Electrical Equipment Market in India to Record USD 33.74 Bn Growth | ABB Ltd., Bharat Heavy Electricals Ltd., and CG Power and Industrial Solutions Ltd. emerge as dominant players | Technavio

• Total Pages: 120
• Companies: 10+ – Including ABB Ltd., Bharat Heavy Electricals Ltd., CG Power and Industrial Solutions Ltd., EMCO Ltd., Fuji Electric Co. Ltd., Larsen and Toubro Ltd., Schneider Electric SE, Siemens AG, TD Power Systems Pvt. Ltd., and Toshiba Corp.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segments: Product (cables, switchgears, boilers, transformers, and other products)
• Geographies: North America, Europe, APAC, South America, and MEA

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According to the recent market study by Technavio, the Electrical Equipment Market in India is expected to increase by USD 33.74 billion from 2020 to 2025, progressing at a CAGR of 9% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

Vendor Insights-

The electrical equipment market in India is fragmented due to the presence of several regional and international players. Established players in the market are making significant investments in R&D to introduce new and innovative products to expand their customer base.

ABB Ltd.: The company offers electrical equipment such as drives, low and medium-voltage equipment, and others.

Bharat Heavy Electricals Ltd.: The company offers electrical equipment such as transformers, squirrel cage induction motors, slip ring induction motors, and others.

CG Power and Industrial Solutions Ltd.: The company offers electrical equipment such as FHP/commercial motors and others.

EMCO Ltd.: The company offers electrical equipment such as transformers, meters, and others.

Fuji Electric Co. Ltd.: The company offers electrical equipment such as motors, transmitters, flowmeters, and others.

Find additional highlights on the vendors and their product offerings. Download Free Sample Report

Regional Market Outlook

The electrical equipment market growth in India will be significant during the forecast period. The increasing number of manufacturing plants and the introduction of initiatives such as "Make in India" are creating several growth opportunities in the market. In addition, the increasing demand for transformers, such as autotransformers, power transformers, instrument transformers, distribution transformers, potential transformers, isolation transformers, and current transformers is expected to foster the growth of the market electrical equipment market in India during the forecast period.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Drivers & Trends Driving the Market-

• Electrical Equipment Market Driver:
• Increase in the demand for power:

The growth of the middle-class population in India is increasing the demand for housing. In addition, the availability of low-cost labor and favorable government regulations are encouraging global companies to expand their presence by setting up production plants in the country. Also, increasing investments in the construction industry is creating significant demand for electric equipment in the country, thereby driving the growth of the market.

• Electrical Equipment Market Trend:
• Growth in cross-border electricity trading:

Many people in countries such as Bangladesh, Nepal, and Myanmar do not have access to electricity owing to the lack of power generation capacity. Hence, these countries are involved in cross-border electricity trading with India to meet their energy requirements. The number of such agreements among these countries is on the rise as it helps them reduce energy prices, overcome power shortages, mitigate power losses, and reduce their carbon footprint. This has resulted in a growth in the generation and distribution of power in India and is subsequently driving the demand for electrical equipment.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

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SOURCE Technavio