Latest News- Switchgear Market in India: Air-insulated switchgear is expected to lead the Type segment during 2025-2029

The Switchgear Market in India is being driven by Growing renewable power generation in India

The Switchgear Market in India is expected to grow at a CAGR of 9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 6857.6 million. The Indian switchgear market is experiencing significant growth due to infrastructure advancements and expanding production facilities. Intelligent power distribution solutions, including smart switchgear, are essential for enhancing performance, ensuring power continuity, and optimizing resources in residential areas. New switchgear and switchboard apparatus are versatile, energy-efficient, and future-proof. The proliferation of smart grids has led to the widespread adoption of smart switchgear, capable of managing increasing renewable energy integration into the grid while reducing transmission, operation, and maintenance costs. As the convergence of cyber and physical systems gains momentum and digital technology becomes more cost-effective, intelligent power management offers new business opportunities. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Air-insulated switchgear
  • Gas insulated switchgear
• Installation Sites
  • Indoor
  • Outdoor
• End-user
  • Commercial
  • Industrial
  • Residential
• Variant
  • Low voltage (LV) switchgear
  • Medium voltage (MV) switchgear
  • High voltage (HV) switchgear
• Geography
  • India

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

• Growing renewable power generation in India
• Rise in number of residential and commercial building projects in India
• Expanding transmission and distribution (T and D) networks in India

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

• Availability of refurbished and counterfeit products for switchgear
• Volatility in prices of raw materials used for switchgear
• Challenges with inadequate infrastructure of transport and logistics for steel rebars

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Market Scope in Switchgear Market in India Research Report

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Research Analysis Overview

The Switchgear Market in India encompasses various aspects of Switchgear Design, Installation, and Commissioning. Key services include Fault Current and Short Circuit Calculations, Arc Flash Studies, Protective Device Coordination, and Relay Settings. Power System Stability, Transient Stability, and Power Quality are also crucial, as well as Harmonics Mitigation, Power System Simulation, and Switchgear Life Cycle Asset Management. Electrical Engineering and Power System Analysis are foundational, while Energy Efficiency, Grid Modernization, Substation Automation, Condition Monitoring, Electrical Insulation, Thermal Management, Voltage Regulation, Load Flow Studies, and Power Flow Analysis are advanced applications.

Market Research Overview

The Switchgear Market in India is a significant segment of the larger global Electrical Components and Equipment Market. This market encompasses the manufacturing and sales of Vacuum Circuit Breakers, SF6 Circuit Breakers, and Air Circuit Breakers, as well as Gas Insulated Switchgear. The parent market, which includes electrical components, equipment, and accessories manufacturers, covers industries producing electrical cables and wires, motors, automation solutions, electrical distribution and protection equipment, and HVAC systems, among others. The global market size is determined by the combined revenue generated from these sectors, along with rental and leasing services 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
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