Switchgear Monitoring System - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Switchgear Monitoring System Market is accounted for $1.16 billion in 2019 and is expected to reach $2.82 billion by 2027 growing at a CAGR of 11.7% during the forecast period. Demand for safe and secure electrical distribution systems and demand for continuous monitoring of switchgears are the major factors driving the market growth. However, high cost of monitoring devices and stringent environmental and safety regulations for SF6 switchgears are restraining the market growth. Moreover, growth of data centers may provide ample opportunities for market growth.
Switchgear Monitoring System or Switchgear Condition Monitoring system is a set of equipment used to keep a track of condition of switchgears and detect any defects in switchgears to prohibit possible failure of switchgear system which may cause unwanted power outages. Switch gear monitoring system is basically comprised of components such as partial discharge sensors, instruments and diagnostic software to observe the condition and current working switchgears in order to schedule the maintenance power cuts and plan the proper preventive measures required to be executed to avoid failure of switchgear system.
Based on switchgear type, the gas insulated substation (GIS) segment is likely to have a huge demand as they are mainly used in industrial areas to fulfill high-energy demands through a space-saving design of minimum cost. GIS are deployed in various industries, serving different needs at varying voltage levels. By geography, Asia Pacific is going to have a lucrative growth during the forecast period. Countries such as China and India are undertaking a lot of smart grid and substation projects to fulfill the growing demand for energy. This would drive the switchgear monitoring system market in the region.
Some of the key players profiled in the Switchgear Monitoring System Market include ABB, Eaton, Emerson, Fortive, Fuji Electric Co Ltd, General Electric, Independent Power Engineering Consultants, Koncar – Electrical Engineering Institute Inc, Mitsubishi Electric Corporation, Pacific Microsystems, Qualitrol Company LLC, Schneider Electric, Senseor, Siemens AG, Tiara Vibrasindo Pratama, and Trafag.
• Medium Voltage
• High Voltage
Switchgear Types Covered:
• Gas Insulated Substation (GIS)
• Air Insulated Substation (AIS)
Monitoring Types Covered:
• Temperature Monitoring
• Partial Discharge (PD) Monitoring System
• Online Monitoring System
• Other Monitoring Types
• Software & Services
End Users Covered:
• Energy and Utilities
• Commercial Centers
• Family Entertainment Centers and Movie Theaters
• Residential Buildings
• Banking, Financial Services, and Insurance (BFSI)
• Information Technology and Telecommunications
• Other End Users
• 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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