India Electrical Equipment Market to Record Growth of $33.74 Billion | ABB Ltd., Bharat Heavy Electricals Ltd. and CG Power and Industrial Solutions Ltd. become dominant players

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According to recent Technavio market research, the electrical equipment market in India should increase by $33.74 billion from 2020 to 2025, growing at a CAGR of 9% over the forecast period. The report provides a detailed analysis of drivers and opportunities, top winning strategies, competitive scenario, future market trends, market size and estimates, and major investment pockets.

Overview of Suppliers-

The electrical equipment market in India is fragmented due to the presence of several regional and international actors. Established players in the market make significant investments in R&D to introduce new innovative products in order 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, flow meters and others.

Find additional highlights on vendors and their product offerings. Download a free sample report

Regional Market Outlook

The growth of the electrical equipment market in India will be significant during the forecast period. The growing number of manufacturing plants and the establishment of initiatives such as “Make in India“create several growth opportunities in the market. Additionally, the growing demand for transformers, such as autotransformers, power transformers, instrument transformers, distribution transformers, potential transformers, isolation transformers and current transformers is expected to drive the growth of the 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 countries mentioned above.

Latest drivers and trends driving the market-

  • Market leader for electrical equipment:
    • Increase in power demand:

The growth of the middle class population in India increases the demand for housing. Moreover, the availability of cheap labor and favorable government regulations encourage global companies to expand their presence by setting up production plants in the country. Moreover, increasing investment in the construction industry is creating a large demand for electrical equipment in the country, thus driving the growth of the market.

  • Electrical Equipment Market Trend:
    • Growth of cross-border electricity exchanges:

Many people in countries like Bangladesh, Nepaland Burma do not have access to electricity due to lack of power generation capacity. Therefore, these countries are involved in cross-border electricity trade with India to meet their energy needs. The number of such agreements between these countries is increasing as they help them reduce energy prices, overcome electricity shortages, mitigate electricity losses and reduce their carbon footprint. This has resulted in growth in electricity generation and distribution in India and subsequently stimulates the demand for electrical equipment.

Find additional information on various other market drivers and trends mentioned in our Sample FREE Report.

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India Electrical Equipment Market Scope

Report cover

Details

Page number

120

base year

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 9%

Market Growth 2021-2025

$33.74 billion

Market structure

Fragmented

Annual growth (%)

3.92

Regional analysis

India

Successful market contribution

100% India

Main consumer countries

India

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

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.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the forecast period.

Personalization area

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