Global Medium-Voltage Switchgear Market – Industry Analysis and Forecast (2019-2026)

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Global Medium-Voltage Switchgear Market was valued at US$ 22.65Bn in 2019 and is expected to reach US$ 51.27 Bn by 2026, at a CAGR of 9.5% during a forecast period.

The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

 

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Switchgear is a switching device that is specially designed to control, regulate, and protect various types of power generation, distribution, and transmission equipment. It is also used to provide protection to different electric motor control systems installed in various end-user segments. In electric power systems, switchgears are a combination of fuses and disconnect switches or circuit breakers. The purpose of switchgear is to de-energize the apparatus and allow maintenance work to be done and clear downstream faults.
Global Medium-Voltage Switchgear Market Segment Analysis

In terms of Voltage, the 6kV – 15kV switchgear segment is expected to hold the largest share in terms of revenue generation. While the 3kV – 5kV switchgear segment is expected to exhibit the most promising growth rate during the forecast period in terms of both value and volume. The demand for 3kV to 5 kV switchgear is anticipated to increase at an exponential rate in the coming years owing to its increasing usage in electrification in residential, commercial, and other real estate projects across the globe.

In terms of insulation, the air-insulated switchgear market will grow due to low capital investment and comparatively effective operational safety. Rising investments toward product and technological performance enhancements will further complement the industry outlook. In 2019, gas-insulated units held over 15% of the global industry share in the forecast period. Minimal maintenance, high dielectric strength, low space requirement, and improved reliability are the key parameters that make its deployment preferable over other available alternatives.
Global Medium-Voltage Switchgear Market Dynamics

Factor such as increasing demand for electrification along with the adoption of smart grid technology in emerging countries is one of the primary factors expected to boost the demand of the medium voltage switchgear market in the forecasting years. There has always been a problem of electrification in emerging countries, which has restrained the growth of construction and industrial sectors.
As of 2019, the electrification rate was less than 68% in South Asian countries such as Laos, Sri Lanka, India, and Indonesia. Further lack of proper electrification in industries has hampered the use of switchgear and other advanced equipment, which require electricity.

Increasing Competition from the Unorganized Sector of the Switchgear Market and Stringent Environmental and Safety Regulations for Sf6 Switchgear is the major restraining factor of the medium-voltage Switchgear market. While Upcoming Smart Cities and Hvdc Transmission are opportunities factors towards the Medium-voltage Switchgear market.
Global Medium-Voltage Switchgear Market Regional Insights

Geographically, the Asia Pacific market is expected to be a leading contributor to the global Medium-voltage Switchgear market during the forecasting period. Initiation of smart grid initiatives by various governments in this region, coupled with the huge investment for upgrading power transmission and distribution systems, is the major factor behind the region’s dominancy in the global medium voltage switchgear market.
Global Medium-Voltage Switchgear Market, Key Highlights:

• Global Medium-Voltage Switchgear Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Medium-Voltage Switchgear Market
• Global Medium-Voltage Switchgear Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Medium-Voltage Switchgear Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Medium-Voltage Switchgear Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Medium-Voltage Switchgear Market are also profiled.

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Global Medium-voltage Switchgear Market, by Voltage:

• 3kV - 5kV
• 6kV - 15kV
• 17kV - 27kV
• 28kV - 40Kv
Global Medium-voltage Switchgear Market, by Insulation

• Air Insulated Switchgear
• Gas Insulated Switchgear
Global Medium-voltage Switchgear Market, by End-Users:

• Power Plant
• Gas and Petrochemical
• Commercial Sector
• Oil
• Utility Sector
• Paper and Pulp Industry
Global Medium-voltage Switchgear Market, by Region:

• North America
• Europe
• Middle East & Africa
• Asia Pacific
• Latin America
Global Medium-Voltage Switchgear Market Key Players

• Schneider Electric SE
• ABB
• Siemens AG
• General Electric
• ABB, Ltd.
• EATON CORPORATION plc
• Larsen & Toubro, Ltd.
• Alstom SA
• Hitachi, Ltd.
• CG Power and Industrial Solutions Limited
• Hawker Siddeley Switchgear Ltd.
• Efacec Power Solutions – S.G.P.S. S.A.
• ELEKTROBUDOWA SA GROUP
• Hyosung Corporation
• Mitsubishi Electric Corporation
• Toshiba Corporation

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