By 2010, however, the market is expected to pick up, driven by demand from utilities, infrastructure, and industrial, residential, and commercial user segments.
New analysis from Frost & Sullivan (energy.frost.com), Indian Low and Medium Voltage Switchgear Markets, indicates this market to have witnessed growth of 15% in 2008, to register revenue worth $1600 million. Frost & Sullivan estimates this market to reach $4173.2 million by 2015, growing at a CAGR of 14.2%.
This Research Service covers market analysis, product & technology trends, market segmentation and future opportunities for the Indian LV and MV Switchgear Market at an aggregate as well as at the sub-product segment level. Besides, it also covers emerging trends industry challenges, market drivers and restraints and their likely impact on the growth of the Indian LV and MV Switchgear Market going forward
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an email to Ravinder Kaur/ Nimisha Iyer, Corporate Communications, at ravinder.kaur[.]frost.com/ niyer[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.
"The government of India is encouraging investments at the power distribution level to increase access to reliable power supply and reduce technical and commercial losses in the system through schemes such as Accelerated Power Development and Reforms Program (APDRP) and Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY). Burgeoning economic and industrial growth is set to drive demand for higher energy consumption. Key end-user sectors such as oil and gas, petrochemicals, steel, and cement have been growing at a rate of more than eight percent over the last two to three years, notes Frost & Sullivan Analyst."
All indicators point toward the power sector being one of the key future drivers of India's economic growth. The switchgear market has exhibited excellent growth primarily due to sustained demand from the vibrant residential, commercial construction, and infrastructure sectors. Demand from these sectors is likely to persist in the near future.
However, fierce price competition among the market participants impedes the overall revenue growth of the Indian LV and MV switchgear markets. Tier II and tier III suppliers target end users that prefer low-priced products, affecting the profit margins of established and organized tier I participants. Multinational companies are restrained by the competitive pricing for imported products.
"Market participants should adopt best practices to improve production efficiencies and achieve economies of scale. Such an approach will help companies reduce manufacturing costs and maintain profit margins and will be critical to overcoming price challenges instigated by tier II and tier III suppliers, concludes Frost & Sullivan."
Indian Low and Medium Voltage Switchgear Markets is part of the Energy & Power Growth Partnership Service program, which also includes research in the following markets: Low Voltage Switchgear (Air Circuit Breakers, Molded Case Circuit Breakers, Miniature Circuit Breakers, Residual Current Devices, Contactors and Relays and Switch Disconnector Fuses) markets and Medium Voltage Switchgear (Indoor Switchgear, Outdoor Switchgear, Ring Main Unit, Vacuum Circuit Breaker and SF6 Circuit Breaker) markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive research, analysis and market assessment.
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Indian Low and Medium Voltage Switchgear Markets / P240
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