Global Switchgear Market is Expected To Grow At 6.5% Compound Annual Growth Rate (CAGR), by Revenue, and 5.5% CAGR, by Volume, from 2017 – 2025; Factor & Equilibrium

Global Switchgear Market Report Code: SE-101-092617 | Category: Semiconductors and Electronics

Format: pdf file icon excel file icon | No. of Slides: 158 | No. of Figures: 62 | No. of Tables: 43


Rising Demand for Safety and Control of Transmission & Distribution Networks is Fuelling the Growth of the global switchgear Market.


As per a new market research report published by Factor & Equilibrium (www.factorandequilibrium.com), “Global Switchgear Market – 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” is expected to reach USD 137.70 Billion by 2025 in terms of revenue. In 2016, the market was valued USD 78.30 Billion in terms of revenue. In terms of volume, switchgear market size was 2,550.1 Thousand Units in 2016 and expected to reach 4,135.7 Thousand Units by 2025.

Global Switchgear Market Size
Switchgear Market Size By Geography

 

Browse 43 Data Tables and 62 Figures in the full report at https://www.factorandequilibrium.com/market-report/switchgear-market-size

 

Global Switchgear Market Overview

The Global Switchgear Market is expected to grow at a high rate during 2017 to 2025. Switchgear is switching devices associated for controlling, metering and regulating electrical power system. Switchgear systems are composed of different electrical instruments such as circuit breakers, fuses, enclosures, ring main unit (RMU) and busbars among others. In order to ensure safety and control of power distribution, switchgear system is placed as important part in transmission and distribution (T&D) network. Renewal of ageing T&D network in many European countries and in China has created the demand for switchgear in this region. In 2017, Latvian transmission system operator (TSO) Augstsprieguma Tīkls AS announced an investment of €445 million to upgrade its high-voltage transmission lines in next 10 years. In addition, rapid electrification in urban as well as rural areas in Asian Countries has increased demand for switchgear in transmission & distribution utilities. According to data published by power ministry’s Grameen Vidyutikaran (GARV), 13,523 villages have been electrified in India during the period of 2015 to 2017.

Global Switchgear Market Revenue Share
Global Switchgear Market Revenue Share By Geography

Rising demand for switchgear in transmission & distribution utilities has been boosting the growth of the market.

 

Segmentation Overview

Based on the type, the global switchgear market has been segmented into low-voltage switchgear, medium voltage switchgear, and high voltage switchgear. Owing to growing use in electrification projects across Asia Pacific and rising demand for low voltage power distribution in industries, low voltage switchgear had the largest share in the market. Low voltage switchgear market is expected to exceed USD 60 Billion by 2025.

In terms of both revenue and volume, low voltage switchgear was the largest type in switchgear market in 2016.

Based on insulation, the switchgear market has been segmented into air, gas, and others. Owing to wide applications in low voltage power distribution network and growing use in residential as well as commercial infrastructure projects, air-insulated switchgear had the largest share in the switchgear market size in 2016. Volume demand of air-insulated switchgear is expected to exceed 2,000 Thousand Units by 2025.

In terms of both revenue and volume, the air was the largest insulation medium for switchgear market in 2016.

By end-user, the market has been divided into transmission & distribution utilities, process industries, manufacturing, infrastructure and others. Transmission & distribution utilities as the end-user market are growing owing to rapid electrification in emerging economies, up-gradation of the power grid and rising demand of switchgear in smart grid projects. As of 2016, in terms of revenue, transmission & distribution utilities held more than 45% share of the market.

In terms of both revenue and volume, transmission & distribution utilities was the largest end-user segment for switchgear market in 2016.

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Regional Overview

By region, the global switchgear market has been segmented into five regions; North America, Europe, Asia Pacific (APAC), Middle-East & Africa (MEA), and Latin America. In 2016, Asia Pacific occupied the largest revenue and volume share, accounting for more than 35% of the switchgear market size. The large market share is attributed to the high demand of switchgear in the utility sector and growing demand of low voltage switchgear in commercial and residential infrastructure projects.

Asia Pacific occupied the largest revenue and volume share of the market.
 

Switchgear manufacturing companies - Leading Player Mapping

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.

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The market has been segmented as follows:

Switchgear Market, by Type

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

Switchgear Market, by Insulation

  • Air
  • Gas
  • Others

Switchgear Market, by End User

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

Switchgear Market, by Region:

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

 

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