India Electrical Materials Market, Forecast and Opportunities, 2026

Published: September 2020

FY2015 – FY2026 INDIA ELECTRICAL MATERIALS MARKET

© TechSci Research

FORECAST AND OPPORTUNITIES

www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

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Table of Contents S. No.

Contents

1.

Product Overview

2.

Research Methodology

3.

Impact of COVID-19 on India Electrical Materials Market

4.

Executive Summary

5.

Voice of Customer Brand Awareness

5.2.

Factors Considered For Purchase Decision

5.3.

Current Need Gaps

5.4.

Brand Satisfaction Level

India Electrical Materials Market Outlook 6.1.

Trade Overview

6.2.

Market Size & Forecast 6.2.1.

6.3.

6.3.

By Value & Volume

Market Share & Forecast 6.3.1.

By Type (Circuit Breakers, Light Switches, Plugs & Sockets, Voltage Switcher, Cable Management, Cable Duct, Electrical Conduit, Others)

6.3.2.

By End User (Industrial, Commercial, Residential)

6.3.3.

By Region (North, East, West, South)

6.3.4.

Top 10 States

6.3.5.

By Company (FY2020)

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6.

5.1.

Product Market Map

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Table of Contents

Ta b l e o f C o n t e n t s

S. No.

North India Electrical Materials Market Outlook 7.1.

Market Size & Forecast 7.1.1.

7.2.

7.3.

8.

Market Share & Forecast 7.2.1.

By Type

7.2.2.

By End User

Pricing Analysis

West India Electrical Materials Market Outlook 8.1.

Market Size & Forecast 8.1.1.

8.2.

8.3.

9.

By Value & Volume

By Value & Volume

Market Share & Forecast

8.2.1.

By Type

8.2.2.

By End User

Pricing Analysis

South India Electrical Materials Market Outlook 9.1.

Market Size & Forecast 9.1.1.

9.2.

By Value & Volume

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7.

Contents

Market Share & Forecast 9.2.1.

By Type

9.2.2.

By End User

3

Ta b l e o f C o n t e n t s

Table of Contents S. No.

Contents 10.3. Pricing Analysis

10.

East India Electrical Materials Market Outlook 10.1. Market Size & Forecast 10.1.1.

By Value & Volume

10.2. Market Share & Forecast 10.2.1. By Type 10.2.2. By End User 10.3. Pricing Analysis 11.

Market Dynamics 11.1. Drivers 11.2. Challenges

12.

Market Trends and Developments

13.

Policy and Regulatory Landscape

14.

India Economic Profile

15.

Competitive Landscape 15.1. Anchor Electricals Private Limited Š TechSci Research

15.2. Legrand India Pvt. Ltd. 15.3. Havells India Ltd. 15.4. GM Modular Pvt. Ltd. 15.5. Honeywell Electrical Devices and Systems India Ltd.

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Table of Contents

Ta b l e o f C o n t e n t s Contents

15.6.

Schneider Electric India Pvt. Ltd.

15.7.

Philips Lighting India Limited

15.8.

Wipro Enterprises Private Ltd.

15.9.

ABB India Limited

15.10.

GoldMedal Electricals Pvt. Ltd.

15.11.

Polycab India Limited

16.

Strategic Recommendations

17.

Market Segment Definitions

18.

About Us & Disclaimer

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S. No.

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Product Overview

Scope of Report Product of Interest (POI): Electrical Materials Electrical materials are used in electrical installations. These materials are the parts or elements used in the making of any electrical construction project. This can vary from a small house circuit to as big as a large industrial plant.

There are certain electrical materials like circuit breakers and fuses which can be used to protect the electrical appliances and devices. Electrical material such as insulators can prevent users from getting electric shocks while operating electrical appliances or instruments. Electrical materials such as current-carrying wires or conductors are used to transfer the current from source to the load.

