Market Forecast 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) And Competitive Landscape
Product Code: ETC000467 | Publication Date: Dec 2023 | Updated Date: May 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Thailand Switchgear market currently, in 2023, has witnessed an HHI of 1894, Which has decreased slightly as compared to the HHI of 2319 in 2017. The market is moving towards moderately competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
The Thailand Switchgear Market report thoroughly covers the market by voltage, by insulation, by applications and competitive Landscape. The report provides an unbiased and detailed analysis of the on-going 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.
Switchgear is an essential component of a power system used to control, protect, and isolate electrical equipment. There are several trends that define the Thailand Switchgear Market. Firstly, the push for renewable energy sources, which is part of Thailand's energy policy to increase the share of renewables in the country's energy generation mix. This trend has led to the growth of alternative energy sources like hydro, wind, and solar power. Secondly, technological advances in switchgear manufacturing have led to the development of new products like gas-insulated switchgear, which improves transmission efficiency while reducing system size. Lastly, adoption of smart grid technology, which involves the integration of advanced control and data analytics systems, has led to a need for reliable and efficient switchgear solutions. However, the Thailand switchgear industry faces several challenges, one of the significant challenges in the Thai market is the presence of counterfeit products. Despite efforts by government agencies to regulate the industry, counterfeit products continue to flood the market, which affects the quality and safety of electrical equipment. Secondly, lack of favorable import policies for raw materials used in manufacturing Switchgear is a challenge that hinders growth for manufacturers. Lastly, limited technological capability and low adoption rate of advanced components limit the industry's full potential.
According to 6Wresearch, Thailand switchgear market size is projected to grow at a CAGR of 9.8% during 2024-2030. Some of the factors contributing to this growth include an increase in energy demand, government initiatives for renewable energy projects, and a growing need for efficient power transmission. Additionally, Thailand's power system is undergoing significant infrastructure development to meet the growing demand for power. As a result, there has been an increase in the construction of substations and transmission lines. Switchgear plays a critical role in the transmission and distribution of electricity to homes and industries. As infrastructure development in the country continues, there is expected to be a growing demand for switchgear products. Further, Thailand's economy has been rapidly industrializing and urbanizing, leading to an increase in the demand for electricity. With the expansion of industries, the demand for reliable and uninterrupted power supply has become critical. As businesses rely heavily on electricity for their operations, disruptions can result in significant costs and disruptions. Switchgear products offer effective protection against electrical faults, minimizing downtime in industries and ensuring efficient operations.
The Thai government has been implementing measures to promote the development of the country's power sector. There have been increased initiatives in renewable energy and energy efficiency to meet the country's power needs. The government has also established regulations and policies to ensure safety and facilitate the development of the switchgear industry. Similarly, these actions have strengthened the Thailand Switchgear Market Share. Further, companies that invest in the switchgear market can benefit from the supportive regulatory environment and leverage the growth opportunities.
The switchgear market in Thailand has a handful of key players dominating the industry. These companies are renowned for their innovative product portfolios, responsive manufacturing processes, and high-quality customer service. Schneider Electric, ABB, Siemens, Mitsubishi Electric, and Federal Electric are leading the industry in Thailand with an extensive range of switchgear products and solutions. The leading firms reside extensive Thailand Switchgear Market Revenues. These companies not only meet customers' requirements but also provide energy-efficient solutions to make the world a better place.
According to Ravi Bhandari, Research Head, 6Wresearch, the Medium Voltage Switchgear ranges from 1kV to 35 kV and is used in power substations, power plants, and large industrial buildings. The high demand for renewable energy sources, in particular, solar power, has significantly increased the demand for medium voltage switchgear in Thailand. Additionally, the high Voltage Switchgear ranges above 35 kV and is used in power generation plants, advanced industrial complexes, and electrical railways. These switchgear products are engineered to meet a higher level of design and installation requirements due to the higher voltage and current capacity. The growth of heavy industry has driven the demand for high voltage switchgear.
The market has witnessed a growing demand for switchgear products that cater to residential, commercial, industrial, and power utility applications. The Thailand switchgear market for commercial applications is booming due to the country's industrialization and the boom of the hospitality and tourism industries. Companies need switchgear products that can handle more extensive power consumption such as lighting, parking, elevators, and other electrical systems. The switchgear products sold for commercial use come in various voltage ratings, with most devices using solid-state technology. But there are still some units that use electromechanical switching devices that are reliable and have a long functional life compared to solid-state technology. Additionally, the industrial switchgear products differ from residential and commercial products in terms of their higher voltage ratings. In Thailand, industrial switchgear products come in low voltage and medium voltage levels where operational safety and reliability are critical. The industrial sector's switchgear units must be robust and designed to withstand significantly high electrical loads. These subsystems also come with advanced features such as remote monitoring and automated tripping to prevent damage and system overload.
