Report Description

Forecast Period

2023-2028

Market Size (2022)

USD 1042.33 Million

CAGR (2023-2028)

5.13%

Market Size (2028)

USD 1431.50 Million

Fastest Growing Segment

Gas Insulated

Largest Market

South India


India Switchgear Market is growing owning to increasing adoption of smart switchgear and rising investment in developing renewable energy along with government regulations or subsidies. The increasing energy demands across various end-user industries have led to an increased focus on renewable energy solutions that has enabled the adoption of smart switchgears in the region. Moreover, innovations in smart grid technologies and growing focus toward environmental protection have further boosted the demand for switchgear. Surging demand for safe and secure control distribution systems and advanced monitoring units is increasing the capability for switchgear. Many enterprises are adopting switchgear as a cost-effective solution. Moreover, government assistance in the form of installation cost subsidies and tax breaks, high reliability and efficiency, modular structure with reduced maintenance requirements, performance enhancement through technological advancements; and increased penetration of smart switchgear and hybrid switchgears for smart cities in developing economies are driving the market. Additionally, 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 India Switchgear market during the forecast period.

Electrical switchgear or switchgear refers to a centralized collection of circuit breakers, fuses, and switches (circuit protection devices) that act to safeguard, regulate, and isolate electrical equipment. These circuit protection devices are mounted in metal constructions and they distribute power to various sections of a facility and the electrical loads within those sections. A collection of one or more of these structures is called a switchgear line-up or assembly. Switches are connected directly to the supply system by placing in the low & high voltage planes of the power transformer. The device de-energizes to clear the fault, test & maintain. These devices are critical in the power system to protect the equipment from the heavy current. Manual control provision, , entire reliability, and manual control provision are some of the features of the switchgear. The fundamental purpose of switchgear is protection, which is the termination of short-circuit, overload fault currents while preserving service to unaffected circuits and to enhance system availability by providing several sources to feed a load. Switches can function in both normal and abnormal conditions that can operate for proper electrical energy utilization and can be installed in residential, commercial, and industrial structures places, etc.

The Growth in Investments in Renewable Energy

The rapid growth in investment in renewable energy infrastructure and power generation capacities is expected to drive the India switchgear market during the forecast period. The rapid expansion of the market is attributed to the growing number of association and enterprises that are taking initiatives to invest in renewable energy sources. For instance, according to the India Brand Equity Foundation (IBEF), renewable energy for new power generation capacity attracted with investment in renewable energy in India reached around USD 14.5 billion in 2022, an increase of 125% over 2021 and 72% higher than in the pre-pandemic period of the 2019-20 financial year. Additionally, to support and promote the development of high-efficiency Low Voltage (LV) switchgear module, the government of India started the PLI in 2021 with an investment of INR 4,500 crore or USD 615.71 Million for enhancing India’s manufacturing capabilities and enhancing exports. According to the “National Programme on High-Efficiency Solar PV Modules” the national government had allocated an additional INR 19,500 crore or USD 2,668 Million in 2022 to lessen reliance on imports and enhancing the capability of renewable energy. Thus, the growth in the investment in renewable energy for infrastructure setup has increased the demand of switchgear in the market.

Emerging Digitalization and Digitalized Switchgear

The substation and switchgear industry are set to grow rapidly in the coming years with the increase in digitalization. Several technological solutions have emerged that have contributed significantly to enhancing the operational efficiency of utilities and to scaling down costs, making projects more viable. Digital switchgear and substations are one such solution which offers a range of benefits to utilities. To begin with, they are equipped with advanced software solutions that protect systems from potential cyber threats, thereby, strengthening system security. Furthermore, all the auxiliaries of the digital switchgear are automated, enabling faster implementation of future technological solutions. Moreover, since utilities can track real-time data from substations and remotely control specific functions of the switchgear, it provides operational and financial benefits. Real-time monitoring of data also reduces outage time and increase reliability of the system. In addition, digital substations and switchgears possess backward compatibility, which enables the smooth integration of new communication technology with the utilities existing systems, which is enabling the massive use of digital switchgear and is expected to drive the India Switchgear market during the forecast period.

