PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1282924
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1282924
India Switchgear Market - By Product Type ; By Voltage ; By Insulation ; By Current ; By Enclosure ; By Installation ; By End User ; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2029
India Switchgear Market Size almost Doubles to Reach USD 18.23 Million by 2029
India switchgear market is flourishing due to the increasing investments in the development of renewable energy, rising energy demands in various end-user industries enabling for the adoption of smart switchgear across the country.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent report, estimated the India switchgear market size at USD 9.75 million in 2022. BlueWeave expects the India switchgear market size to grow at a CAGR of 7.12% during the forecast period between 2023 and 2029 to reach a value of USD 18.23 million by 2029. The India switchgear market is expanding as a result of increased investment in renewable energy development and increased usage of smart switchgear, as well as government mandates or subsidies. Furthermore, rising energy demands in various end-user industries have resulted in a greater emphasis on renewable energy solutions, allowing for the adoption of smart switchgear in India. According to the IEA's World Energy Outlook 2022 report, by 2025, India will be the world's most populous country, and this, along with the twin forces of urbanization and industrialization, will underpin rapid growth in energy demand, which will rise by more than 3% per year in the Stated Policies Scenario (STEPS) from 2021 to 2030. These major factors could propel the growth of the India switchgear market in the coming years.
Opportunity: Increasing Adoption of Smart Switchgear
The increasing adoption of smart Internet of Things (IoT) compatible switchgear solutions will likely propel the growth of the India switchgear market. Smart switchgear aids in the intelligent control of power supply systems, increasing efficiency, dependability, and safety. According to Mitsubishi Electric Corporation data, India's power sector is experiencing unprecedented growth, and to support the Indian Government's initiatives such as 'Power for All,' 'Pradhan Mantri Sahaj Bijli Har Ghar Yojana,' 'Integrated Power Development Scheme,' and 'Deendayal Upadhyaya Gramme Jyoti Yojana,' the sector is leaning towards digitization. Smart switchgear aids in energy management, environmental protection, and power bill reduction. With continual advances in infrastructure and manufacturing facilities, the smart switchgear business is expanding at a quick rate. Smart switchgear, which plays an important part in the distribution of energy to industry and residential areas, is one of the sector's most important stimulants. Thus, smart switchgear enhances protection, monitoring, and control, resulting in increased efficiency of the system in which it is installed. Therefore, increasing the adoption of switches in India boosts the market growth.
Segmental Information
India Switchgear Market - By Product Type:
Based on product type, the India switchgear market is segmented into conventional switchgear, modular/ integrated switchgear, and others. During the forecast period, the conventional switchgear segment is expected to be the fastest-growing product type segment. The conventional switchgear category is an important element of the India switchgear market and is likely to increase gradually in the coming years. This type comprises air-insulated, gas-insulated, or oil-insulated switchgear and is commonly used in power generating, transmission, and distribution applications. The Indian government's emphasis on extending the country's power infrastructure and expanding access to electricity is driving demand for traditional switchgear equipment, particularly in rural areas.
India Switchgear Market - By End User:
Based on end user, the India switchgear market is segmented into transmission and distribution utilities, commercial, residential, and industrial. The transmission and distribution utilities segment accounts for a significant market share during the forecast period. The segment's growth is being aided by a significant increase in electricity demand and increased implementation of smart grids. There have been advancements in transmission and distribution infrastructure, which has resulted in greater demand for the product. The Indian government has initiated many programs to improve grid stability and promote energy availability, which is likely to raise demand for switchgear in the transmission and distribution utilities market.
India Switchgear Market - By Installation:
Based on the installation, the India switchgear market is split into indoor and outdoor segments. During the forecast period, the conventional switchgear segment is expected to be the fastest-growing installation segment. Indoor switchgear installation is common in limited environments such as substations, power plants, and industrial buildings. This form of installation has several advantages, including better safety, increased reliability, and lower maintenance costs. Indoor switchgear is less prone to weather damage and is shielded from dust, moisture, and other environmental elements that might harm outdoor switchgear. As a result, it is a more dependable solution for power distribution in India, where the climate can be extreme.
Impact of COVID-19 on the India Switchgear Market
The COVID-19 pandemic had significantly affected the India switchgear market. On the one hand, industrial and supply chain interruptions reduced the demand for and sales of switchgear equipment. The pandemic, on the other hand, underlined the significance of dependable and efficient electricity infrastructure, opening up new potential for switchgear makers. The Indian government's emphasis on developing the country's power infrastructure, combined with increased investments in renewable energy, is likely to drive switchgear equipment demand in the coming years. The pandemic has also expedited the power sector's shift towards digitization and smart technologies, creating new prospects for makers of smart switchgear equipment. However, the pandemic posed various challenges for switchgear makers, including supply chain interruptions, staffing shortages, and decreased sales. Overall, COVID-19 had significantly affected the growth of the India switchgear business, with problems and opportunities coexisting in a fast-expanding market.
