India Electromechanical Components Market is predicted to reach USD 720 million at a CAGR of 19.8% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global India Electromechanical Components Market”.

Electromechanical components are nothing but components or devices which convert mechanical action to electrical action or electrical action to mechanical action is called electromechanical components. Example for electrical to mechanical operation: any electrical circuit breaker closing with TNC switch, Normal switch etc. Example for mechanical action to electrical action: Limit switches in breaker spring charge mechanism which gives the stop feedback to the breaker when the breaker’s spring fully charged.

The Electromechanical Components market is estimated to register a CAGR of 19.8% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Electromechanical Components market - L&DT Electrical & Automation, Schneider Electric, Havells India Ltd, Legrand India, TE Connectivity, Phoenix Contact, ABB India Ltd, Siemens, Eaton, Molex LLC, C&S Electric Limited, and Panasonic Life Solutions India Pvt Ltd, and Others.

Market Highlights

The global Electromechanical Components market is accounted to register a CAGR of 19.8% during the forecast period and is estimated to reach USD 720 million by 2032.

India is projected to emerge as a future manufacturing center for the area, if the government demonstrates appropriate support and focus on this industry. A decrease in borrowing costs, export incentives, a drop in customs charges on raw materials and components, and an improvement in the ease of doing business are among the specific reasons projected to boost manufacturing in India.

Furthermore, the government of India is taking various initiatives such as SAMARTH (Smart Advanced Manufacturing and Rapid Transformation Hubs), Udyog Bharat 4.0, and the establishment of the Centre for the Fourth Industrial Revolution to achieve Aatmanirbharta's goals and ambitions of becoming a key player in global value chains. Additionally, the "Make in India 2.0" initiative is concentrating on 27 areas, including 12 service sectors and 15 manufacturing sectors. 24 of these sub-sectors were selected while taking into consideration the competitive edge and strengths of Indian businesses, the necessity of import substitution, the potential for export, and higher employability.

Manufacturing is emerging as an essential aspect of the country's economic growth, owing to the performance of important industries such as automotive, engineering, chemicals, pharmaceuticals, and consumer durables. One of the industries expected to expand the fastest is Indian manufacturing, which contributed 16–17% of India's GDP before the pandemic. Additionally, the government of India has launched a significant national strategy called "Make in India" that aims to promote investment, encourage innovation, improve skill development, safeguard intellectual property, and create world-class manufacturing infrastructure. This initiative's main goal is to boost India's manufacturing industry and attract investments from around the world.

Segment Analysis

The global Electromechanical Components market has been segmented based on Component, Sales Channel and End user verticle.

Based on component, the India Electromechanical Components Market segmentation includes Fuse and Connectors. The Fuse segment held the majority share in 2022, contributing around ~32.3% to the market revenue. Fuses are an important type of electromechanical component used for circuit protection in a variety of applications. Most fuses used in industrial and automotive applications are of the container type. The base material for fuses is frequently selected based on that material's ability to act as insulation. Fuses are also finding applications in emerging industries and technologies. For example, the rise of Charging System for EV and renewable energy systems has increased the demand for fuses in these sectors. Charging systems for EVs require fuses for battery protection, charging systems, and power electronics. Similarly, renewable energy systems like solar and wind installations rely on fuses for overcurrent protection and fault mitigation. There were two categories Midi fuses and MEGA fuses.

Based on Sales Channel, the India Electromechanical Components Market segmentation includes Oem, Manufacturer Direct Sales, Online Retailers and Aftermarket. The Oem segment held the majority share in 2022 contributing around ~59.3% to the market revenue. Original Equipment Manufacturers (OEMs) and contract manufacturers procure electromechanical components directly from manufacturers to incorporate them into their products or systems. They often have long-term relationships with component suppliers, engaging in bulk purchases and establishing supply chain partnerships. OEMs often rely on external suppliers to provide them with various components and parts for their products, including electro-mechanical components.

Based on the End Use Vertical, the India Electromechanical Components Market segmentation includes Automotive, Telecommunication, Aerospace & Aviation, Industrial Automation & Control System, Energy & Power Generation, Consumer Electronics, Medical Devices, Railway & Transportation, Military & Defense and Others. By End Use Vertical, Industrial Automation & Control System segment hold the majority market share in 2022 contributing 16.1% of the market share. The increasing adoption of smart systems, components, and smart machinery and equipment, for the improvement of processes through automation and self-optimization, has resulted in the development of smart factories for planning, supply chain logistics, and product development. Increasingly, various manufacturing industries are striving to become smart factories.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of India Electromechanical Components Market Research Report

Regional Analysis

By Region, the study provides market insights of India. In terms of revenue, India held the largest share of 37.7% in the Electromechanical Components market in 2022 and is expected to maintain its dominance during the forecast period. The electromechanical components market in India has witnessed remarkable growth and development, positioning itself as a key sector within the country's thriving electronics industry. Electromechanical components, which encompass a diverse array of products such as switches, relays, connectors, motors, fuses, and sensors, play a critical role in the functioning of various electronic devices and systems. These components act as the vital interface between the digital and physical realms, enabling seamless integration and efficient operation.

India's robust economic growth, coupled with the rapid expansion of sectors like automotive, consumer electronics, telecommunications, and industrial automation, has fueled the demand for electromechanical components. The increasing adoption of advanced technologies, automation, and smart devices has further propelled the market's growth. Additionally, government initiatives such as "Make in India", “Atmanirbhar Bharat” and favorable investment policies have attracted both domestic and international manufacturers to establish production facilities within the country, bolstering the electromechanical components market.

Key Findings of the Study

• The global Electromechanical Components market is expected to reach USD 343.91 billion by 2032, at a CAGR of 15.1% during the forecast period.


• The India region accounted for the fastest-growing global market, imperative factors, such as the significant number of investments in India, making it the primary contributor to the market share.


• Based on component, the fuse segment was attributed to holding the largest market in 2022, with an approximate market share of 32.3%.


• L&DT Electrical & Automation, Schneider Electric, Havells India Ltd, Legrand India, TE Connectivity, Phoenix Contact, ABB India Ltd, Siemens, Eaton, Molex LLC, C&S Electric Limited, and Panasonic Life Solutions India Pvt Ltd, and Others are the key market players.