Switchgear Market
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PUBLISHED: 2022 ID: SMRC21662
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Switchgear Market Forecasts to 2028 - Global Analysis By Insulation (Vacuum, Oil, Gas), Current (DC AC ), Voltage (Low (up to 1 kV), Medium (2-36 kV), High (Above 36 kV)), Installation (Outdoor, Indoor) and By Geography

4.3 (56 reviews)
4.3 (56 reviews)
Published: 2022 ID: SMRC21662

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Switchgear Market is accounted for $96.15 billion in 2022 and is expected to reach $150.06 billion by 2028 growing at a CAGR of 7.7% during the forecast period. Switchgear is a broad term that describes a wide variety of switching devices that all fulfill a common need: controlling, protecting, and isolating power systems. A switchgear controls the voltage fluctuations of a building and prevents sudden supply breakdown.

Increasing investments to develop renewable energy and favorable norms of the governments to support the new technology, are anticipated to foster the industry landscape. According to IEA’s World Energy Investment Report 2019, the global energy investment stabilized at over USD 1.8 trillion in 2018, with more spending in upstream oil and gas and coal supply, offset by lower spending fossil-fuel-based generation and renewable power.

Market Dynamics:

Driver:

Rising investments in the up gradation of old infrastructure

The old power infrastructure results in the frequent power outages. The power outages cost around billion to the American businesses each year. The continuous power supply can be ensured by deploying modern and efficient power infrastructure that can minimize the energy losses. Therefore, with the growing need for uninterrupted power supply, the investments in the up gradation of the power infrastructure are rising significantly, which is expected to drive the market growth.

Restraint:

High Cost

In protecting the electric equipment from the irregular ups and downs in the power supply, the switchgear plays a crucial role. Furthermore, the switchgear involves several components such as fuses, circuit breakers, switches, control panels, and protective relays which involve high costs. Hence, the high cost of it is a major restraining factor that may hinder the growth of the market.

Opportunity:

Government outlines to incentivize the distributors

The government has set certain standards that ensure the regular and efficient power supply to the end users. The distributors are incentivized to meet the established standards and targets. Therefore, the numerous government schemes to incentivize the distributors is expected to create ample opportunities for the growth of the market in the forthcoming years.

Threat:

Shortage of electrification

The lack of proper infrastructure and electrification in the rural areas of the developing and the underdeveloped nations results in the low demand for the switchgear. This is a major threat faced by the manufacturers and it restricts the market growth.

Medium (2–36 kV) segment is expected to be the largest during the forecast period

Medium voltage switchgear market segment dominates the global switchgear market, owing to rapid growth in industrialization of small and medium scales in developing countries like China, India and Japan is expected to propel demand for the segment in the market. For instance, Ever Source Energy declared an investment towards refurbishment of transmission networks across the U.S. Power is usually produced at a medium-voltage level and is then stepped up to higher voltage for transportation over longer distance. As the number of generation units increases, the number of medium-voltage switchgears used also rise in generation.

The Transmission & Distribution Utilities segment is expected to have the highest CAGR during the forecast period

The transmission & distribution utilities segment is projected to grow at the highest rate. This is owing to the growing investments in sub-station automation, modernization of electric grid, and smart utilities (smart grids and smart meters). For instances, Blackstone Group LP declared an investment towards the refurbishment of aging infrastructure across the U.S. The investment is backed by the Saudi Arabia Public Investment Fund under the Strategic and Policy Forum.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, due to the presence of a large number of companies, has introduced competitive pricing pressure in the market. The, governments of India and China have announced several initiatives to improve grid connectivity in remote locations. Growth of the power distribution equipment industry in the developing provinces is being driven by the upgrades and expansion of the electrification infrastructure and the demand for industrial (electrical network in industrial plants) and residential (power supply system of buildings) electric utilities which in turn propel the growth of the market in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR, owing to various factors like need for grid modernization, replacement of old installations and renewable power generation. Moreover, the increased proliferation of renewable energy projects in the region driving the market growth. Additionally, the stringent government regulation pertaining to the adoption of green and clean energy is boosting the market growth.

Key players in the market:

Some of the key players profiled in the Switchgear Market include Xian XD, Siemens , Schneider Electric, Powell Industries Inc., Mitsubishi Electric, Hyosung Power and Industrial Systems, GE, Eaton, Crompton Greaves, BHEL, Alstom Grid, ABB Ltd.

Key developments:

In January 2022: ABB partnered with Samsung Electronics to provide jointly developed technologies for energy savings, energy management, and smart Internet of Things (IoT) connections for both residential and commercial buildings.

In April 2020: ABB announced that it invested in the expansion of its switchgear portfolio comprising UniGear medium-voltage. Also in January 2020, Siemens AG completed the acquisition of New Delhi-based switchgear and power equipment manufacturer C&S Electric Limited for approximately EUR 267 million.

In July 2019: Eaton announced to acquire the U.S. based Innovative Switchgear Solutions, Inc. to introduce advanced medium voltage products in North America. This acquisition would help customers with compact, low maintenance, and highly configurable solutions.

Insulations Covered:
• Vacuum
• Oil
• Gas
• Air
• Other Insulations

Currents Covered:
• DC
• AC

Voltages Covered:
• Low (up to 1 kV)
• Medium (2–36 kV)
• High (Above 36 kV)

Installations Covered:
• Outdoor
• Indoor

Products Covered:
• Conventional Switchgear
• Modular/Integrated Switchgear

End Users Covered:
• Transmission & Distribution Utilities
• Manufacturing and Process Industries
• Commercial and Residential Infrastructure

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Switchgear Market, By Insulation
5.1 Introduction
5.2 Vacuum
5.3 Oil
5.4 Gas
5.5 Air
5.6 Other Insulations

6 Global Switchgear Market, By Current
6.1 Introduction
6.2 DC
6.3 AC

7 Global Switchgear Market, By Voltage
7.1 Introduction
7.2 Low (up to 1 kV)
7.3 Medium (2–36 kV)
7.4 High (Above 36 kV)

8 Global Switchgear Market, By Installation
8.1 Introduction
8.2 Outdoor
8.3 Indoor

9 Global Switchgear Market, By Product
9.1 Introduction
9.2 Conventional Switchgear
9.3 Modular/Integrated Switchgear

10 Global Switchgear Market, By End User
10.1 Introduction
10.2 Transmission & Distribution Utilities
10.3 Manufacturing and Process Industries
10.4 Commercial and Residential Infrastructure

11 Global Switchgear Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa

12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies

13 Company Profiling
13.1 Xian XD
13.2 Siemens
13.3 Schneider Electric
13.4 Powell Industries Inc.
13.5 Mitsubishi Electric
13.6 Hyosung Power and Industrial Systems
13.7 GE
13.8 Eaton
13.9 Crompton Greaves
13.10 BHEL
13.11 Alstom Grid
13.12 ABB Ltd

