Latest News- Electrical Equipment Market in India: Cables and wires is expected to lead the Product segment during 2025-2029

The Electrical Equipment Market in India is being driven by Increase in number of residential and commercial building projects

The Electrical Equipment Market in India is expected to grow at a CAGR of 15.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 95306.9 million. Cross-border electricity trading plays a pivotal role in economic growth and development in the region, particularly for countries with energy deficits such as Bangladesh, Nepal, and Myanmar. This trade is primarily conducted with neighboring jurisdictions that are part of an integrated electrical transmission grid, due to the proximity and ease of power transfer. The escalating urbanization and population growth in the region have led to a substantial increase in electricity demand. Lack of power generation capacity in some countries results in millions of people being devoid of access to electricity, which is a significant barrier to poverty alleviation and economic progress. Cross-border electricity trade addresses this challenge by reducing energy prices, mitigating power shortages, averting power shocks, and facilitating decarbonization for market extension and integration. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Cables and wires
  • Transmission lines
  • Transformers
  • Switchgears
  • Others
• Application
  • Transmission and distribution
  • Generation
• Distribution Channel
  • Direct sales
  • Distributors and dealers
  • Online platforms
  • Retail stores
• Geography
  • India

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in number of residential and commercial building projects
• Rise in power generation from renewable energy sources
• Increase in investments in power sector

However, the market also witnesses some limitations, which are as follows:

• Threat from cyberattacks in power generation industry
• Issue of power losses during transmission and distribution
• Threat from refurbished and counterfeit products

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Market Scope in Electrical Equipment Market in India Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Indian electrical equipment market encompasses various sectors including electrical installation codes, power system simulation, electrical network analysis, electrical component reliability, electrical infrastructure development, power electronics converters, high-voltage equipment maintenance, electrical system optimization, electrical safety training, power generation technologies, smart meter deployment, grid modernization projects, demand response programs, energy audit methodologies, power factor improvement, electrical distribution planning, electrical system upgrades, substation automation, power cable installation, circuit protection devices, electrical equipment lifecycle, electrical system diagnostics, power system control, energy management systems, industrial motor drives, and voltage regulation techniques. These areas are crucial for ensuring efficient, safe, and reliable electrical power systems in India.

Market Research Overview

The Indian electrical equipment market is a significant segment of the global electrical components and equipment market, which encompasses manufacturers of power distribution systems, high-voltage transmission equipment, and electrical safety standards. This market includes revenue from companies producing electrical components such as motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC systems, and safety components. Additionally, the market size is calculated by incorporating rental and leasing revenues for industrial, commercial, and residential end-users.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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