Switching to a Brighter Future

The switchgear market growth is driven by the rapid urbanization, industrial expansion and increased focus on development of infrastructure. The modernization of electrical grids is a priority for the government, and as a result the demand for switchgear—in the form of critical equipment for managing and protecting power systems—is on the rise. India’s switchgear market is poised to grow at a consistent CAGR over the next few years for its low voltage, medium voltage and high voltage segments. The market is driven by the high adoption of renewable energy sources, and the wide deployment of smart grid technologies, with low voltage switchgear constituting the major share of the market. This surge is also caused by the burgeoning residential and commercial construction sectors in which the reliable and efficient power distribution system is required.

The growth is one of the primary drivers of which is the increasing investment in power generation and transmission projects under various schemes. It also comes with the need for advanced switchgear solutions to manage the energy wisely in the wake of the rising penetration of electric vehicles (EVs) and their charging infrastructure. It also receives strong participation from domestic manufacturers and global players with the support of 'Make in India.' Today, from optimized automation and the integration of the IoT enabled and automated switchgear, companies are using advanced technologies to boost operational efficiency as well as meet the ever changing consumer demands. To put it simply, India’s switchgear manufacturing market is surging on the back of industrial electrification, infrastructure reforms and its increasing energy efficiency focus, making it an integral part of the country’s power sector modernization.

In this special issue, we introduce you to the top companies from this segment. Industry Outlook has identified the select few companies that have done particularly well with a high level of dedication. We have found that they have gone the extra mile in proving their commitment to excellence in an integrated manner.

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