Press release
Medium Voltage Switchgear Market Trends - 2031
Medium voltage switchgear is a critical component of electrical power distribution systems that handles electrical power at medium voltage levels, typically between 1 kV (kilovolt) and 36 kV. It is an essential element in power substations, industrial facilities, commercial buildings, and other applications where electrical power needs to be controlled and distributed safely and efficiently.
The medium voltage switchgear market size was valued at $14.5 billion in 2021, and medium voltage switchgear industry is estimated to reach $31.7 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.
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Medium voltage switchgear is designed and manufactured to meet strict safety standards and regulations to ensure reliable and safe operation. Regular maintenance and periodic testing are essential to ensure its proper functioning and safety. It plays a crucial role in maintaining a reliable and efficient electrical power distribution system and is a critical component in the overall power grid infrastructure.
The key players operating in the medium voltage switchgear market are ABB Ltd, General Electrics, Schneider Electrics, Siemens AG, Toshiba Corporation, Mitsubishi Electrics, Eaton Corporation, Bharat Heavy Electrical Ltd., Chint group, Efacec, Fuji Electric Co. Ltd., Hyundai Electric & Energy Systems Co. Ltd., Jyoti group, Ormazabel, Power Well Inc. and LUCY group Ltd.
On the basis of voltage, the 3kV - 5kV medium voltage switchgear segment is projected to grow at the highest CAGR of approximately 9.1%, in terms of revenue, during the forecast period.
On the current type, the AC segment is expected to dominate the market during the forecast period.
On the basis of insulation type, the air insulated switchgear segment is expected to dominate the market during the forecast period.
On the basis of application, the transmission and distribution utilities segment is expected to dominate the medium voltage switchgear market share during the forecast period.
On the basis of region, the Asia-Pacific segment is projected to grow at the highest CAGR of approximately 8.8%, in terms of revenue, during the forecast period.
On the basis of voltage, the market is classified into 3kV - 5kV, 6kV - 15kV, 16kV - 27kV and 28kV - 40kV. Similarly on the basis of installation type, the medium voltage switchgear market is divided into two major categories which include indoor switchgear and outdoor switchgear.
The medium voltage switchgear market is classified by insulation type into three categories which include air insulated switchgear, gas insulated switchgear and others (oil and solids).
Depending on the end use industry, the market is broadly divided into three types which are transmission and digital utilities, commercial & residential and others.
Buy This Report (480 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/41tcd4m
Air-Insulated Switchgear (AIS): In AIS, the insulation between live parts is provided by air. It is commonly used for indoor applications and in areas where space is not a constraint.
Gas-Insulated Switchgear (GIS): GIS uses sulfur hexafluoride (SF6) gas as the insulating medium. It offers higher reliability and compactness, making it suitable for locations with limited space and high population density.
Metal-Enclosed Switchgear: In this design, the switching and interrupting devices are enclosed in metal compartments. It is widely used in industrial applications and outdoor installations due to its robustness.
Ring Main Unit (RMU): RMUs are compact, fully enclosed switchgear used for secondary distribution networks, often in urban areas or densely populated regions.
Domestic and industrial power demand is increasing significantly due to urbanization, public infrastructure, and the construction of industrial plants around the world which has led to the increased demand for the medium voltage switchgear market opportunities.
Impact of Covid-19 on Medium Voltage Switchgear Market
The COVID-19 outbreak has moderately affected the medium voltage switchgear market due to lockdown measures, the closure of various manufacturing and industrial facilities, and the delay of several infrastructure projects. It had a negative impact on different industries like automobile, aerospace, transportation and construction. The commercial, residential and industrial projects were put on hold due to the strict regulations imposed by the government.
The transportation sector has halted due to the pandemic which caused the stoppage of raw materials required for the manufacturing of the switchgears. Also the reduced manpower has delayed the production process due to the limited number of labor allowed to work.
Browse Complete Report @ https://www.alliedmarketresearch.com/medium-voltage-switchgear-market-A31300
A medium voltage switchgear is a device designed to open an electrical circuit by mechanical action. It interrupts the flow of current without permanently damaging the device operating in the voltage range of 3kV-40kV. Switchgear includes, for example, switches, fuses, circuit breakers, disconnectors, relays, current and potential converters, indicators, lightning arresters and control cabinets.
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David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesUSA/Canada (Toll Free):+1-800-792-5285, +1-503-894-6022UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: +1(855)550-5975help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog:
https://blog.alliedmarketresearch.com
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
The medium voltage switchgear market size was valued at $14.5 billion in 2021, and medium voltage switchgear industry is estimated to reach $31.7 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.
