C&M: Indian industry for electrical equipment to be driven by growth in the Power industry in India
Electrical Equipment Market in India 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-18 08:13:01
The Electrical Equipment market in India is to grow at a CAGR of 13.38 percent over the period 2013-2018. One of the key factors contributing to this market growth is the growth in the Power industry in India. The Electrical Equipment market in India has also been witnessing upgradation of technology used in electrical equipment. However, the lack of adequate testing facilities of electric equipment could pose a challenge to the growth of this market.
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.
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