Market Research Report
India Electrical Materials Market, By Type, By End User, By Region, Competition, Forecast & Opportunities, FY2026
|Published by||TechSci Research||Product code||979726|
|Published||Content info||92 Pages
Delivery time: Inquiry
|India Electrical Materials Market, By Type, By End User, By Region, Competition, Forecast & Opportunities, FY2026|
|Published: January 1, 2021||Content info: 92 Pages||
India Electrical Materials Market, By Type (Circuit Breakers, Light Switches, Plugs & Sockets, Voltage Switcher, Cable Management, Cable Duct, Electrical Conduit, Others), By End User (Industrial, Commercial, Residential), By Region, Competition, Forecast & Opportunities, FY2026.
India electrical materials market was valued at USD 5969.13 Million in FY2020 and is projected to grow at double digit CAGR of 17.88% during the forecast years, to reach USD 9714.33 Million through FY2026. Increasing construction activities is the major factor driving the electrical materials market in India. The construction sector is one of the largest contributors to economic activity and is expected to grow at 7-8% per annum over the next 10 years in India. Short-term expansion of India's construction activities will be driven by a mixture of fiscal support and government policies supporting the housing market in the country. Long-term growth will mainly be driven by country's massive population, which requires continued investments into residential building construction sector, which in turn is creating a market opportunity for electrical materials manufacturers in India.
Apart from increasing use in construction sector, electrical materials are witnessing increasing used in various industries such as power plants, refinery cement industry, steel, mining, among others. The Indian government and various state governments seem to be making rapid progress in boosting the country's industrial sector. Over the next 10-15 years, industrialization in India is likely to continue its growth momentum, which is expected to create significant opportunities for electrical materials in the industrial sector.
India electrical materials market is segmented on the basis of type, end user and region. In terms of type, market can be segregated into circuit breakers, light switches, plugs & sockets, voltage switcher, cable management, cable duct, electrical conduit, and others. Among these, cable management is major demand generating segment with share of 25.25% in FY2020. Cable management includes cable trays, cable ladder, and cable baskets and is needed for the management of all electrical cables during installation, contributing for the leading share of the segment.
Some of the major companies operating in the electrical materials market of India are Anchor Electricals Pvt. Ltd., Legrand India Pvt. Ltd., Havells India Ltd., GM Modular Pvt. Ltd., Honeywell Electrical Devices and Systems India Ltd., Schneider Electric India Pvt. Ltd., Philips Lighting India Limited, Wipro Enterprises Private Ltd., ABB India Limited, GoldMedal Electricals Pvt. Ltd., and Polycab India Limited.
Years considered for this report:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of India Electrical Materials market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, India Electrical Materials market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Plugs & Sockets
Company Profiles: Detailed analysis of the major companies present in India Electrical Materials market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: