HV Switchgear - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global HV Switchgear Market is accounted for $10.65 billion in 2017 and is expected to reach $18.93 billion by 2026 growing at a CAGR of 6.6% during the forecast period. Increase in government initiatives for the modernization of existing transmission and distribution network is expected to propel demand for high-voltage switchgears during the forecast period. However, high installation costs might restrain the expansion of the global high voltage switchgear market.
HV Switchgear is the integral part of the power network system right from generation to transmission & distribution in the power market. Switchgear ensures switching of the equipment and circuits in a power system when there is a condition of fault. The basic function of switchgear is to trip the electric power and to protect the equipment in the event of abnormal conditions such as a short circuit or when the operational parameters vary from the normal. Switchgear comprises of circuit breaker, current transformer, voltage transformer, protection relay, measuring instrument, electrical switch, electrical fuse, miniature circuit breaker, lightening arrestor or surge arrestor, electrical isolator and other associated equipment. Different voltage levels have different fault levels hence various types of switchgear assemblies are offered depending on the type of voltages and applications.
Based on type, Gas-insulated switchgears have several benefits over air-insulated switchgears and are expected to be the most preferred switchgear across the world. By Geography, Asia-Pacific is constantly enhancing due to the growing industrialization and urbanization in the HV Switchgear market.
Some of the key players profiled in the HV Switchgear market include Mitsubishi Electric Systems, Schneider Electric, Toshiba, ABB, GE, Siemens AG, Larson & Turbo, Hitachi Ltd., Crompton Greaves, Hubbell, Powell Industries, BHEL, Hyosung, Rittal, Hyundai Ideal Electric Co. and Meidensha Corporation.
• Air Insulated
• Gas Insulated
• Oil Insulated
• Other Types
• American National Standards Institute (ANSI) Standard
• International Electrotechnical Commission (IEC) Standard
• Other Standards
• Circuit Breaker
• Measuring Instruments
• Other Components
• Air-Insulated Switchgears
• Gas-Insulated Switchgears
• Other Insulations
• Infrastructure Development
• Oil & Gas
• Power Generation
• Processing & Manufacturing
• Transmission & Distribution
• Utilities Sector
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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