India Switchgear Market to be Dominated By Commercial and Industrial Sectors Through 2028
Increasing demand for electricity and
booming installation of smart switchgears is expected to drive the India Switchgear
market.
According to
TechSci Research report, "India Switchgear Market - By Region,
Competition Forecast & Opportunities, 2018-2028, the India Switchgear
market is anticipated to register a robust growth during the forecast period,
2024-2028", owing to rising environmental concerns, government initiatives,
and investments for research initiatives to minimize reliance on fossil fuels. The
increasing energy demands across various end-use industries have led to an
increased focus on integrating advanced electric solutions to overcome the
situation.
Additionally, with
the promotion of digital transformation (DX) and growing network traffic using
5G across the country. Industrialists are preferring to adopt smart switchgears
and digital switchgears to further enhance their capabilities. Furthermore, infrastructure
and construction setups projects such as smart cities are also growing, which
are one of the primary factors for the proliferation of more electricity demand.
The high usage for switchgear solutions across agriculture, energy and utility
sector has become one of the important factors for increasing the growth of switchgear’s
offering cutting edge services to the customers. Moreover, the growing need for
high voltage and ultra-high voltage switchgears in commercial and industrial
sectors are exponentially increasing, which positively affects the
market’s growth and is expected to boost the growth of the India Switchgear market
across the region.
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market data Figures spread through XX Pages and an in-depth TOC on "India Switchgear Market"
India Switchgear
market is segmented into insulation, installation, voltage, current, enclosure,
end-user, and region. Based on insulation, the market is bifurcated into air
insulated, gas insulated, and others. Based on installation, the market is
segmented into indoor and outdoor. Based on voltage, the market is segmented
into low (up to 1 kV), medium (between 1.1 kV and 40 kV) and high (above 40 kV).
Based on current, the market is bifurcated into alternating current (AC), direct
current (DC). Based on enclosure, the market is further divided into MCB &
MCCB, RCCB & ELCB, ACB, DB and other switching devices. Based on end-user,
the market is further segmented into commercial, residential, transmission
& distribution utilities, industrial and others.
Based on insulation type, gas insulated switchgear (GIS) is expected to
dominate the India switchgear market as they are more reliable,
environment-friendly, and flexible compared to air-insulated switchgear (AIS)
and require less maintenance and minimal space for conventional substations.
Additionally, business is being significantly stimulated by the expanding
application of GIS in power transmission and the integration of renewable power
production units in grids. Moreover, rising urbanization and industrialization
rates and various government initiatives to decrease carbon emission, along
with the expansion of the electrical grid are furthermore driving the demand of
gas insulated switchgear and increasing the growth of switchgear in the Indian
market.
Based on voltage, low voltage (LV) switchgear is expected to dominate
the market for switchgear in India due to the wide deployment in distribution
network along with the high fault enduring capacity and large-scale investment
by the government in power utility have grown significantly in India. Additionally,
extensive use of low voltage switchgear applications is commonly used to supply
power to LV-MCCs, low-voltage switchboards, and other branch and feeder
circuits in residential and commercial sectors. Businesses in the varied sector
water treatment, manufacturing, utility, petrochemicals, pulp and paper,
mining, and metals, data center, and healthcare sectors are utilizing
applications of low voltage switchgears as electrical applications can be safeguarded
against short circuit and overload by an electrical circuit breaker. As a
result, the market for switchgear in India is growing along with the growth in LV
switchgear demand.
Key market players
in the India Switchgear market:
- ABB
India Limited
- Larsen & Toubro Limited
- C&S Electric Limited
- Siemens Limited
- Schneider Electric Infrastructure
Limited
- CG Power and Industrial Solutions
Limited
- HPL Electric and Power Limited
- Havells India Ltd.
- Legrand India Pvt. Ltd.
- GE T&D India Limited.
Recent Development
- On December
05, 2022; Fuji Electric Co., Ltd announced the launch of switchgear for the
global market that saves space. The VC-V20A-1 switchgear of IEC 62271-200 applicable
standard rated voltage of 24 (Kv) with standard dimension of 800 mm width and
2350 mm height can optimize the insulation structure to reduce the footprint by
20%.
- On October
27, 2021; Panasonic Life Solutions India, one of the largest manufacturers of
electrical construction materials announced the introduction of ‘UNO Plus’
Series, a premium addition to the switchgear portfolio. The new UNO Plus range
consists of Miniature Circuit Breaker (MCB), Residual Current Operated Circuit
Breaker (RCCB) and the Distribution Boards (DB). The all-new UNO Plus
Switchgear series has been designed to provide utmost security and safety while
maintaining quality and superior design to ensure a well-rounded finish.
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“Ongoing advancements for
integration in energy generation capacity with the grid, increasing penetration
of IoT enabled smart switchgears and rising demand of electricity development
are expected to boost the India Switchgear Market during the forecast period. Moreover,
several developments in the switchgears such as hybrid switchgears as per
industry demand and rapid urbanization and industrialization is a boosting
factor for driving revenue growth of the switchgear market in India. Moreover, supportive
government policies, incentives, and favorable project such as Make in India, UDAY
(Ujwal DISCOM Assurance Yojana), IPDS (Integrated Power Development Scheme),
DDUGJY (Deen Dayal Upadhyaya Gram Jyoti Yojana) and “Power for All” all over
the country with increasing digitalization has also been positively influencing
the market with a continuous urge for launching new service plans in the
upcoming years, said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“India Switchgear Market Segmented by DC Voltage Type
(400V, 600V, 1000V & 1500V), By Installation Mode (Ground Mounted and
Rooftop), By End User (Industrial, Commercial and Residential), By Module Type
(Monocrystalline, Polycrystalline and Thin Film), By Type (Circuit
Configuration, Module Mounting Systems, Solar Charge Controllers and Others), By
Region, Competition” has evaluated the future growth potential of India Switchgear market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Switchgear market.
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