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. In the context of cross-border electricity trading, this business practice primarily transpires between adjacent jurisdictions, integrated within a unified electrical transmission grid. The burgeoning urbanization and population expansion in South Asia are driving a substantial surge in electricity demand. However, countries such as Bangladesh, Nepal, and Myanmar face insufficient power generation capacity, leaving millions without access to electricity. This energy access deficit poses a significant obstacle to poverty alleviation and economic progress. Cross-border electricity trade plays a pivotal role in fostering economic growth and development by reducing energy prices, mitigating power shortages, averting power shocks, and facilitating decarbonization, thereby extending and integrating markets. 

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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

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Research Analysis Overview

The Electrical Equipment Market in India encompasses power distribution solutions, electrical infrastructure development, energy management systems, industrial and building automation, grid modernization, smart meters, demand response, load forecasting, energy audits, sustainability initiatives, and green energy solutions. Key offerings include ev chargers, electrical design and engineering services, project management, supply chain management, manufacturing processes, material science, insulation materials, conductor materials, component testing, quality control, safety regulations, standards compliance, industry regulations, market regulation, pricing strategies, product life cycle, and product innovation.

Market Research Overview

The electrical equipment market in India is a significant segment of the global electrical components and equipment market, which encompasses manufacturers of circuit breakers, power cables, electric motors, power transformers, and distribution transformers, among other products. This market size is calculated based on the combined revenue generated by these manufacturers, as well as those producing water heaters and accessories, 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, and safety components. Furthermore, the market includes revenue from the renting and leasing of electrical components and equipment to 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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