The switchgear market is expected to witness strong growth with government taking favourable initiatives to support the power sector. The country is also witnessing the completion of increasing number of housing projects that is driving the demand for switchgears.
The report provides a brief overview of the switchgear market in India, the market size and forecasted growth as well as product segmentation. It then elaborates on the switchgear market segments namely low tension (LT) and high tension (HT) with their respective market size and growth figures including market segmentation by product. It also provides data on the exports and imports of switchgear.
An analysis of drivers reveals that government initiatives, increasing housing projects, technological advancements and rising demand for gas insulated switchgear are creating demand for switchgear. The key challenges identified are the presence of unorganized sector, lack of skilled manpower and delay in project execution.
The report provides a competitive landscape that includes a profile of the major players in the market including their expansion plans and financials.