Switchgear Market to Witness an Outstanding Growth During 2020-2025

Global Switchgear Market Overview:

The recent switchgear market study, case studies on Covid-19 impact, offers insights into the current growth dynamics, major revenue reforms, and forecasts for 2020-2025.

The Switchgear Market report is a comprehensive documentation of the industry trends and aims to educate the readers about competitive scenario and regional business dynamics. The demand side of this market is characterized by its end-users such as T&D utilities, industries, commercial & residential, and others. The supply side is characterized by Original Equipment Manufacturers (OEM), raw material providers, and others.

According to the research report, the switchgear market size will grow to USD 88.5 billion by 2025 (forecast year) from USD 67.5 billion in 2020 (estimated year), at a post COVID-19 CAGR of 5.5% during the forecast period.

Replacement of aging infrastructure in North America, along with upgradation of existing substations due to rising electricity demand in Europe and Asia Pacific are the driving factors for the switchgear market, globally.

Key Market Players:

Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Eaton (Ireland)

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The air insulated switchgear segment is expected to dominate the switchgear market, by insulation type, during the forecast period.

Air insulated switchgear are among the common type of medium-voltage switchgears that are used these days. They are a combination of electrical disconnector switches, circuit breakers, and earth switches that are used to control, isolate, and protect electrical equipment using air as its insulating medium. AISs are relatively cost-effective, pollution-free, simple construction, and easy to maintain than gas insulated switchgear. They are used in transmission & distribution, manufacturing and processing, infrastructure and transportation, oil & gas, and other industries.

The indoor segment is expected to lead the switchgear market, by installation, during the forecast period.

An indoor switchgear is generally of metal-clad type. In this type of construction, all live parts are completely enclosed in an earthed metal casing. A medium-voltage switchgear is primarily installed indoor. The application of indoor switchgears includes power generation and distribution, infrastructure, transportation, manufacturing, oil & gas, mining, and marine. . The renewable sector is also assisting the growth of indoor switchgears, with many solar and wind power plant projects deploying indoor switchgears as an integral part of their power generation and distribution network.

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Asia Pacific likely to emerge as the largest switchgear market

The region has been segmented, by country, into China, Japan, India, Australia, and Rest of Asia Pacific. Increasing T&D network expansion and industrialization projects in emerging countries such as India and China are some of the key factors responsible for the growth of the switchgear market. As per the Indian Electrical and Electronics Manufacturer Association (IEEMA), the electricity generation capacity is expected to increase from 200 GW in 2010 to over 800 GW by 2032 to fulfill the increasing demand of customers. Thus, there is a need for a huge investment of approximately USD 300 billion in the next 3–4 years.

Browse Related Reports:

Paralleling Switchgear Market by End-User (Industrial, Commercial), Application (Prime, Standby and Peak shave), Transition Type (Open Transition and Closed Transition), Voltage (Low Voltage and Medium Voltage), and Region - Global Forecast to 2023

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Switchgear Market 2020: key players, growth and demand drivers to 2025

According to the new market research report "Switchgear Market by Insulation (Gas Insulated, Air Insulated), By Installation (Indoor, Outdoor) By End-Users (T&D Utilities, Industries, Commercial & Residential, Others), By Voltage (Low, Medium, High), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Switchgear Market size will grow to USD 88.5 billion by 2025 (forecast year) from USD 67.5 billion in 2020 (estimated year), at a post COVID-19 CAGR of 5.5% during the forecast period. Replacement of aging infrastructure in North America, along with upgradation of existing substations due to rising electricity demand in Europe and Asia Pacific are the driving factors for the Switchgear Market, globally.

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The air insulated switchgear segment is expected to dominate the Switchgear Market, by insulation type, during the forecast period.


Air insulated switchgear are among the common type of medium-voltage switchgears that are used these days. They are a combination of electrical disconnector switches, circuit breakers, and earth switches that are used to control, isolate, and protect electrical equipment using air as its insulating medium. AISs are relatively cost-effective, pollution-free, simple construction, and easy to maintain than gas insulated switchgear. They are used in transmission & distribution, manufacturing and processing, infrastructure and transportation, oil & gas, and other industries.


Browse in-depth TOC on "Switchgear Market"
74 – Tables
41 – Figures  
201 – Pages


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The indoor segment is expected to lead the Switchgear Market, by installation, during the forecast period.


An indoor switchgear is generally of metal-clad type. In this type of construction, all live parts are completely enclosed in an earthed metal casing. A medium-voltage switchgear is primarily installed indoor. The application of indoor switchgears includes power generation and distribution, infrastructure, transportation, manufacturing, oil & gas, mining, and marine. . The renewable sector is also assisting the growth of indoor switchgears, with many solar and wind power plant projects deploying indoor switchgears as an integral part of their power generation and distribution network.


Asia Pacific likely to emerge as the largest Switchgear Market


The region has been segmented, by country, into China, Japan, India, Australia, and Rest of Asia Pacific. Increasing T&D network expansion and industrialization projects in emerging countries such as India and China are some of the key factors responsible for the growth of the Switchgear Market. As per the Indian Electrical and Electronics Manufacturer Association (IEEMA), the electricity generation capacity is expected to increase from 200 GW in 2010 to over 800 GW by 2032 to fulfill the increasing demand of customers. Thus, there is a need for a huge investment of approximately USD 300 billion in the next 3–4 years. Some of the key players are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), GE (US), and Eaton (Ireland). The leading players are adopting various strategies to increase their share in the Switchgear Market.


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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Switchgear Market. Some of the key players are Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Eaton (Ireland). The leading players are adopting various strategies to increase their shares in the Switchgear Market.


About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.


Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.


MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com

Switchgear Market is Projected to Grow at a CAGR of 7.12% from 2017 to 2022.

The report "Switchgear Market by Voltage (< 1 KV, 1–36 KV, 36–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022", The global switchgear market is projected to grow at a CAGR of 7.12%, from 2017 to 2022. The market in Asia Pacific was the largest in 2016 and is projected to hold the largest share by 2022, followed by the markets in Europe and North America. The growth of the switchgear market is driven by increasing access to electricity in developing countries, increase in the number of renewable power generation projects, and growth of the construction and developmental activities.

                        

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The transmission and distribution utilities segment is expected to hold the largest share of the switchgear market, by end-user, during the forecast period.

The transmission and distribution utilities sub-segment of the end-user segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. The transmission and distribution utilities segment is also expected to grow at the fastest rate during the forecast period.

The growth of the transmission and distribution utilities segment is primarily driven by increasing investments in sub-station automation, modernization of electric grid, and smart utilities which includes smart grids and smart meters. This would enhance the protection by decreasing energy losses, due to poor operational efficiency of traditional equipment. This would ultimately create new revenue pockets for the switchgear market during the forecast period.

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The gas insulated switchgear is expected to hold the largest share of the switchgear market, by equipment, during the forecast period.

The gas insulated switchgear sub-segment of the equipment segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. Rising energy demand and extension/replacement of old switchgear at sub-stations can drive the gas insulated switchgear equipment in the switchgear market. However, the circuit breaker sub-segment accounted for the second largest share in 2016 in the switchgear market, based on the equipment segment.

“Asia Pacific: The largest market for switchgear in 2016”

The market in Asia Pacific is currently the largest market for switchgear followed by the European market. Rising investments in aging electrical grid infrastructure and increasing electricity demand are driving the switchgear market in the Asia Pacific region.

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Target Audience:

·         Switchgear manufacturers, dealers, and suppliers

·         Transmission and distribution utilities

·         State and national regulatory authorities

·         Power generation plants

·         Consulting companies in the energy and power sector

·         Government and research organizations

·         Environmental research institutes

·         Process industries and power and energy associations

·         Investment firms

Market Ecosystem:

The switchgear ecosystem comprises equipment manufacturers, such as, ABB, Ltd. (Switzerland), General Electric Company (US), Schneider Electric SE (France), EATON CORPORATION plc (Ireland), Siemens AG (Germany), Larsen & Toubro, Ltd. (India), Alstom SA (France), Hitachi, Ltd. (Japan), CG Power and Industrial Solutions Limited (India), Efacec Power Solutions – S.G.P.S. S.A. (Portugal), ELEKTROBUDOWA SA GROUP (Poland), Hawker Siddeley Switchgear Ltd. (UK), Hyosung Corporation (South Korea), Mitsubishi Electric Corporation (Japan), and Toshiba Corporation (Japan) among others.

Browse adjacent research reports:

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Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
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MarketsandMarkets™ INC.
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Switchgear Market 2017 Analysis and In-depth Research on Market Size, Trends, Emerging Growth Factors and Forecasts

The global switchgear market is projected to grow at a CAGR of 7.12%, from 2017 to 2022. The market in Asia Pacific was the largest in 2016 and is projected to hold the largest share by 2022, followed by the markets in Europe and North America. The growth of the switchgear market is driven by increasing access to electricity in developing countries, increase in the number of renewable power generation projects, and growth of the construction and developmental activities.

Browse 68 Market Data Tables and 51 Figures spread through 144 Pages and in-depth TOC on "Switchgear Market by Voltage (< 1 KV, 1–36 KV, 36–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022"

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The switchgear market is dominated by a few global players. The key players in this market include ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (US), EATON CORPORATION plc (Ireland), and Schneider Electric SE (France). 

Major strategies adopted by the players in the switchgear market over the period 2013–2017(July) included contracts & agreements, new product launches, expansions, and partnerships, of which contracts & agreements was the most adopted. The second most preferred growth strategy was new product launches which included India’s first 765 kV gas insulated substation by Larsen & Toubro Limited (India).

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ABB Ltd. (Switzerland) is a leading power and automation technology company that offers a wide range of products, services, and systems. It operates in five segments, namely, power products, power systems, low voltage products, discrete automation and motion, and process automation. The company manufactures switchgears through its power products segment. The company is focusing on the strategy of new product developments. In 2014, it produced the world’s first gas-insulated switchgear with a new eco-efficient gas, which is an alternative to Sulfur Hexafluoride (SF6) possessing 100% lower global warming potential than SF6. In January 2017, ABB won a contract worth USD 640 million to deliver a transmission link, Raigarh-Pugalur 800 kilovolt (kV) Ultra-High-Voltage Direct Current (UHVDC) system that connects Raigarh in Central India to Pugalur in the southern state of Tamil Nadu, India.

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Siemens AG (Germany) is a leading manufacturing and engineering company. It operates its business through nine segments, namely, power and gas, healthcare, energy management, digital factory, process industries and drives, mobility, building technologies, wind power and renewables, and financial services. The low and medium voltage division under the energy management segment caters to electrical grid operators, large industrial electricity consumers, and construction markets. It offers medium and low voltage electrical power equipment, which includes distribution switchgears, control gears, circuit breakers, and components for distributing and switching electrical power. The power transmission division under the energy business segment covers high voltage transmission solutions, power and distribution transformers, high voltage switching, non-switching products and systems, and AC and DC transmission systems. In May 2017, Siemens received a USD 867 million contract from Qatar General Water & Electricity Corporation (KAHRAMAA) for the expansion of the Qatar power transmission network which includes 35 turnkey super and primary sub-stations for Phase 13 of the Qatar Power Transmission System Expansion project. 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com