Electrical Equipment industry has witnessed a growth of 9.7% amidst the industry preparations & business re-alignments for GST.
Major positives are turnaround in growth for Rotating Machines sector especially HT Motors indicating momentum in power generation & core sector capex.
Heavyweight sectors like Transformers, Cable and Transmission Line Towers have registered a double digit growth in production.
Both LV and HV Cables production showing +ve growth both from domestic & exports .
Growth in Power Transformers is attributed to demand for HV & EHV Transformers with support from growth in exports also; whereas in Distribution Transformers, growth is led by domestic demand especially rural electrification program.
Growth in TLT production is mainly due to increased supply to export and deemed export orders.
LV Switchgear continue to witness momentum of good growth registering 8% growth; mainly from MCCBs and ACBs. It indicates some momentum in manufacturing/Capital Goods industries. Low growth in MCBs and decline in RCDs may be due to less off-take by realty & infrastructure sector.
However, major equipment in transmission, distribution and substations like Conductors, MV Circuit breakers, Insulators have witnessed a decline in production in the range of 15-30%. At the same time, there has been increase in Imports for some of these items which is adversely impacting these sectors.
For Meters, there has been decline for single phase meters due to delay in purchases by utilities; however Poly phase meters are in high demand for both domestic & export supplies especially for Pre-paid meters.