India Switchgear Market is projected to grow over the coming year. India Switchgear Market report is a part of our periodical regional publication Asia Pacific Switchgear Market outlook report. 6W tracks the Switchgear market for over 60 countries with individual country-wise market opportunity assessment and publishes the report titled Global Switchgear Market outlook report annually.

Latest 2023 Developments of the India Switchgear Market

India Switchgear Market is predicted to grow over the years owing to several growth factors. Apart from this, the industry has come across various development such as increasing demand for smart grid technology. India has been actively investing in the development of smart grid technology, which is expected to drive the demand for advanced switchgear solutions in the country. The construction sector is growing in India which is projected to increase the demand for low-voltage switchgear solutions. The Indian government has set a target to achieve a large proportion of the country's energy from renewable sources in the forthcoming years, which is likely to increase the demand for switchgear solutions in the renewable energy sector.

Moreover, the government is investing heavily in developing smart cities which also drives the overall demand for advanced switchgear solutions in the country. The growing trend towards miniaturization in the Indian market is driving the demand for compact switchgear solutions. These developments are expected to provide opportunities for growth in the Asia-Pacific Switchgear Industry in the coming years. On the other hand, Power Grid is currently working on several projects to improve the power transmission and distribution network in India. This includes the upgrade of existing switchgear networks and the installation of new switchgear. 

India Switchgear Market Synopsis

India Switchgear Market is expected to gain momentum during the forthcoming years on account of the rising surging population. The surging urbanisation, modernisation and industrialisation are expected to enhance the demand for electricity which is further contributing to the India Switchgear Market Growth. The rising implementation of the smart grid is expected to improve the power infrastructure and propel the development of the market. Additionally, the increasing schemes by the government like Make in India, Digital India and Smart cities are also driving the India Switchgear Market Share.

According to 6Wresearch, the India Switchgear Market size is projected to register growth during 2022-2028. Rising plants to integrate renewable energy coupled with urban transformation is proliferating the growth of India switchgear Industry. Growing standards to control carbon emissions and rising consumer penetration to adopt renewable system is expected to accelerate the development of the market. However, the outbreak of COVID-19 and the unplanned lockdown by the government is expected to hamper the growth of India Switchgear Market Revenue during the forecast period.

Switchgear Market Size in India

India Switchgear Market is not among the most crucial markets in the country. This market in the nation is the most prominent part of the Asia Pacific Switchgear Market. The Switchgear Market Size in India is projected to grow at XXX over the forecast period. The sector is gaining success on the back of the growing population in the country. The rising population, modernisation, urbanisation, and industrialisation. The growing demand for electricity is further supporting the Switchgear Market in India.

The increasing implementation of the smart grid is anticipated to enhance the power infrastructure as well as improve the development of the sector. In addition, government initiatives are also supporting sector growth in the country. Government schemes such as Digital India, Smart Cities, and Make in India are aiding the sector to propel well. 

Market Analysis by Insulation Types

Based on Insulation, the Gas Insulated (GIS) Switchgear that consists of high voltage is expected to account for the maximum share in the overall market owing to rising office spaces and City Buildings.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2021.
• Base Year: 2021.
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market. 

Key Highlights of Switchgear Report

• India Switchgear Market Overview
• India Switchgear Market Outlook
• India Switchgear Market Forecast
• Historical Data and Forecast of India Switchgear Market Revenues, By Voltage and By Applications for the Period 2018-2028F
• Historical Data and Forecast of India Low Voltage Switchgear Market Revenues, By Types for the Period 2018-2028F
• Historical Data and Forecast of India Low Voltage Switchgear Market Revenues, By Applications for the Period 2018-2028F
• Historical Data and Forecast of India Medium Voltage Switchgear Market Revenues, By Insulation Types for the Period 2018-2028F
• Historical Data and Forecast of India Medium Voltage Switchgear Market Revenues, By Applications for the Period 2018-2028F
• Historical Data and Forecast of India High Voltage Switchgear Market Revenues, By Types for the Period 2018-2028F
• Historical Data and Forecast of India High Voltage Switchgear Market Revenues, By Applications for the Period 2018-2028F
• Market Drivers and Restraints
• India Switchgear Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Market Player’s Revenue Shares
• Market Competitive Benchmarking
• India Switchgear Market Share, By Company
• Company Profiles
• Key Strategic Recommendations

 Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Voltage

• Low Voltage (0-1.1 kV)
• Medium Voltage (1.1-36 kV)
• High Voltage (>36 kV)

  By Low Voltage

  • Types
    • MCB
    • MCCB
    • ACB
    • Others (Distribution Boards, Contactors, Relays, Starters, Fuses, COS, MPCB)
  • Applications
    • Residential
    • Commercial
    • Power Utilities
    • Industrial
    • Others (Transportation, Oil and Gas)

• By Medium Voltage

  • Insulation Types
    • AIS
    • GIS
  • Applications
    • Residential
    • Commercial
    • Power Utilities
    • Industrial
    • Others (Transportation, Oil and Gas)

• By High Voltage

  • Insulation Types
    • AIS
    • Others (GIS, Oil Insulated)
  • Applications
    • Residential
    • Commercial
    • Power Utilities
    • Industrial
    • Others (Transportation, Oil and Gas)

Frequently Asked Questions About the Market Study:

1. What are the major constraints limiting the market growth potential?

The high cost of installation, limited local production, and stringent regulations are some of the major constraints limiting the market growth potential.

2. What are the major growth factors for the India Switchgear Market?

Government initiatives, increasing demand for electricity, and investment in the power sector are some of the major growth factors for the market. 

3. What are the initiatives undertaken by the government to modernize the country’s infrastructure?

The Indian government has been undertaking various initiatives which include the Smart City project and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), to modernize the country's infrastructure and improve the power supply. 

4. What are the various technological upgrades in the switchgear industry of India?

The development of smart grid systems and the integration of renewable energy sources are expected to create growth opportunities in the switch gear industry of India.