India Electromechanical Components Market Research Report Information By Component (Fuse and Connectors), By Sales Channel (Oem, Manufacturer Direct Sales, Online Retailers, Aftermarket) and By End Use Vertical (Automotive, Telecommunication, Aerospace & Aviation, Industrial Automation & Control System, Energy & Power Generation, Consumer Electronics, Medical Devices, Railway & Transportation, Military & Defense, Others) –India Forecast Till 2032

India Electromechanical Components Market Overview

India Electromechanical Components Market Size was valued at USD 110.2 Million in 2022. The Electromechanical Components market industry is projected to grow from USD 141.7 Million in 2023 to USD 720 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 19.8% during the forecast period (2023 - 2032). The India Electromechanical Components Market is expected to grow significantly over the forecast period due to several factors. The growth of the India Electromechanical Components Market is expected to be driven by key factors such as expanding industrial sector demand for electromechanical component and increasing demand for consumer electronics. However, factors such as customers prioritizing affordability over advanced features or high-quality component and competition from low-cost imports are expected to restrict market growth. On the other hand, expansion of charging system for EV market poses lucrative opportunities for the Global market.

Figure1: India Electromechanical Components Market, 2018 - 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Electromechanical Components Market Opportunity

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  Expanding industrial sector demand for electromechanical component

  
  

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 Aatmanir bharta'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.

Additionally, industrial machinery in a variety of industries, including manufacturing, packing, material handling, and assembly, makes substantial use of electromechanical components. Conveyors, robotic arms, CNC machines, and industrial pumps can all be operated thanks to these parts. Additionally, the development of Charging System for EV has raised the demand for electromechanical parts in the industrial sector. This comprises devices like electric motors, power electronics, and infrastructure for charging batteries. Advanced electromechanical systems are needed for the transition to electric mobility to facilitate the manufacturing of charging system for EVs and the installation of charging networks. Thus, the growing usage of electromechanical components across the industrial sector aids in market growth.

Electromechanical Components Market Segment Insights:

Electromechanical Components Component Insights

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 system 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.

Midi fuses are an efficient, space-saving alternative for high current circuit protection. For cars and trucks, these fuses are typical basic circuit protection devices. The fuse has a bolt-on design that conserves space and seamlessly integrates into your project or application. The midi fuses' tin-plated contacts have high corrosion resistance, keeping the fuse functional and safe. These fuses come in configurations ranging from 30 Amp to 200 Amp.

MEGA fuses, often referred to as high-amp fuses or AMG fuses, are frequently utilized in automotive, business, and industrial applications since they are made for high-current purposes. They are often put directly into a fuse holder or fuse block without the need for additional adapters and are larger in size than MIDI fuses. MEGA fuses have higher current ratings, usually ranging from 40 to 500 amperes, making them suitable for heavy-duty applications that require significant power transmission and protection. These fuses are commonly used in applications such as battery main circuit protection, alternator connections, power distribution, and high-current accessory circuits in vehicles and heavy machinery. These fuses are often recognized by their distinctive color-coding, with different colours representing specific current ratings.

Figure2: India Electromechanical Components Market, by Component, 2022 & 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Electromechanical Components Sales Channel Insights

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.

When the components are in use, the value chain extends to after-sales service and support. This includes activities such as warranty management, troubleshooting, repair services, and spare parts supply. Providing prompt and reliable support enhances customer satisfaction and loyalty.

Aftermarket sales involve the distribution of electromechanical components for repair, replacement, or upgrade purposes. These components are typically purchased by end-users or service providers to replace faulty or worn-out parts in existing equipment or systems. Aftermarket electromechanical components are also available on various e-commerce platforms catering to the automotive, industrial, and electronic sectors. Customers can browse, compare, and purchase components online, often benefiting from a wider product selection and competitive pricing.

Electromechanical Components End Use Vertical Insights

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.

Electromechanical components are essential for robotic systems and automation in industries such as manufacturing, logistics, agriculture, healthcare, and research. Motors, actuators, sensors, and control systems enable robotic movement, manipulation, and feedback mechanisms.

The adoption of automation and robotics in industrial applications continues to grow, driving the demand for connectors. Industrial connectors are used in automated machinery, robotic arms, control systems, and sensors to establish reliable connections, allowing seamless communication and power transmission within the automation ecosystem, which has contributed to the rise in the usage of these components in industrial automation thereby driving the market growth.

Electromechanical Components Key Market Players & Competitive Insights

With a strong presence across different verticals and geographies, the Electromechanical Components market is highly competitive and dominated by established, pure-play vendors. Over 20 vendors cater to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting new technologies to make business more effective. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Electromechanical Components market is highly competitive, with many vendors offering similar products and services.

The major players in the market include 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. L&T Electrical & Automation is focused on offering products, solutions, and services in industrial automation. It aims to offer high-quality, low and medium-voltage products to its clients. It plans to expand its business in new geographies and markets and aims to cater to numerous mega projects in different industry verticals. It plans to strengthen its presence in the Middle East & Africa. It plans to increase its market share by acquiring other players in this business and continues to expand in different geographies.

Schneider Electric is focused on establishing itself as a recognized global business partner. It aims to enhance the supplier's total value proposition through collaboration as part of a world-class supply chain. Its purpose is to empower its clients to make the most of energy and resources. It aims to be a leader in field services, digital and consulting services and plans to deliver innovative high-class products to its clients. It aims to gain a larger market share by collaborating with other players and focusing on product innovation.

The India Electromechanical Components Market is a consolidated market due to increasing competition, acquisitions, mergers, and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the Electromechanical Components market include

• 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


• Panasonic Life Solutions India Pvt Ltd.

Electromechanical Components Industry Developments

• In September 2022, L&T Electrical and Automation (L&T E&A) announced that they are about to follow 2 brands and 2 sales model strategies. This comes one year after the acquisition of the E&A business by Schneider.


• In January 2023, Phoenix Contact launched new connectors. The new CONNEXIS crimp-based wire-to-board connector series for cable assemblies from Phoenix Contact optimizes automated production, ensuring speed and precision in PCB connection.

Electromechanical Components Market Segmentation:

Electromechanical Components Component Outlook

• Fuse


• Midi Fuses


• Mega Fuses


• Connectors


• Pin Header Connector


• Usb C Connector


• Terminal For Connector


• Feeder Connectors

Electromechanical Components Sales Channel Outlook

• Oem


• Manufacturer Direct Sales


• Online Retailers


• Aftermarket

Electromechanical Components End Use Vertical Outlook

• Automotive


• Telecommunication


• Aerospace & Aviation


• Industrial Automation & Control System


• Energy & Power Generation


• Consumer Electronics


• Medical Devices


• Railway & Transportation


• Military & Defense


• Others

Electromechanical Components Regional Outlook

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  India