India Electrical Enclosures Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 7.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Electrical Enclosures Market Analysis
The India Electrical Enclosures Market is expected to register a CAGR of 7.10% during the forecast period(2024-2029).
The market is propelled by the steady rise in investments in expanding India's power generation and distribution infrastructure. According to IBEF, India was the third-largest producer and consumer of electricity worldwide, with an established power capacity of 404.13 GW as of July 2022.
- Electrical enclosures are sideboards for electronic and electrical tools that hold electrical displays, knobs, and switches and keep the equipment user from becoming electrified. They have locks to protect the electrical circuits from external factors such as rain, dust, and moisture. Due to their high safety attributes, electrical enclosures are widely used in electricity distribution, energy and power production, and building construction activities. This is expected to fuel market growth even further.
- For instance, Genetec Inc., a significant technology provider of cooperative security, public safety, operations, and business intelligence solutions, recently announced the industry's first enclosure management solution that gives traffic managers and engineers the ability to manage, monitor, and secure traffic enclosures remotely. Further, utilizing Cloud Link Roadrunner, an industry-specific NEMA TS2-compliant hardware, combined with the latest access management software, the new enclosure management solution replaces traditional mechanical locks and enables customers to know and control who, how, and when their distant enclosures are accessed.
- Furthermore, rising environmental concerns related to nuclear power and fossil fuels are encouraging governments worldwide to shift their attention to alternative energy sources such as wind and solar. They are broadly concentrating on the construction of green energy infrastructure to make use of renewable resources. Furthermore, the Government of India announced allocating USD 4.59 billion for the construction of green energy infrastructure to improve the renewable energy capability to 25,750 MW by 2022 under the "Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan."
- Investments in renewable energy have increased significantly over the past few years, which may further fuel demand growth. In addition, SJVN Limited is looking to develop 10,000 MW of solar power projects, inviting investment of INR 50,000 crores (USD 6.56 billion) in the subsequent five years in Rajasthan. Further, Adani Group has announced an investment of USD 20 billion over the next ten years in India's renewable energy generation and component manufacturing.
- Also, the increasing adoption of industrial and factory automation in the region allows the entry of additional mechanical, electromechanical, and solid-state devices, components, and controls that are required to be retained for safety and aesthetic purposes, thereby driving the demand for electric enclosures. As a result, many state governments have implemented stringent safety regulations, contributing significantly to the market's growth. According to IBEF, India is set to evolve into an international manufacturing hub with investment across the value chain. The Central Electricity Authority estimates that India's power needs must expand to 817 GW by 2030. The government intends to establish a renewable energy capacity of 500 GW by 2030.
India Electrical Enclosures Market Trends
Power Generation and Distribution Hold Significant Market Share
- The construction of solar panels and windmills is significantly increasing the demand for electrical security solutions such as electrical enclosures to prevent electricity theft and safeguard electrical circuits from external factors such as dust, rain, and others. Hence, a slew of such developments worldwide is anticipated to meet lucrative growth opportunities in the market.
- For instance, in October 2022, the Indian government planned to launch the 800-MW third unit of AP-Genco's supercritical thermal power plant at Krishnapatnam at the end of 2022. After the launch, the power generation capacity was expected to go up to 2,400 MW, according to the Agriculture Minister of India.
- The Government of India aims to adopt various initiatives to strengthen the power distribution infrastructure and increase the rate of electrification to address the growing power demand across urban and rural areas. For instance, the Ministry of Power in India has announced the launch of the Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) scheme to increase the electrification rate and improve the quality and reliability of power supply in rural areas. Such initiatives are projected to create sales opportunities for electrical cabinets in the Indian market.
- According to CEA (India), installed thermal energy capacity in India reached 235.93k megawatts in 2022, following RES at 106.37k megawatts and hydro at 46.52k megawatts.