Competitive Landscape:
The India switchgear market is highly competitive, with all the players continually competing to gain a larger market share. The key players in the market include Larsen & Toubro Limited, Siemens Limited, ABB India Limited, Schneider Electric Infrastructure Limited, Havells India Limited, C&S Electric Limited, Legrand India Pvt. Ltd., Bharat Heavy Electricals Limited (BHEL), HPL Electric & Power Ltd. Mitsubishi Electric India Pvt. Ltd., GE T&D India Limited, and Control and Switchgear Electric (C&S). The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisition to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Switchgear Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global India Switchgear Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Switchgear Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growth and expansion of renewable energy sector
- 3.2.1.2. Increasing adoption of smart switchgear
- 3.2.1.3. Growing demand for electricity generation
- 3.2.2. Restraints
- 3.2.2.1. Unstable prices of raw materials
- 3.2.2.2. Lack of Standardization
- 3.2.3. Opportunity
- 3.2.3.1. Emerging digitalization and digitalized switchgear
- 3.2.3.2. Increasing construction of housing unit
- 3.2.4. Challenges
- 3.2.4.1. High temperature, vacuum and arching issues associated with switchgear
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Switchgear Market Overview
- 4.1. Market Size & Forecast by Value, 2019-2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Product Type
- 4.2.1.1. Conventional Switchgear
- 4.2.1.2. Modular/ Integrated Switchgear
- 4.2.1.3. Others
- 4.2.2. By Voltage
- 4.2.2.1. Low Voltage
- 4.2.2.2. Medium Voltage
- 4.2.2.3. High Voltage
- 4.2.3. By Insulation
- 4.2.3.1. Gas Insulated Switchgear (GIS)
- 4.2.3.2. Air Insulated Switchgear (AIS)
- 4.2.3.3. Others
- 4.2.4. By Current
- 4.2.4.1. Alternating current (AC)
- 4.2.4.2. Direct Current (DC)
- 4.2.5. By Enclosure
- 4.2.5.1. Power Distributor Switch breaker
- 4.2.5.2. Switch Disconnector
- 4.2.5.3. MCB & MCCB
- 4.2.5.4. RCCB & ELCB
- 4.2.5.5. ACB
- 4.2.5.6. DB
- 4.2.5.7. Other Switching Devices
- 4.2.6. By Installation
- 4.2.6.1. Indoor
- 4.2.6.2. Outdoor
- 4.2.7. By End User
- 4.2.7.1. Transmission and Distribution Utilities
- 4.2.7.2. Commercial
- 4.2.7.3. Residential
- 4.2.7.4. Industrial
- 4.2.8. By Region
- 4.2.8.1. North India
- 4.2.8.2. South India
- 4.2.8.3. East India
- 4.2.8.4. West India
- 4.2.1. By Product Type
5. North India Switchgear Market
- 5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Product Type
- 5.2.2. By Voltage
- 5.2.3. By Insulation
- 5.2.4. By Current
- 5.2.5. By Enclosure
- 5.2.6. By Installation
- 5.2.7. By End User
6. South India Switchgear Market
- 6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.2. By Voltage
- 6.2.3. By Insulation
- 6.2.4. By Current
- 6.2.5. By Enclosure
- 6.2.6. By Installation
- 6.2.7. By End User
7. East India Switchgear Market
- 7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Product Type
- 7.2.2. By Voltage
- 7.2.3. By Insulation
- 7.2.4. By Current
- 7.2.5. By Enclosure
- 7.2.6. By Installation
- 7.2.7. By End User
8. West India Switchgear Market
- 8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Product Type
- 8.2.2. By Voltage
- 8.2.3. By Insulation
- 8.2.4. By Current
- 8.2.5. By Enclosure
- 8.2.6. By Installation
- 8.2.7. By End User
9. Competitive Landscape
- 9.1. List of Key Players and Their Offerings
- 9.2. India Switchgear Company Market Share Analysis, 2022
- 9.3. Competitive Benchmarking, By Operating Parameters
- 9.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Switchgear Market
11. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 11.1. Larsen & Toubro Limited
- 11.2. Siemens Limited
- 11.3. ABB India Limited
- 11.4. Schneider Electric Infrastructure Limited
- 11.5. Havells India Limited
- 11.6. C&S Electric Limited
- 11.7. Legrand India Pvt Ltd
- 11.8. Bharat Heavy Electricals Limited (BHEL)
- 11.9. HPL Electric & Power Ltd
- 11.10. Mitsubishi Electric India Pvt Ltd
- 11.11. GE T&D India Limited
- 11.12. Control and Switchgear Group (C&S)
- 11.13. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
- 13.1. Qualitative Research
