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

Topics Covered in the Romania Switchgear Market

Romania Switchgear Market report thoroughly covers the market by voltage, by 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.

Romania Switchgear Market Synopsis

Romania Switchgear Market is one of the fastest-growing markets in Europe that has been establishing its path in recent years. The switchgear market in the country is driven by the surge in infrastructural development projects, increasing demand for renewable energy sources, and a surge in urbanization across the nation. Efficient and reliable power distribution systems are fundamental to the functioning of domestic, commercial, and industrial sectors in Romania, resulting in the rise in demand for switchgear equipment.

According to 6Wresearch, the Romania Switchgear Market size is expected to grow at a CAGR of 5.5% during the forecast period of 2024-2030. The government is heavily investing in the development of the transportation sector that is shifting towards electric vehicles powered by renewable energy sources and thus, creating a huge demand for sustainable energy and storage systems. Additionally, the government is investing in major infrastructure projects, including the expansion and modernization of the country's electrical grid, leading to the construction of new power plants and transmission's lines in the country. The growth in the infrastructure sector is expected to create a huge demand in the switchgear market. However, increasing price pressure, lower margins, and intense competition in the Romanian switchgear market is expected to affect the profitability of the companies operating in the market. Apart from this, product innovation is the significant trend driving the Romania switchgear market growth. Key players are implementing advanced technologies in their production lines, making the switchgear devices safer, more efficient, and easier to use. For example, companies are shifting to SF6-free equipment to reduce the carbon footprint, improve performance, and meet environmental regulations.

Government policies and schemes introduced in the Romania Switchgear Market

The Romania Switchgear Industry has been growing owing to the policies and schemes introduced by the government to boost the industry.

The INVEST Romania Program: The INVEST Romania Program was launched by the government in 2015 to attract foreign investors to the country in various sectors, including the switchgear market. The program aims to create a favorable environment for foreign companies to invest in Romania and increase job opportunities in the country.

The Trade Promotion Program: The Trade Promotion Program is another initiative launched by the government to boost exports in various sectors, including the switchgear market. The program aims to provide support to companies that engage in export activities by providing access to finance, market intelligence, and other support services. Through the program, Romanian companies in the switchgear market have been able to reach new markets, thereby increasing their revenue and contributing to the growth of the industry.

Prominent players in the Romania Switchgear Market

There are several prominent players in the Romania switchgear market. These include ABB, Schneider Electric, Siemens, Eaton, and Legrand. ABB is a leading player in the market and provides a wide range of switchgear products and services. Schneider Electric is another major player and focuses on providing energy management solutions. Siemens is known for its digital solutions, while Eaton provides power management solutions. Legrand is a well-known player in the market and focuses on providing products for residential and commercial buildings.

Market Analysis by Voltage

According to Aditi, Senior Research Analyst, 6Wresearch, the low voltage switchgear dominates the Romania Switchgear Market Share as they are used in commercial and residential buildings. The medium voltage switchgear is used in power distribution and industrial applications, whereas high voltage switchgear is used in power generation, transmission, and distribution.

Market Analysis by Insulation

By Insulation, the medium voltage gas-insulated switchgear is the fastest-growing segment due to its compact size, safety, and longevity of the equipment.

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 Reports

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