Get Free Sample PDF @ https://www.alliedmarketresearch.com/request-sample/31750
Medium voltage switchgear is designed and manufactured to meet strict safety standards and regulations to ensure reliable and safe operation. Regular maintenance and periodic testing are essential to ensure its proper functioning and safety. It plays a crucial role in maintaining a reliable and efficient electrical power distribution system and is a critical component in the overall power grid infrastructure.
The key players operating in the medium voltage switchgear market are ABB Ltd, General Electrics, Schneider Electrics, Siemens AG, Toshiba Corporation, Mitsubishi Electrics, Eaton Corporation, Bharat Heavy Electrical Ltd., Chint group, Efacec, Fuji Electric Co. Ltd., Hyundai Electric & Energy Systems Co. Ltd., Jyoti group, Ormazabel, Power Well Inc. and LUCY group Ltd.
On the basis of voltage, the 3kV - 5kV medium voltage switchgear segment is projected to grow at the highest CAGR of approximately 9.1%, in terms of revenue, during the forecast period.
On the current type, the AC segment is expected to dominate the market during the forecast period.
On the basis of insulation type, the air insulated switchgear segment is expected to dominate the market during the forecast period.
On the basis of application, the transmission and distribution utilities segment is expected to dominate the medium voltage switchgear market share during the forecast period.
On the basis of region, the Asia-Pacific segment is projected to grow at the highest CAGR of approximately 8.8%, in terms of revenue, during the forecast period.
On the basis of voltage, the market is classified into 3kV - 5kV, 6kV - 15kV, 16kV - 27kV and 28kV - 40kV. Similarly on the basis of installation type, the medium voltage switchgear market is divided into two major categories which include indoor switchgear and outdoor switchgear.
The medium voltage switchgear market is classified by insulation type into three categories which include air insulated switchgear, gas insulated switchgear and others (oil and solids).
Depending on the end use industry, the market is broadly divided into three types which are transmission and digital utilities, commercial & residential and others.
Buy This Report (480 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/41tcd4m
Air-Insulated Switchgear (AIS): In AIS, the insulation between live parts is provided by air. It is commonly used for indoor applications and in areas where space is not a constraint.
Gas-Insulated Switchgear (GIS): GIS uses sulfur hexafluoride (SF6) gas as the insulating medium. It offers higher reliability and compactness, making it suitable for locations with limited space and high population density.
Metal-Enclosed Switchgear: In this design, the switching and interrupting devices are enclosed in metal compartments. It is widely used in industrial applications and outdoor installations due to its robustness.
Ring Main Unit (RMU): RMUs are compact, fully enclosed switchgear used for secondary distribution networks, often in urban areas or densely populated regions.
Domestic and industrial power demand is increasing significantly due to urbanization, public infrastructure, and the construction of industrial plants around the world which has led to the increased demand for the medium voltage switchgear market opportunities.
Impact of Covid-19 on Medium Voltage Switchgear Market
The COVID-19 outbreak has moderately affected the medium voltage switchgear market due to lockdown measures, the closure of various manufacturing and industrial facilities, and the delay of several infrastructure projects. It had a negative impact on different industries like automobile, aerospace, transportation and construction. The commercial, residential and industrial projects were put on hold due to the strict regulations imposed by the government.
The transportation sector has halted due to the pandemic which caused the stoppage of raw materials required for the manufacturing of the switchgears. Also the reduced manpower has delayed the production process due to the limited number of labor allowed to work.
Browse Complete Report @ https://www.alliedmarketresearch.com/medium-voltage-switchgear-market-A31300
A medium voltage switchgear is a device designed to open an electrical circuit by mechanical action. It interrupts the flow of current without permanently damaging the device operating in the voltage range of 3kV-40kV. Switchgear includes, for example, switches, fuses, circuit breakers, disconnectors, relays, current and potential converters, indicators, lightning arresters and control cabinets.
Similar Reports:-
Surge Arrester Market by Material (Polymeric, Porcelain), by Voltage Range (Low, Medium, High), by End User (Industrial, Commercial, Residential): Global Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/surge-arrester-market-A06063
Capacitor Bank Market by Voltage (Low [69 Kv]), Type (Externally Fused, Internally Fused, And Fuseless), Installation (Pole Mounted, Open Air Substation, Metal Enclosed Substation, and Other), Connection Type (Star Connection and Delta Connection), Application (Power Factor Correction, Industrial, Harmonic Filter, And Others), And Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031
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David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesUSA/Canada (Toll Free):+1-800-792-5285, +1-503-894-6022UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: +1(855)550-5975help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog:
https://blog.alliedmarketresearch.com
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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