Indian Electrical Equipment industry has grown massively over the years. The growth of the industry is mainly dependent on the level of economic activities being undertaken in the country. The rapid increase in the industry revenue can be attributed to rapid growth in infrastructure and construction sector, which have majorly aided growth of the electrical equipment sector.
India’s wires and cables market has transformed itself, from a small industry majorly dominated by unorganized players to a large and dynamic sector where organized players capture 50-55% of market. The industry is mostly volume driven, although it comes with a lot of technical and quality disturbances.
The industry is inclining at a greater pace as a result of growth in the power and infrastructure segments. It is expected to grow at similar rate for the next five years owing to the government’s emphasis on the power sector reforms and infrastructure.
The wires and cables market in India is highly fragmented, with the presence a number of small and medium enterprises. The organized sector manufactures high voltage durable and specialty cables, whereas the unorganized sector mainly captures the low voltage market, where products are mainly differentiated on the basis of price.
The wires and cables market is presently at its growing stage in the country and is expected to capture a significant share in the electrical equipment industry in the coming years. The new technologies and extensive research and development by market players are making it possible to collect more information in order to fully understand the demand of the market. The overall wires and cables market in India is expected to grow at a CAGR of 18.5% during FY’2014-FY’2019.
Development in terms of optical fiber cables, fire-resistant wires and cables is expected to continue to develop, assisting the transition toward underground wires and cables. Products with superior technologies such as broader range application equipment and electricity saving will continue to find a deeper penetration in the Indian wires and cables market.
Growth in wires and cables market can also be attributed to the introduction of latest technologies by manufacturers in India and swift expansion of automated and innovative cost reducing manufacturing technologies, which have significantly improved the throughput of wires and cables products.
The wires and cables market of India has been characterized by a steady growth in demand with slight fluctuations, affected by economic turbulences. The industry is highly competitive with major proportion of the market being captured by few organized players. A high level of consolidation has led to increased pressures on pricing and promotion.
With the consumers becoming more perceptive towards value addition, providing products by anticipating the consumer needs in advance and broadening the appeal of the product to suit a variety of needs could prove vital for the growth of the this industry in the coming years.
KEY FACTORS CONSIDERED IN THE REPORT
- Comprehensive analysis of the wires and cables and its segments
- Industry is presented by types of cables; by end users and by distribution.
- Listed major players and their positioning in the market
- Identified major industry developments in last few years and assess the future growth of the industry
- Regulatory framework help to understand investment opportunities and complexity involved