India Electrical Equipment Market (2024-2030) | Trends, Outlook, Industry, Forecast, Revenue, Share, Size, Companies, Growth, Value & Analysis

India Electrical Equipment Market Synopsis

The Indian electrical equipment market is anticipated to grow at a CAGR of 8.3% during the forecast period 2020-2026 owing to increasing electricity consumption, growing population and rising investments in infrastructure development. The Indian government initiative towards expansion in renewable energy sources such as solar and wind power generation are expected to drive the growth of the market over the forecast period. Moreover, increasing industrialization along with rising FDI inflows also contribute significantly to this growth rate.

Drivers of the Market:

1) Increasing Electricity Consumption: India has one of the highest levels of per capita electricity consumption among emerging countries; this shows that there is an increased demand for electrical equipment in order to meet this rise in electricity consumption. This rise can be attributed mainly due to rapid urbanization and industrialization which have both led to an increase in residential, commercial and public sector demand for better quality & efficient electrical equipment across India.

2) Growing Population: As per World Bank estimates, India?s population was 1.3 billion people as on 2016 and it is estimated that by 2050, India will become home for nearly 1/5th (18%) of world population with about 18% share of total global middle class households by 2030 contributing 42% share from Asia alone . It is expected that such huge number will bring a surge in demand for various types of consumer durables like refrigerators , washing machines etc., further creating potential opportunities within electrical equipment space .

Challenges of the Market:

High Import Duty : In order increase local manufacturing capacity & reduce dependence on imports Government imposes high import duty on certain categories like transformers & switchgear which makes them comparatively expensive than imported ones thus hampering its adoption rate amongst buyers . Additionally , stringent regulations pertaining establishing new plants or refurbishing existing ones pose challenge too .

2) Low Voltage Infrastructure : Low voltage distribution networks continues facing challenges even after 70 years since independence as there still exists vast areas without proper access or connection with grid making it difficult for manufacturers or suppliers looking forward penetrate deeper into these regions where bigger chunk lies consumers reside .

Trends of the Market:

Smart Grid Technologies Adoption : Smart grids provide reliable real time information regarding current energy use while providing flexibility & automation capabilities allowing users control their own energy usage better rather than relying solely upon traditional systems wherein user had no control over his/her own usage pattern leading wastage causing burden onto environment too via carbon emissions etc.

Key Highlights of the Report:

• India Electrical Equipment Market Outlook
• Market Size of India Electrical Equipment Market, 2023
• Forecast of India Electrical Equipment Market, 2030
• Historical Data and Forecast of India Electrical Equipment Revenues & Volume for the Period 2020-2030
• India Electrical Equipment Market Trend Evolution
• India Electrical Equipment Market Drivers and Challenges
• India Electrical Equipment Price Trends
• India Electrical Equipment Porter's Five Forces
• India Electrical Equipment Industry Life Cycle
• Historical Data and Forecast of India Electrical Equipment Market Revenues & Volume By Types for the Period 2020-2030
• Historical Data and Forecast of India Electrical Equipment Market Revenues & Volume By Electronic and electrical wires and cables for the Period 2020-2030
• Historical Data and Forecast of India Electrical Equipment Market Revenues & Volume By Batteries and accumulators for the Period 2020-2030
• Historical Data and Forecast of India Electrical Equipment Market Revenues & Volume By Wiring devices for the Period 2020-2030
• Historical Data and Forecast of India Electrical Equipment Market Revenues & Volume By Electric lighting equipment for the Period 2020-2030
• Historical Data and Forecast of India Electrical Equipment Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of India Electrical Equipment Market Revenues & Volume By Applications for the Period 2020-2030
• Historical Data and Forecast of India Electrical Equipment Market Revenues & Volume By Residential end-users for the Period 2020-2030
• Historical Data and Forecast of India Electrical Equipment Market Revenues & Volume By Non-residential end-users for the Period 2020-2030
• India Electrical Equipment Import Export Trade Statistics
• Market Opportunity Assessment By Types
• Market Opportunity Assessment By Applications
• India Electrical Equipment Top Companies Market Share
• India Electrical Equipment Competitive Benchmarking By Technical and Operational Parameters
• India Electrical Equipment Company Profiles
• India Electrical Equipment Key Strategic Recommendations