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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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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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