India Switchgear Market Outlook (2021-2027) | Size, Share, Trends, Growth, Revenue, Forecast, Analysis, Value, Outlook & COVID-19 IMPACT

Key Highlights of the Report:

India Switchgear Market report provides associate unbiased and elaborate analysis of the on-going market trends, opportunities/high growth areas, market drivers which might facilitate the stakeholders to device and align their market ways consistent with the present and future market dynamics.

India Switchgear Market Synopsis

India Switchgear Market is expected to register a significant growth over the coming years on account of rising population, increasing energy requirement and major infrastructural development projects been carried out across the country. Furthermore, government initiatives such as Deen Dayal Upadhyaya Gram Jyoti Yojana, Integrated Power Development Scheme and Green energy corridor and initiatives such as Housing for all in would lead to the development of power and real estate sector. These sectors would in turn lead to the increase in demand of switchgear in the country. The market saw a sharp decline in 2020 as a result of the complete lockdown bought in force by the Indian Government to prevent the spread of coronavirus which disrupted the supply chain, manufacturing processes and put a halt to all the developmental activities residential and commercial sector. However, the decline in market is expected to be temporary and is anticipated to return to a healthy growth rate on account of declining COVID-19 cases and the vaccination drive which started in early in 2021.

According to 6Wresearch, India Switchgear Market size is projected to grow at CAGR of 7.17% during 2021-27.  Government of India plans to reduce the emissions caused by thermal energy plants and increase its renewable energy production to 220 GW by 2022 to meet its commitment made towards Paris Agreement. As a result, renewable energy sector is seeing a major rush in the investments. This capacity addition of sector is growing at a rate of ~14% for the last five years. Additionally, to reduce emissions caused by conventional vehicles, government is promoting electric vehicles which would require a huge charging infrastructure over the coming years. Railways are also moving towards renewable energy by installing solar panels on top of its buildings and unused land. Under ‘UDAAN’ scheme, government is planning to build several airports across the country and upgrading the existing ones. All these sectors have a direct impact on the switchgear market in India.

Market Analysis by Voltage

Based on the voltage, low voltage switchgear accounted for the major market revenue share in 2020 and it is anticipated to maintain the same over the forthcoming years owing to its application in residential and commercial sectors. MCB dominated the low switchgear market followed by ACB. Medium voltage switchgear market is also expected to grow generously over the coming years on account of reliable operations, safety, and easy maintenance. Additionally, rising demand to curb fire hazards, short circuits, and electricity fault, would also drive the market growth.

Market Analysis by Application

Residential and Power Utilities sector accounted for the major revenue share in the India Switchgear Market in 2020 and is expected to retain its dominance for the coming years owing to the increasing population, increasing investment in the renewable energy sector and major expansion and upgradation programs carried out by the government of India in the power sector. The growth in real estate and transportation sector would directly contribute to the growth of switchgear market in the forthcoming years.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2017 to 2020.
• Base Year: 2020
• Forecast Data until 2027.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• India Switchgear Market Overview
• India Switchgear Market Outlook
• India Switchgear Market Forecast
• Historical Data and Forecast of India Switchgear Market Revenues, By Voltage, By Types, By Insulation Type and By Applications for the Period 2017-2027F
• Market Drivers and Restraints
• India Switchgear Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Market Player’s Revenue Shares
• Market Competitive Benchmarking
• India Switchgear Market Share, By Company
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

• By Voltage
• Low voltage (0 – 1.1kV)
• Medium Voltage (1.1 – 36kV)
• High Voltage (>36 kV)

• By types
• Low Voltage

• MCB & DB
• MCCB
• ACB
• COS (Change over switches)
• Control gear
• OLR
• SDF
• Others (ELCB, RCD, C&R)

• Medium Voltage
• RMU 11 KV
• RMU 33 KV
• Panel 11 KV
• Panel 33 KV
• By Insulation Types
• Medium Voltage

• Air Insulated (AIS)
• Gas Insulated (GIS)
• Others (Vacuum Insulated, Oil Insulated)

• High Voltage

• Air Insulated (AIS)
• Others (Gas insulated, Oil Insulated)

• By Application
• Residential
• Commercial
• Industrial
• Power Utilities
• Others (Transportation Infrastructure, Mining, Oil & Gas)