TechNavio recognizes the following companies as the key players in the Electrical Equipment Market in India: ABB Ltd, Bharat Heavy Electrical Ltd., Crompton Greaves Ltd., Larsen & Toubro Ltd., and Siemens AG.
Commenting on the report, an analyst from TechNavio’s team said: “The electrical equipment manufacturers in India are upgrading the existing technologies to give a competitive edge to electrical equipment manufactured in India and help them compete in the Global Electrical Equipment market. Equipment manufacturers are introducing innovative technologies to transmission equipment and, also, coming up with new transformers and generators, which promise better services. Thus, the implementation of new technology is expected to increase the growth of the Electrical Equipment market in India by enabling local players to compete in the Global Electrical Equipment market. ”
According to the report, one of the major drivers for the market is the growing Power industry in India. The demand for power has led to an increased demand for transformers and switchgears, which in turn has increased the growth of the Electrical Equipment market in India.
Further, the report states that a key challenge faced by the market is the lack of adequate testing facilities for electrical equipment. Vendors need to send their equipment to foreign countries for testing, which is expensive and thus has an effect on the price of the equipment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/electrical-equipment-market-india-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report -Electrical Equipment Market in India 2014-2018