 

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Increasing Adoption of Smart Switchgear

The growing adoption of smart Internet of Things (IoT) ready switchgears solutions are one of the key fundamental factors driving the India Switchgear market. Owing to the continuous developments in infrastructure and production facilities, enterprises are concerning more on adapting the smart power distribution products like smart switchgears. Smart switchgear enables real-time monitoring, predictive diagnostics, and precise protection against electrical faults. Moreover, many enterprises are seamlessly enabling devices to interact with building management systems, extending supervisory control and other enterprise-level utility systems to regulate power flow and achieve energy savings.

Moreover, with such enormous efforts for integration of renewable energy into the grid, smart switchgears are acting as a catalyst in fulfilling the requirements of high level of energy efficiency and power distribution. These intelligent switchgears offer cloud connections, predictive diagnostics, flexibility, and service continuity. Furthermore, the adoption of smart switchgears is enhancing uptime making modern businesses more competitive and limiting intervention cost with advanced programming of load cycle and improved sustainable capabilities. Therefore, an increasing number of smart IoT ready switchgears solutions has led to the growth of switchgear in the market.

Market Segmentation

India Switchgear Market is segmented into insulation, installation, voltage, current, end-user, and region. Based on insulation, the market is divided into air insulated, gas insulated and others. Based on installation, the market is further bifurcated into indoor and outdoor. Based on voltage, the market is categorized 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 further split into alternating current (AC) and direct current (DC). Based on enclosure, the market is segmented 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.

Market Player

Major market players in the India switchgear market are ABB India Limited, Larsen & Toubro Limited, C&S Electric Limited, Siemens Ltd., Schneider Electric Infrastructure Limited, CG Power and Industrial Solutions Limited, HPL Electric and Power Limited, Havells India Ltd., Legrand India Pvt. Ltd., and GE T&D India Limited.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2024-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

By Insulation

By Installation

By Voltage

By Current

By Enclosure

By End-User

Country scope

India

Region scope

East India, West India, North India and South India

Key companies profiled

ABB India Limited, Larsen & Toubro Limited, C&S Electric Limited, Siemens Ltd., 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.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the India switchgear market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • India Switchgear Market, By Insulation:

o   Air Insulated

o   Gas Insulated

o   Others

  • India Switchgear Market, By Installation:

o   Indoor

o   Outdoor

  • India Switchgear Market, By Voltage:

o   Low (up to 1 kV)

o   Medium (between 1.1 kV and 40 kV)

o   High (above 40 kV)

  • India Switchgear Market, By Current:

o   Alternating current (AC)

o   Direct Current (DC)

  • India Switchgear Market, By Enclosure:

o   MCB & MCCB

o   RCCB & ELCB

o   ACB

o   DB

o   Other Switching Devices

  • India Switchgear Market, By End-User:

o   Commercial

o   Residential

o   Transmission & Distribution Utilities

o   Industrial

o   Others

  • India Switchgear Market, By Region:

o   East India

o   West India

o   North India

o   South India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India switchgear market.

Available Customizations:

With the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

The India switchgear market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2.    Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3.    Impact of COVID-19 on India Switchgear Market

4.    Executive Summary

5.    Voice of Customers

6.    India Switchgear Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Insulation (Air Insulated, Gas Insulated & Others)

