India Electrical
Switches Market is valued at INR
56,394.79 million in FY2022 and is anticipated to project robust growth
in the forecast period with a CAGR of 7.99% owing to increasing number of real estate and
construction projects, particularly in the residential sector, across the
country. The residential sector is experiencing strong demand for modular
switches due to its aesthetics, as more and more individuals are replacing
their outdated switches with modular switches that match their wall paints and
interior decor.
A
switch that opens and shuts an electric circuit is electromechanical in nature.
In turn, this causes the flow of electric current to cease and start. Switches
can contain many sets of contacts that are all controlled by the same actuator
or knob, and they can have contacts that function concurrently, sequentially,
or alternately. Electrical switches are binary systems; the whole power is
either switched on or off.
Increasing concerns towards industrial
safety
Electrical switches are utilized in a
variety of industries, including commercial, residential, and industrial
settings where safety and security are essential to the efficient operation of
electrical terminals. They are built to handle a mechanically demanding
environment or changes in temperature and are intended for sophisticated
industrial applications. A switch on an electrical system offers security and
adaptability to customize networks without sacrificing quality or performance.
In homes, switches have demonstrated that children can use them safely.
Electrical switches are therefore required in the industrial sector due to
rising concerns over exposed wire terminals or negligent handling of electronic
equipment. These factors are creating rising demand for electrical switches in
India.
Binding regulations by governing bodies
are driving the market
The
Government of India has enacted regulations for installing electronic
equipment, including cable and conduit management, power distribution and
wiring, and energy management. The demand for switches is driven by growing
concern about failures caused by a lack of maintenance of electronic components
such as switches, conduits, cables, and other products. This has also created
growth opportunities for manufacturers. According to regulations established by
the Central Public Works Administration, factory-manufactured, quality-approved
switches sized for flush/surface mounting are mandatory for installation.
Additionally, standardized switches with switch covers should be installed in
residential and non-residential buildings to provide additional protection.
These regulations drive demand for high-quality electrical switches in end-use
industries such as construction, real estate, energy, IT, telecommunications,
and the public sector.
Investments
and rising economic development
The
switchgear product line, notably switches, is constantly expanding. For
instance, switch and switchgear manufacturer Havells India Ltd. is expanding
its Baddi facility. The business doubled its capabilities to 10 lakh daily SKUs
by investing Rs 100 crore in the expansion. Additionally, new products with a
creative edge have been created, like the Monza-i water heater, Signia smart
switches, and many others. Moreover, India's economic development has increased
construction in domestic industries such as hospitality, healthcare, retail, IT
and telecoms, and education. Electrical wiring and security demands are closely
related to construction activities. Therefore, it is imperative to use highly
efficient switches that ensure protection and safety. This can be achieved by
using electrical switches. All these factors are contributing in the growth of
India Electrical Switches Market.
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Market Segmentation
The India
Electrical Switches Market is segmented based on By Type, By Switch Type, By Application,
By Distribution Channel, By Region and By Company. Based on Type, the market is
further fragmented into Modular and Non-Modular. Based on the Switch Type, the
market is segmented into 1 Way Switch, 2 Way Switch, Push Bell Switch,
Dimmer/Regulator Switch, Motor Starter Switch, and Others. Based on the
Application, the market is segmented into Residential, and Non-Residential.
Based on Distribution Channel, the market is segmented into Institutional,
Online, Retail Stores, Hypermarket/Supermarket. The market analysis also
studies the regional segmentation, divided among North, South, East & West.
Company Profiles
Panasonic Life Solutions India Pvt. Ltd, Havells India Ltd, Legrand (India) Private Limited, Wipro
Enterprises (P) Limited, ABB India Limited, Goldmedal Electricals Pvt. Ltd, Crompton Greaves Consumer Electricals
Limited, Siemens Limited, Polycab India
Limited, Signify Innovations India Limited are among the major market players in
the India platform that lead the market growth of the India Electric Switches. Panasonic life solutions India launches affordable
modular switch "ziva" in Hyderabad.
Recent
Developments
· As of April,2022, Panasonic Life Solutions India
announced the opening of a new manufacturing facility in Sri City, Andhra
Pradesh. The facility is intended to strengthen the company's presence in the
southern region and create market synergies by providing fast material delivery
and customer satisfaction. "Highly automated" units will be
distributed. This is the company's first electrical equipment manufacturing
facility in South India and its seventh in India, following facilities in the
North and West regions.
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Attribute
|
Details
|
|
Market size value in 2022
|
INR
56,394.79 million
|
|
Revenue Forecast in 2030
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INR 1,02,917.60
million
|
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Growth Rate
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7.99%
|
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Base Year
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2022
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Historical Years
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2030
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Quantitative Units
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Revenue in (INR million), and CAGR for 2018-2022 and 2023-2030
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Report Coverage
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·
Revenue forecast, company share,
competitive landscape, growth factors, and trends
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|
Segments Covered
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·
Type
·
Switch Type
·
Application
·
Distribution Channel
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Regional Scope
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North, South, East & West.
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Key Companies Profiled
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Panasonic Life Solutions India Pvt. Ltd,
Havells India Ltd, Legrand (India) Private Limited, Wipro Enterprises (P)
Limited, ABB India Limited, Goldmedal Electricals Pvt. Ltd, Crompton Greaves
Consumer Electricals Limited, Siemens Limited, Polycab India Limited, Signify
Innovations India Limited, Schneider Electric India Pvt. Ltd, Simon Electric Pvt. Ltd,
GM Modular Pvt. Ltd, Honeywell Electrical
Devices and Systems India Ltd, GreatWhite Global Pvt. Ltd.
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Customization Scope
|
10% free report customization
with purchase. Addition or alteration to country, regional & segment
scope.
|
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Pricing and Purchase Options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/pdf format on special request)
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Report Scope:
In this report, India Electric Switches has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
·
India Electrical
Switches Market, By Type:
o Modular
o Non-Modular
- India Electrical
Switches Market, By Distribution Channel:
o
Retail
Stores
o
Institutional
o
Hypermarket/Supermarket
o
Online
·
India Electrical
Switches Market, By Switch
Type:
o 1 way switch
o Dimmer/Regulator Switch
o 2 way switch
o Push Bell Switch
o Motor Starter Switch
o Others
·
India Electrical
Switches Market, By Application:
o Residential
o Non-Residential
·
India Electrical
Switches Market,
By Region:
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in India Electric Switches
Available Customizations:
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:
Company
Information:
- Detailed analysis and profiling of additional market players (up to five).