Global Switchgear Market (2022-2028) | industry, overview, Value, Size, Share, Forecast, Revenue & Outlook

Latest 2021 Developments

Global Switchgear Market has seen latest innovations which include the introduction of digital switchgears which use the collected information to analyze the performance of current levels, temperature, operating cycles, and load levels that helps in improving the performance and reliability of switchgears. The manufacturers are focusing on digital technologies and are working to develop innovative products to meet the changing requirements of the power generation industry, investing in eco-efficient solutions for minimizing the impact on the environment, deploying Internet of Things (IoT) enabled switchgears for automated operations and energy management, promoting automated switchgear within power generation and transmission industries to adopt smart grid operations, and developing and promoting specialized switchgear for critical industries.

Mergers and Acquisitions:

• In Jan 2020 - Siemens AG acquired C&S Electric Limited
• On December 21, 2020, Meidensha Corporation signed Investment Agreement with a Polish startup Elmodis Sp. z o.o.
• In March 2021, Eaton announced that it had completed the acquisition of Tripp Lite.
• In June 2021, Eaton announced it had completed the acquisition of Cobham Mission Systems.

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With increasing investment in renewable energy across the globe, the demand for switchgear is surging rapidly. Moreover, the growing construction industry along with the rise in demand for safe and secure electrical allocation systems would be the key factor driving the demand for switchgear markets throughout the forecast period.

According to 6Wresearch, Global Switchgear Market is anticipated to register growth during 2019-25. In the overall global Switchgear market share, Asia Pacific has captured major revenue pie in 2018 and is expected to lead during the forecast period. China and India are the leading revenue-generating countries in the Asia Pacific Switchgear market.

 On the basis of high voltage switchgear insulation, the market can be broadly categorized into air-insulated, gas insulted, and others. A rise in demand for Gas Insulated Switchgear (GIS) in the industrial sector due to its features which can satisfy high energy demands for the machines with low ownership cost would drive the demand for Gas Insulated Switchgear over the coming years.

The Global Switchgear market report thoroughly covers the market by voltage, insulation types, applications, regions, and key countries. The global Switchgear market outlook report provides an unbiased and detailed analysis of the ongoing global Switchgear market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

The global switchgear market having a high-intensity of the fault currents might be damage the electrical equipment and multiply devices of the circuit and these going to failure and mitigate due to the use of the switchgear or fuses by the employed. At one point in time, the fuses need to be replaced because they get disconnected with the circuit and they provide the re-closure functions we can set the circuit in the normal functioning, switchgear provides the re-closure of the functioning at the various level such as low voltage/ high voltages. According to the automation process is going to booming all the industries at the global level of the switchgear market is going to increase the witnessing of the tremendous growth opportunities. On the basis of various segments, the product type of the switchgear market is broadly categorized such as modular/integrated switchgear, conventional switchgear. There are various conventional switchgear systems and various components such as transformers, disconnections, and circuit breakers they need more space for the installation and modular switchgear. To overcome the issues modular type of switchgear used to integrating the functions into one breaking chamber of the circuit breaker.

According to the geographically segmented into the seven regions such as South America, North America, Japan, Western Europe, Eastern Europe, Asia Pacific, and Middle East & Africa. The Asia- Pacific holds the largest share in the global switchgear market and many countries followed such as South America, North America, and Europe. In the forecast period, the Asia-Pacific switchgear market is going to dominate and maintains the global switchgear market. There are emerging countries also available such as china, India, and the Asia-pacific region are going to installing the new transmission and different distribution channels and there is infrastructural development which going to be major driving factors in the global switchgear market. China going to dominates the global switchgear market more than the 20% share involved in the switchgear. According to the economic conditions of the Eastern and Western Europe, switchgear market is going to expect the significant of the amount in the global switchgear market due to the increase in the infrastructure  development and the different source will use for the renewable energy in the upcoming years

The Global switchgear market is expected to reap potential revenues in the upcoming six years on the back of industrial expansion and an increase in the infrastructural activities in developing economies across the globe. The North America switchgear market is anticipated to offer lucrative opportunities for the growth of the Global switchgear market owing to the increased development of the T&D sector across the region. Further, the Asia Pacific switchgear market is expected to reap the highest growth potential in the upcoming six years owing to an increase in the investments by the government for the growth and industrial expansion and would proliferate sound market revenues for the Global switchgear market in the coming years. 

The global switchgear market is projected to gain momentum in the forthcoming years underpinned by an increase in the growth of industrialization, especially in the Asia Pacific region. Moreover, the growing commercial sector is estimated to generate high sales revenues owing to increased infrastructure development of the hotels and food courts which indicate high energy consumption in the years ahead. In line with this, the production of energy would also increase, and simultaneously the adoption of switchgear is likely to instigate to protect from short circuit and is estimated to act as a catalyst for the growth of the global switches market in the years ahead.

Key Highlights of the Report:

• Global Switchgear Market Overview
• Global Switchgear Market Outlook
• Global Switchgear Market Forecast
• Historical Data of Global Switchgear Market Revenues & Volume for the Period 2015-2018
• Global Switchgear Market Size and Global Switchgear Market Forecast of Revenues & Volume, Until 2025
• Historical Data of Global Switchgear Market Revenues & Volume, by Voltage, for the Period 2015-2018
• Market Size & Forecast of Global Switchgear Market Revenues & Volume, by Voltage, Until 2025
• Historical Data of Global Switchgear Market Revenues & Volume, by Insulation, for the Period 2015-2018
• Market Size & Forecast of Global Switchgear Market Revenues & Volume, by Insulation, Until 2025
• Historical Data of Global Switchgear Market Revenues & Volume, By Applications, for the Period 2015-2018
• Market Size & Forecast of Global Switchgear Market Revenues & Volume, By Applications, Until 2025
• Historical Data of North America Switchgear Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of North America Switchgear Market Revenues and Volume, Until 2025
• Historical Data of Europe Switchgear Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Europe Switchgear Market Revenues and Volume, Until 2025
• Historical Data of Asia Pacific Switchgear Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Asia Pacific Switchgear Market Revenues and Volume, Until 2025
• Market Drivers and Restraints
• Global Switchgear Market Price Trends
• Global Switchgear Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Global Switchgear Market Share, By Regions
• Global Switchgear Market Share, By Players
• Global Switchgear Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Global Switchgear Market report provides a detailed analysis of the following market segments:

• By Voltage:
  • Low Voltage Switchgear
  • Medium Voltage Switchgear
  • High Voltage Switchgear
• By Insulation:
  • Medium Voltage Switchgear
    • Air Insulated
    • Gas Insulated
    • Others
  • High Voltage Switchgear
    • Air Insulated
    • Gas Insulated
    • Others
• By Types:
  • • Low Voltage Switchgear
      • MCB
      • MCCB
      • C&R
      • ACB
      • COS
      • Others
    • Medium Voltage Switchgear
      • Indoor Switchgear (ISG)
      • Outdoor Switchgear (OSG)
      • Others
• By Applications:
  • • Residential
    • Commercial
    • Industrial
    • Power Utilities
    • Others
• By Regions:
  • • North America
    • Europe
    • Asia-Pacific
    • Latin America
    • MEA

Other Key Reports Available:

• North America Switchgear Market Report
• Europe Switchgear Market Report
• Asia-Pacific Switchgear Market Report
• Latin America Switchgear Market Report
• MEA Switchgear Market Report