List of Tables
1 Global Switchgear Market Outlook, By Region (2020-2028) (US $MN)
2 Global Switchgear Market Outlook, By Insulation (2020-2028) (US $MN)
3 Global Switchgear Market Outlook, By Vacuum (2020-2028) (US $MN)
4 Global Switchgear Market Outlook, By Oil (2020-2028) (US $MN)
5 Global Switchgear Market Outlook, By Gas (2020-2028) (US $MN)
6 Global Switchgear Market Outlook, By Air (2020-2028) (US $MN)
7 Global Switchgear Market Outlook, By Other Insulations (2020-2028) (US $MN)
8 Global Switchgear Market Outlook, By Current (2020-2028) (US $MN)
9 Global Switchgear Market Outlook, By DC (2020-2028) (US $MN)
10 Global Switchgear Market Outlook, By AC (2020-2028) (US $MN)
11 Global Switchgear Market Outlook, By Voltage (2020-2028) (US $MN)
12 Global Switchgear Market Outlook, By Low (up to 1 kV) (2020-2028) (US $MN)
13 Global Switchgear Market Outlook, By Medium (2–36 kV) (2020-2028) (US $MN)
14 Global Switchgear Market Outlook, By High (Above 36 kV) (2020-2028) (US $MN)
15 Global Switchgear Market Outlook, By Installation (2020-2028) (US $MN)
16 Global Switchgear Market Outlook, By Outdoor (2020-2028) (US $MN)
17 Global Switchgear Market Outlook, By Indoor (2020-2028) (US $MN)
18 Global Switchgear Market Outlook, By Product (2020-2028) (US $MN)
19 Global Switchgear Market Outlook, By Conventional Switchgear (2020-2028) (US $MN)
20 Global Switchgear Market Outlook, By Modular/Integrated Switchgear (2020-2028) (US $MN)
21 Global Switchgear Market Outlook, By End User (2020-2028) (US $MN)
22 Global Switchgear Market Outlook, By Transmission & Distribution Utilities (2020-2028) (US $MN)
23 Global Switchgear Market Outlook, By Manufacturing and Process Industries (2020-2028) (US $MN)
24 Global Switchgear Market Outlook, By Commercial and Residential Infrastructure (2020-2028) (US $MN)
25 North America Switchgear Market Outlook, By Country (2020-2028) (US $MN)
26 North America Switchgear Market Outlook, By Insulation (2020-2028) (US $MN)
27 North America Switchgear Market Outlook, By Vacuum (2020-2028) (US $MN)
28 North America Switchgear Market Outlook, By Oil (2020-2028) (US $MN)
29 North America Switchgear Market Outlook, By Gas (2020-2028) (US $MN)
30 North America Switchgear Market Outlook, By Air (2020-2028) (US $MN)
31 North America Switchgear Market Outlook, By Other Insulations (2020-2028) (US $MN)
32 North America Switchgear Market Outlook, By Current (2020-2028) (US $MN)
33 North America Switchgear Market Outlook, By DC (2020-2028) (US $MN)
34 North America Switchgear Market Outlook, By AC (2020-2028) (US $MN)
35 North America Switchgear Market Outlook, By Voltage (2020-2028) (US $MN)
36 North America Switchgear Market Outlook, By Low (up to 1 kV) (2020-2028) (US $MN)
37 North America Switchgear Market Outlook, By Medium (2–36 kV) (2020-2028) (US $MN)
38 North America Switchgear Market Outlook, By High (Above 36 kV) (2020-2028) (US $MN)
39 North America Switchgear Market Outlook, By Installation (2020-2028) (US $MN)
40 North America Switchgear Market Outlook, By Outdoor (2020-2028) (US $MN)
41 North America Switchgear Market Outlook, By Indoor (2020-2028) (US $MN)
42 North America Switchgear Market Outlook, By Product (2020-2028) (US $MN)
43 North America Switchgear Market Outlook, By Conventional Switchgear (2020-2028) (US $MN)
44 North America Switchgear Market Outlook, By Modular/Integrated Switchgear (2020-2028) (US $MN)
45 North America Switchgear Market Outlook, By End User (2020-2028) (US $MN)
46 North America Switchgear Market Outlook, By Transmission & Distribution Utilities (2020-2028) (US $MN)
47 North America Switchgear Market Outlook, By Manufacturing and Process Industries (2020-2028) (US $MN)
48 North America Switchgear Market Outlook, By Commercial and Residential Infrastructure (2020-2028) (US $MN)
49 Europe Switchgear Market Outlook, By Country (2020-2028) (US $MN)
50 Europe Switchgear Market Outlook, By Insulation (2020-2028) (US $MN)