The report offers a comprehensive study of the subsequent market segments:
Medium Voltage Switchgear
High Voltage Switchgear
Low Voltage Switchgear
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights of The Report |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Thailand Switchgear Market Overview |
3.1 Thailand Country Indicators |
3.2 Thailand Switchgear Market Revenues & Volume 2020-2030F |
3.3 Thailand Switchgear Market Revenue Share, By Voltage, 2020 & 2030F |
3.4 Thailand Switchgear Market Revenue Share, By Insulation, 2020 & 2030F |
3.5 Thailand Switchgear Market Revenue Share, By Application, 2020 & 2030F |
3.6 Thailand Switchgear Market - Industry Life Cycle |
3.7 Thailand Switchgear Market - Porter’s Five Forces |
4. Thailand Switchgear Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Thailand Switchgear Market Trends |
6. Thailand Switchgear Market Overview, By Voltage |
6.1 Thailand Switchgear Market Revenues & Volume, By Low Voltage Switchgear 2020-2030F |
6.2 Thailand Switchgear Market Revenues & Volume, By Medium Voltage Switchgear 2020-2030F |
6.3 Thailand Switchgear Market Revenues & Volume, By High Voltage Switchgear 2020-2030F |
7. Thailand Switchgear Market Overview, By Insulation |
7.1 Thailand Switchgear Market Revenues, By Medium Voltage Switchgear, 2020-2030F |
7.2 Thailand Switchgear Market Revenues, By High Voltage Switchgear, 2020-2030F |
7.3 Thailand Switchgear Market Revenues, By Low Voltage Switchgear, 2020-2030F |
8. Thailand Switchgear Market Overview, By Application |
8.1 Thailand Switchgear Market Revenues & Volume, By Residential, 2020-2030F |
8.2 Thailand Switchgear Market Revenues & Volume, By Commercial, 2020-2030F |
8.3 Thailand Switchgear Market Revenues & Volume, By Industrial, 2020-2030F |
8.4 Thailand Switchgear Market Revenues & Volume, By Power Utilities, 2020-2030F |
9. Thailand Switchgear Market - Key Performance Indicators |
10. Thailand Switchgear Market - Opportunity Assessment |
10.1 Thailand Switchgear Market Opportunity Assessment, By Voltage 2030F |
10.2 Thailand Switchgear Market Opportunity Assessment, By Insulation 2030F |
10.3 Thailand Switchgear Market Opportunity Assessment, By Application, 2030F |
11. Thailand Switchgear Market Competitive Landscape |
11.1 Thailand Switchgear Market Revenue Share, By Company, 2023 |
11.2 Thailand Switchgear Market Competitive Benchmarking, By Operating & Technical Parameters |
12. Company Profiles |
13. Key Recommendations |
14. Disclaimer |
Market Forecast By Voltage (Low Voltage (By Type (MCB, MCCB, ACB & Others), By Application (Residential, Commercial, Industrial, Power Utilities & Others)), Medium Voltage (By Application (Residential, Commercial, Industrial, Power Utilities & Others), By Insulation Type (Air Insulated Switchgear & Other Insulated Switchgear)), High Voltage Switchgear (By Application (Residential, Commercial, Industrial, Power Utilities & Others)), By Insulation Type (Air Insulated Switchgear, Other Insulated Switchgear)), By Applications (Residential, Commercial, Industrial, Power Utilities & Others) And Competitive Landscape.
Product Code: ETC000467 | Publication Date: May 2022 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Thailand Switchgear Market is projected to grow over the coming year. Thailand Switchgear Market report is a part of our periodical regional publication Asia Pacific Switchgear Market outlook report. 6W tracks Switchgear market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Switchgear Market outlook report annually.
Thailand Switchgear Market report comprehensively covers the market by Voltage, Types, application and Insulation. The market 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.
Thailand Switchgear Market Synopsis
Thailand Switchgear market is likely to gain momentum during the upcoming years on account of surging population. The increasing penetration towards smart monitoring and controlling is one of the key factors driving the Thailand Switchgear Market Growth. Additionally, the increasing disposable income coupled with rising urbanization, modernization and industrialization is proliferating the growth of the market. Growing demand for reliable and stable T&D network along with increasing penetration towards efficient power infrastructure beholds the growth of the market.
According to 6Wresearch, Thailand Switchgear Market size is projected to register growth during 2022-2028. Rising penetration towards the alleviation of blackouts owing to the lack of infrastructure is proliferating the development of the market. Lack of investment and ageing infrastructure in the country is adding to the Thailand Switchgear Market Share. Rising consumer inclination upgradation of the old infrastructure is propelling the demand for switchgear. However, the outburst of coronavirus pandemic hampered the growth of the market owing to nationwide lockdown and restrictions on movement of goods. The health emergency led to disruption in supply chain of switchgear which further declined the development of the market.
