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India Switchgear (LV, MV, HV) Market Overview, 2027-28
India Switchgear market is expected to grow with a CAGR of more than 5% in the forecasted period of next 5 years from FY 2022-23 to FY 2027-28. Switchgear market is mainly divided in Low Voltage Switchgear, Medium Voltage Switchgear and High Voltage Switchgear market. Low Voltage Switchgear market is dominating in India from more than last 5 years and it will continue to dominate. Low Voltage Switchgear market is formed by commercial, residential buildings, real estate industry, and construction sector. Medium and High Voltage Switchgear is expected to have stagnant growth during the forecast period 2023.In India by region, North and South region combine covers more than 55% market share of India Switchgear Market.Major companies that operate into the Switchgear market in India are ABB India Limited, Larsen & Toubro Limited, Havells India Limited, Siemens India, Schneider Electric Infrastructure Limited, Anchor Electricals Private Limited, GE T&D India Limited, Toshiba Transmission & Distribution Systems (India) Private Limited, and Legrand India Private Limited.
Considered for the Report:
- Geography: India
- Base Year: FY 2021-22
- Estimated Year: FY 2022-23
- Forecast Year: FY 2027-28
Objective of the study:
- To present an Indian outlook on Switchgear industry.
- To analyze and forecast the market size of India Switchgear, in terms of value.
- To analyze and forecast the market size of India Switchgear, in terms of volume.
- To define, classify and forecast Switchgear market on the basis of segments like India Low Voltage Switchgear, India Medium and high Voltage Switchgear.
- To further define and forecast India Switchgear Market on the basis of Product type Contactors, MCB, MCCB, Overload Relays, HRC Fuses, Relay and Timers, ACB and Motor Starters.
- To strategically profile leading players, which are operating in the Switchgear industry of India
Approach for the Report:
The publisher performed primary as well as secondary research for this study. Initially, a list of manufacturers and suppliers operating in the Switchgear market of India were sourced through secondary sources. With the identified companies and consumers, primary research was carried out which included conducting online surveys, competitor analysis and exhaustive personal interviews - both face to face as well as telephonic basis, to extract maximum information from participants like industry executives/distributors or consumers. Primary research gave us an idea of company revenues, export, pricing, geographical presence, channel partner model, USP etc. and also helped us to identify various small players who otherwise have less presence on the web.The publisher seeks secondary data from third-party sources such as published articles, company websites, magazine articles, associations, trade journals, annual reports, government official websites and other paid database sources. In addition, data is also mined from a host of reports in our repository, as well as a number of paid databases of Indian government. Using both primary and secondary information, the publisher calculated the market size through a bottom-up approach, where manufacturers’ value sales data for different types of Switchgear were recorded and subsequently forecasted for the future years.
Scope of the Report:
India Switchgear (LV, MV, HV) Market Overview, 2027-28, discusses the following aspects of Switchgear market in India:
- India Switchgear Market Outlook
- India Switchgear Market Size By Value & Forecast
- India Switchgear Market Size By Volume& Forecast
- India Switchgear Market Segmental Analysis: By Segment, By Company, By End User, By Region
- India Low Voltage Switchgear Market Size By Value& Forecast
- India Low Voltage Switchgear Market Size By Volume& Forecast
- India Medium and High Voltage Switchgear Market Size By Volume& Forecast
- India Medium and High Voltage Switchgear Market Size: By Value& Forecast
- Product Price & Variant Analysis
- key Vendor operating in the Industry
Intended Audience:
This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to Switchgear industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.Table of Contents
Executive Summary
India- World’s third largest electricity producer; whose production levels are not enough to meet the rising demand
Power is one of the most critical components of infrastructure crucial for the economic development and welfare of countries. Electricity demand in the country has increased rapidly and is expected to rise further in the years to come. In order to meet the increasing demand for electricity in the nation, enormous addition to the installed generating capacity is required.
The presence and advancement of adequate infrastructure is essential for sustained growth of the Indian economy. India’s power sector is one of the most diversified in the world. Sources of power generation range from traditional sources, such as coal, lignite, natural gas, oil, hydro and nuclear power to viable non-conventional sources such as wind, solar, agricultural and domestic waste. Switchgear is necessary from the point of production of electricity to end users. As the production units are using switchgear for the transmission and distribution purpose, industries application, substations, Circuit Breaker, etc. Air Insulated Switchgear, Gas Insulated Switchgear, Mixed technology (compact/hybrid solutions) are the main type of switchgear for High Voltage Switchgear. Electricity demand in India is on a climbing way, attributable to large scale industrialisation, infrastructure, power, real estate, and increased foreign investment in different sectors including manufacturing. Transmission and distribution segments in the country have ramped up their capacity addition programmes in the last two years with ambitious targets.
According to the report 'India Switchgear (LV, MV, HV) Market Overview, 2018-2023', India overall market for Switchgear Industry is anticipated to grow more than 7% at the end of forecast period. Low Voltage Switchgear will be in dominance for the forecast period in switchgear Industry. In specific Medium and High Voltage switchgear market, Medium Voltage Custom Built products are in the dominance and are anticipated to be in dominance for the forecast period. Region-wise, North and South contribute more than 60% in the total market in the year 2016-17. LV switchgear has grown with less than 5% of CAGR in volume terms during review period. Besides, MV and HV switchgear is anticipated to have CAGR of more than 8% from 2017-18 to 2022-23.
India ranks third among 40 countries in EY’s Renewable Energy Country Attractiveness Index, on back of strong focus by the government on promoting renewable energy and implementation of projects in a time bound manner.In September 2017, the Government of India launched the Saubhagya scheme to provide electricity connections to over 40 million families in rural and urban areas by December 2018 at a cost of US$ 2.5 billion.The Government of India has released its roadmap to achieve 175 GW capacities in renewable energy by 2022, which includes 100 GW of solar power and 60 GW of wind power. Wherever there is electricity, switchgear is needed, so increasing electricity demand increases the switchgear demand, which is driving the market.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABB India Limited
- GE T&D India Limited
- Havells India Limited
- Larsen & Toubro Limited
- Schneider Electric Infrastructure Limited
- Siemens Limited