51 Europe Switchgear Market Outlook, By Vacuum (2020-2028) (US $MN)
52 Europe Switchgear Market Outlook, By Oil (2020-2028) (US $MN)
53 Europe Switchgear Market Outlook, By Gas (2020-2028) (US $MN)
54 Europe Switchgear Market Outlook, By Air (2020-2028) (US $MN)
55 Europe Switchgear Market Outlook, By Other Insulations (2020-2028) (US $MN)
56 Europe Switchgear Market Outlook, By Current (2020-2028) (US $MN)
57 Europe Switchgear Market Outlook, By DC (2020-2028) (US $MN)
58 Europe Switchgear Market Outlook, By AC (2020-2028) (US $MN)
59 Europe Switchgear Market Outlook, By Voltage (2020-2028) (US $MN)
60 Europe Switchgear Market Outlook, By Low (up to 1 kV) (2020-2028) (US $MN)
61 Europe Switchgear Market Outlook, By Medium (2–36 kV) (2020-2028) (US $MN)
62 Europe Switchgear Market Outlook, By High (Above 36 kV) (2020-2028) (US $MN)
63 Europe Switchgear Market Outlook, By Installation (2020-2028) (US $MN)
64 Europe Switchgear Market Outlook, By Outdoor (2020-2028) (US $MN)
65 Europe Switchgear Market Outlook, By Indoor (2020-2028) (US $MN)
66 Europe Switchgear Market Outlook, By Product (2020-2028) (US $MN)
67 Europe Switchgear Market Outlook, By Conventional Switchgear (2020-2028) (US $MN)
68 Europe Switchgear Market Outlook, By Modular/Integrated Switchgear (2020-2028) (US $MN)
69 Europe Switchgear Market Outlook, By End User (2020-2028) (US $MN)
70 Europe Switchgear Market Outlook, By Transmission & Distribution Utilities (2020-2028) (US $MN)
71 Europe Switchgear Market Outlook, By Manufacturing and Process Industries (2020-2028) (US $MN)
72 Europe Switchgear Market Outlook, By Commercial and Residential Infrastructure (2020-2028) (US $MN)
73 Asia Pacific Switchgear Market Outlook, By Country (2020-2028) (US $MN)
74 Asia Pacific Switchgear Market Outlook, By Insulation (2020-2028) (US $MN)
75 Asia Pacific Switchgear Market Outlook, By Vacuum (2020-2028) (US $MN)
76 Asia Pacific Switchgear Market Outlook, By Oil (2020-2028) (US $MN)
77 Asia Pacific Switchgear Market Outlook, By Gas (2020-2028) (US $MN)
78 Asia Pacific Switchgear Market Outlook, By Air (2020-2028) (US $MN)
79 Asia Pacific Switchgear Market Outlook, By Other Insulations (2020-2028) (US $MN)
80 Asia Pacific Switchgear Market Outlook, By Current (2020-2028) (US $MN)
81 Asia Pacific Switchgear Market Outlook, By DC (2020-2028) (US $MN)
82 Asia Pacific Switchgear Market Outlook, By AC (2020-2028) (US $MN)
83 Asia Pacific Switchgear Market Outlook, By Voltage (2020-2028) (US $MN)
84 Asia Pacific Switchgear Market Outlook, By Low (up to 1 kV) (2020-2028) (US $MN)
85 Asia Pacific Switchgear Market Outlook, By Medium (2–36 kV) (2020-2028) (US $MN)
86 Asia Pacific Switchgear Market Outlook, By High (Above 36 kV) (2020-2028) (US $MN)
87 Asia Pacific Switchgear Market Outlook, By Installation (2020-2028) (US $MN)
88 Asia Pacific Switchgear Market Outlook, By Outdoor (2020-2028) (US $MN)
89 Asia Pacific Switchgear Market Outlook, By Indoor (2020-2028) (US $MN)
90 Asia Pacific Switchgear Market Outlook, By Product (2020-2028) (US $MN)
91 Asia Pacific Switchgear Market Outlook, By Conventional Switchgear (2020-2028) (US $MN)
92 Asia Pacific Switchgear Market Outlook, By Modular/Integrated Switchgear (2020-2028) (US $MN)
93 Asia Pacific Switchgear Market Outlook, By End User (2020-2028) (US $MN)
94 Asia Pacific Switchgear Market Outlook, By Transmission & Distribution Utilities (2020-2028) (US $MN)
95 Asia Pacific Switchgear Market Outlook, By Manufacturing and Process Industries (2020-2028) (US $MN)
96 Asia Pacific Switchgear Market Outlook, By Commercial and Residential Infrastructure (2020-2028) (US $MN)
97 South America Switchgear Market Outlook, By Country (2020-2028) (US $MN)
98 South America Switchgear Market Outlook, By Insulation (2020-2028) (US $MN)
99 South America Switchgear Market Outlook, By Vacuum (2020-2028) (US $MN)
100 South America Switchgear Market Outlook, By Oil (2020-2028) (US $MN)
