India Electrical Switches Market, By Type ; By Application ; By Distribution Channel ; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2029

PUBLISHED: November 27, 2023

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India Electrical Switches Market Size Set to Expand at Significant CAGR of 8.45% Touching USD 668.41 Million by 2029.

India electrical switches market is flourishing because of the rising demand from thriving residential and commercial properties and growing awareness about energy efficiency and safety.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India electrical switches market size at USD 410.85 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India electrical switches market size to grow at a significant CAGR of 8.45% reaching a value of USD 668.41 million by 2029. Major growth drivers for the India electrical switches market include the increasing number of real estate and construction projects, particularly in the residential sector. The residential demand for modular switches is on the rise due to their aesthetic appeal, with individuals replacing outdated switches to match their wall paints and interior decor. Electromechanical in nature, electrical switches control the flow of electric current by opening and shutting circuits, operating as binary systems with a simple on/off mechanism. Also, factors such as supportive government initiatives, rising per capita income, and declining prices of modular switches are expected to contribute positively to the market during the forecast period. However, high cost of modular switches and unorganized market with a large number of small and medium-sized enterprises (SMEs) are anticipated to restrain the overall market growth during the forecast period.

India Electrical Switches Market - Overview

The India electrical switches market refers to the sector encompassing the production, distribution, and consumption of electrical switches within the country. Electrical switches are electromechanical devices that control the flow of electric current by opening or closing circuits. In the context of this market, the focus is on various types of switches used in residential, commercial, and industrial settings. The market is influenced by factors such as the demand from real estate and construction projects, particularly in the residential sector, as well as the increasing popularity of modular switches driven by aesthetic considerations. The market's growth is also impacted by government initiatives, per capita income trends, and pricing dynamics in the modular switches segment.

Impact of COVID-19 on India Electrical Switches Market

COVID-19 pandemic adversely affected the India electrical switches market. Nationwide lockdowns, labor shortages, and logistical challenges led to a slowdown in production, affecting the overall market performance. Demand fluctuations and economic uncertainties further impacted consumer spending on non-essential items, including electrical switches. However, the market exhibited resilience with the gradual easing of restrictions, witnessing a recovery in the post-pandemic period. The adoption of digital technologies and e-commerce gained prominence, reflecting a shift in consumer behavior. The industry adapted to the new normal, emphasizing the significance of agility and technological integration for future growth.

India Electrical Switches Market - By Distribution Channel

On the basis of distribution channels, the India electrical switches market is divided into Institutional, Online, Retail Stores, and Hypermarket/Supermarket segments. The institutional segment holds the highest share in the India electrical switches market by distribution channel, due to an extensive demand from various institutions such as government buildings, educational institutions, and healthcare facilities. These segments require reliable, durable, and high-quality electrical switches to ensure smooth and safe operations. Also, institutional buyers often prefer bulk purchases, contributing significantly to the market share. Additionally, stringent regulatory standards and the need for standardized, certified products further drive institutional procurement of electrical switches, solidifying its dominance in the distribution channel landscape.

Competitive Landscape

Major players operating in the India electrical switches market include: Anchor, Havells, GM Modular, Schneider Electric, ABB, Legrand, Wipro, Goldmedal, Polycab, Finolex, Great White, and Crompton Greaves. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India Electrical Switches Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Electrical Switches Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC23963

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. India Electrical Switches Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Increasing demand for residential and commercial real estate
  - 3.2.1.2. Growing awareness of energy efficiency and safety
- 3.2.2. Restraints
  - 3.2.2.1. High cost of modular switches
  - 3.2.2.2. Unorganized market with a large number of small and medium-sized enterprises (SMEs)
- 3.2.3. Opportunities
  - 3.2.3.1. Growing demand for smart electrical switches
  - 3.2.3.2. Increasing urbanization and industrialization
- 3.2.4. Challenges
  - 3.2.4.1. Competition from imported products
  - 3.2.4.2. Counterfeiting and piracy
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 Electrical Switches Market Overview

4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
- 4.2.1. By Type
  - 4.2.1.1. Wall Switches
  - 4.2.1.2. Modular Touch Switches
  - 4.2.1.3. Push-button Switches
  - 4.2.1.4. Toggle Switches
  - 4.2.1.5. Limit Switches
  - 4.2.1.6. Dimmer Switches
  - 4.2.1.7. Selector Switches
  - 4.2.1.8. Others
- 4.2.2. By Application
  - 4.2.2.1. Residential
  - 4.2.2.2. Commercial
  - 4.2.2.3. Others
- 4.2.3. By Distribution Channels
  - 4.2.3.1. Institutional
  - 4.2.3.2. Online
  - 4.2.3.3. Retail Stores
  - 4.2.3.4. Hypermarkets/Supermarkets
- 4.2.4. By Region
  - 4.2.4.1. North India
  - 4.2.4.2. South India
  - 4.2.4.3. East India
  - 4.2.4.4. West India

5. North India Electrical Switches Market

5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
- 5.2.1. By Type
- 5.2.2. By Application
- 5.2.3. By Distribution Channels

6. South India Electrical Switches Market

6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Application
- 6.2.3. By Distribution Channels

7. East India Electrical Switches Market

7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Application
- 7.2.3. By Distribution Channels

8. West India Electrical Switches Market

8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Application
- 8.2.3. By Distribution Channels

