Socomec is a globally renowned specialist in Low Voltage (LV) Power Switching, Monitoring, and Power Conversion products, dedicated to managing power and safeguarding people, equipment, and installations. The brand provides reliable power solutions in the areas of data centers, healthcare, and renewable energy. In an interaction with NCN, Mr. Meenu Singhal, RMD – Greater India, SOCOMEC, shares their brands vision, mission and future plans.
What are the latest technologies & market trends in the power management solutions space?
As per the recent Precedence Research Report, the global power management system market is expected to grow at a CAGR of 6.91% by 2034, with the Asia Pacific region poised to grow at the fastest rate of 7.73%. India is one of the key markets for Socomec in the Asia Pacific region, driving growth. In the rapidly evolving power management solutions space, Socomec is at the forefront of key industry trends shaping the future of energy management. The integration of digitalization and IoT is enabling Socomec to provide enhanced real-time monitoring and control, offering customers critical insights and improving operational efficiency through seamless connectivity and data analytics. As part of our commitment to energy efficiency and sustainability, Socomec focuses on optimizing energy consumption and reducing waste, helping customers lower their carbon footprint and operational costs.
Socomec prioritizes the voice of the customer in developing and refining solutions. By understanding and addressing customer needs and preferences, we ensure our products meet market demands effectively. Additionally, with increasing system interconnectivity, cybersecurity is a top priority. Socomec ensures the protection of critical infrastructure by designing robust systems that safeguard against emerging cyber threats.
What are the Socomec’s main target segments in India, and USPs and differentiators over their competitors?
Socomec offers a comprehensive range of solutions, specializing in power conversion, power switching, and power monitoring solutions, thus delivering a complete range for power and energy management needs. The key market segments include data centers, healthcare, infrastructure, commercial and industrial buildings, and renewable energy. Socomec leverages its expertise in reliable power management solutions to ensure power availability, optimize energy efficiency and enhance operational performance, thereby facilitating sustainable growth in the sector.
Socomec’s unique selling propositions (USPs) and differentiators set it apart in the competitive market. The company dedicates nearly 8% of its revenue to innovation, ensuring the development of cutting-edge technologies that meet international standards. With local manufacturing facilities in India, Socomec supports the Make in India initiative, while its products are engineered in Europe and produced in India. This aligns with India’s energy goals and contributes to the country’s manufacturing competitiveness. The company’s focus on customer satisfaction is evident with over 12,000 happy customers and 25,000 installations across India.
What opportunities does Socomec find in the Indian market? How did Socomec fare in India in 2024?
Socomec identifies significant opportunities in the Indian market, driven by the growing demand for reliable power solutions in sectors such as data centers, healthcare, and renewable energy. With ISO certified manufacturing capabilities and NABL-accredited labs, Socomec is expanding into neighboring markets like Sri Lanka and Bangladesh to support its regional growth. India’s ambitious energy goals, including achieving 500 GW of non-fossil fuel capacity by 2030, reducing carbon emissions by 1 billion tons, and reaching 50% renewable energy in its energy mix, present a strong opportunity for Socomec to contribute with its advanced power switching, monitoring, and conversion solutions. The company is already making a significant impact, having supported the installation of over 50 GW of solar capacity across the country. By integrating IoT and digital solutions, it enables smarter, adaptive energy systems, supporting India’s vision of a resilient, energy-secure, and sustainable future.
In 2024, Socomec made a significant investment of $5 million in the Indian market to expand its manufacturing capacity, catering to local demand and boosting exports to emerging markets. The company remains committed to supporting India’s power sector by delivering innovative power management solutions.
When did Socomec start manufacturing in India and how is it progressing?
Socomec began its operations in India in 1990 through a partnership, and in 2006, it launched independent operations. Since then, the company has experienced remarkable growth, establishing a state-of-the-art manufacturing facility in Gurgaon and Haryana. This facility produces power conversion, switching, and monitoring products, utilizing advanced manufacturing technology and lean principles for continuous improvement and customization. Embracing Industry 4.0, Socomec has enhanced production efficiency, sustainability, and lean management. Key initiatives include optimizing material flow, space, and implementing ESD improvements have contributed significantly. Additionally, processes like deviation requests and quality control have been digitized, boosting speed and transparency. The company also employs the ANAPLAN tool for better demand forecasting and inventory planning. The Gurugram facility integrates renewable energy and follows ISO 14001 standards for environmental responsibility. Socomec’s commitment to sustainability and innovation supports India’s ‘Make in India’ initiative and aligns with the nation’s drive for a self-reliant economy.
How do you deal with challenges and competition in India? Supply chain / business / growth / keeping up with upcoming trends
Socomec has consistently enjoyed strong support from its Indian customers, driving double-digit growth for the past five years. We have built a solid presence across key sectors, including Data Centers, Healthcare, Commercial and Public Buildings, Infrastructure, Industry, and Renewable Energy, serving leading players and maintaining a dominant market position. We continue to invest in India, expanding its manufacturing capacity, engineering teams, commercial offices, channel partners, and distribution network to stay ahead of challenges and keep pace with industry trends. We focus on developing innovative solutions, like the DELPHYS XL, DELPHYS XM UPS and DIRIS A100/A200 for data centers and other critical infrastructures, tailored to meet emerging needs. Additionally, we are committed to sustainable growth, aligning with India’s Sustainable Development Goals, ensuring we not only remain competitive but contribute positively to India’s long-term economic and environmental objectives.
What are your plans for the FY2025-26 for the Indian market?
For FY2025-26, Socomec aims to significantly expand its market presence by strengthening operations in Sri Lanka and Bangladesh, with the goal of doubling revenue in these regions within the next three years. The company plans to continue investing in its Gurgaon facility to enhance its manufacturing capabilities, ensuring it can meet growing demand and support increased export opportunities. In addition, Socomec will focus on innovation and diversification, developing new products and solutions specifically tailored to the needs of the Indian market, with an emphasis on renewable energy and data centers. These strategic initiatives will solidify Socomec’s position as a leader in power management solutions, while reinforcing its commitment to innovation, sustainability, and delivering high levels of customer satisfaction.
Covered By: NCN MAGAZINE / Socomec
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