Market Segmentation INDIA ELECTRICAL MATERIALS MARKET

BY ZONE North

•

Cable Management

•

•

Circuit Breakers

•

East

•

Plugs & Sockets

•

West

•

Electrical Conduit

•

South

•

Light Switches

•

Voltage Switcher

•

Cable Duct

•

Others

Year Range Review Period

2015 – 2019 Base Year

END USER INDUSTRY •

Residential

•

Commercial

•

Industrial

2020 Estimated Year

2021 Forecast Period

© TechSci Research

BY TYPE

2022 – 2026

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Research Methodology

Research Methodology

In-depth secondary research was conducted to determine top players in India electrical materials market, overall market size and segmental market share.

Formulating Questionnaire

In order to conduct industry experts’ interviews, TechSci formulated a detailed questionnaire.

Data Collection

Developing List of Respondents

TechSci Research List of industry players, conducted interviews distributors, and with industry experts industry specialists and industry players for was developed. data collection and verification.

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

Primary Research ✓ ✓ ✓

Questionnaire Design In-depth Interviews

Primary Research

Data Collection

Data Filter Research & & Analysis Intelligence

Actionable Insights

Business Solution

✓

TechSci Internal Database LinkedIn

The data was scrutinized using MS-Excel and statistical tools such as Time Series Analysis, etc. to obtain qualitative and quantitative insights about India electrical materials market.

Desk Research

Identifying Key Opinion Leaders

✓

Data Analysis

Data Validation

Company Analysis

✓

Recent Developments

✓

Market Participants

✓

Market Changing Aspects/Dynamics

✓ ✓

Key Strengths Product Differentiation

✓

Government Policies

✓

Final Conclusion

Secondary Research ✓ ✓ ✓ ✓ ✓ ✓ ✓

Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc.

Paid Sources

✓ ✓

Factiva Hoovers

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Market Profiling

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Research Methodology

Baseline Methodology: For the study, TechSci Research has gathered information through primary research surveys with leading electrical material manufacturers, providers and importers. We have also put through an exhaustive search of credible paid databases such as Business Week, Factiva, etc., including our internal database. Our team of analysts has then prudently evaluated all the collected information and presented the same in chronological order to depict a meaningful and clear picture of India electrical materials market. While compiling the data, we have also cross-checked all the collected information from multiple sources and data warehouses, to present the most accurate and precise information of the concerned industry.

Sampling Technique: While conducting the study, TechSci Research followed the stratified random sampling technique to shortlist the Key Opinion Leaders (KOLs) in various electrical material companies/dealers & distributors operating in India. KOLs based out of prominent electrical material companies/dealers & distributors were interviewed to assess India electrical materials market.

Sample Size:

No. of Respondents

Mid to Senior Management, Sales Managers of electrical material companies / Dealers & Distributors

70

Industry Experts

30

Total

Š TechSci Research

Type of Respondents

100

10 10

Research Methodology Market Size Calculation Technique:

Primary Research For the preparation of India electrical materials market report, bottom-up model has been used, which has been later cross validated by using top-down approach. TechSci Research interviewed senior managers and regional sales managers of the prominent electrical material companies/dealers & distributors using Delphi technique for calculating India electrical materials market size. Respondents were also asked about the current and future growth rates, market share by type, by end-user,

etc. All the information gathered was carefully analyzed and data points which exhibited high deviations from the majority estimates were eliminated as outliers and the remaining refined data points were put together to arrive at the data.

S. No.

Names of Companies and/or their Dealers Interviewed

1.

ABB India Limited

2.

Havells India Limited

3.

Anchor Electricals Pvt Ltd

4.

Schneider Electric India Pvt ltd.

5.

Honeywell Electrical Devices and Systems India Ltd.

Š TechSci Research

Primary Research – Few of the Manufacturing Companies and/or their Dealers Interviewed

*Note: The data given for any year represents the market during the period i.e. 1st April of the previous year to 31st March of that year. eg: For 2021E, the data represents the period between 1st April 2020 and 31st March 2021.