9. Competitive Landscape

9.1. List of Key Players and Their Offerings
9.2. India Electrical Switches Company Market Share Analysis, 2022
9.3. Competitive Benchmarking, By Operating Parameters
9.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

10. Impact of Covid-19 on India Electrical Switches Market

11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)

11.1. Anchor
11.2. Havells
11.3. GM Modular
11.4. Schneider Electric
11.5. ABB
11.6. Legrand
11.7. Wipro
11.8. Goldmedal
11.9. Polycab
11.10. Finolex
11.11. Great White
11.12. Crompton Greaves
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. Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

Product Code: BWC23963

List of Figures

Figure 1 India Electrical Switches Segmentation
Figure 2 India Electrical Switches Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 India Electrical Switches Market Size, By Value (USD Million), 2019-2029
Figure 5 India Electrical Switches Market Share, By Types, By Value, 2019-2029
Figure 6 India Electrical Switches Market Share, By Application, By Value, 2019-2029
Figure 7 India Electrical Switches Market Share, By Distribution Channels, By Value, 2019-2029
Figure 8 North India Electrical Switches Market Size, By Value (USD Million), 2019-2029
Figure 9 North India Electrical Switches Market Share, By Types , By Value, 2019-2029
Figure 10 North India Electrical Switches Market Share, By Application, By Value, 2019-2029
Figure 11 North India Electrical Switches Market Share, By Distribution Channels, By Value, 2019-2029
Figure 12 South India Electrical Switches Market Size, By Value (USD Million), 2019-2029
Figure 13 South India Electrical Switches Market Share, By Types , By Value, 2019-2029
Figure 14 South India Electrical Switches Market Share, By Application, By Value, 2019-2029
Figure 15 South India Electrical Switches Market Share, By Distribution Channels, By Value, 2019-2029
Figure 16 East India Electrical Switches Market Size, By Value (USD Million), 2019-2029
Figure 17 East India Electrical Switches Market Share, By Types , By Value, 2019-2029
Figure 18 East India Electrical Switches Market Share, By Application, By Value, 2019-2029
Figure 19 East India Electrical Switches Market Share, By Distribution Channels, By Value, 2019-2029
Figure 20 West India Electrical Switches Market Size, By Value (USD Million), 2019-2029
Figure 21 West India Electrical Switches Market Share, By Types, By Value, 2019-2029
Figure 22 West India Electrical Switches Market Share, By Application, By Value, 2019-2029
Figure 23 West India Electrical Switches Market Share, By Distribution Channels, By Value, 2019-2029

List of Tables

Table 1 India Electrical Switches Market Size, By Value (USD Million), 2019-2029
Table 2 India Electrical Switches Market Share, By Types, By Value, 2019-2029
Table 3 India Electrical Switches Market Share, By Application, By Value, 2019-2029
Table 4 India Electrical Switches Market Share, By Distribution Channels, By Value, 2019-2029
Table 5 North India Electrical Switches Market Size, By Value (USD Million), 2019-2029
Table 6 North India Electrical Switches Market Share, By Types , By Value, 2019-2029
Table 7 North India Electrical Switches Market Share, By Application, By Value, 2019-2029
Table 8 North India Electrical Switches Market Share, By Distribution Channels, By Value, 2019-2029
Table 9 South India Electrical Switches Market Size, By Value (USD Million), 2019-2029
Table 10 South India Electrical Switches Market Share, By Types , By Value, 2019-2029
Table 11 South India Electrical Switches Market Share, By Application, By Value, 2019-2029
Table 12 South India Electrical Switches Market Share, By Distribution Channels, By Value, 2019-2029
Table 13 East India Electrical Switches Market Size, By Value (USD Million), 2019-2029
Table 14 East India Electrical Switches Market Share, By Types , By Value, 2019-2029
Table 15 East India Electrical Switches Market Share, By Application, By Value, 2019-2029
Table 16 East India Electrical Switches Market Share, By Distribution Channels, By Value, 2019-2029
Table 17 West India Electrical Switches Market Size, By Value (USD Million), 2019-2029
Table 18 West India Electrical Switches Market Share, By Types , By Value, 2019-2029
Table 19 West India Electrical Switches Market Share, By Application, By Value, 2019-2029
Table 20 West India Electrical Switches Market Share, By Distribution Channels, By Value, 2019-2029
Table 21 Anchor Company Overview
Table 22 Anchor Financial Overview
Table 23 Havells Company Overview
Table 24 Havells Financial Overview
Table 25 GM Modular Company Overview
Table 26 GM Modular Financial Overview
Table 27 Schneider Electric Company Overview
Table 28 Schneider Electric Financial Overview
Table 29 ABB Company Overview
Table 30 ABB Financial Overview
Table 31 Legrand Company Overview
Table 32 Legrand Financial Overview
Table 33 Wipro Company Overview
Table 34 Wipro Financial Overview
Table 35 Goldmedal Company Overview
Table 36 Goldmedal Financial Overview
Table 37 Polycab Company Overview
Table 38 Polycab Financial Overview
Table 39 Finolex Company Overview
Table 40 Finolex Financial Overview
Table 41 Great White Company Overview
Table 42 Great White Financial Overview
Table 43 Crompton Greaves Company Overview
Table 44 Crompton Greaves Financial Overview
Table 45 Other Prominent Players Company Overview
Table 46 Other Prominent Players Financial Overview