DUBLIN--(BUSINESS WIRE)--The "India Switchgear (LV, MV, HV) Market Outlook, 2023" report has been added to ResearchAndMarkets.com's offering.
'India Switchgear (LV, MV, HV) Market Outlook, 2023' gives a comprehensive analysis on the switchgear industry of India.
The major causes for the increase in the market are changes in mainly legal and political environmental factors such as demonetization, GST, smart cities project, government's safety norms, rural electrification project, electricity for all, and new tariff plans.
India Switchgear market is expected to grow with a CAGR of more than 7% in the forecasted period of FY 2017-18 to FY 2022-23. The period will witness the dominance of Low Voltage Switchgear and the consumers will be shifting from conventional fuse method to switchgear like MCB, MCCB for home electrification.
The major reason for so is the high economic development of India which has resulted in higher purchasing power to Indian consumer, changing preferences, Increase concern towards safety, brand awareness by different media etc. In Low Voltage Switchgear, market is still lead by Contactors, while there is a tough fight between products like MCB and ACB. Medium and High Voltage Market is expected to have stagnant growth over next 5 years.
Government initiative and polices will help to rise both switchgear market, Low Voltage & Medium and High Voltage Switchgear Market. In India by region, North and South region combine covers more than 55% market share of India Switchgear Market.
Market Trends & Developments
- Increasing Utilization of Power
- Expanded Adoption of Compact GIS in Substations
- Focus on Standardized Designs of Switchgears
- Move Towards Upgraded Switchgear Technology
- Wide availability through E-commerce market
Key Topics Covered:
1. Executive Summary
2. India Switchgear Market Outlook
3. India Low Voltage Switchgear Market Outlook
4. Medium and High Voltage Switchgear Market
5. Trade Dynamics
6. PEST Analysis
7. Market Dynamics
8. Market Trends & Developments
9. Government's Initiative in Electrical Industry
10. India Power Sector Overview
11. Indian Economic Profile
12. Competitive Landscape
13. Strategic Recommendation
- ABB India Limited
- Anchor Electricals Private Limited
- Bharat Heavy Electrical Limited
- GE T&D India Limited
- Havells India Limited
- Larsen & Toubro Limited
- Schneider Electric Infrastructure Limited
- Siemens Limited
- Toshiba Transmission & Distribution Systems (India) Private Limited
For more information about this report visit https://www.researchandmarkets.com/research/52ntqs/india_switchgear?w=4