- 13.1.1. Primary & Secondary Research
- 13.2. Quantitative Research
- 13.3. Market Breakdown & Data Triangulation
- 13.3.1. Secondary Research
- 13.3.2. Primary Research
- 13.4. Breakdown of Primary Research Respondents, By Region
- 13.5. Assumption & Limitation
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1 India Switchgear Market Segmentation
- Figure 2 India Switchgear Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 India Switchgear Market Size, By Value (USD Million), 2019-2029
- Figure 5 India Switchgear Market Share, By Product Type, By Value, 2019-2029
- Figure 6 India Switchgear Market Share, By Voltage, By Value, 2019-2029
- Figure 7 India Switchgear Market Share, By Insulation, By Value, 2019-2029
- Figure 8 India Switchgear Market Share, By Current, By Value, 2019-2029
- Figure 9 India Switchgear Market Share, By Enclosure, By Value, 2019-2029
- Figure 10 India Switchgear Market Share, By Installation, By Value, 2019-2029
- Figure 11 India Switchgear Market Share, By End-User, By Value, 2019-2029
- Figure 12 India Switchgear Market Share, By Region, By Value, 2019-2029
- Figure 13 North India Switchgear Market Size, By Value (USD Million), 2019-2029
- Figure 14 North India Switchgear Market Share, By Product Type, By Value, 2019-2029
- Figure 15 North India Switchgear Market Share, By Voltage, By Value, 2019-2029
- Figure 16 North India Switchgear Market Share, By Insulation, By Value, 2019-2029
- Figure 17 North India Switchgear Market Share, By Current, By Value, 2019-2029
- Figure 18 North India Switchgear Market Share, By Enclosure, By Value, 2019-2029
- Figure 19 North India Switchgear Market Share, By Installation, By Value, 2019-2029
- Figure 20 North India Switchgear Market Share, By End-User, By Value, 2019-2029
- Figure 21 South India Switchgear Market Size, By Value (USD Million), 2019-2029
- Figure 22 South India Switchgear Market Share, By Product Type, By Value, 2019-2029
- Figure 23 South India Switchgear Market Share, By Voltage, By Value, 2019-2029
- Figure 24 South India Switchgear Market Share, By Insulation, By Value, 2019-2029
- Figure 25 South India Switchgear Market Share, By Current, By Value, 2019-2029
- Figure 26 South India Switchgear Market Share, By Enclosure, By Value, 2019-2029
- Figure 27 South India Switchgear Market Share, By Installation, By Value, 2019-2029
- Figure 28 South India Switchgear Market Share, By End-User, By Value, 2019-2029
- Figure 29 East India Switchgear Market Size, By Value (USD Million), 2019-2029
- Figure 30 East India Switchgear Market Share, By Product Type, By Value, 2019-2029
- Figure 31 East India Switchgear Market Share, By Voltage, By Value, 2019-2029
- Figure 32 East India Switchgear Market Share, By Insulation, By Value, 2019-2029
- Figure 33 East India Switchgear Market Share, By Current, By Value, 2019-2029
- Figure 34 East India Switchgear Market Share, By Enclosure, By Value, 2019-2029
- Figure 35 East India Switchgear Market Share, By Installation, By Value, 2019-2029
- Figure 36 East India Switchgear Market Share, By End-User, By Value, 2019-2029
- Figure 37 West India Switchgear Market Size, By Value (USD Million), 2019-2029
- Figure 38 West India Switchgear Market Share, By Product Type, By Value, 2019-2029
- Figure 39 West India Switchgear Market Share, By Voltage, By Value, 2019-2029
- Figure 40 West India Switchgear Market Share, By Insulation, By Value, 2019-2029
- Figure 41 West India Switchgear Market Share, By Current, By Value, 2019-2029
- Figure 42 West India Switchgear Market Share, By Enclosure, By Value, 2019-2029
- Figure 43 West India Switchgear Market Share, By Installation, By Value, 2019-2029
- Figure 44 West India Switchgear Market Share, By End-User, By Value, 2019-2029
List of Tables
- Table 1 India Switchgear Market Size, By Value (USD Million), 2019-2029
- Table 2 India Switchgear Market Share, By Product Type, By Value, 2019-2029
- Table 3 India Switchgear Market Share, By Voltage, By Value, 2019-2029
- Table 4 India Switchgear Market Share, By Insulation, By Value, 2019-2029
- Table 5 India Switchgear Market Share, By Current, By Value, 2019-2029
- Table 6 India Switchgear Market Share, By Enclosure, By Value, 2019-2029
