Global Medium-voltage Switchgear Market

Global Medium-voltage Switchgear market was valued US$ 22.65Bn in 2017 and is expected to reach US$ 51.27 Bn by 2026, at a CAGR of 9.5 % during a forecast period. Global Medium-voltage Switchgear market Switchgear are switching devices that are specially designed to control, regulate, and protect various types of power generation, distribution, and transmission equipment. It is also used to provide protection to different electric motor control systems that installed in various end user segments. In electric power systems, switchgears are a combination of fuses and disconnect switches or circuit breakers. The purpose of switchgears is to de-energize the apparatus and allow maintenance work to be done and clear downstream faults. In terms of Voltage, 6kV – 15kV switchgear segment is expected to hold the largest share in terms of revenue generation. While 3kV – 5kV switchgear segment is expected to exhibit the most promising growth rate during the forecast period in terms of both value and volume. The demand for 3kV to 5 kV switchgears is anticipated to increase at an exponential rate in the coming years owing to its increasing usage in electrification in residential, commercial, and other real estate projects across the globe. In terms of Insulation, Air insulated switchgear market will grow on account of low capital investment and comparatively effective operational safety. Rising investments toward product and technological performance enhancements will further complement the industry outlook. In 2017, gas insulated units held over 15% of the global industry share in forecast period. Minimal maintenance, high dielectric strength, low space requirement and improved reliability are the key parameters which make its deployment preferable over other available alternatives. Factor such as increasing demand for electrification along with adoption of smart grid technology in emerging countries is one of the primary factors expected to boost the demand from the medium voltage switchgear market in the forecasting years. There has always been a problem of electrification in the emerging countries, which has restrained the growth of construction and industrial sectors. As of 2015, the electrification rate was less than 68% in South Asian countries such as Laos, Sri Lanka, India and Indonesia. Further lack of proper electrification in industries has hampered the use of switchgears and other advanced equipment, which require electricity. Increasing Competition from the Unorganized Sector of the Switchgear Market and Stringent Environmental and Safety Regulations for Sf6 Switchgears is major restraining factor of Medium-voltage Switchgear market. While Upcoming Smart Cities and Hvdc Transmission are opportunities factors towards the Medium-voltage Switchgear market. Geographically, The Asia Pacific market is expected to be leading contributor to the global Medium-voltage Switchgear market during forecasting period. Initiation of smart grid initiatives by various governments in this region, coupled with the huge investment for upgrading power transmission and distribution systems, is the major factor behind this region’s to dominant in the global medium voltage switchgear market. Key players operating in the global Medium-voltage Switchgear market are Schneider Electric SE, ABB, Siemens AG, General Electric, EATON CORPORATION plc, Larsen & Toubro, Ltd., Alstom SA, Hitachi, Ltd., CG Power and Industrial Solutions Limited, Hawker Siddeley Switchgear Ltd., Efacec Power Solutions – S.G.P.S. S.A., ELEKTROBUDOWA SA GROUP, Hyosung Corporation, Mitsubishi Electric Corporation, and Toshiba Corporation

The Scope of Global Medium-voltage Switchgear Market:

Global Medium-voltage Switchgear Market, by Voltage:

• 3kV – 5kV • 6kV – 15kV • 17kV – 27kV • 28kV – 40Kv

Global Medium-voltage Switchgear Market, by Insulation

• Air Insulated Switchgear • Gas Insulated Switchgear

Global Medium-voltage Switchgear Market, by End-Users:

• Power Plant • Gas and Petrochemical • Commercial Sector • Oil • Utility Sector • Paper and Pulp Industry

Global Medium-voltage Switchgear Market, by Region:

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

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