Last Updated: February 23, 2017
Last Updated: February, 2017
By 2022, the installed power capacity in India is expected to reach 350 gigawatts (GW) from 243 GW in 2014, on the back of increasing industrialisation and economic development. The total market size of electrical machinery in India is anticipated to reach US$ 100 billion by 2022 from US$ 24 billion in 2013.
The electrical machinery sector consists of generation, transmission and distribution machinery. The transmission and distribution market expanded at a compound annual growth rate (CAGR) of 6.7 per cent over FY07-13. Boilers (16 per cent), cables (15 per cent) and transmission lines and conductors (12 per cent) account for a large chunk of the revenue. The generation equipment market is expected to expand at a CAGR of 12.7 per cent over FY12–22.
The exports of electrical machinery rose to US$ 3.9 billion in FY14 from US$ 3.4 billion in FY12. Boilers & parts and electrical wires and cables were the primary drivers of the increase in exports
The Government of India has been de-licensed the electrical machinery industry and has allowed 100 per cent foreign direct investment (FDI) in the sector. It plans to set up the Electrical Equipment Skill Development Council (EESDC) which would focus on identifying critical manufacturing skills required for the electrical machinery industry.
With many bilateral nuclear agreements in place, India is expected to become a major hub for manufacturing nuclear reactors and associated components. Foreign participation in the development and financing of generation and transmission assets, engineering services, equipment supply and technology collaboration in nuclear and clean coal technologies is also expected to increase.
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Last Updated: February 23, 2017
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