Press release
Switchgear Market Value To Cross $88.5 Billion by 2025 | Top Companies are Schneider Electric, Siemens AG, ABB, General Electric, Eaton
According to the latest report 'The switchgear market size will grow to USD 88.5 billion by 2025 (forecast year) from USD 67.5 billion in 2020 (estimated year), at a post COVID-19 CAGR of 5.5% during the forecast period.'
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html
Replacement of aging infrastructure in North America, along with upgradation of existing substations due to rising electricity demand in Europe and Asia Pacific are the driving factors for the switchgear market, globally. Switchgear is required to connect the power generating stations to switchyards and the electrical grid. It is one of the most important and critical components in an electrical system. It includes all the devices that ensure power system protection and regulate power supply. Switchgear de-energizes equipment and clears faults in the system, thereby ensuring a reliable power supply. Growing concerns over the reliability of renewable power have boosted the market for renewable generation and distribution, in turn, driving the global switchgear market.
The air insulated switchgear segment is expected to dominate the switchgear market, by insulation type, during the forecast period.
Air insulated switchgear are among the common type of medium-voltage switchgears that are used these days. They are a combination of electrical disconnector switches, circuit breakers, and earth switches that are used to control, isolate, and protect electrical equipment using air as its insulating medium. AISs are relatively cost-effective, pollution-free, simple construction, and easy to maintain than gas insulated switchgear. They are used in transmission & distribution, manufacturing and processing, infrastructure and transportation, oil & gas, and other industries. They are used in transmission & distribution, manufacturing and processing, infrastructure and transportation, oil & gas, and other industries. The companies offering AIS are ABB, Siemens, Eaton, and GE.
Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1162268
The research report categorizes the switchgear market into the following segments and subsegments:
Based on Insulation
AIS
GIS
Based on the voltage:
36 kV
Based on the end-user:
T&D Utilities
Industries
Commercial & Residential
Ohers
By Region
North America
Asia Pacific
South America
Europe
Middle East & Africa
The indoor segment is expected to lead the switchgear market, by installation, during the forecast period.
An indoor switchgear is generally of metal-clad type. In this type of construction, all live parts are completely enclosed in an earthed metal casing. A medium-voltage switchgear is primarily installed indoor. The application of indoor switchgears includes power generation and distribution, infrastructure, transportation, manufacturing, oil & gas, mining, and marine. . The renewable sector is also assisting the growth of indoor switchgears, with many solar and wind power plant projects deploying indoor switchgears as an integral part of their power generation and distribution network.
Asia Pacific likely to emerge as the largest switchgear market
The region has been segmented, by country, into China, Japan, India, Australia, and Rest of Asia Pacific. Increasing T&D network expansion and industrialization projects in emerging countries such as India and China are some of the key factors responsible for the growth of the switchgear market. As per the Indian Electrical and Electronics Manufacturer Association (IEEMA), the electricity generation capacity is expected to increase from 200 GW in 2010 to over 800 GW by 2032 to fulfill the increasing demand of customers. Thus, there is a need for a huge investment of approximately USD 300 billion in the next 3-4 years. Also, India is undertaking a lot of smart grid and substation projects to fulfill the growing demand for energy. This would create demand for the switchgear market in the region. However, COVID-19 is expected to have a drastic impact on the market. Also, according to the OECD report on COVID-19, the electric power industry in China has witnessed a 3.6% deviation from the benchmark set in the year 2019. This will definitely have an impact, creating a decline in the demand for switchgears.
Request for FREE Sample Pages of the Report - https://www.marketsandmarkets.com/requestsampleNew.asp?id=1162268
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the switchgear market. Some of the key players are Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Eaton (Ireland). The leading players are adopting various strategies to increase their shares in the switchgear market.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html
Replacement of aging infrastructure in North America, along with upgradation of existing substations due to rising electricity demand in Europe and Asia Pacific are the driving factors for the switchgear market, globally. Switchgear is required to connect the power generating stations to switchyards and the electrical grid. It is one of the most important and critical components in an electrical system. It includes all the devices that ensure power system protection and regulate power supply. Switchgear de-energizes equipment and clears faults in the system, thereby ensuring a reliable power supply. Growing concerns over the reliability of renewable power have boosted the market for renewable generation and distribution, in turn, driving the global switchgear market.
The air insulated switchgear segment is expected to dominate the switchgear market, by insulation type, during the forecast period.
Air insulated switchgear are among the common type of medium-voltage switchgears that are used these days. They are a combination of electrical disconnector switches, circuit breakers, and earth switches that are used to control, isolate, and protect electrical equipment using air as its insulating medium. AISs are relatively cost-effective, pollution-free, simple construction, and easy to maintain than gas insulated switchgear. They are used in transmission & distribution, manufacturing and processing, infrastructure and transportation, oil & gas, and other industries. They are used in transmission & distribution, manufacturing and processing, infrastructure and transportation, oil & gas, and other industries. The companies offering AIS are ABB, Siemens, Eaton, and GE.
Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1162268
The research report categorizes the switchgear market into the following segments and subsegments:
Based on Insulation
AIS
GIS
Based on the voltage:
36 kV
Based on the end-user:
T&D Utilities
Industries
Commercial & Residential
Ohers
By Region
North America
Asia Pacific
South America
Europe
Middle East & Africa
The indoor segment is expected to lead the switchgear market, by installation, during the forecast period.
An indoor switchgear is generally of metal-clad type. In this type of construction, all live parts are completely enclosed in an earthed metal casing. A medium-voltage switchgear is primarily installed indoor. The application of indoor switchgears includes power generation and distribution, infrastructure, transportation, manufacturing, oil & gas, mining, and marine. . The renewable sector is also assisting the growth of indoor switchgears, with many solar and wind power plant projects deploying indoor switchgears as an integral part of their power generation and distribution network.
Asia Pacific likely to emerge as the largest switchgear market
The region has been segmented, by country, into China, Japan, India, Australia, and Rest of Asia Pacific. Increasing T&D network expansion and industrialization projects in emerging countries such as India and China are some of the key factors responsible for the growth of the switchgear market. As per the Indian Electrical and Electronics Manufacturer Association (IEEMA), the electricity generation capacity is expected to increase from 200 GW in 2010 to over 800 GW by 2032 to fulfill the increasing demand of customers. Thus, there is a need for a huge investment of approximately USD 300 billion in the next 3-4 years. Also, India is undertaking a lot of smart grid and substation projects to fulfill the growing demand for energy. This would create demand for the switchgear market in the region. However, COVID-19 is expected to have a drastic impact on the market. Also, according to the OECD report on COVID-19, the electric power industry in China has witnessed a 3.6% deviation from the benchmark set in the year 2019. This will definitely have an impact, creating a decline in the demand for switchgears.
Request for FREE Sample Pages of the Report - https://www.marketsandmarkets.com/requestsampleNew.asp?id=1162268
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the switchgear market. Some of the key players are Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Eaton (Ireland). The leading players are adopting various strategies to increase their shares in the switchgear market.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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