India Switchgear Market Insights: Trends & Forecasts

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According to the TechSci Research report titled "India Switchgear Market - By Region, Competition Forecast & Opportunities, 2018-2028," the India Switchgear market is poised for robust growth between 2024 and 2028. This anticipated growth is attributed to escalating environmental concerns, governmental initiatives, and investments in research endeavors aimed at reducing reliance on fossil fuels. The increasing energy demands across various end-use industries have led to a heightened focus on integrating advanced electric solutions to address this situation effectively.

Furthermore, the promotion of digital transformation (DX) and the growing network traffic using 5G across the country have incentivized industrialists to adopt smart switchgears and digital switchgears to enhance their capabilities. Additionally, infrastructure and construction projects such as smart cities are burgeoning, contributing significantly to the proliferation of electricity demand. The widespread usage of switchgear solutions across agriculture, energy, and utility sectors has emerged as a pivotal factor driving market growth.

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Report Scope:

In this report, the India switchgear market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• India Switchgear Market, By Insulation:

o   Air Insulated

o   Gas Insulated

o   Others

• India Switchgear Market, By Installation:

o   Indoor

o   Outdoor

• India Switchgear Market, By Voltage:

o   Low (up to 1 kV)

o   Medium (between 1.1 kV and 40 kV)

o   High (above 40 kV)

• India Switchgear Market, By Current:

o   Alternating current (AC)

o   Direct Current (DC)

• India Switchgear Market, By Enclosure:

o   MCB & MCCB

o   RCCB & ELCB

o   ACB

o   DB

o   Other Switching Devices

• India Switchgear Market, By End-User:

o   Commercial

o   Residential

o   Transmission & Distribution Utilities

o   Industrial

o   Others

• India Switchgear Market, By Region:

o   East India

o   West India

o   North India

o   South India

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The India Switchgear market is segmented into insulation, installation, voltage, current, enclosure, end-user, and region. Gas insulated switchgear (GIS) is expected to dominate the market due to its reliability, environmental-friendliness, flexibility, and low maintenance requirements compared to air-insulated switchgear (AIS). Low voltage (LV) switchgear is anticipated to lead the market, driven by its extensive deployment in distribution networks and large-scale investment by the government in power utility across India.

Key market players in the India Switchgear market:

• ABB India Limited
• Larsen & Toubro Limited
• C&S Electric Limited
• Siemens Limited
• Schneider Electric Infrastructure Limited
• CG Power and Industrial Solutions Limited
• HPL Electric and Power Limited
• Havells India Ltd.
• Legrand India Pvt. Ltd.
• GE T&D India Limited.

Recent developments in the market include Fuji Electric Co., Ltd's launch of switchgear for the global market that saves space and Panasonic Life Solutions India's introduction of the ‘UNO Plus’ Series, a premium addition to the switchgear portfolio.

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Mr. Karan Chechi, Research Director at TechSci Research, emphasizes that ongoing advancements in energy generation capacity integration with the grid, increasing penetration of IoT-enabled smart switch gears, and rising demand for electricity development are expected to drive the India Switchgear Market during the forecast period. He underscores the significance of supportive government policies, incentives, and favorable projects such as Make in India, UDAY, IPDS, DDUGJY, and “Power for All” in influencing market growth positively.

The comprehensive report titled "India Switchgear Market Segmented by DC Voltage Type, Installation Mode, End User, Module Type, Type, By Region, Competition," provides insights into the future growth potential, market size, structure, and emerging trends in the India switchgear market, aiding stakeholders in making informed investment decisions.

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