- Table 7 India Switchgear Market Share, By Installation, By Value, 2019-2029
- Table 8 India Switchgear Market Share, By End-User, By Value, 2019-2029
- Table 9 India Switchgear Market Share, By Region, By Value, 2019-2029
- Table 10 North India Switchgear Market Size, By Value (USD Million), 2019-2029
- Table 11 North India Switchgear Market Share, By Product Type, By Value, 2019-2029
- Table 12 North India Switchgear Market Share, By Voltage, By Value, 2019-2029
- Table 13 North India Switchgear Market Share, By Insulation, By Value, 2019-2029
- Table 14 North India Switchgear Market Share, By Current, By Value, 2019-2029
- Table 15 North India Switchgear Market Share, By Enclosure, By Value, 2019-2029
- Table 16 North India Switchgear Market Share, By Installation, By Value, 2019-2029
- Table 17 North India Switchgear Market Share, By End-User, By Value, 2019-2029
- Table 18 South India Switchgear Market Size, By Value (USD Million), 2019-2029
- Table 19 South India Switchgear Market Share, By Product Type, By Value, 2019-2029
- Table 20 South India Switchgear Market Share, By Voltage, By Value, 2019-2029
- Table 21 South India Switchgear Market Share, By Insulation, By Value, 2019-2029
- Table 22 South India Switchgear Market Share, By Current, By Value, 2019-2029
- Table 23 South India Switchgear Market Share, By Enclosure, By Value, 2019-2029
- Table 24 South India Switchgear Market Share, By Installation, By Value, 2019-2029
- Table 25 South India Switchgear Market Share, By End-User, By Value, 2019-2029
- Table 26 East India Switchgear Market Size, By Value (USD Million), 2019-2029
- Table 27 East India Switchgear Market Share, By Product Type, By Value, 2019-2029
- Table 28 East India Switchgear Market Share, By Voltage, By Value, 2019-2029
- Table 29 East India Switchgear Market Share, By Insulation, By Value, 2019-2029
- Table 30 East India Switchgear Market Share, By Current, By Value, 2019-2029
- Table 31 East India Switchgear Market Share, By Enclosure, By Value, 2019-2029
- Table 32 East India Switchgear Market Share, By Installation, By Value, 2019-2029
- Table 33 East India Switchgear Market Share, By End-User, By Value, 2019-2029
- Table 34 West India Switchgear Market Size, By Value (USD Million), 2019-2029
- Table 35 West India Switchgear Market Share, By Product Type, By Value, 2019-2029
- Table 36 West India Switchgear Market Share, By Voltage, By Value, 2019-2029
- Table 37 West India Switchgear Market Share, By Insulation, By Value, 2019-2029
- Table 38 West India Switchgear Market Share, By Current, By Value, 2019-2029
- Table 39 West India Switchgear Market Share, By Enclosure, By Value, 2019-2029
- Table 40 West India Switchgear Market Share, By Installation, By Value, 2019-2029
- Table 41 West India Switchgear Market Share, By End-User, By Value, 2019-2029
Table 42 Larsen & Toubro Limited Company Overview
- Table 43 Larsen & Toubro Limited Financial Overview
- Table 44 Siemens Limited Company Overview
- Table 45 Siemens Limited Financial Overview
- Table 46 ABB India Limited Company Overview
- Table 47 ABB India Limited Financial Overview
- Table 48 Schneider Electric Infrastructure Limited Company Overview
- Table 49 Schneider Electric Infrastructure Limited Financial Overview
- Table 50 Havells India Limited Company Overview
- Table 51 Havells India Limited Financial Overview
- Table 52 C&S Electric Limited Company Overview
- Table 53 C&S Electric Limited Financial Overview
- Table 54 Legrand India Pvt Ltd Company Overview
- Table 55 Legrand India Pvt Ltd Financial Overview
- Table 56 Bharat Heavy Electricals Limited (BHEL) Company Overview
- Table 57 Bharat Heavy Electricals Limited (BHEL) Financial Overview
- Table 58 HPL Electric & Power Ltd. Company Overview
- Table 59 HPL Electric & Power Ltd. Financial Overview
- Table 60 Mitsubishi Electric India Pvt Ltd Company Overview
- Table 61 Mitsubishi Electric India Pvt Ltd Financial Overview
- Table 62 GE T&D India Limited Company Overview
- Table 63 GE T&D India Limited Financial Overview
- Table 64 Control and Switchgear Group (C&S) Company Overview
- Table 65 Control and Switchgear Group (C&S) Financial Overview
