HPL plans to introduce smart and prepaid meters, solar specialty cables and distribution boxes, energy efficient lighting products, switchgears range and our brand new MCB range ‘Osafe’.
Gautam Seth, Joint Managing Director, HPL Electric & Power Ltd
At ELECRAMA 2018, HPL will present its product categories in four verticals: Smart and prepaid meters, specialty cables, new generation lighting products and solar products
Gautam Seth, Joint Managing Director, HPL Electric & Power Ltd informs, “HPL plans to introduce smart and prepaid meters, solar specialty cables and distribution boxes, energy efficient lighting products, switchgears range and our brand new MCB range ‘Osafe’.”
HPL Electric and Power Ltd an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, including, metering solutions, switchgears, LED lighting and wire & cables, catering to consumer and institutional customers in the electrical equipment industry. HPL manufacturing capabilities are supported by a large sales and distribution network with a pan-India presence. The company currently manufacture and sell its products under the umbrella brand ‘HPL’, which has been registered in India since 1975.
The company has one of the widest portfolios of meters in India. It has a whole range of metering solutions with advance communication interfaces like LPRF (low power radio frequency), GSM/GPRS, IrDA, Modbus, Ethernet. In addition, HPL supply their products to power utilities, which primarily includes supply of meters under direct contractual arrangements to electricity boards and power distribution companies, as well as through project contractors.
Smart meters market
The market for meters in India was estimated to be at Rs 3,000 crore in fiscal 2015, with organised participants contributing to over 80 per cent of the total market. There has been a continued and visible shift from demand for traditional meters to demand for metering solutions, which helps in energy management as compared to mere monitoring and billing functionalities. During 2016-2020, the overall market for electricity meters is expected to grow at a CAGR of 11.5 per cent, with prepayment meters expected to grow more than the overall growth rate, at a CAGR of 15.1 per cent, and smart meters expected to grow at a CAGR of 5.3 per cent. However, the market for meters is expected to witness explosive growth subsequent to 2022, when the proposed civil works for smart cities and smart grids will near completion, paving way for a robust demand for smart meters. Particularly smart meters are expected to see a double digit growth once bottle-necks surrounding the smart grid projects are cleared.
The market for electricity meters is growing in India and initiatives of the Government such the Deen Dayal Upadhaya Gram Jyoti Yojna and Integrated Power Development Scheme are expected to give impetus to the meter market.
Opportunities for HPL
Gautam says, “Government run projects are extremely good platforms for companies like ours and are on growth trajectory and we assume is an opportunity to grow with. Also, with short term disruptions like demonetisation and GST set to reduce, we believe to enhance our opportunities to establish our reach in the market.”
He adds, “We see a high potential in electrical metering category in coming years, where we have a range of smart and prepaid meters. Government run projects are extremely good platforms for companies like ours and are on growth trajectory and we assume is an opportunity to grow with.”
For more details, visit www.hplindia.com