Switchgear Market Size in India | Business Growth, Outlook and Forecast to 2022-2027
According to the latest report by IMARC Group, titled “Switchgear Market Size in India: Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027,”the India switchgear market size is expected to exhibit a CAGR of 7.1% during 2022-2027.
Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027
India Switchgear Market Overview:
Switchgear is designed to regulate, isolate, and controls the power supply from the threat of electrical overload. It disconnects the power supply by switching off the electrical circuit in the power system during a fault or an electrical surge. It comprises switches, fuses, circuit breakers, isolators, protective relays, indicating instruments, lightning arrestors, auto reclosures, current and potential transformers, and control panels. It is cost-efficient and can be controlled manually, offers speed and reliability, ensures an uninterrupted power supply, prevents equipment from damage, and improves safety and maintenance. As a result, it is widely adopted in regional residential, commercial, and industrial sectors.
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India Switchgear Market Trends:
The market is primarily driven by the increasing demand for switchgear and electricity in India on account of numerous developments in the power distribution sector, rapid industrialization, and urbanization. In addition, the expanding transmission and distribution (T&D) networks and the widespread adoption of gas-insulated switchgear (GIS) over air-insulated switchgear (AIS) are contributing to the market growth.
Moreover, the introduction of Deen Dayal Upadhyaya Gram Jyoti Yojana, an electrification program to provide electricity to remote areas, represents another major growth-inducing factor. Furthermore, the increasing investments in various infrastructure development schemes such as Digital India, Smart Cities, Make in India, Integrated Power Development Scheme, and Atal Mission for urban transformation are propelling the market growth.
Besides this, the growing environmental awareness among the masses, which resulted in the shift toward renewable energy sources such as wind, solar, and water to minimize carbon emissions, is providing a positive thrust to the market growth.
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Competitive Landscape With Key Players:
The competitive landscape of the India switchgear market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of region, voltage type, insulation, installation and end use.
Breakup by Voltage Type:
• Low-Voltage
• Medium-Voltage
• High-Voltage
Breakup by Insulation:
• Gas Insulated Switchgear (GIS)
• Air Insulated Switchgear (AIS)
• Others
Breakup by Installation:
• Indoor
• Outdoor
Breakup by End Use:
• Commercial
• Residential
• Industrial
Breakup by Region:
• North India
• West and Central India
• South India
• East India
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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