Indian Switchgear Market Size, Top Companies and Trends Forecast 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Indian Switchgear Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the Indian switchgear market share, size, growth, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Switchgear
Switchgear refers to a combination of electrical disconnect used to control, protect, and isolate electrical equipment and circuits. It comprises circuit breakers, switchboards, and metal-enclosed switchgear, which is enclosed in metal for safety and protection. It consists of various components such as circuit breakers, disconnect switches, relays, contactors, and fuses, each serving a specific function in the system. It is typically found in power generation, transmission, and distribution setups, as well as industrial and commercial facilities. It ensures the reliability of electrical systems by protecting them from faults and overloads, reducing downtime and costly repairs. It prevents electrical accidents, protects personnel from electrical hazards, and minimizes the risk of fires and explosions. It facilitates easy isolation of faulty equipment for maintenance and repairs, minimizing disruption to the entire system.
How Big Is the Indian Switchgear Market?
The India switchgear market size reached US$ 10 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.5 Million by 2028, exhibiting a growth rate (CAGR) of 6.84% during 2023-2028.
Request Sample Copy of This Report: https://www.imarcgroup.com/india-switchgear-market/requestsample
What are the growth prospects and trends in the Indian switchgear industry?
At present, the increasing demand for switchgear to distribute electrical power from a primary source to various secondary circuits, ensuring that power reaches its intended destination, represents one of the crucial factors impelling the market growth in India. Besides this, the rising utilization of switchgear, as it allows operators to control the flow of electricity by switching circuits on or off, enabling maintenance, repairs, and changes in power distribution, is contributing to the market growth.
In addition, the growing push towards renewable energy sources like hydro, solar, and wind power, to lower carbon footprints and levels of pollution is offering a favorable market outlook. Apart from this, the increasing implementation of policies by the Government of India to facilitate the local production of switchgear products is supporting the market growth in the country.
Additionally, the rising upgradation of existing power distribution networks to meet the increasing power demands is strengthening the market growth. Moreover, the rising demand for reliable and high-performance switchgear in the automotive and electronics sector is bolstering the growth of the market.
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/india-switchgear-market
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Voltage Type:
- Low-Voltage
- Medium-Voltage
- High-Voltage
Breakup by Insulation:
- Gas Insulated Switchgear (GIS)
- Air Insulated Switchgear (AIS)
- Others
Breakup by Installation:
- Indoor
- Outdoor
Breakup by End Use:
- Commercial
- Residential
- Industrial
Breakup by Region:
- North India
- West and Central India
- South India
- East India
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/
