India Electromechanical Components Market

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.

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.

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.