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.

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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.

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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.

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Booster Compressor Market Recent Developments & Emerging Trends To 2023

 

The booster compressor market is expected to grow from an estimated USD 1.92 Billion in 2018 to USD 2.39 Billion by 2023, at a CAGR of 4.50% during the forecast period. The booster compressor market is primarily driven by the growing investments in oil & gas exploration and increasing industrialization in developing economies. In addition, the modular design and the lower cost of booster compressors will drive the demand of the booster compressor market.

The oil & gas segment is expected to hold the largest share of the booster compressor market, by end-user, during the forecast period

The oil & gas segment led the booster compressor market in 2017 and is projected to dominate the market during the forecast period. The booster compressor market for the oil & gas industry is driven by the growing investments in the industry. The investments are made in both upstream and midstream markets. The investment is driven by the growing demand for oil & gas in countries such as India and China. Booster compressors are used in different applications in the upstream and midstream industries such as hydrocarbon blanketing and gas boosting in the compression station. Thus, growing investments in the oil & gas sector create demand for booster compressors.

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Target Audience:

• End-use industries such as oil & gas and petrochemical and chemical
• Booster compressor manufacturers and suppliers
• Government and research organizations
• Institutional investors
• Investment banks
• National and local government organizations
• OEM suppliers

Air-cooled segment is expected to be the fastest growing cooling type market

The air-cooled segment is expected to be the fastest growing cooling type market during the forecast period. The market for air-cooled booster compressors is primarily driven by the technical advancements in the cooling technology. The new air-cooled booster compressors are available in forced ventilation package. Due to the forced ventilation system, the energy loss from the motor is less, which increases the efficiency of the compressor even at high pressure. The air-cooled booster compressor is more cost-effective than the water-cooled booster compressor. These factors are driving the growth of the air-cooled booster compressor market, during forecasted period.

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Asia Pacific: The leading market for booster compressors

Asia Pacific is projected to be the largest market for booster compressors during the forecast period. The major economies in the region such as China, India, and Australia are investing in the oil & gas industry in order to reduce their imports and meet their growing demand for oil & gas. The rising demand for oil & gas is attributed to the rapid industrialization in the region. The demand for natural gas in the region is increasing as countries such as China are diversifying their energy mix and moving toward natural gas to be used as a source for power generation. In addition, the petrochemical market in the region is rising driven by the growing oil & gas investments in the region. Booster compressors are used for different applications in this industry such as drilling activities in the oil & gas industry and air separation in the petrochemical industry. The growing investments in this industry is driving the booster compressor market in the region.

Scope of the Report:

• By Cooling Type
  • Air-cooled
  • Water-cooled
• By Compression Stage
  • Single stage
  • Double stage
  • Multistage
• By Pressure
  • 14–40 bar
  • 41–100 bar
  • 101–350 bar
  • Above 351 bar
• By End-User
  • Oil & Gas
  • Process Industry
  • Chemical & Petrochemical
  • Power Generation
  • Others
• By Region
  • Asia Pacific
  • Europe
    
  • North America
  • South America
  • Middle East & Africa

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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 booster compressor market. These players include Atlas Copco (Sweden), Ingersoll Rand (Republic of Ireland), Kaeser Kompressoren (Germany), SAUER Compressor (Germany) and BAUER Kompressoren (Germany). The leading players are trying to make inroads in the market in the developed economies and are adopting various strategies to increase their market shares.

Comprehensive Report on Recloser Market Set to Witness Huge Growth by 2025 | ABB, Schneider, NOJA Power, Siemens, Eaton

According to the new market research report the global recloser market is projected to reach USD 2.4 billion by 2025 from an estimated market size of USD 1.9 billion in 2020, at a CAGR of 4.8% during the forecast period. The global recloser market is set to witness significant growth owing to increasing power demand and expansion of transmission and distribution network globally. Additionally, increasing the share of renewable energy would also drive the grid integration projects and finally recloser and sectionalizer market.

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The electronic recloser control segment is expected to be the fastest market during the forecast period

The electronic recloser control segment is projected to be the fastest recloser market, by control type, during the forecast period. The electronic recloser control segment accounts for greater share of the total recloser market due to greater flexibility, ease of customization & programing, and have advanced protection, metering, and automation functionality. The growth in electronic recloser control market can be attributed to its low cost and wide area of its applications. Demand for electronic recloser control is on the rise in China, which is the major country in electric utility industry in terms of grid modernization projects. According to the Renewable Energy Policy Network (REN21), China accounted for 45% of the total global investment for renewable power generation in 2018. Increasing investments in renewable power would drive the market for distribution automation in Asia Pacific which would further drive the market for electronic recloser.

The Up to 15 KV segment is expected to be the fastest recloser market (including sectionalizer), by voltage, during the forecast period

The Up to 15 KV segment is expected to grow at the fastest rate during the forecast period. The up to 15 KV segment is expected to grow at the fastest CAGR due to the increase in residential power distribution capacity to cater the increasing demand for electricity in residential areas. Also, increasing investments in grid transmission and distribution projects in rural areas would also fuel the growth of the segment in the forecast period.

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This research report categorizes the recloser market by phase, control type, voltage, and region.

Recloser Market

By Phase:

• Three Phase
• Single Phase
• Triple Single Phase

By Control type:

• Electronic
• Hydraulic

Sectionalizer Market:

By Phase:

• Three Phase
• Single Phase

By Control type:

• Resettable Electronic
• Programmable Resettable

Recloser and Sectionalizer

By Voltage:

• Up to 15 KV
• 16-27 KV
• 28-38 KV

By Region:

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

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Asia Pacific is expected to dominate the global recloser and sectionalizer market during the forecast period.

 The growth of the recloser and sectionalizer market in the Asia Pacific can be attributed to the increasing demand for electrical energy due to urbanization and industrialization, distribution network upgrade, and increasing need of power reliability. Also, rising investments in smart grid infrastructure projects that includes distribution automation would result in an increased demand for recloser and sectionalizer in the Asia-Pacific region. Additionally, the rise in investments in smart grid technologies that include distribution grid automation, smart meters, and demand response systems in countries such as China, India, South Korea, and Australia would create growth opportunities for the recloser and sectionalizer market in the region.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the recloser market. These include Noja Power (Australia), ABB (Switzerland), Eaton (Ireland), Schneider Electric (France), and Siemens (Germany). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.

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.

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