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India’s Switchgear & Control Gear Industry to Grow at a Mere 10% CAGR Till 2017

Jan 22 2014, 4:14am CST | by

Pune, India, January 22, 2014 --(PR.com)-- Despite being the 5th largest producer & consumer of electricity in the world, there has only been a marginal boost to the demand for distribution...

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27 weeks ago

India’s Switchgear & Control Gear Industry to Grow at a Mere 10% CAGR Till 2017

Jan 22 2014, 4:14am CST | by

Pune, India, January 22, 2014 --(PR.com)-- Despite being the 5th largest producer & consumer of electricity in the world, there has only been a marginal boost to the demand for distribution machinery.

- India’s switchgear and control gear industry, valued at INR 135 billion, is expected to be worth approximately INR 215 billion by 2017
- The industry is facing challenges such as cheap imports from markets like China, and a slowdown in the power sector

India is the fifth largest producer and consumer of electricity in the world. According to the 11th five year plan, the country was only able to achieve 69% of its planned capacity of 78,700 MW. To overcome the demand and supply deficit, the Indian government is gradually increasing the planned capacity addition. Despite this, there has only been a marginal boost to the demand for distribution machinery such as switchgears and control gears.

The switchgear and control gear industry in India, currently accounting for ~10% of the overall electrical equipment sector, was valued at INR 135 billion (~USD 2 billion) in FY2013. ValueNotes estimates that the industry will be worth approximately INR 215 billion (~USD 3.5 billion) by FY 2017 - a slower CAGR of ~10%, compared to 15% between FY2010 and FY2012. This diminished growth is due to an increase in cheap imports, an uncertainty and delay in the implementation of power reforms, and the lack of adoption of international standards in manufacturing by local players.

“The rise in imports, especially in low voltage switchgears, is the biggest challenge that Indian players are facing, along with the entry of sub-contractors with limited technical know-how,” says Tejaswee Shrestha, research analyst at ValueNotes. “The lack of standard specification also has resulted in the overall reduction of exports by ~10% in the past year,” she adds.

Low voltage switchgears, which accounts for more than 55% of the total market, has a higher share of unorganized players; and this is expected to increase in the coming years. The forward integration of these unorganized players to medium and high voltage segments can lead to an increase in the unorganized market share in these segments too, which is currently dominated by five or six players such as ABB Ltd, Alstom T&D India, Bharat Heavy Electricals, and Crompton Greaves.

The ValueNotes report, titled Switchgear and control gear industry in India, 2013-2017, provides a comprehensive view on how the switchgear industry is performing, its market size, growth and drivers and inhibitors contributing to its growth.

To learn more about the report -
- follow this link - http://www.valuenotes.biz/knowledge-center/short-industry-reports/switchgear-control-gear-industry-india-2013-17/

Contact Information:
ValueNotes Database Pvt Ltd
Nandita Harendra
912066231743
Contact via Email
http://www.valuenotes.biz/

Read the full story here: http://www.pr.com/press-release/537958

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Update
11

1 hour ago

Asia stocks sideswiped by Wall Street, but China motors on

Aug 1 2014 1:30am CDT | Source: Reuters India

SYDNEY (Reuters) - Asian shares were mostly under water on Friday after a sudden slump on Wall Street spilled over globally, though a surprisingly strong pick up in manufacturing helped Chinese markets hold at seven-month ...
Source: Reuters India   Full article at: Reuters India
 

 
Update
10

1 hour ago

Wall Street slump spills over to Asia, but China motors on

Aug 1 2014 1:30am CDT | Source: Business Standard

Asian shares were mostly under water on Friday after a sudden slump on Wall Street spilled over globally, though a surprisingly strong pick up in manufacturing helped Chinese markets hold at sev ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
9

2 hours ago

China Manufacturing PMIs Rise to New Multi-Month Highs as Yuan Awaits More Dollar Cues

Aug 1 2014 12:19am CDT | Source: IBTimes UK

Chinese yuan trades lower despite manufacturing indices showing faster expansion ...
Source: IBTimes UK   Full article at: IBTimes UK
 

 
Update
8

3 hours ago

Hang Seng eases at lunch

Jul 31 2014 11:35pm CDT | Source: The Standard: China's Business Newspaper

Hong Kong stocks ended the morning 0.52 percent lower, despite the release of official figures showing Chinese manufactur ...
Source: The Standard: China's Business Newspaper   Full article at: The Standard: China's Business Newspaper
 

 
Update
7

5 hours ago

Official survey shows China manufacturing at highest in 27 months after mini-stimulus measures

Jul 31 2014 9:42pm CDT | Source: Canadian Business Online

HONG KONG – Chinese manufacturing rose to the highest level in more than two years in July in the latest sign that the world’s No. 2 economy is perking up after a series of mini-stimulus measures unleashed by authorities. The purchasing managers’ index compiled by the China Federation of Logistics and Purchasing rose to 51.7 last month from June’s 51.0 and is at the highest level since April 2012. A separate PMI by HSBC, also released Friday, was revised down to 51.7 from its prelim ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
5

5 hours ago

China manufacturing activity surges in July

Jul 31 2014 9:34pm CDT | Source: The Standard: China's Business Newspaper

Official data shows China's manufacturing activity increased sharply in July, rising at its fastest pace in more than two years. ...
Source: The Standard: China's Business Newspaper   Full article at: The Standard: China's Business Newspaper
 

 
Update
4

6 hours ago

China manufacturing growth speeds up

Jul 31 2014 8:40pm CDT | Source: BBC News

China's factory activity grows at its fastest pace in more than two year in July, the latest in a series of signs that the country's economy may be stab ...
Source: BBC News   Full article at: BBC News
 

 
Update
3

6 hours ago

Here Comes HSBC China PMI...

Jul 31 2014 8:30pm CDT | Source: Business Insider

HSBC China manufacturing PMI for July is out at 9:45 p.m. ET. Economists polled by Bloomberg are looking for manufacturing PMI to rise to 52, from 50.7 the previous month. The flash reading out earlier in July showed PMI climbing to an 18-month high of 52. A reading below 50 indicates contraction.  Earlier we got the official PMI number which climbed to 51.7, from 51 in June and beating expectations for a rise to 51.4. China's mini-stimulus ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
2

6 hours ago

China Manufacturing Gauge Hits 27-Month High

Jul 31 2014 8:24pm CDT | Source: WSJ.com: Asia Home

A closely watched gauge of manufacturing activity in China improved in July, the latest sign of recovery in the sector. The official manufacturing Purchasing Managers Index rose to 51.7 in July compared with 51.0 in June, marking a 2 ...
Source: WSJ.com: Asia Home   Full article at: WSJ.com: Asia Home
 

 
Update
1

6 hours ago

China factory activity at fastest pace in over 2 years

Jul 31 2014 8:01pm CDT | Source: CNBC

Activity in China's vast manufacturing sector continued to pick up steam in July, two sets of data showed on Friday. ...
Source: CNBC   Full article at: CNBC
 

 

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