Indian Low-voltage Switchgear Market, Forecast to 2023

Indian Low-voltage Switchgear Market, Forecast to 2023

  • February 2020 •
  • 116 pages •
  • Report ID: 5867523 •
  • Format: PDF
This research service examines the India Low-voltage (LV) switchgear market, using the calendar year 2018 as a base year, and insights from manufacturers, channel partners, and end users to identify drivers and restraints for the market until 2023.At the overall level, the market is segmented by product, region, end users and competition.

The study provides revenue forecasts for the total market and by product segments, assessing individual performances. Revenues are estimated at the manufacturer level without any taxes. The following end-user segments are expected to have a significant impact on the demand for LV Switchgear products during the forecast years.
• Renewable energy projects – As of September 2019, India has around 81 GW of renewable energy capacity. The government targets to achieve 175 GW target by 2022, which means around 2.4 GW needs to be installed every month from here on.
• Metro projects – A total of 700 plus metro stations and 800 plus kilometers of metro lines are expected to be commissioned during the next 5 years.
• Data centers projects – Around 4 million square feet of data center space is to be added in the next 5 years.Over the last few years, companies across all three categories – i.e., Tier I, Tier II and even Tier III – have undertook key strategic decisions towards their product portfolio. This study highlights the results of such decisions in terms of their business performance and its impact on the market in terms of market share.