India Switchgear Market: Size, Future, Growth Insights 2032

 India switchgear market is projected to witness a CAGR of 6.56% during the forecast period FY2026- FY2033F, growing from USD 4.09 billion in FY2025 to USD 6.80 billion in FY2033. The switchgear market has experienced significant growth in recent years due to rising investment in infrastructure, renewable energy integration and growing demand for power management devices. Switchgear is responsible for safeguarding, controlling and disconnecting electrical equipment to make power networks operate efficiently and safely, which enhances its market demand. Increased investment in infrastructure projects in the nation is increasing the demand for efficient switchgear.



Report Attributes

Details

Base Year

FY2025

Forecast Period

FY2026-FY2033F

Historical Period

FY2019-FY2024

Projected Growth Rate

CAGR of 6.56% between FY2026 and FY2033

Revenue Forecast in FY2033

USD 6.80 billion

The power demand is growing in India on account of growing population and urbanization that result in an increasing demand for switchgear in the market. Growing industrialization in the nation increases the demand for power management systems with higher efficiency, which could assist automated procedures and provide assurance on the proper supply of power hence, enhancing increasing demand for switchgear in the market. As industries, commercial establishments, and residential complexes multiply, the demand for robust power distribution systems is on rise which drive the demand for switchgear in the market.

Moreover, government and utilities companies are looking to modernize power infrastructure which including power generation and distribution systems which foster the switchgear market growth. The government is the upcoming stricter safety regulations and compliance requirements which are pushing industries to adopt switchgear to ensure safe operations. In addition, integration of renewable energy sources into the power grids creates the market opportunity for switchgear market in the coming years.

For instance, in October 2024, the power ministry announced the goal to expand India’s renewable transmission infrastructure and energy grid capacity by 2032. The government is looking to invest around USD 109 Billion to build the capacity for up to 500 GWs of renewable power. This development will increase the demand for switchgear in the utility sector for the transmission and distribution of renewable energy.

Rise in Demand for Reliable Power Supply Management Device Augmenting Market Growth

The rise in urbanization in the country drives the demand for power on a larger scale. The growing demand for energy necessitates the expansion of power generation facilities which traditional power plants and renewable energy plants. Switchgears become indispensable equipment within the utility industry for controlling and distributing the supplied power effectively and ensuring electricity finds its way to consumers in an efficient manner. Switchgear is essential in the regulation and protection of electrical equipment that fuels its demand in the market.

As the country is looking to modernize electrical grids and expand renewable power infrastructure which is fostering the growth in switchgear market size. Significant investments in utility projects are boosting the demand for advanced switchgear in the market. Moreover, the country’s shift towards renewable energy is a major driver of demand for switchgear. The switchgear is critical for integrating renewable energy (RE) sources into existing power grids and maintaining the proper flow of energy. Switchgear is essential for handling complex power distribution networks.

For instance, in July 2023, as per the Ministry of Power, the country made the electricity generation target (Including RE) for the year 2023–24 of around 1750 billion Units (BU) which is a growth of around 7.2% over an actual generation of 1624.158 BU for the previous year (2022–23). The rise in electricity generation and distribution for different applications will drive the demand for switchgear in the market.

Switchgear provides the essential electrical infrastructure that enables the safe and reliable integration of residential renewable energy systems. Furthermore, commercial and industrial sectors are adopting smart grid solutions for maintaining grid stability and reliability which drives the demand for power management devices such as switchgear in the market.

Supportive Government Policies and Initiatives Creates Market Opportunity

The Indian government is promoting electrification and modernization of power grids through various incentive plans. The government plans are mainly focusing on enhancing energy efficiency and sustainability thereby contribution to rise in demand for efficient switchgear in the market. The policies will encourage investments in reliable power supply systems which creates the opportunity for switchgear market. The government is looking to design policies that will support smart grid technologies and create a favourable environment for the adoption of advanced switchgear in the country. Moreover, government is looking to commence the safety protocols for industrial sector which creates the market opportunity for switchgear.