6.2.2.    By Installation (Indoor Vs Outdoor)

6.2.3.    By Voltage (Low (up to 1 kV)), Medium (between 1.1 kV and 40 kV) and High (above 40 kV)

6.2.4.    By Current (Alternating current (AC), Direct Current (DC))

6.2.5.    By Enclosure (MCB & MCCB, RCCB & ELCB, ACB, DB and Other Switching Devices)

6.2.6.    By End-User (Commercial, Residential, Transmission & Distribution Utilities, Industrial and Others)

6.2.7.    By Region

6.3.  By Company

6.4.  Market Map

7.    East India Switchgear Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Insulation

7.2.2.    By Installation

7.2.3.    By Voltage

7.2.4.    By Current

7.2.5.    By Enclosure

7.2.6.    By End-User

8.    West India Switchgear Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Insulation

8.2.2.    By Installation

8.2.3.    By Voltage

8.2.4.    By Current

8.2.5.    By Enclosure

8.2.6.    By End-User

9.    North India Switchgear Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Insulation

9.2.2.    By Installation

9.2.3.    By Voltage

9.2.4.    By Current

9.2.5.    By Enclosure

9.2.6.    By End-User

10.  South India Switchgear Market Outlook

10.1.  Market Size & Forecast

10.1.1. By Value

10.2.  Market Share & Forecast

10.2.1. By Insulation

10.2.2. By Installation

10.2.3. By Voltage

10.2.4. By Current

10.2.5. By Enclosure

10.2.6. By End-User

11.  Market Dynamics

11.1.  Drivers

11.2.  Challenges

12.  Market Trends & Developments

13.  Mergers & Acquisitions/ Recent Development

14.  Policy & Regulatory Framework

15.  India Economic Profile

16.  Company Profiles

16.1.  ABB India Limited

16.1.1. Business Overview

16.1.2. Key Revenue and Financials (If Available)

16.1.3. Recent Developments

16.1.4. Key Personnel

16.1.5. Key Product/Services

16.2.  Larsen & Toubro Limited

16.2.1. Business Overview

16.2.2. Key Revenue and Financials (If Available)

16.2.3. Recent Developments

16.2.4. Key Personnel

16.2.5. Key Product/Services

16.3.  C&S Electric Limited

16.3.1. Business Overview

16.3.2. Key Revenue and Financials (If Available)

16.3.3. Recent Developments

16.3.4. Key Personnel

16.3.5. Key Product/Services

16.4.  Siemens Limited

16.4.1. Business Overview

16.4.2. Key Revenue and Financials (If Available)

16.4.3. Recent Developments

16.4.4. Key Personnel

16.4.5. Key Product/Services

16.5.  Schneider Electric Infrastructure Limited

16.5.1. Business Overview

16.5.2. Key Revenue and Financials (If Available)

16.5.3. Recent Developments

16.5.4. Key Personnel

16.5.5. Key Product/Services

16.6.  CG Power and Industrial Solutions Limited

16.6.1. Business Overview

16.6.2. Key Revenue and Financials (If Available)

16.6.3. Recent Developments

16.6.4. Key Personnel

16.6.5. Key Product/Services

16.7.  HPL Electric and Power Limited

16.7.1. Business Overview

16.7.2. Key Revenue and Financials (If Available)

16.7.3. Recent Developments

16.7.4. Key Personnel

16.7.5. Key Product/Services

16.8.  Havells India Ltd.

16.8.1. Business Overview

16.8.2. Key Revenue and Financials (If Available)

16.8.3. Recent Developments

16.8.4. Key Personnel

16.8.5. Key Product/Services

16.9.  Legrand India Pvt. Ltd.

16.9.1. Business Overview

16.9.2. Key Revenue and Financials (If Available)

16.9.3. Recent Developments

16.9.4. Key Personnel

16.9.5. Key Product/Services

16.10.                GE T&D India Limited.

16.10.1.               Business Overview

16.10.2.               Key Revenue and Financials (If Available)

16.10.3.               Recent Developments

16.10.4.               Key Personnel

16.10.5.               Key Product/Services

17.  Strategic Recommendations

18.  About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.

Figures and Tables

Frequently asked questions

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ABB India Limited, Larsen & Toubro Limited, C&S Electric Limited, Siemens Ltd., Schneider Electric Infrastructure Limited, CG Power and Industrial Solutions Limited, HPL Electric and Power Limited, Havells India Ltd., Legrand India Pvt. Ltd., and GE T&D India Limited.

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The switchgear refers to a centralized collection of circuit breakers, fuses and switches that function to protect, control and isolate electrical equipment.

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North is the fastest-growing region in the India switchgear market due to presence of various companies and power infrastructure investments in the region.

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The switchgear has the capability to protect the electrical machines and appliances, provides isolation to circuits, low in maintenance with high reliability, strong persistence, cost-saving and can be easy to install.

profile

Parvati Sharma

Account Manager BD
Press Release

India Switchgear Market to be Dominated By Commercial and Industrial Sectors Through 2028

Apr, 2023

Increasing demand for electricity and booming installation of smart switchgears is expected to drive the India Switchgear market.