Market Size of India Electrical Enclosures Industry
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 |
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 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 Size Summary
The India electrical enclosures market is poised for significant growth, driven by increasing investments in power generation and distribution infrastructure. As one of the largest producers and consumers of electricity globally, India's established power capacity is a testament to its expanding energy sector. Electrical enclosures, which serve as protective housings for electrical equipment, are integral to ensuring safety and reliability in electricity distribution, energy production, and construction activities. The market is further bolstered by advancements in technology, such as Genetec Inc.'s innovative enclosure management solutions, which enhance the security and monitoring of electrical enclosures. The shift towards renewable energy sources, supported by government initiatives and substantial investments in green energy infrastructure, is also a key factor propelling market growth. The increasing adoption of industrial automation and stringent safety regulations across states contribute to the rising demand for electrical enclosures, positioning India as a burgeoning hub for electrical infrastructure.
The market landscape is characterized by a competitive environment with several leading players focusing on product differentiation and quality to maintain their market share. Government initiatives, such as the Deendayal Upadhyaya Gram Jyoti Yojana, aim to enhance power distribution and electrification, creating opportunities for electrical enclosure sales. The rapid urbanization and growing electricity demand, coupled with investments in solar and wind energy projects, further drive market expansion. The introduction of new products and technologies, such as Tri-Mack's lightweight enclosures and Rittal's hygienic design accessories, reflects the industry's commitment to innovation. As India continues to invest in clean energy and upgrade its power infrastructure, the electrical enclosures market is expected to experience robust growth, supported by both domestic and international investments in renewable energy and industrial automation.
India Electrical Enclosures Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Material Type
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2.1.1 Metallic Enclosures
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2.1.2 Non-metallic Enclosure
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2.2 By Application
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2.2.1 Power Generation and Distribution
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2.2.2 Transportation
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2.2.3 Oil and Gas
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2.2.4 Commercial Spaces and Buildings
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2.2.5 Process Industries
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2.2.6 Other Applications
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India Electrical Enclosures Market Size 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.