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, particularly smart switchgear, are increasingly being adopted to enhance performance, ensure power continuity, and optimize resources in residential areas. New switchgear and switchboard apparatus are flexible, energy-efficient, and future-proof, enabling seamless integration of renewable energy sources into the grid. As the smart grid evolves, intelligent power management through smart switchgear becomes crucial for cost savings and improved grid stability. The merging of cyber and physical systems and the ubiquity of digital technology create new opportunities for advanced power management systems. 

Get more information on Switchgear Market in India by requesting a sample report

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

Benefits of Buying Global Switchgear Market in India Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Switchgear Market in India Research Report

Request Free Sample

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

Research Analysis Overview

The Switchgear Market in India is witnessing significant growth due to the adoption of smart grid technology, which includes circuit monitoring, automation software, optimization software, and analysis software for grid stability and power demand management. Electrical engineering innovations like energy storage, protection software, power electronics, and current transformers are essential for cost-effective operations and grid reliability. Distributed generation, low voltage systems, and circuit regulation are key areas of focus for sustainable energy and climate change mitigation. Grid modernization projects, including smart metering, smart city development, and power quality improvement, are driving the market. Additionally, energy policy, energy analytics, energy infrastructure development, power transformers, energy markets, and grid automation are crucial factors. The transition to renewable energy sources necessitates grid security and energy efficiency solutions, including energy efficiency audits and power outage prevention. Transmission lines and energy consumption management are also critical aspects of the market.

Market Research Overview

The Switchgear Market in India is a significant segment of the larger electrical components and equipment market. This market encompasses the manufacturing, installation, and maintenance of switchgear systems used in various applications such as manufacturing sites, utility spending on power investment projects, and grid modernization in generating stations and power infrastructures. Abnormal operating voltages and the need for process safety systems in industries further expand the market scope. The parent market, the global electrical components and equipment industry, includes companies engaged in manufacturing electrical cables and wires, components, and equipment, including switches, transmitters and receivers, motors, automation solutions, and electrical distribution and protection equipment. Technavio's market analysis covers the combined revenue generated by these manufacturers, 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
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/