Governments are implementing significant investments in new energy infrastructure. In addition, Indian government is promoting the integration of renewable energy sources into the power grids which creates the opportunity for the switchgear. Policies are encouraging the initiation of new renewable energy projects create a need for switchgear thereby driving its demand in the market. Moreover, the government is promoting the domestic manufacturing of electric safety components, including switchgear which could bring economies of scale to manufacturers, hence boosting the production of efficient switchgear in the market.

For instance, the Indian government decided to launch the ‘Make in India’ initiative and Production Linked Incentive (PLI) schemes which boosted local manufacturing. The policies emphasize local manufacturing processes, reduce dependency on imports, and stimulate economic growth. This development highlights the government is helping to boost local manufacturing in the country which will drive the growth of the switchgear market in the coming years.

High Voltage Switchgear Segment Registering Growth

In India, there is a growing demand for high voltage switchgear as a result of industrialization and urbanization. The country is primarily concentrating on developing and upgrading its power infrastructure. With the growing investment in power infrastructure leading to the demand for efficient and reliable electricity supply equipment in the market. High voltage switchgear is essential to the provision of safe and efficient network operation through the regulating, protecting, and separating electrical equipment. Furthermore, utility industry seeks the construction of new transmission and distribution networks with the application of modernized devices for power control thus spearheading market demand for high voltage switchgear.

Further, government policies are leading to investment in infrastructure development projects such as power generation, transmission, and distribution projects which is generating the market opportunity for high voltage switchgears devices in the market. The initiatives of electrification of rural areas and the use of smart grid technologies further enhance the demand for smart high voltage switchgear.

Further, with the emphasis being placed on being energy-efficient as well as transmission loss-reduction, new age switchgear solutions have become accepted in the marketplace. Growing activities in industries as well as commercials, together with the upswing in the needs of data centres and IT-related infrastructure, also added to higher demand for switchgear with a high voltage rating.

West and Central Regions Dominate the India Market

West and Central regions have dominated the switchgear market and is expected to continue during the forecast period. The demand for switchgear is on the rise due to various factors such as industrialization, infrastructure development, and government initiatives. The region has numerous manufacturing units, IT parks, and industrial corridors which drives the demand for switchgear to manage automation and power distribution efficiently. The growing emphasis on automation in industrial sectors boots the need for switchgear to optimize operations. Moreover, the governments of different states are focusing on industrial growth and renewable energy which further propels the demand for switchgear in the market.

Government is taking initiatives for rural electrification programs which have further boosted the demand for switchgear in the region. Moreover, the central region is benefit from better infrastructure, higher investment inflows, and proactive state policies which drive the demand for switchgears in the market. Several utility companies are looking to invest in the power generation and transmission which going to boost the demands for the switchgear in the market.

For instance, in February 2025, Avaada Group decided to investment around USD 5.7 billion. The company decided to sign MoU with the government of Madhya Pradesh for the develop of large-scale renewable energy and storage projects in the state. The company plans to establish 6,000 MW of solar power, 700 MW of wind power, 2,100 MW of battery energy storage systems, and 2,000 MW of pumped storage projects. For managing of proper flow of current will drive the demand for switchgear in the market.

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Future Market Scenario (FY2026 — FY2033F)

  • The push towards smart grid technologies is another significant trend that drives the demand for the switchgear market.
  • Government policies aimed at promoting infrastructure development and electrification are set to boost the demand for switchgears in the country.
  • Integration of renewable energy sources in large-scale industrial applications creates the opportunity for switchgear market growth in coming years.
  • Switchgears align with government goals regarding energy efficiency and sustainability energy policies which drive its market in the forecast period.

Report Scope

“India Switchgear Market Assessment, Opportunities, and Forecast, FY2019-FY2033F”, is a comprehensive report by Markets and Data, which provides an in-depth analysis and qualitative and quantitative assessment of the current state of India switchgear market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between FY2026 and FY2033F. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Click Here:https://www.marketsandata.com/industry-reports/india-switchgear-market

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