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Updated At: Feb 28, 2022 09:00 PM (IST)
Surge in construction activities and rapid pace of electrification fuelled by government-sponsored schemes contributes to the growing demand for switchgear. Photo credit: iStock
Vijay C Roy Chandigarh, February 28
The one industry to buck the general devastation caused by the Covid pandemic is that of switchgears—manufacturers are reporting 10-15 per cent growth in the financial year 2020-21.
According to industry, initially when there was lockdown the industry suffered, but once the lockdown was lifted there was unprecedented demand for Miniature Circuit Breakers (MCB), Moulded Case Circuit Breakers (MCCB), and Residual Current Circuit Breaker (RCCB) as construction sector and electrification gathered pace.
Protection devices like MCB, RCCB are very essential parts of the electrical installation circuit to safeguard from any short circuit and overload. While MCB cuts off the main power supply preventing overload, RCCB provides protection against earth leakage in the circuit.
According to Manoj Kumar Chaudhary, Founder & Director, Vensor Electricals Pvt. Ltd, surge in construction activities and rapid pace of electrification fuelled by government-sponsored schemes—including Smart Cities, Make in India, Digital India, Integrated Power Development Scheme, and Atal Mission for Rejuvenation and Urban Transformation, among others—has increased the demand for switchgear.
The target of state governments to deliver electricity in remote areas has increased the investments in the sector facilitating the expansion of the allied industry as well.
“These factors have pushed the appliance market of which switchgear is a major one and led to a growth of 10-15 per cent,” he added.
As per a report by Research and Market, a market research firm, the Indian switchgear market is expected to reach US $3.7 billion by 2022. As switchgear is installed in residential, commercial, industrial, and utility applications, the industry will meet the projected growth figures.
With the swift pace of urbanisation and industrialisation, the Indian switchgear market is expected to flourish over the period in sync with the increasing electricity demand. Besides, the need for smart appliances to make the entire system sustainable has increased the demand for switchgear that is safe and energy-efficient. Infrastructure boost and a thriving business environment will further push the market this year.
The Indian switchgear market is already making sustained gains and is expected to flourish over the forecast period with rapid population growth, urbanisation, and industrialisation, which is increasing the demand for electricity, according to Chaudhary.
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