- Moreover, according to IBEF, India was the third-largest producer and consumer of electricity worldwide, with an installed power capacity of 404.13 GW as of July 31, 2022. As of July 31, 2022, India's installed renewable energy capacity (including hydro) stood at 161.29 GW, representing 39.91% of the overall installed power capacity. In addition, NTPC announced that it would invest INR 2-2.5 crore (USD 0.27-0.34 million) over the next ten years to expand renewable capacity.
- Furthermore, in May 2022, AHEJOL, an Adani Green Energy Limited subsidiary, authorized a 390 MW wind-solar hybrid power plant in Rajasthan. This plant in Jaisalmer is India's first-ever wind and solar hybrid energy generation plant. The hybrid power plant, integrated through solar and wind power generation, harnesses the full potential of renewable energy by resolving the era's intermittency and delivering a more reliable resolution to meet the rising power demand. Such investments in power plants may further drive the studied market's growth.
Growing Urbanisation and the Stringent Government Regulations to Expand the Market Growth
- The rapid urbanization and increasing government investments to upgrade the power infrastructure across the country further augment the growth of the steel electrical enclosure industry in India. In addition, the rising demand for electricity, the increasing population, and the growing preference for compact enclosures are supporting market growth. According to MoHFW, 100 percent of India's NCT, including Delhi, Chandigarh, and Lakshadweep, are anticipated to live in urban areas by 2035.
- Furthermore, according to IBEF, under the Union Budget 2022-23, INR 19,500 crore (USD 2.57 billion) was allocated for a PLI scheme to expand the manufacturing of high-efficiency solar modules. Such investment may further drive market growth.
- The Indian government recently proposed the latest rules for purchasing and consuming green energy. The latest rules are part of government measures to encourage large-scale energy consumers, including industries, to leverage renewable energy sources for regular operations. In addition, the Ministry of New and Renewable Energy planned to undertake Rooftop Solar Programme Phase II, which aimed to install an RTS capability of 4,000 MW in the residential area by 2022 with a subsidy provision.
- The rising population in the country creates significant growth in industrial production and mining, further increasing electricity demand and thereby boosting market growth. In addition, according to IBEF, the Indian government plans to monetize assets worth INR 28,727 crore (USD 3.68 billion) in the mining sector over the financial year 2022-2025. Further, the Odisha government recently approved five key industrial projects worth INR 1.46 lakh crore (USD 19.60 billion) that are anticipated to boost the capacity of steel production by 27.5 million metric tons.
- Additionally, in June 2022, the combined index of the eight core industries was 143.4, with coal, cement, electricity, refinery products, fertilizers, steel, and natural gas production as its main drivers.
- The growing trend of automation in industries and product integration in smart homes also creates a positive growth outlook for the market. In various developing nations, there is an urgent need to upgrade the existing power infrastructure to meet the energy demand of the rapidly increasing population. Such factors have a positive impact on market growth.
India Electrical Enclosures Industry Overview
India's electrical enclosures market is favorably competitive and consists of several leading players. In terms of market share, a few substantial players currently dominate the market. The manufacturers focus on product differentiation to gain a competitive advantage. The manufacturers also try to show their products superior quality to achieve higher sales.
In February 2023, India announced a USD 4.3 billion investment in clean energy. In this announcement, authorities of India focused on solar power from the Himalayan region of Ladakh and green hydrogen production.
In October 2022, Tri-Mack Plastics Manufacturing Corp., a high-performance thermoplastic parts manufacturer, announced its latest product development accomplishment: a lightweight, high-strength enclosure made from just eight plies of unidirectional carbon fiber-reinforced thermoplastic tape and only forty-thousandths of an inch (0.40-inch) thick. The latest enclosures demonstrate Tri-Mack's expertise in producing large, thin covers with in-depth draws using UD tape.
In October 2022, Rittal, an international manufacturer of industrial and IT enclosures, introduced unique Hygienic Design Pushbutton Enclosures and Accessories explicitly developed for the high hygiene zone in food and beverage facilities. These latest accessories increase the versatility of users in the production area, assisting in ensuring work areas retain hygienic standards.
