India Switchgear Market to Grow at 5.85% During 2024-2032, Impelled by Significant Developments in Transmission and Distribution (T&D) Networks

August 02, 2022 | Electronics and Semiconductors

IMARC Group’s latest report, titled “India Switchgear Market Report by Voltage Type (Low-Voltage, Medium-Voltage, High-Voltage), Insulation (Gas Insulated Switchgear (GIS), Air Insulated Switchgear (AIS), and Others), Installation (Indoor, Outdoor), End Use (Commercial, Residential, Industrial), and Region 2024-2032,” finds that the India switchgear market is expected to exhibit a CAGR of 5.85% during 2024-2032. Switchgear refers to equipment designed to control, regulate, and switch on and off the electrical circuit. Some of the main components of switchgear include switches, fuses, circuit breakers, isolators, relays, indicating instruments, lightning arresters, control panels, and current and potential transformers. It isolates and protects power systems from damage during short circuits and fault currents and safeguards individuals by limiting the current flow through the system to safe levels. It also helps improve energy efficiency and safety in a facility and offers reliability, speed, and manual control. As a result, switchgear finds extensive applications across residential, commercial, and industrial sectors to de-energize equipment for safe testing, maintenance, and fault clearing.

India Switchgear Market Trends:

In India, significant developments in transmission and distribution (T&D) networks represent the primary factor driving market growth. Besides this, the rising demand for electricity due to rapid industrialization and urbanization is another major growth-inducing factor. In addition, gas-insulated switchgear (GIS) is rapidly gaining popularity over air-insulated switchgear (AIS) due to its reliability, environment-friendliness, flexibility, low maintenance, and protection against external elements. In line with this, the increasing adoption of smart grids and smart meters across the country for accurate billing and reducing fraud and technical losses has augmented product demand. Furthermore, the government of India (GOI) is extensively investing in infrastructure development schemes, such as Make in India, Digital India, Smart Cities, Integrated Power Development Scheme, and Atal Mission for Rejuvenation and Urban Transformation. Along with this, owing to the rising environmental concerns, the shifting inclination toward renewable energy sources, such as solar, water, and wind, to reduce carbon emissions is positively influencing market growth. Other factors, including the expanding power distribution sector, integration of renewable power generation units in grids, emerging GIS applications in power transmission, product innovations, and technological advancements, are also providing a positive thrust to the market growth.

Market Summary:

Based on the voltage type, the market has been divided into low-, medium-, and high-voltages.
The market has been categorized based on the insulation into gas-insulated switchgear (GIS), air-insulated switchgear (AIS), and others.
On the basis of the installation, the market has been bifurcated into indoor and outdoor.
Based on the end use, the market has been classified into commercial, residential, and industrial.
Region-wise, the market has been segregated into North India, West and Central India, South India, and East India.
The competitive landscape of the market has also been examined, along with detailed profiles of the key players operating in the industry.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Voltage Type, Insulation, Installation, End Use, Region
Region Covered	North India, West and Central India, South India, East India
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
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Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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India Switchgear Market to Grow at 5.85% During 2024-2032, Impelled by Significant Developments in Transmission and Distribution (T&D) Networks

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