Switchgear Market to Witness A Phenomenal Growth by 2027

 According to the new market research report "Switchgear Market by Insulation (Gas-insulated Switchgears, Air-insulated Switchgears), Installation (Indoor, Outdoor), Current (AC, DC), Voltage (Low (up to 1 kV), Medium (2–36 kV), High (Above 36 kV), End User and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Switchgear Market size is estimated to be USD 120.1 billion by 2027 (forecast year) from USD 90.9 billion in 2022 (estimated year), at a CAGR of 5.7% during the forecast period. The Switchgear Market, is expected to witness significant growth during the forecast period, owing to the strengthening of power distribution infrastructure, increase in renewable energy capacity addition, and increased investment in industrial production. However, emerging smart technologies and digitalization along with the growing usage of high-voltage direct systems will also drive the market for switchgear.

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Air-insulated switchgears is expected to occupy majority of the Switchgear Market share

Air-insulated switchgears segment, by insulation, is projected to hold the highest market share during the forecast period owing to the rising demand from the expanding distribution networks, industries, and commercial and residential sectors. AIS is a common type of low and medium-voltage switchgears. They are relatively cost-effective, pollution-free, and have simple construction compared to gas-insulated switchgears.

Browse in-depth TOC on "Switchgear Market"
152 – Tables
62 – Figures  
250 – Pages

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Medium voltage segment by voltage is expected to grow at the highest CAGR from 2022 to 2027

Based on the voltage, the medium (2–36 kV) voltage segment is estimated to be the fastest-growing market from 2020 to 2027. They are generally used in all end-user segments, particularly in the manufacturing and process industries and T&D utilities. They protect industrial equipment, such as generators, motors and compressors, HVAC & air conditioning, heating & lighting equipment, overload current protection, and T&D sub-stations. Diesel-electric locomotives are rapidly being replaced by electric or battery-electric locomotives to reduce emissions in the railways sector which is expected to drive the growth of the medium (2–36 kV) voltage Switchgear Market.

Asia Pacific likely to emerge as the largest Switchgear Market

Asia Pacific accounted for the largest share in the global Switchgear Market during the forecast period. The rapid industrial growth is expected to drive the market of switchgear in the region. Also, the growth of population in the region will expand the housing infrastructure. Major economies such as China, Japan, and India have set ambitious natural gas and solar & wind-based renewable power generation targets to diversify their energy mix in the coming years. Therefore, efforts are being taken across these countries to upgrade aging infrastructure to ease the integration of renewables in the national grid. Electrification is also being carried out rapidly in this region, especially in remote parts. This could be a driving factor for the growth of the switchgear in Asia Pacific.

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Schneider Electric (France), ABB (Switzerland), General Electric (US), and Eaton (Ireland), and Siemens (Germany), and are the key players in the global Switchgear Market.

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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 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

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. Aashish Mehra
MarketsandMarkets™ INC.
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USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Switchgear Market Report 2020-2025: Leading Players are Schneider Electric, Siemens AG, ABB, General Electric, Eaton

The global switchgear market is projected to reach USD 88.5 billion by 2025 from an estimated USD 67.5 billion in 2020, at a post COVID-19 CAGR of  5.5% during the forecast period. Replacement of aging power infeastructure along with growing investments in renewable energy is expected to drive the switchgear market. Furthermore, revival of investments in the construction sector is expected to further drive the demand for this product.

https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html

The switchgear market has promising growth potential due to several factors, including the increased industrialization, increased population, growing demand for the replacement of aging infrastructure, and upgrdation of existing substation in emerging economies. The rapid industrialization in Asia Pacific especially in China and Southeast Asia has increased the opportunity for switchgear market growth.

Switchgear Market

The report segments the switchgear market, by voltage, into <1 kV, 1-36 kV, and >36 kV. The 1-36 kV segment of the switchgear market is expected to grow at the highest CAGR during the forecast period. Switchgears in the 1–36 kV voltage rating are referred to as medium-voltage switchgears and generally used across all end-user segments, particularly in the manufacturing and process industries and T&D utilities. The 1–36 kV switchgears can consist of equipment, such as circuit breakers, paralleling switchgear, ring main units, motor control centers, railway and marine switchgears, and surge arresters. The 1–36 kV switchgears are used for the protection of industrial equipment, such as generators, motors and compressors, HVAC and air-conditioning, heating and lighting equipment, overload current protection, and electric arc protection in T&D sub-stations. The increasing power distribution infrastructure in APAC, along with the rising commercial and residential infrastructure in North America and APAC is driving the demand for switchgears in this segment.

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The research report categorizes the switchgear market into the following segments and subsegments:

Based on Insulation

• AIS
• GIS

Based on the voltage:

• <1 kV
• 1-36 kV
• >36 kV

Based on the end-user:

• T&D Utilities
• Industries
• Commercial & Residential
• Ohers

By Region

• North America
• Asia Pacific
• South America
• Europe
• Middle East & Africa

The switchgear market, by installation, is categorized into indoor and outdoor. The indoor insulated switchgear segment is estimated to be the largest market for switchgear during the forecast. The indoor switchgear is commonly used in medium-voltage applications where the enclosure type is suitable for indoor environments. Most of the leading manufacturers of switchgears offer indoor type products for industries and commercial applications where the substations are installed at a medium voltage. Several industries, such as marine, oil & gas, mining, aviation, cement, aluminum, iron and steel, and automobile and chemical industries, use these solutions for power stability. An uninterrupted power supply is the key factor driving the demand for indoor switchgears.

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Europe is estimated to be the fastest growing market for switchgear during the forecast period. The European switchgear market, by country, has been segmented into the UK, Germany, France, Russia, and the Rest of Europe. The European power generation, transmission, and distribution systems are comparatively mature. Therefore, the European Union (EU) is focusing on upgrading its aging infrastructure, integrating renewable energy sources such as solar and wind power, and building interconnections to enable more efficient power and energy trading. This would also require the replacement of the switchgear from electromechanical to digital which will propel the demand for switchgear.

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.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
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USA : 1-888-600-6441
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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.

Download PDF Brochure:
 
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1162268


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


View Detailed Table of Content Here:
https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html


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 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.

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