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Switchgear Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Publisher Fortune Business Insights Pvt. Ltd.
Published Dec 01, 2024
Length 190 Pages
SKU # FOB19410836

Description

Switchgear Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Switchgear Market

The switchgear market size was valued at USD 105.43 billion in 2019, and the market is now projected to be USD 242.53 billion by 2032, exhibiting a CAGR of 6.89% during the forecast period of 2020-2032.

The COVID-19 pandemic has held back the switchgear market growth. The imposition of lockdown by the governments has decreased the demand for power from the trades. The investment in grid contracts has also declined at a faster rate which hindered the market growth. Various companies have shut down their manufacturing sites and processing. The supply chain disruption has reduced availability of raw materials and has postponed many activities related to the power projects. Hence, the pandemic has impeded market expansion.

The switchgear market share globally has increased because of the growing industrial infrastructures and the positive outlook for generating renewable power. The rising energy demand to reinforce fast urbanization and increasing awareness for the new generation merger is propelling the market growth. The equipment is generally used in complex electrical substations which maintain the stability of the voltage. The utilization of switching components in a range of sectors such as banks, government offices, and other buildings are boosting demand for the product and consequently enhancing the market growth.

The market trends are upgrading of deteriorating power infrastructure and rising introduction of smart monitoring and control units are fueling the market growth. The increasing demand for energy is needed for a reliable and stable power transmission and distribution network. This is because of the rising number of blackouts. The lack of expenditures, aging infrastructure, and improper regulation for modernization of the grid are forcing companies to upgrade the system. The incorporation of advanced technologies for producing smart monitoring and control units, digital solutions and other features in the grid network are accelerating the market growth.

Comprehensive Analysis of Switchgear Market

The switchgear market and power & energy industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional evaluation considering the dominant supply and demand forces that impact the power & energy industry. These segmentations are methodically segregated by types of insulation, installation, voltage, and end-user. The insulations include gas, air, oil, and vacuum. However, the installations are indoor and outdoor. The voltages include low, medium, and high. Similarly, the end-users involve T&D utility, industrial, commercial & residential.

The Asia Pacific region is conducive to the global switchgear market, leading to a recall of USD 45.98 billion due to the existence of large plants and developing modernization of the region are supporting the market growth.

The top players in the market play an essential role in the power & energy industry assuring industrial prospectus growth and setting market values. These players include ABB (Zurich, Switzerland), Misubishi Electric (Tokyo, Japan), Schneider Electric (Rueil, Malmaison, France), Hitachi (Tokyo, Japan), Kirloskar Electric Co. Ltd. (Pune, India), Siemens Energy (Munich, Germany), Hubbell Incorporated (Connecticut, United States), Toshiba International Corporation (Texas, United States), CG Power and Industrial Solutions Limited (Mumbai, India), Fuji Electric Co., LTD. (Tokyo, Japan), Powell (Texas, United States), L&T Electrical & Automation (Mumbai, India), HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD. (South Korea), Hyosung Corporation (Seoul, South Korea), Lucy Electric (Oxford, UK), and E+I Engineering (Donegal, Ireland), these market players provide a level-playing competitive landscape.

In August 2019, Wind turbine manufacturer MHI Vestas has signed a conditional agreement with Mitsubishi Electric Europe B.V. and Taiwanese Shihlin Electric Co. for providing high voltage switchgear components by 2022 for the local market.

Segmentation Table

Global Switchgear Market Scope

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Historical Period 2016-2018

Unit Value (USD Billion)

SegmentationBy Insulation

Gas

Air

Oil

Vacuum

By Voltage

Low

Medium

High

By Installation

Indoor

Outdoor

By End-User

T&D Utility

Industrial

Commercial & Residential

By Geography

North America (U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)

Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

The Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)


