Emphasis on Voltage (High, Medium, and Low); Application (Residential/Commercial, Industrial and Utility); Regions
The India gas-insulated switchgear market was valued at USD 2 Billion in 2023 and is expected to grow at a strong CAGR of around 6.5% during the forecast period (2024-2032). India’s gas-insulated switchgear (GIS) market is constantly growing driven by rapid urbanization, the expansion of the power sector, and the increasing demand for reliable and compact power infrastructure. Moreover, the compact design of GIS makes it ideal for space-constrained areas. Recent advancements that have been observed in the market are enhancements in the GIS system such as the incorporation of an automated digital tracking system to improve performance and foretell regular maintenance. Also, the recent schemes and policies such as the Smart Cities Mission along with the drive towards integration of renewable energy sources have added more fire to the already used GIS.
The major trends to boost this market can be targeted to the government’s strategies to upgrade the power distribution grid and its reliability. Other opportunities include continued electrification activities in the rural regions and expansion of the existing infrastructure, most of which are massive opportunities for GIS. Besides, the escalating funding in renewable power plants, especially solar and wind, from both public and private funds contributes towards calling for sophisticated switchgear for efficient power transmission and distribution. For now, the indicators have pointed out the fact that the Indian GIS market enjoys favorable government policies technological evolutions, and the unceasing growth of the Indian power industry
Power Sector Reforms: The Indian government has lately initiated the following reforms aimed at restructuring the power sector in the country; The Pradhan Mantri Sahaj Bijli Har Ghar Yojana also known as Saubhagya is one of the flagship schemes of the government of India aimed at providing electricity to all households of the country by the end of the year 2018. They concern themselves with such areas as electrification and distribution which are areas that can facilitate the use of GIS.
Renewable Energy Integration: Therefore, India’s plan to achieve 500 GW of renewable power by 2030 requires sophisticated GIS solutions in power distribution and renewables integration for solar and wind power generation projects.
National Infrastructure Pipeline (NIP): It seeks to improve overall capacity, especially in areas that concern power and transportation. Current development in the power industry is revealing the need to enhance GIS technology, and this is well captured by the NIP which is already tightening up the power infrastructure.
West India is Expected to Grow with Significant CAGR During Forecast Period
West India holds a significant share of the Indian gas-insulated switchgear market. This is mainly due to the large industrial population, high rates of industrialization, and immense development of infrastructural facilities in this area. Maharashtra along with Gujarat, and especially the states concentrated in the western part of India, are industrial zones with numerous manufacturing facilities, large commercial complexes and business houses, and a well-developed power sector, all of which contribute to large power demands and the need to transform their grid infrastructure through advanced sophisticated GIS applications. Furthermore, the western states’ power has a major port and logistics distribution network hence requiring efficient and minimal space switchgear solutions for the power distribution.
The India Gas Insulated Switchgear market is competitive and fragmented, with the presence of several country market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market include General Electric Company, Hitachi Energy India, Schneider SE, Powell Industries, Eaton Corporation, ABB India Ltd., Mitsubishi Electric India Pvt. Ltd, BHEL, Toshiba Transmission & Distribution Systems (India) Pvt. Ltd., Mitsubishi Electric India Pvt. Ltd.
In 2023, ABB India launched eco-efficient switchgear PrimeGear™ ZX0, with SF6-free alternatives for applications up to 12 kV reducing the global warming potential by 100%
In 2023, Toshiba Transmission & Distribution Systems (India) Private Limited (TTDI received orders for 23 units of 400kV and 9 units of 220kV Gas Insulated Switchgear (GIS) for the development and enhancement of power transmission and distribution networks to the new 2X500MVA substation at Xeldem in Goa and pooling substations of solar and wind renewable project at Alamuru and Kodamuru at 400kV voltage levels
The India gas-insulated switchgear market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. India Gas Insulated Switchgear Market Revenue (usd Bn), 2022-2032f
7. Market Insights By Voltage
8. Market Insights By Application
9. Market Insights By Region
10. Value Chain Analysis
11. Competitive Landscape
12. Company Profiled
13. Acronyms & Assumption
14. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the India gas-insulated switchgear market were the three major steps undertaken to create and analyze the adoption of India gas-insulated switchgear in major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the India gas insulated switchgear market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the India gas insulated switchgear market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the India gas insulated switchgear market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as voltage, application, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the India gas-insulated switchgear market. Further, we conducted factor analysis using dependent and independent variables such as the voltage, and application of the India gas-insulated switchgear market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in India gas-insulated switchgear market sector across the country
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the India gas insulated switchgear market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to varied factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast 2032 for different segments and sub-segments across the major markets in India. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the India gas-insulated switchgear market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the voltage, and application in the India gas-insulated switchgear market.
The current & future market trends of the India gas insulated switchgear market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the Indian gas-insulated switchgear market?
Q2: What are the driving factors for the growth of the India Gas Insulated Switchgear market?
Q3: Which segment has the largest share of the India Gas Insulated Switchgear market by voltage?
Q4: What are the emerging technologies and trends in the India Gas Insulated Switchgear market?
Q5: Which region will dominate the India Gas Insulated Switchgear market?
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February 11, 2025