Market Analysis by Voltage
On the basis of Voltage, the low voltage segment is expected to grow substantially during the forthcoming years owing to deployment in distribution networks.
Key Attractiveness of the Report
Key Highlights of Switchgear Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
Market Forecast By Voltage (Low Voltage (< 1.1 kV), Medium Voltage (1.1 kV - 36 kV) and High Voltage (> 36 kV)), By Insulation (Medium Voltage (Air, Gas, and Others) and High Voltage (Air and Gas)), By Types (Low Voltage (MCB, MCCB, C&R, ACB, COS, and Others) and Medium Voltage (Indoor (ISG) and Others including Outdoor, RMU, and CSS )), By Verticals (Residential, Commercial, Industrial, Power Utilities and Others), By Regions (Northern, Central, North Eastern, and Southern ) and Competitive Landscape
Product Code: ETC000467 | Publication Date: Dec 2021 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 145 | No. of Figures: 59 | No. of Tables: 17 |
Rising infrastructure development, expansion of power transmission and distribution network along with ambitious transportation projects would fuel the growth of Thailand switchgear market during the forecast period. Additionally, large-scale infrastructure and power sector development plans such as the transport infrastructure development master plan 2015-2022 as well as the Thailand Power Development Plan 2015-2036 are expected to further increase the demand for switchgears in Thailand over the coming years.
According to 6Wresearch, Thailand switchgear market size is projected to grow at a CAGR of 4.0% during 2018-24. According to Thailand's Alternative Energy Development Plan (2012-2021), Government aims to generate around 6.83 GW from renewable power generation sources such as solar, wind, and biomass by 2021. Further, the government of Thailand also plans to reduce power generation dependency from gas based power plants to other power generation sources such as hydro, coal, solar, wind, and biomass, which would also lead to the growth of the switchgear market in the future. Low voltage switchgear segment acquired the highest market revenue share in 2017 among all other types due to their high consumption in commercial and residential sectors.
Further, by application type, power utility captured the largest revenue share in Thailand switchgear market share in 2017 followed by the Industrial sector, due to high consumption of low, medium, and high voltage switchgear in the power utility segment. Additionally, government initiatives such as Thailand 4.0 and power development plan 2015-2036 would also fuel the market of switchgear during the forecast period.
The Thailand switchgear market report comprehensively covers Thailand Switchgear Market by voltage, insulation, types, applications and regions. The Thailand switchgear market outlook report provides an unbiased and detailed analysis of the Thailand switchgear market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report:
• Thailand Switchgear Market Overview
• Thailand Switchgear Market Outlook
• Thailand Switchgear Market Forecast
• Historical Data of Global Switchgear Market Revenues for the Period 2014-2017
• Market Size and Forecast of Global Switchgear Market Revenues until 2024
• Historical Data of Thailand Switchgear Market Revenues for the Period 2014-2017
• Thailand Switchgear Market Size and Thailand Switchgear Market Forecast of Revenues, until 2024
• Historical Data of Thailand Low Voltage Switchgear Market Revenues for the Period 2014-2017
• Market Size and Forecast of Thailand Low Voltage Switchgear Market Revenues until 2024
• Historical Data of Thailand Medium Voltage Switchgear Market Revenues & Volume for the Period 2014-2017
• Market Size and Forecast of Thailand Medium Voltage Switchgear Market Revenues & Volume until 2024
• Historical Data of Thailand High Voltage Switchgear Market Revenues & Volume for the Period 2014-2017
• Market Size and Forecast of Thailand High Voltage Switchgear Market Revenues & Volume until 2024
• Historical Data of Thailand Switchgear Market Revenues for the Period 2014-2017, By Applications
• Market Size and Forecast of Thailand Switchgear Market Revenues until 2024, By Applications
• Historical & Forecast Data of Thailand Switchgear Regional Market Revenues for the Period 2014-2024
• Market Drivers and Restraints
• Thailand Switchgear Market Trends and Developments
• Thailand Switchgear Market Share, by Players
• Thailand Switchgear Market Overview on Competitive Landscape
• Company Profiles
• Strategic Recommendations
Markets Covered
The Thailand switchgear market report provides a detailed analysis of the following market segments:
• By Voltage:
o Low Voltage (< 1kV)
o Medium Voltage (< 1kV)
o High Voltage (> 36 kV)
• By Insulation:
o Medium Voltage:
■ Air Insulated
■ Gas Insulated
■ Others
o High Voltage:
■ Air Insulated
■ Gas Insulated
• By Voltage Types:
o Low Voltage:
■ MCB
■ MCCB
■ COS
■ C&R
■ ACB
■ Others
o Medium Voltage:
■ Indoor Switchgear (ISG)
■ Others (Outdoor, RMU, CSS)
• By Verticals:
o Residential
o Industrial
o Commercial
o Power Utilities
o Others
• By Regions:
o Northern
o Central
o North Eastern
o Southern