Switchgear Market – Global Industry Insights, Market Size Estimation and Growth Forecast By Type (Low Voltage Switchgear, Medium Voltage Switchgear and High Voltage Switchgear), By Insulation (Air, Gas and Others), By End User (Transmission & Distribution Utilities, Process Industries, Manufacturing, Infrastructure and Others), & By Regions, 2017-2025

Report Description

The market for switchgear has been covered under the scope of this report. Switchgears are the electrical systems designed to regulate, control, and protect power transmission and distribution (T & D) equipment, power generation units, and motor control units. Switchgear systems are comprised of circuit breakers, fuses, ring main units (RMUs), and enclosures. For low voltage switchgear, the operating voltage is up to 1 kV. For medium voltage switchgear, the operating voltage is 3 KV to 36 KV. For high voltage switchgear, the operating voltage is more than 36 KV. The global market has been segmented on the basis of type, insulation, end user, and region. It also provides a cross-sectional study of the global switchgear market across broad regional segments such as North America, Europe, Asia-Pacific (APAC), Middle-East & Africa (MEA), and Latin America under its scope. The market is primarily being driven by the rising demand for switchgear in transmission and distribution utilities to ensure safety in electricity distribution and protection of T&D equipment. Furthermore, growing usage of switchgears in residential as well as commercial infrastructure projects and the expansion of electrification projects in emerging economies are also driving the growth of the market.

Market Dynamics

The primary driving factors of the global switchgear market are increasing demand for safe and controlled power transmission in utilities, construction projects, and industries. Renewal of power grids and ageing power transmission and distribution (T&D) networks has surged the demand for switchgear globally. The rising application of medium voltage switchgear in smart grid projects also fueled the growth of the market. Rapid electrification of rural and urban areas in emerging economies is expected to increase the installation of switchgear to ensure a safe and reliable power supply during the forecast period. Considering the positive impacts of the aforementioned factors, the market is expected to experience a high growth rate during the forecast period from 2017–2025.

Scope of the Report

A complete analysis of market dynamics, which includes the market drivers, restraints, and opportunities, is included within the scope of the report. The market dynamics for the different segments, namely type, insulation, and end user, have been covered separately under the purview of the report. Additionally, the country-level trend for each region has also been covered under the scope of the report. Thus, this report provides an exhaustive study of the global switchgear market and also provides a forecast of the market for the period from 2017 to 2025.

High-Level Analysis Covered In the Report

Within the scope of the report on the global market, several high-level analyses have been covered. This includes product-market trend analysis, product life-cycle analysis, Porter’s five forces analysis, and market attractiveness analysis. Key trends analysis discusses the current and upcoming trends in this market. Product life-cycle analysis analyses the current life-cycle stage of the product in the five wide geographic regions, such as whether the product is approaching maturity in a region or whether it is a new entrant, etc. Porter’s five forces analysis provides insights into the competitive scenario with regards to new entrants, substitutes, buyers, and suppliers. To provide a detailed insight into the global switchgear market, attractive analysis has been provided in the report. The market attractiveness analysis details the investment attractiveness by each type of insulation, end user, and geography.

Market Segmentation Overview

Market by Type

Based on type, the global switchgear market has been segmented into low voltage switchgear, medium voltage switchgear and high voltage switchgear. Low voltage switchgear contributed largest share in the market owing to high volume application in utilities and infrastructure projects.

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

by Insulation

Based on insulation, the switchgear market has been segmented into air, gas and others.  In terms of revenue and volume, air insulated switchgear was the market leader in 2016. The growing application of air insulated switchgear in low voltage T&D network and electrification projects in utilities were instrumental in gaining the leading position of this segment.

• Air
• Gas
• Others

by End User

By end user, the market has been divided into transmission & distribution utilities, process industries, manufacturing, infrastructure and others. In terms of both revenue and volume, transmission & distribution utilities were the largest end use industry in 2016.

• Transmission & Distribution Utilities
• Process Industries
• Manufacturing
• Infrastructure
• Others

by Regions

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The U.K
  • Scandinavia + CIS
  • Rest of the Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Rest of the Asia Pacific
• Middle-East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • United Arab Emirates (UAE)
  • Rest of the MEA
• Latin America
  • Brazil
  • Mexico
  • Rest of the Latin America

Competitive Profiling

The competitive profiling of the key players in the global switchgear market and their business segments has been exhaustively covered under the purview of the study. Moreover, key business strategies adopted by the leading players in the market have also been covered under the scope of the report.

Major Players in the Switchgear Market

Some major players in the market are: Schneider Electric SE (France), ABB Ltd. (Switzerland), General Electric (The U.S.), Siemens AG (Germany), Crompton Greaves (India), Hyundai Heavy Industries Co., Ltd. (South Korea), Chint Group (China), Hitachi Ltd. (Japan), Mitsubishi Electric Corporation  (Japan) and Powell Industries Inc.  (The U.S.) among others.

Regional Outlook

Switchgear market has been further segmented into five broad geographic regions, namely North America, Europe, Asia Pacific (APAC), Middle-East & Africa (MEA) and Latin America. Asia Pacific occupied the largest share of the market in 2016. The large market share can be attributed to high consumption of low and medium voltage switchgear in this region.