Dublin, Jan. 14, 2021 (GLOBE NEWSWIRE) -- The "India Electrical Materials Market, By Type (Circuit Breakers, Light Switches, Plugs & Sockets, Voltage Switcher, Cable Management, Electrical Conduit, Others), By End User (Industrial, Commercial, Residential), By Region, Competition, Forecast & Opportunities, FY2026" report has been added to ResearchAndMarkets.com's offering.
The Indian Electrical Materials Market was valued at USD 5969.13 Million in FY2020 and is projected to grow at double digit CAGR of 17.88% during the forecast years, to reach USD 9714.33 Million through FY2026.
Increasing construction activities is the major factor driving the electrical materials market in India. The construction sector is one of the largest contributors to economic activity and is expected to grow at 7-8% per annum over the next 10 years in India.
Short-term expansion of India's construction activities will be driven by a mixture of fiscal support and government policies supporting the housing market in the country. Long-term growth will mainly be driven by country's massive population, which requires continued investments into residential building construction sector, which in turn is creating a market opportunity for electrical materials manufacturers in India.
Apart from increasing use in construction sector, electrical materials are witnessing increasing used in various industries such as power plants, refinery cement industry, steel, mining, among others. The Indian government and various state governments seem to be making rapid progress in boosting the country's industrial sector. Over the next 10-15 years, industrialization in India is likely to continue its growth momentum, which is expected to create significant opportunities for electrical materials in the industrial sector.
The Indian Electrical Materials Market is segmented on the basis of type, End-user and region. In terms of type, market can be segregated into circuit breakers, light switches, plugs & sockets, voltage switcher, cable management, cable duct, electrical conduit, and others. Among these, the cable management is major demand generating segment with share of 25.25% in FY2020. Cable management includes cable trays, cable ladder, and cable baskets and is needed for the management of all electrical cables during installation, contributing for the leading share of the segment.
Some of the major companies operating in the electrical materials market of India are Anchor Electricals Pvt. Ltd., Legrand India Pvt. Ltd., Havells India Ltd., GM Modular Pvt. Ltd., Honeywell Electrical Devices and Systems India Ltd., Schneider Electric India Pvt. Ltd., Philips Lighting India Limited, Wipro Enterprises Private Ltd., ABB India Limited, GoldMedal Electricals Pvt. Ltd., and Polycab India Limited.
Years considered for this report:
- Historical Years: FY2015-FY2019
- Base Year: FY2020
- Estimated Year: FY2021
- Forecast Period: FY2022-FY2026
Objective of the Study:
- To analyze and estimate the market size of the Indian Electrical Materials Market from FY2015 to FY2019.
- To estimate and forecast the market size of the Indian Electrical Materials Market from FY2020 to FY2026 and growth rate until FY2026.
- To classify and forecast the Indian Electrical Materials Market based on type, End-user, region and company.
- To identify dominant region or segment in the Indian Electrical Materials Market.
- To identify drivers and challenges for the Indian Electrical Materials Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Electrical Materials Market.
- To conduct pricing analysis for the Indian Electrical Materials Market.
- To identify and analyze the profile of leading players operating in the Indian Electrical Materials Market.
- To identify key sustainable strategies adopted by market players in the Indian Electrical Materials Market.
Key Target Audience:
- Manufacturers and End-users
Report Scope
In this report, the Indian Electrical Materials Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
India Electrical Materials Market, By Type:
- Circuit Breakers
- Light Switches
- Plugs & Sockets
- Voltage Switcher
- Cable Management
- Cable Duct
- Electrical Conduit
- Others
India Electrical Materials Market, By End-user:
- Industrial
- Commercial
- Residential
India Electrical Materials Market, By Region:
- South
- North
- West
- East
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Indian Electrical Materials Market.
Companies Mentioned
- Anchor Electricals Pvt. Ltd.
- Legrand India Pvt. Ltd.
- Havells India Ltd.
- GM Modular Pvt. Ltd.
- Honeywell Electrical Devices and Systems India Ltd.
- Schneider Electric India Pvt. Ltd.
- Philips Lighting India Limited
- Wipro Enterprises Private Ltd.
- ABB India Limited
- GoldMedal Electricals Pvt. Ltd.
- Polycab India Limited
For more information about this report visit https://www.researchandmarkets.com/r/6g59wk
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