101 South America Switchgear Market Outlook, By Gas (2020-2028) (US $MN)
102 South America Switchgear Market Outlook, By Air (2020-2028) (US $MN)
103 South America Switchgear Market Outlook, By Other Insulations (2020-2028) (US $MN)
104 South America Switchgear Market Outlook, By Current (2020-2028) (US $MN)
105 South America Switchgear Market Outlook, By DC (2020-2028) (US $MN)
106 South America Switchgear Market Outlook, By AC (2020-2028) (US $MN)
107 South America Switchgear Market Outlook, By Voltage (2020-2028) (US $MN)
108 South America Switchgear Market Outlook, By Low (up to 1 kV) (2020-2028) (US $MN)
109 South America Switchgear Market Outlook, By Medium (2–36 kV) (2020-2028) (US $MN)
110 South America Switchgear Market Outlook, By High (Above 36 kV) (2020-2028) (US $MN)
111 South America Switchgear Market Outlook, By Installation (2020-2028) (US $MN)
112 South America Switchgear Market Outlook, By Outdoor (2020-2028) (US $MN)
113 South America Switchgear Market Outlook, By Indoor (2020-2028) (US $MN)
114 South America Switchgear Market Outlook, By Product (2020-2028) (US $MN)
115 South America Switchgear Market Outlook, By Conventional Switchgear (2020-2028) (US $MN)
116 South America Switchgear Market Outlook, By Modular/Integrated Switchgear (2020-2028) (US $MN)
117 South America Switchgear Market Outlook, By End User (2020-2028) (US $MN)
118 South America Switchgear Market Outlook, By Transmission & Distribution Utilities (2020-2028) (US $MN)
119 South America Switchgear Market Outlook, By Manufacturing and Process Industries (2020-2028) (US $MN)
120 South America Switchgear Market Outlook, By Commercial and Residential Infrastructure (2020-2028) (US $MN)
121 Middle East & Africa Switchgear Market Outlook, By Country (2020-2028) (US $MN)
122 Middle East & Africa Switchgear Market Outlook, By Insulation (2020-2028) (US $MN)
123 Middle East & Africa Switchgear Market Outlook, By Vacuum (2020-2028) (US $MN)
124 Middle East & Africa Switchgear Market Outlook, By Oil (2020-2028) (US $MN)
125 Middle East & Africa Switchgear Market Outlook, By Gas (2020-2028) (US $MN)
126 Middle East & Africa Switchgear Market Outlook, By Air (2020-2028) (US $MN)
127 Middle East & Africa Switchgear Market Outlook, By Other Insulations (2020-2028) (US $MN)
128 Middle East & Africa Switchgear Market Outlook, By Current (2020-2028) (US $MN)
129 Middle East & Africa Switchgear Market Outlook, By DC (2020-2028) (US $MN)
130 Middle East & Africa Switchgear Market Outlook, By AC (2020-2028) (US $MN)
131 Middle East & Africa Switchgear Market Outlook, By Voltage (2020-2028) (US $MN)
132 Middle East & Africa Switchgear Market Outlook, By Low (up to 1 kV) (2020-2028) (US $MN)
133 Middle East & Africa Switchgear Market Outlook, By Medium (2–36 kV) (2020-2028) (US $MN)
134 Middle East & Africa Switchgear Market Outlook, By High (Above 36 kV) (2020-2028) (US $MN)
135 Middle East & Africa Switchgear Market Outlook, By Installation (2020-2028) (US $MN)
136 Middle East & Africa Switchgear Market Outlook, By Outdoor (2020-2028) (US $MN)
137 Middle East & Africa Switchgear Market Outlook, By Indoor (2020-2028) (US $MN)
138 Middle East & Africa Switchgear Market Outlook, By Product (2020-2028) (US $MN)
139 Middle East & Africa Switchgear Market Outlook, By Conventional Switchgear (2020-2028) (US $MN)
140 Middle East & Africa Switchgear Market Outlook, By Modular/Integrated Switchgear (2020-2028) (US $MN)
141 Middle East & Africa Switchgear Market Outlook, By End User (2020-2028) (US $MN)
142 Middle East & Africa Switchgear Market Outlook, By Transmission & Distribution Utilities (2020-2028) (US $MN)
143 Middle East & Africa Switchgear Market Outlook, By Manufacturing and Process Industries (2020-2028) (US $MN)
144 Middle East & Africa Switchgear Market Outlook, By Commercial and Residential Infrastructure (2020-2028) (US $MN)

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