Project report for Electrical shop
Project Report for electrical shop is as follows:
India electrical switches market is projected to grow at a CAGR of more than 12% by 2023, on the back of increasing number of projects in construction and real estate markets, especially in the residential segment across the country. Owing to the aesthetics of modular switches, strong demand is being witnessed from the residential sector, as more and more people are replacing their old switches with modular switches that complement their wall paints and interior designing. Moreover, supportive government initiatives, rising per capita income and declining prices of modular switches are some of the other factors that are expected to positively influence the electrical switches market in India during forecast period .LED lights are the latest technology in energy efficient lighting. LED stands for ‘Light Emitting Diode’, a semiconductor device that converts electricity into light. India LED lighting market stood at $ 918.70 million in 2016, and is projected to grow at a CAGR of 24.66%, in value terms, during 2016-2022, to reach $ 3,758.74 million by 2022, on account of increasing government initiatives to boost LED adoption and growing awareness regarding lower power consumption of LED lighting products. Modular switches expected to garner $1,595.0 million by 2022, registering a CAGR of 22% during the forecast period 2016-2022. All these parameters indicates the smooth and good sales of the product and thus the potential of electrical shop in the region.
Product / Services & process
In the recent past, LED lighting used to be fairly limited with few designs to choose from. With greater advances in the technology, you can now get a range of styles including candles, GLS, golf balls, reflectors, spotlights and tubes. These have varying powers equivalent to everyday incandescent bulbs and can now be found with a variety of fittings including screw and bayonet. The cost too is now comparable with other bulbs and can provide significant savings in electricity bills
Tubelights, MCB,ELCB etc
Market potential & Strategy
As the lighting and switches are frequently used in the homes, the demand is on the higher side. The shopmore focuses on providing electrical equipmentssuch as eleictric wires, MCBs , tubeights etc. When a new construction is happening, the demand for the products were on the higher side. Also small devices such as small motors, pumpset were also there which having good demand. The shop is mainly planning to make popularity by providing small offers, advertisements in the local television, news paper inserts and as notice papers.