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Research Methodology Secondary Research: We have put through an exhaustive search of credible databases in addition to our internal database. Further analysis of credible publications, white papers, company annual reports, investor presentations, news articles, etc., was also done to cross validate the end findings derived from primary research.

S. No.

Few of the Secondary Sources/Associations

1.

Indian Electrical and Electronics Manufacturers' Association

2.

Electrical Research and Development Association

3.

Industry Magazines

4.

Company Annual Reports

5.

Company Websites

6.

World Bank

7.

Industry Reports

Forecasting Technique: The team has developed the forecast on the basis of econometric and judgemental analysis in addition to statistical techniques such as averaging and geometric mean. During primary research interview, questions regarding historical sales trend of electrical materials in India were put forward. Respondents were asked about the current and future growth rates,

© TechSci Research

and market share of electrical materials in India. In order to forecast India electrical materials market, following forecast techniques were used: • • •

Time Series Analysis Econometric and Judgmental Analysis Moving Average 12 12

Industry Brief

According to TechSci Research report, “India Electrical Materials Market By Type (Circuit Breakers, Light Switches, Plugs & Sockets, Voltage Switcher, Cable Management, Cable Duct, Electrical Conduit, Others), By End User (Industrial, Commercial, Residential), By Region, Competition, Forecast & Opportunities, FY2026”, India 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. Major factor driving the market are increasing construction activities and surging use of electrical materials in industries including cement industry, mining, powerplant, among others.

Growing real estate sector is strengthening demand for electrical materials in India. The growth of this sector is well complemented by increasing corporate environment and demand for office space as well as urban and semi-urban accommodations. However, economy slowdown in 2019-2020 and lack of skilled manpower can hinder the growth of the India electrical materials market.

Industrial sector is the largest demand generating sector for electrical materials. Industrial sector accounted for a share of over 62.61% in India electrical materials market in 2020. The Indian government and the various state governments seem to making rapid progress in industrial sector. Over the next 5-10 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.

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. etc. are some of the leading players operating in India electrical materials market.

© TechSci Research

“Northern region is the dominant region in India electrical materials market accounting for a share of 30.65% in 2020. Northern region is undergoing massive construction developments, with hundreds of residential & commercial buildings being constructed. The Indian government in its effort to revive the residential market especially in the excess supply region of North India has provided several incentives for boosting the affordable housing segment. These incentives have led to significant growth in FY2019-20 in the affordable housing segment. As a result, demand for electrical materials has grown in the region and will continue to grow over the forecast period once the adverse impact on demand due to COVID-19 subsides.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based India management consulting firm.

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Sample Data - Snapshot India Electrical Materials Market Size, By Value, 2015-2026F (USD Million) CAGR (2015-2020)

By Value: xx%

2015

2016

2017

CAGR (2021E-2026F)

By Value: xx%

2018

2019

2020

2021E

2022F

2023F

2024F

2025F

2026F

North India Electrical Materials Market Share, By Type, By Value, 2015-2026F

2015

2016

2017

2018

2019

2020

2021E

2022F

2023F

2024F

2025F

2026F

Cable Management 10.00% Circuit Breaker 10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

Plugs & Sockets

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

Electrical Conduit

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

Light Switches

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

Voltage Switcher

15.00%

15.00%

15.00%

15.00%

15.00%

15.00%

15.00%

15.00%

15.00%

15.00%

15.00%

15.00%

Cable Duct

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

10.00%

Others

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

2015

2016

2017

2018

2019

2020

2021E

2022F

2023F

2024F

2025F

2026F

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

Commercial 30.00% Residential 20.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

30.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

20.00%

Industrial

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North India Electrical Materials Market Share, By End User, By Value, 2015-2026F

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About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting

models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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By Organization Size (SMEs v/s Large Enterprises), By End Users (Enterprises, Telecommunications Industry, Government Organizations, Cloud Service Providers, Others), By Region, Forecast & Opportunities, 2026 TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com

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Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand.

However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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