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Indian switchgear market to grow at CAGR of 7.42 pc
EPR Magazine (Electrical & Power Review)
|January 2025
According to Research and Markets, the Switchgear market in India is set to experience significant growth. Projections indicate an increase of USD 4.14 billion between 2023 and 2028, advancing at a compound annual growth rate (CAGR) of 7.42 percent during the forecast.
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The switchgear market in India is set to experience substantial growth, with a forecasted increase of USD 4.14 billion from 2023 to 2028, driven by a compound annual growth rate (CAGR) of 7.42 percent. This growth trajectory is fueled by several key factors, including the country’s expanding renewable power generation sector, the rise in residential and commercial building projects, and continuous transmission and distribution (T&D) network development. As India strives to meet its ambitious energy goals and modernise its infrastructure, the demand for advanced electrical equipment, particularly switchgear, is escalating.
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