The India switchgear market is expected to exhibit a CAGR of 7.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Switchgear is a switching device comprising switches, fuses, circuit breakers, isolators, relays, current and potential transformers, indicating instruments, lightning arresters, and control panels. It controls, protects, and isolates power systems from damage during an electrical surge. It is highly reliable, can be controlled manually, works with speed, and enhances the energy efficiency and safety of a facility. As a result, it is used for de-energizing equipment for safe testing, maintenance, and fault clearing in various industries, such as commercial, residential, and industrial.
India Switchgear Market Trends:
At present, there is a rise in the demand for switchgear in India due to several developments in the power distribution sector. This, coupled with the growing implementation of smart grids and smart meters for accurate billing and reducing fraud and technical losses in the country, represents one of the key factors driving the market. Moreover, the Government of India is investing in infrastructure development schemes. This, along with the rising demand for electricity due to rapid industrialization and urbanization in the country, is propelling the growth of the market. In addition, there is an increase in the demand for gas insulated switchgear (GIS) as they are more reliable, environment-friendly, and flexible compared to air-insulated switchgear (AIS). This, in confluence with the growing application of GIS in power transmission and the integration of renewable power generation units in grids, is positively influencing the market. Besides this, the escalating demand for replacing conventional switchgear at sub-stations is offering lucrative growth opportunities to industry investors. Additionally, the increasing awareness among individuals to adopt renewable energy sources, such as solar, water, and wind, is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India switchgear market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on voltage type, insulation, installation and end use.
Breakup by Voltage Type:
Breakup by Insulation:
- Gas Insulated Switchgear (GIS)
- Air Insulated Switchgear (AIS)
Breakup by Installation:
Breakup by End Use:
Breakup by Region:
- North India
- West and Central India
- South India
- East India
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Voltage Type, Insulation, Installation, End Use, Region
||North India, West and Central India, South India, East India
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Key Questions Answered in This Report:
- How has the India Switchgear market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the India Switchgear market?
- What are the key regional markets?
- What is the breakup of the market based on the voltage type?
- What is the breakup of the market based on the insulation?
- What is the breakup of the market based on the installation?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the India Switchgear market and who are the key players?
- What is the degree of competition in the industry?