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Table of Contents

190 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on the Switchgear Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments by Industry Players in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Switchgear Market Analysis (USD Billion), Insights and Forecast, 2016-2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Insulation
6.2.1. Gas
6.2.2. Air
6.2.3. Oil
6.2.4. Vacuum
6.3. Market Analysis, Insights and Forecast – By Voltage
6.3.1. Low
6.3.2. Medium
6.3.3. High
6.4. Market Analysis, Insights and Forecast – By Installation
6.4.1. Indoor
6.4.2. Outdoor
6.5. Market Analysis, Insights and Forecast – By End-User
6.5.1. T&D Utility
6.5.2. Industrial
6.5.3. Commercial & Residential
6.6. Market Analysis, Insights and Forecast – By Region
6.6.1. North America
6.6.2. Latin America
6.6.3. Europe
6.6.4. Asia Pacific
6.6.5. Middle East and Africa
7. North America Switchgear Market Analysis (USD Billion), Insights and Forecast, 2016-2027
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Insulation
7.2.1. Gas
7.2.2. Air
7.2.3. Oil
7.2.4. Vacuum
7.3. Market Analysis, Insights and Forecast – By Voltage
7.3.1. Low
7.3.2. Medium
7.3.3. High
7.4. Market Analysis, Insights and Forecast – By Installation
7.4.1. Indoor
7.4.2. Outdoor
7.5. Market Analysis, Insights and Forecast – By End-User
7.5.1. T&D Utility
7.5.2. Industrial
7.5.3. Commercial & Residential
7.6. Market Analysis, Insights and Forecast – By Country
7.6.1. U.S.
7.6.2. Canada
8. Latin America Switchgear Market Analysis (USD Billion), Insights and Forecast, 2016-2027
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Insulation
8.2.1. Gas
8.2.2. Air
8.2.3. Oil
8.2.4. Vacuum
8.3. Market Analysis, Insights and Forecast – By Voltage
8.3.1. Low
8.3.2. Medium
8.3.3. High
8.4. Market Analysis, Insights and Forecast – By Installation
8.4.1. Indoor
8.4.2. Outdoor
8.5. Market Analysis, Insights and Forecast – By End-User
8.5.1. T&D Utility
8.5.2. Industrial
8.5.3. Commercial & Residential
8.6. Insights and Forecast – By Country
8.6.1. Brazil
8.6.2. Mexico
8.6.3. Rest of Latin America
9. Europe Switchgear Market Analysis (USD Billion), Insights and Forecast, 2016-2027
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Insulation
9.2.1. Gas
9.2.2. Air
9.2.3. Oil
9.2.4. Vacuum
9.3. Market Analysis, Insights and Forecast – By Voltage
9.3.1. Low
9.3.2. Medium
9.3.3. High
9.4. Market Analysis, Insights and Forecast – By Installation
9.4.1. Indoor
9.4.2. Outdoor
9.5. Market Analysis, Insights and Forecast – By End-User
9.5.1. T&D Utility
9.5.2. Industrial
9.5.3. Commercial & Residential
9.6. Market Analysis, Insights and Forecast – By Country
9.6.1. U.K.
9.6.2. Germany
9.6.3. France
9.6.4. Italy
9.6.5. Spain
9.6.6. Rest of Europe
10. Asia Pacific Switchgear Market Analysis (USD Billion), Insights and Forecast, 2016-2027
10.1. Key Findings / Summary
10.2. Market Analysis, Insights and Forecast – By Insulation
10.2.1. Gas
10.2.2. Air
10.2.3. Oil
10.2.4. Vacuum
10.3. Market Analysis, Insights and Forecast – By Voltage
10.3.1. Low
10.3.2. Medium
10.3.3. High
10.4. Market Analysis, Insights and Forecast – By Installation
10.4.1. Indoor
10.4.2. Outdoor
10.5. Market Analysis, Insights and Forecast – By End-User
10.5.1. T&D Utility
10.5.2. Industrial
10.5.3. Commercial & Residential
10.6. Market Analysis, Insights and Forecast – By Country
10.6.1. China
10.6.2. India
10.6.3. Japan
10.6.4. Australia
10.6.5. South East Asia
10.6.6. Rest of Asia Pacific
11. Middle East & Africa Switchgear Market Analysis (USD Billion), Insights and Forecast, 2016-2027
11.1. Key Findings / Summary
