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Manufacturing & Industry
Ongoing construction and development boom to propel India's switchgear industry: Bonafide Research
A portion of the prominent trends that the market is seeing incorporate a rapid boom in the construction segment. Switchgear is necessary from the point of production of electricity to end users. As the end users and consumers are using switchgear for the residential and commercial segments, the demand for low voltage switchgear is expected to rise significantly.
The number of commercial buildings and private flats is expanding across the nation, particularly in tier 2 & 3 cities and urban centers. The residential segment is witnessing high growth to meet the rising demand for real estate in the country. This can be an added benefit and opportunity for the Low Voltage Switchgear sector to emerge from this demand. India’s Low Voltage Switchgear will continue to dominate the forecast period over Medium and High Voltage Switchgear, leading the Switchgear industry. With industry sentiments and overall economic conditions anticipated to improve, the India Low Voltage switchgear market is likely to witness higher growth rates over the next five to six years. On the back of strong infrastructure development, government initiatives towards power capacity expansion, and the development of the transmission and distribution network, the increase in India's real estate industry directly fuels the demand for switchgear. India's adoption of a mixed economy has facilitated the expansion of the private sector. Urbanization is progressing rapidly, and by 2030, 40.76% of the country's population is expected to reside in urban areas. The government’s increased focus on infrastructure development and the launch of ambitious smart city projects are further accelerating the demand for quality switchgear solutions.
According to the report on 'India Switchgear (LV, MV, HV) Market Outlook, 2027-28' published by Bonafide Research, the overall market for India's switchgear industry is anticipated to grow by more than 5% at the end of the forecast period. Low Voltage Switchgear will continue its dominance during the forecast period, while Medium and High Voltage Switchgear are expected to see stagnant growth in the next five years. MCB, MCCB, Contactors, and ACB will be leading products in the Low Voltage Switchgear industry in the coming years.
Low Voltage switchgear manufacturers will still need to navigate increasing pricing pressures due to intense competition and dominance from regional local players and the unorganized market. To sustain themselves, Low Voltage switchgear manufacturers must adopt new marketing strategies and introduce innovative products. They should also expand their distribution networks to strengthen their market presence. The switchgear market will continue its growth trajectory given the aggressive reforms initiated by the government through programs such as Power for All, Make in India, the Integrated Power Development Scheme, Housing for All, and the Deendayal Upadhayaya Gram Jyoti Yojana.
The rising demand for energy-efficient and technologically advanced switchgear solutions is expected to drive further innovation in the industry. The integration of smart grid infrastructure and digital switchgear systems, which enable real-time monitoring and predictive maintenance, is gaining momentum. These advancements are particularly beneficial for industries and commercial spaces that require uninterrupted power supply and enhanced safety features.
The increasing preference for environmentally sustainable switchgear solutions is another factor contributing to market growth. With global concerns over greenhouse gas emissions, manufacturers are focusing on developing SF6-free switchgear systems. These eco-friendly alternatives are gaining traction, especially in government-led infrastructure projects that emphasize sustainability and carbon footprint reduction.
India’s increasing investments in power distribution and transmission infrastructure are expected to create significant growth opportunities for switchgear manufacturers. The electrification of rural areas, expansion of metro projects, and rapid industrialization are key drivers that will boost the demand for high-quality switchgear solutions. Moreover, government-led policies promoting domestic manufacturing, coupled with an influx of foreign investments, are expected to propel the market forward in the coming years.
Major companies that operate in the Switchgear market in India include ABB India Limited, Larsen & Toubro Limited, Havells India Limited, Siemens India, Schneider Electric Infrastructure Limited, Anchor Electricals Private Limited, GE T&D India Limited, Toshiba Transmission & Distribution Systems (India) Private Limited, and Legrand India Private Limited.
The number of commercial buildings and private flats is expanding across the nation, particularly in tier 2 & 3 cities and urban centers. The residential segment is witnessing high growth to meet the rising demand for real estate in the country. This can be an added benefit and opportunity for the Low Voltage Switchgear sector to emerge from this demand. India’s Low Voltage Switchgear will continue to dominate the forecast period over Medium and High Voltage Switchgear, leading the Switchgear industry. With industry sentiments and overall economic conditions anticipated to improve, the India Low Voltage switchgear market is likely to witness higher growth rates over the next five to six years. On the back of strong infrastructure development, government initiatives towards power capacity expansion, and the development of the transmission and distribution network, the increase in India's real estate industry directly fuels the demand for switchgear. India's adoption of a mixed economy has facilitated the expansion of the private sector. Urbanization is progressing rapidly, and by 2030, 40.76% of the country's population is expected to reside in urban areas. The government’s increased focus on infrastructure development and the launch of ambitious smart city projects are further accelerating the demand for quality switchgear solutions.
According to the report on 'India Switchgear (LV, MV, HV) Market Outlook, 2027-28' published by Bonafide Research, the overall market for India's switchgear industry is anticipated to grow by more than 5% at the end of the forecast period. Low Voltage Switchgear will continue its dominance during the forecast period, while Medium and High Voltage Switchgear are expected to see stagnant growth in the next five years. MCB, MCCB, Contactors, and ACB will be leading products in the Low Voltage Switchgear industry in the coming years.
Low Voltage switchgear manufacturers will still need to navigate increasing pricing pressures due to intense competition and dominance from regional local players and the unorganized market. To sustain themselves, Low Voltage switchgear manufacturers must adopt new marketing strategies and introduce innovative products. They should also expand their distribution networks to strengthen their market presence. The switchgear market will continue its growth trajectory given the aggressive reforms initiated by the government through programs such as Power for All, Make in India, the Integrated Power Development Scheme, Housing for All, and the Deendayal Upadhayaya Gram Jyoti Yojana.
The rising demand for energy-efficient and technologically advanced switchgear solutions is expected to drive further innovation in the industry. The integration of smart grid infrastructure and digital switchgear systems, which enable real-time monitoring and predictive maintenance, is gaining momentum. These advancements are particularly beneficial for industries and commercial spaces that require uninterrupted power supply and enhanced safety features.
The increasing preference for environmentally sustainable switchgear solutions is another factor contributing to market growth. With global concerns over greenhouse gas emissions, manufacturers are focusing on developing SF6-free switchgear systems. These eco-friendly alternatives are gaining traction, especially in government-led infrastructure projects that emphasize sustainability and carbon footprint reduction.
India’s increasing investments in power distribution and transmission infrastructure are expected to create significant growth opportunities for switchgear manufacturers. The electrification of rural areas, expansion of metro projects, and rapid industrialization are key drivers that will boost the demand for high-quality switchgear solutions. Moreover, government-led policies promoting domestic manufacturing, coupled with an influx of foreign investments, are expected to propel the market forward in the coming years.
Major companies that operate in the Switchgear market in India include ABB India Limited, Larsen & Toubro Limited, Havells India Limited, Siemens India, Schneider Electric Infrastructure Limited, Anchor Electricals Private Limited, GE T&D India Limited, Toshiba Transmission & Distribution Systems (India) Private Limited, and Legrand India Private Limited.
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