India Switchgear Market Overview:
The latest research study “India Switchgear Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the India switchgear market is expected to exhibit a CAGR of 7.1% during 2022-2027.
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Switchgear refers to a switching device comprising indicating instruments, lightning arresters, fuses, circuit breakers, isolators, relays, current, potential transformers, switches, and control panels. During an electrical surge, it protects, controls, and isolates power systems from damage. It enhances the energy efficiency and safety of a facility and is highly reliable, can be controlled manually, and works with speed. As a result, switchgear finds extensive applications across commercial, residential, and industrial sectors for de-energizing equipment for safe testing, maintenance, and fault clearing.
COVID-19 Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
India Switchgear Market Trends and Drivers:
The India switchgear market is primarily driven by the increasing implementation of smart grids and smart meters for accurate billing and reducing fraud and technical losses. Additionally, the rising developments in the power distribution sector across the country represent another major growth-inducing factor.
Moreover, the escalating demand for electricity due to rapid urbanization and industrialization has catalyzed market growth. Furthermore, the Government of India is investing heavily in infrastructure development schemes. Apart from this, the increasing demand for gas-insulated switchgear (GIS) due to the growing awareness about its benefits, such as reliability, flexibility, and environmental safety, has augmented the product demand. Besides this, the integration of renewable power generation units in grids is contributing to market growth.
Other factors, including the increasing need for replacing conventional switchgear at sub-stations, emerging GIS applications in power transmission, and growing adoption of renewable energy sources, are also anticipated to create a favorable market outlook.
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India Switchgear Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of region, voltage type, insulation, installation and end use.
Breakup by Voltage Type:
- Low-Voltage
- Medium-Voltage
- High-Voltage
Breakup by Insulation:
- Gas Insulated Switchgear (GIS)
- Air Insulated Switchgear (AIS)
- Others
Breakup by Installation:
- Indoor
- Outdoor
Breakup by End Use:
- Commercial
- Residential
- Industrial
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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