Malaysia Switchgear Market (2024-2030) | Companies, Size, Growth, Trends, Revenue, Analysis, Value, Forecast, Industry & Share

Malaysia Switchgear Market | Country-Wise Share and Competition Analysis

In the year 2021, Thailand was the largest exporter in terms of value, followed by Switzerland. It has registered a growth of 103004.32% over the previous year. While Switzerland registered a growth of 659.05% as compared to the previous year. In the year 2017, India was the largest exporter followed by Belgium. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Malaysia has a Herfindahl index of 3695 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of  6939 which signifies high concentration in the market.

Topics Covered in the Malaysia Switchgear Market

The Malaysia Switchgear Market report thoroughly covers the market by voltage, insulation, and by applications. The market outlook report provides an unbiased and detailed analysis of the ongoing 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.

Malaysia Switchgear Market Synopsis

Malaysia Switchgear Market is driven by several factors, including the country's growing energy demand, expanding industrial sector, and rising population. The government's initiatives to promote renewable energy and reduce carbon emissions have also played a significant role in the Malaysia Switchgear Market Growth. Additionally, the country's increasing focus on sustainable development and energy efficiency is expected to drive the switchgear market growth further.

According to 6Wresearch, the Malaysia Switchgear Market size is estimated to reach USD 1.3 billion, growing at a CAGR of 8.5% during the forecast period 2024-2030. The growth is mainly driven by the country's growing energy demand, expanding industrial sector, and the government's initiatives to promote renewable energy. Furthermore, the government's initiatives to invest in transmission and distribution infrastructure projects are also expected to contribute to the market expansion. The Malaysia Switchgear Industry is witnessing several trends, including the adoption of smart grid technology, advancements in switchgear technology, and the shift towards renewable energy sources. Smart grid technology is being implemented to improve efficiency, and reliability, and to reduce the overall costs of power transmission and distribution.

The adoption of renewable energy sources such as solar and wind power is also increasing, which is driving the demand for switchgear equipment. However, the Malaysia switchgear market faces several challenges, including the high initial investment cost associated with switchgear equipment, the lack of proper infrastructure, and the volatile prices of raw materials. Additionally, the market is highly competitive, with several international and domestic players operating in the industry, which makes it difficult for new players to enter. Despite the challenges, the Malaysia switchgear market offers several opportunities for manufacturers and investors. The government's initiatives to invest in renewable energy and the country's expanding industrial sector are expected to drive the market expansion. Additionally, the adoption of smart grid technology and the need for energy-efficient solutions create new opportunities for manufacturers.

Government policies and schemes introduced in the Malaysia Switchgear Market 

The Malaysia switchgear market share is experiencing tremendous growth due to increasing demand for electricity, and growing investments in power distribution, and delivery networks, among others. Also, the switchgear market is subject to various government policies and schemes.

National Sustainable Energy Policy (NSEP):

The NSEP has been established by the Malaysian government and seeks to promote innovation, the use of renewable energy, and environmental conservation in the energy sector. The policy aims to reduce dependence on non-renewable energy sources and increase the use of renewable energy such as solar, wind, and hydropower. 

Energy Efficiency and Conservation Act (EECA):

The Energy Efficiency and Conservation Act (EECA) was established in 2020 by the Malaysian government to promote energy efficiency in various industries, including the switchgear market. The act aims to regulate and set energy efficiency standards for various products, including electrical systems and appliances. 

Industrial Comprehensive Insurance Scheme (ICIS):

ICIS is an insurance scheme that has been introduced by the government to minimize the impact of factory accidents. The scheme provides insurance coverage to the industries against natural disasters and other accidental losses. 

Leading Players in the Malaysia Switchgear Market

The Malaysia switchgear market has some of the leading players in the market, including Schneider Electric, Siemens AG, ABB Group, and Mitsubishi Electric Corporation. These players have a significant market share in the industry as they offer advanced technologies and modern switchgear solutions, including power distribution, protection, control, and monitoring systems. 

Market Analysis by Voltage

According to Mayank, Senior Research Analyst, 6Wresearch, the low voltage segment accounted for the largest market share and is projected to continue its growth in the next five years. It comprises switchgear rated under 1 kV and is used in residential, commercial, and small-scale industrial applications. 

Market Analysis by Applications

In terms of Applications, the residential segment is the most significant consumer of low-voltage switchgear, mainly for home appliances and lighting solutions. The commercial segment requires medium and low-voltage switchgear for power distribution and control, whereas the industrial segment demands high-voltage switchgear due to the need for large-scale power distribution. 

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights Of The Report

• Malaysia Switchgear Market Overview
• Malaysia Switchgear Market Outlook
• Malaysia Switchgear Market Forecast
• Historical Data of Malaysia Switchgear Market Revenues & Volume for the Period 2020-2030
• Malaysia Switchgear Market Size and Malaysia Switchgear Market Forecast of Revenues & Volume, Until 2030
• Historical Data of Malaysia Switchgear Market Revenues & Volume, By Voltage, for the Period 2020-2030
• Market Size & Forecast of Malaysia Switchgear Market Revenues & Volume, By Voltage, Until 2030
• Historical Data of Malaysia Switchgear Market Revenues & Volume, By Insulation, for the Period 2020-2030
• Market Size & Forecast of Malaysia Switchgear Market Revenues & Volume, By Insulation, Until 2030
• Historical Data of Malaysia Switchgear Market Revenues & Volume, By Applications, for the Period 2020-2030
• Market Size & Forecast of Malaysia Switchgear Market Revenues & Volume, By Applications, Until 2030
• Market Drivers and Restraints
• Malaysia Switchgear Market Price Trends
• Malaysia Switchgear Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Malaysia Switchgear Market Share, By Players
• Malaysia Switchgear Market Share, By Regions
• Malaysia Switchgear Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Voltage

• Low Voltage Switchgear
• Medium Voltage Switchgear
• High Voltage Switchgear

By Insulation

Medium Voltage Switchgear

• Air Insulated
• Gas Insulated

High Voltage Switchgear

• Air Insulated
• Gas Insulated

Low Voltage Switchgear

• MCB
• MCCB
• C&R
• ACB
• COS
• Others

By Applications

• Residential
• Commercial
• Industrial
• Power Utilities