USD 52.98 billion Growth Opportunity in Electrical Equipment Market in India from 2022 to 2027, 11.44% YOY Growth Expected in 2023 Amid Pandemic - Technavio

NEW YORK, Jan. 31, 2024 /PRNewswire/ -- The electrical equipment market in India is estimated to grow by USD 52.98 billion at a CAGR of 11.68% with a YOY growth rate of 11.44% from 2022 to 2027, according to Technavio. However, the growth momentum will progress. For more insights on the historical (2017 to 2021) and forecast market size (2023 to 2027) - Request a free sample report

Technavio has segmented the market based on Product (Cables, Transmission lines, Transformers, Switchgears, and Boilers and others), Application (Transmission and distribution, and Generation),

• The cables segment will account for a major share of the market's growth during the forecast period. In India, the demand for cables is rising alongside the growth in households and commercial sectors, driven by an increasing middle-class population. The country's attractiveness to foreign companies, aided by low-cost labor, spurs investment in construction and infrastructure projects. Government initiatives, like the Atal Distribution Transformation Yojana, aim to enhance the efficiency of distribution companies, ensuring widespread access to electricity.

Insights on the market contribution of various segments including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Free Sample Report

Increase in number of residential and commercial building projects is a key factor driving growth. India is experiencing a rise in infrastructure projects for commercial and residential buildings due to population growth and government support. This trend, notable in cities like Bengaluru and Gurugram, is driven by the increasing need for living and working spaces. Consequently, there is an escalating demand for power generation and transmission equipment to meet the growing electricity needs.

• Growth in cross-border electricity trading is a primary trend shaping growth.
• The threat from cyberattacks in the power generation industry is a significant challenge restricting growth.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a Free sample report!

Electrical Equipment Applications

Electrical equipment encompasses a wide range of devices used in electrical systems. This includes transformers, switchgear, circuit breakers, distribution boards, control panels, electrical wires and cables, electric meters, power capacitors, voltage stabilizers, electrical enclosures, power distribution units (PDUs), electrical relays, surge protectors, electric motors, generators, power inverters, power converters, electrical connectors, power sockets and plugs, lighting fixtures, LED bulbs and lamps, electrical switches, circuit protection devices, electrical fuses, electrical insulation materials, transmission towers, electrical testing equipment, electrical distribution systems, busbars, electrical substations, and renewable energy equipment like solar panels and wind turbines. These devices are essential for power generation, transmission, distribution, and utilization in various industrial, commercial, and residential applications.

What are the key data covered in this Electrical Equipment Market In India report?

• CAGR during the forecast period
• Detailed information on factors that will drive the growth between 2023 and 2027
• Precise estimation of the size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Electrical Equipment industry across India
• A thorough analysis of the competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of the Electrical Equipment Market companies in India

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Related Reports:

The Switchgear and Switchboard Apparatus Market size is forecast to increase by USD 36.93 billion, at a CAGR of 6.88% between 2023 and 2028.

The electrical explosion-proof equipment market is estimated to grow at a CAGR of 12.28% by USD 9,607.98 million between 2022 and 2027. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Application

Segmentation by Product

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential areas and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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