India Electrical Enclosures Market Leaders
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BCH Electric Ltd
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Schneider Electric
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ABB Ltd
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Eaton Corporation
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Emerson Electric
*Disclaimer: Major Players sorted in no particular order
India Electrical Enclosures Market News
- January 2023: nVent Electric plc, a global electrical connection and protection player, introduced its latest nVent HOFFMAN Extreme Environments line of stainless-steel enclosures and air conditioners. The product line is certified to the industry's highest standards and offers a durable, reliable solution for protecting critical equipment and system components in the most demanding environments.
- October 2022: Hexagon and NovAtel announced the first-generation CPT7 GNSS+INS enclosure was replaced by the upgraded second-generation CPT7 (80023574). OEM-IMU-HG4930-AN01, CPT7 I/O1 Cable 01020208, and CPT7 I/O2 Cable 01020209 were replaced by OEM-IMU-HG4930-AN04, 01020697, and 01020690, respectively.
India Electrical Enclosures Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Government Initiatives and Policies on Infrastructure Development are Creating Demand for Commercial and Industrial Electrical Enclosure Products
5.1.2 Cheaper alternatives such as plastic and fiber-reinforced products are creating higher demand for lighter and durable non-metallic enclosures
5.2 Market Challenges
5.2.1 Current geopolitical scenario in Europe and the Ongoing chip shortages, are expected to impact the market growth in the short term.
5.2.2 Fluctuating raw material prices, both in terms of metal and plastic, are affecting the profit margins of product vendors
6. MARKET SEGMENTATION
6.1 By Material Type
6.1.1 Metallic Enclosures
6.1.2 Non-metallic Enclosure
6.2 By Application
6.2.1 Power Generation and Distribution
6.2.2 Transportation
6.2.3 Oil and Gas
6.2.4 Commercial Spaces and Buildings
6.2.5 Process Industries
6.2.6 Other Applications
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 BCH Electric Ltd.
7.1.2 Schneider Electric
7.1.3 ABB Ltd.
7.1.4 Eaton Corporation
7.1.5 Emerson Electric
7.1.6 Hubbell Inc
7.1.7 Legrand SA
7.1.8 Siemens AG
7.1.9 Rittal GmbH & Co. KG
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
India Electrical Enclosures Industry Segmentation
An electrical enclosure is a cabinet for electronic equipment to mount switches, knobs, and displays to control electrical shock to equipment users and protect the contents from the environment.
India's Electrical Enclosures Market is segmented by material type (metallic enclosures and non-metallic enclosures) and application (power generation and distribution, transportation, oil and gas, commercial spaces and buildings, and process industries). The impact of COVID-19 on the market and impacted segments is also covered under the scope of the study. Further, the disruption of the factors affecting the market's expansion in the near future has been covered in the study regarding drivers and restraints. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Material Type | |
| Metallic Enclosures | |
| Non-metallic Enclosure |
| By Application | |
| Power Generation and Distribution | |
| Transportation | |
| Oil and Gas | |
| Commercial Spaces and Buildings | |
| Process Industries | |
| Other Applications |
India Electrical Enclosures Market Research Faqs
What is the current India Electrical Enclosures Market size?
The India Electrical Enclosures Market is projected to register a CAGR of 7.10% during the forecast period (2024-2029)
Who are the key players in India Electrical Enclosures Market?
BCH Electric Ltd, Schneider Electric, ABB Ltd, Eaton Corporation and Emerson Electric are the major companies operating in the India Electrical Enclosures Market.
What years does this India Electrical Enclosures Market cover?
The report covers the India Electrical Enclosures Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Electrical Enclosures Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Electrical Enclosures Industry Report
Statistics for the 2024 India Electrical Enclosures market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Electrical Enclosures analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
