Wired for Growth: 2025 Forecast for Electrical Equipment Companies in India Part 1

Sector Overview India's electrical equipment industry is expected to grow at a CAGR of 12–14% in FY25, driven by demand in power generation, transmission, and distribution equipment. Source: ICRA The government’s strong push toward "Make in India" and import substitution is boosting domestic manufacturing capacity and benefiting listed players. Source: CRISIL Power Infrastructure & Electrification Massive investment in transmission and distribution (T&D) infrastructure under schemes like Revamped Distribution Sector Scheme (RDSS) is expected to generate large orders for transformers, switchgear, and smart meters. Source: Ministry of Power Growing rural electrification and urban infrastructure projects will drive volume growth for electrical cable, conductors, and control panel manufacturers. Source: CARE Ratings