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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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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