Press Release

India Switchgear Market to Witness 15% CAGR until 2023

Rising infrastructure development, rural electrification and government initiatives like integrated power development scheme and smart city initiatives to propel India switchgear market through 2023

According to TechSci Research report, India Switchgear Market By Type, By Application, By Enclosure, Competition Forecast and Opportunities, 2013-2023’’, India switchgear market is projected to grow at a CAGR of over 15% during the forecast period on account of increasing electrification across rural India, rising number of infrastructure development projects, and various initiatives by central and state governments for increasing power supply and modernization of power plants. In addition, increasing demand for renewable sources of power like solar, thermal and wind is pushing the government to make investments in the same, which is further positively affecting India switchgear market. Moreover, rising need to safeguard the power transmission and installation infrastructure across end use sectors is expected to steer growth in India switchgears market in the coming years.

Browse 41 Figures spread through 88 Pages and an in-depth TOC on "India Switchgear Market"


In 2017, low voltage switchgears segment dominated India switchgears market and the segment is expected to maintain its dominance through 2023 as well. However, the market share of medium & high voltage switchgears is also expected to grow in the coming years due to rising demand for components like indoor and outdoor circuit breakers, custom built medium voltage products, etc. In 2017, Infra & Utilities applications segment generated the highest revenue in India switchgear market, however, its market share is anticipated to decline during the forecast period due to higher growth demand anticipated from the country’s industrial sector. On the basis of enclosure type, India switchgear market is segmented into MCB & MCCB, ACB, DB, RCCB & ELCB and other switching devices, with the first two types dominating the market. Larsen & Toubro Limited is the leading player in India switchgear market, followed by ABB India Limited and Siemens Ltd.

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“Southern region is the leading regional switchgear market in India on account of increasing and large-scale developments in the residential, commercial and industrial sectors. However, in the coming years, demand from Northern India is expected to increase and grow at a faster pace due to rising rural electrification and increasing number of urban households in the region. Moreover, establishment of efficient power distribution networks across the country coupled with rising government focus towards electrifying each and every household in the country is anticipated to drive growth in India switchgear market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Switchgear Market By Type, By Application, By Enclosure, Competition Forecast and Opportunities, 2013-2023 has evaluated the future growth potential of India switchgear market and provides statistics and information on market size, structure and trends. The report offers decision makers superior market intelligence, thereby enabling them to conduct thorough investment appraisal. Besides, the report also analyzes the evolving market trends along with major drivers, challenges and opportunities in India switchgear market.

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