition or technology transfer.
Industries and T&D utilities across the country have upped their demand for space optimization and efficient switching, and prominent end-user industries are investing heavily in indoor and gas-insulated switchgears. While the major manufacturers in the MV market are all set to diversify their offerings, others are acquiring technology to address the future demand for environment-friendly, compact, and efficient MV switchgear. Despite the market demand, the huge discount structure erodes the top and bottom line of organized participants. Pricing pressures due to high competition and customers’ bargaining power impede the overall growth of the LV and MV switchgear markets. Raw materials including steel, copper, and silver form a major cost component in the manufacturing of LV and MV switchgears and any fluctuation in their prices will have a direct impact on equipment prices. “It is challenging for participants to hedge against price fluctuations, maximize margins, and still be competitive,” notes the analyst. “The price wars triggered by tier II and tier III suppliers can be offset to some extent by focusing on adopting best practices to improve production efficiencies and achieving economies of scale to reduce production costs and maintain profit margins.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Air circuit breakers
- Molded case circuit breakers
- Miniature circuit breakers
- Residual current devices
- Contactors and relays
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