LV and MV Switchgear capturing market

The covid-19 pandemic has already caused troubles India and will probably very soon where it will transfer from cluster to community. A developing country like India may suffer an economic crisis where most of the GDP comes from these MSME sectors. Easy installation coupled with efficient mechanical stability will boost the plug-in LV Switchgear market share. Ongoing incorporation of transportable multifunctional modules across digital substations, railway application and offshore wind farms will further complement the product penetration, where in LV and MV switchgear market is to exceed $ 80 billion by 2023, how will the industry cope-up with the current situation, is discussed by industry leaders in the following.

Low Voltage (LV) Switchgear to exceed $ 80 billion
The forecast pave way for a lot of opportunities and these scopes are being thrown upon and it looks bright provided Government spending goes up as anticipated, Gautam Seth, joint MD at HPL Electric and Power Ltd said, “HPL follows a meticulous risk assessment procedure before commencement of work. In addition to this, security personnel are assigned to follow required safety measures and procedures to eliminate any hazards.” Besides, trapped key interlocking system is used in MCCBs that ensure safety levels in Switchgears. By agreeing to the point Piyush Garg, Director, Balaji Switchgears says, “Indeed, as the economy is witnessing massive development across all the sectors, be it Industries, Infrastructure, Transportation, etc, we are going to experience an incredible investment in LV Switchgears installation. Also, as most of the old electrical installations are going for overhauling and modernisation of their establishments, MRO requirements are witnessing a rising curve. We have observed a surge in demand for safe, resilient and reliable power now, which makes investment in the electrical segment at top priority even with the end user thus increasing overall demand.” LV components, these days, are communication capable and have functions available which can help industries checked the real time data to analyse and operate in a scenario. All the Switchgears providers have their own communication platform, through which they provide IOT enabled solutions right from the transformer to final distribution level. On the bigger picture, power generation utilities can monitor their exact production and consumables, along with the end user who can monitor the energy consumption at his home/office level.

Low voltage and medium voltage Switchgear cover the market
Government’s relaxation on MSME categorisation and Start-up set up has given opportunity to multiple players to work in the Switchgear industry. The MSME sectors have clearly stated that they need Government support to keep these MSME units open. Most of these MSME sectors have accepted the Government’s decision to allow selected manufacturing units to reopen on April 20. Although some have said that lack of financial support from the Government will not help as they will not be able to keep running even after reopening.

Therefore, to ease out the liquidity crisis Government and RBI have announced a relief package. He also stated that the unpaid dues of MSME both at the Central and state levels will be released at the earliest which will inject upto `40,000 crores to `50,000 crores into the market. LV and MV Industries are comparatively easier to enter into as compared to HV Industry. It is so because LV & MV Industry have manufacturers of our daily need products. It does not involve huge investments, risks and man-hours as compared to HV industry. Garg added saying, “Moreover, HV industry are dominated by big PSU’S and Corporate Giants. It involves huge finances, investors, infrastructure, etc to run this business. It is a monopolistic market with complex job. HV Industry demands specialisation and requires bigger team involvement.” Given the increasing opportunities, LV and MV industries are surely turning even more competitive than earlier but at the same time giving business opportunities to all.

Government’s relaxation on MSME categorisation and Start-up set up has given opportunity to multiple players to work in the switchgear industry.
Piyush Garg, Director,
Balaji Switchgears

HPL follows a meticulous risk assessment procedure before commencement of work.
Gautam Seth, Joint MD,
HPL Electric & Power Ltd