Panasonic Electric Works eyes 50 pc share in India's wiring devices market by 2030
Panasonic Electric Works India (PEWIN) — a subsidiary of Panasonic Life Solutions — aims to capture 50 per cent market share of India's wiring devices market by 2030, a top company official said. «Over the next five years, our focus in India will be on significantly expanding our market share,» Toshinobu Kawasaki, Joint Managing Director, Panasonic Electric Works India, told PTI.
«Specifically, by 2030, we aim to capture a 50 per cent market share in the wiring device business,» he said.
«We are also targeting substantial growth in our core business areas, such as switchgear and lighting.
This ambitious plan reflects our commitment to strengthening our position in the market and continuing to deliver quality and innovation in these key segments,» Kawasaki said.
Wiring devices include products such as switches, plugs, lighting control devices, time switches, and provide connection points for outlets, lighting, and appliances to save energy and manage power.
Asked if the company is planning more investment in its Sri City unit in Andhra Pradesh to boost manufacturing capacity, Kentaro Kobayashi, Vice President of Manufacturing, said, «In the medium to long term, expanding our manufacturing capacity in India is a critical objective, and for our Sri City facility, we plan to make additional investments to expand our automated production lines.»
«This investment is a strategic move to enhance our manufacturing efficiency and output, further solidifying our commitment to growth and technological advancement in the Indian market,» Kobayashi said.
To a query on whether the company wishes for more reforms on the Indian tax/regulations front, Yasuhiro Masui, Director Finance, said, «Panasonic recognises the need for more
