Boston, MA -- (ReleaseWire) -- 06/12/2014 -- The report titled 'India Switchgear Market Outlook to 2018 - Sustained Demand for Low Voltage Switchgears in Residential and Commercial Sector' presents a comprehensive analysis of the industry aspects including market size by value of switchgears. The report also entails the market share analysis and company profiles of major players operating the switchgear market in India. The future analysis, trends and developments, government regulations and segmentation by product types, end usage and industry structure have also been discussed in the industry research report.
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India switchgear market has reported a stupendous CAGR of 21.6% over the period FY'2008 to FY'2013. The market registered revenue worth USD ~ million in FY'2013. In FY'2013, the switchgear market in India grew by 27.3% compared to 48.2% growth registered in FY'2012. The high growth in FY'2012 was significantly attributed to the increased demand for energy generation equipments which resulted in increased sales of high and medium voltage switchgears in the country.
India switchgear market can be segregated into 3 categories on the basis of voltage, including low voltage switchgears, medium voltage switchgears and high voltage switchgears. The contribution of low voltage switchgear, comprising of air circuit breakers (ACB) molded case circuit breakers (MCCB), miniature circuit breakers (MCB), residual current devices (RCD) and contractors and relays stood the highest in FY'2013. The market contribution of low voltage switchgears has displayed a remarkable traction, surging from ~% in FY'2008 to ~% in FY'2013. This progressive increase in the market share of low voltage switchgears has been largely attributed to increased urbanization, construction of new residential households and commercial areas taking place in the country, coupled with the growing concerns for safety and security with respect to the electric equipments.
The country's developing infrastructure across various sectors including residential, commercial and transport has been the prime factor that has resulted growth in the demand for switchgears in India. Growth in sectors including oil and gas, petrochemicals, steel, cement, and telecom has provided a significant impetus to the growth of this market particularly the industry's HV segment.
Companies Mentioned in this Report: Larsen and Turbo, Schneider Electric, Siemens, Legrand, ABB, Havells
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