11.2. Market Analysis, Insights and Forecast – By Insulation
11.2.1. Gas
11.2.2. Air
11.2.3. Oil
11.2.4. Vacuum
11.3. Market Analysis, Insights and Forecast – By Voltage
11.3.1. Low
11.3.2. Medium
11.3.3. High
11.4. Market Analysis, Insights and Forecast – By Installation
11.4.1. Indoor
11.4.2. Outdoor
11.5. Market Analysis, Insights and Forecast – By End-User
11.5.1. T&D Utility
11.5.2. Industrial
11.5.3. Commercial & Residential
11.6. Market Analysis, Insights and Forecast – By Country
11.6.1. GCC
11.6.2. South Africa
11.6.3. Rest of Middle East & Africa
12. Competitive Analysis
12.1. Company Market Share Analysis, 2019
12.2. Key Industry Developments
12.3. Company Profile
12.3.1. ABB
12.3.1.1. Business Overview
12.3.1.2. Insulation & Service Offering
12.3.1.3. Overall Revenue
12.3.1.4. Geographic Presence
12.3.1.5. Recent Development
12.3.2. Schneider Electric
12.3.2.1. Business Overview
12.3.2.2. Insulation & Service Offering
12.3.2.3. Overall Revenue
12.3.2.4. Geographic Presence
12.3.2.5. Recent Development
12.3.3. Hitachi
12.3.3.1. Business Overview
12.3.3.2. Insulation & Service Offering
12.3.3.3. Overall Revenue
12.3.3.4. Geographic Presence
12.3.3.5. Recent Development
12.3.4. Kirloskar Electric Co. Ltd.
12.3.4.1. Business Overview
12.3.4.2. Insulation & Service Offering
12.3.4.3. Overall Revenue
12.3.4.4. Geographic Presence
12.3.4.5. Recent Development
12.3.5. Hubbell Incorporated
12.3.5.1. Business Overview
12.3.5.2. Insulation & Service Offering
12.3.5.3. Overall Revenue
12.3.5.4. Geographic Presence
12.3.5.5. Recent Development
12.3.6. Mitsubishi Electric
12.3.6.1. Business Overview
12.3.6.2. Insulation & Service Offering
12.3.6.3. Overall Revenue
12.3.6.4. Geographic Presence
12.3.6.5. Recent Development
12.3.7. Siemens Energy
12.3.7.1. Business Overview
12.3.7.2. Insulation & Service Offering
12.3.7.3. Overall Revenue
12.3.7.4. Geographic Presence
12.3.7.5. Recent Development
12.3.8. Toshiba International Corporation
12.3.8.1. Business Overview
12.3.8.2. Insulation & Service Offering
12.3.8.3. Overall Revenue
12.3.8.4. Geographic Presence
12.3.8.5. Recent Development
12.3.9. CG Power and Industrial Solutions Limited
12.3.9.1. Business Overview
12.3.9.2. Insulation & Service Offering
12.3.9.3. Overall Revenue
12.3.9.4. Geographic Presence
12.3.9.5. Recent Development
12.3.10. Fuji Electric Co., LTD.
12.3.10.1. Business Overview
12.3.10.2. Insulation & Service Offering
12.3.10.3. Overall Revenue
12.3.10.4. Geographic Presence
12.3.10.5. Recent Development
12.3.11. Powell
12.3.11.1. Business Overview
12.3.11.2. Insulation & Service Offering
12.3.11.3. Overall Revenue
12.3.11.4. Geographic Presence
12.3.11.5. Recent Development
12.3.12. L&T Electrical & Automation
12.3.12.1. Business Overview
12.3.12.2. Insulation & Service Offering
12.3.12.3. Overall Revenue
12.3.12.4. Geographic Presence
12.3.12.5. Recent Development
12.3.13. HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.
12.3.13.1. Business Overview
12.3.13.2. Insulation & Service Offering
12.3.13.3. Overall Revenue
12.3.13.4. Geographic Presence
12.3.13.5. Recent Development
12.3.14. Hyosung Corporation
12.3.14.1. Business Overview
12.3.14.2. Insulation & Service Offering
12.3.14.3. Overall Revenue
12.3.14.4. Geographic Presence
12.3.14.5. Recent Development
12.3.15. Lucy Electric
12.3.15.1. Business Overview
12.3.15.2. Insulation & Service Offering
12.3.15.3. Overall Revenue
12.3.15.4. Geographic Presence
12.3.15.5. Recent Development
12.3.16. E+I Engineering
12.3.16.1. Business Overview
12.3.16.2. Insulation & Service Offering
12.3.16.3. Overall Revenue
12.3.16.4. Geographic Presence
12.3.16.5. Recent Development

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