Increasing Consumption of Electricity to Drive the Switchgear Market in India: Ken Research

The growing consumption of electricity, rising urbanization and infrastructural developments in the country are likely to drive the Indian switchgear market significantly. 

The switchgear market in India has witnessed a remarkable growth in the last five years. The rising housing projects, increasing consumption of electricity and increased government support have primarily driven the switchgear market. The country’s developing infrastructure across various sectors including residential, commercial and transport have been the prime factors that have resulted growth in the demand for switchgears in India.

“The India switchgear market has witnessed a remarkable surge in terms of sales revenue on account of increasing real estate projects, growing industrialization and investments in public infrastructure. Switchgear market in the country has been gaining a remarkable customer interest as observed over the past few years”. – According to the research report ‘India Switchgear Market Outlook to 2018’ by Ken Research.

The switchgears industry in India is segmented as low voltage, medium voltage and high voltage switchgears market. In FY’2013, it has been observed the share of low voltage switchgear stood the highest in the country. The high voltage switchgears are majorly installed in electric substations and in a few industries where the transmission of power is very high. Growth in sectors including oil and gas, petrochemicals, steel, cement, and telecom has provided a significant impetus to the growth of this market particularly the industry’s high voltage segment.

The future of the switchgear market is likely to showcase a favorable growth trend on account of government planning towards increasing the installed power generation capacity and growth in the country’s industrial sector. Additionally, the replacement of old switchgear equipment in substations and other transmission and distribution infrastructure reflects another prolific opportunity which is likely to stimulate growth in demand for switchgears in the country

The report provides a detailed overview on the switchgear market in India and help readers to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, electrical and electrical equipments related companies and marketing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.

 

Read More: http://www.kenresearch.com/mining-construction-infrastructure/construction-industry/india-switchgear-market-research-report/492-97.html

 

Tags: commercial, high, Industrial, low voltage, medium, residential, SF6 Circuit Breakers, Switchgear, Transmission and Distribution, Vacuum Circuit Breakers