Switchgears Market By Voltage (Low, Medium and High Voltage), By End Use (Transmission & Distribution Utilities, Manufacturing & Process Industries, Commercial & Residential Infrastructure) - Growth, Future Prospects And Competitive Analysis, 2017 - 2025

In the field of electrical engineering, electric switchgear is defined as a combination of devices that include switches, fuses, isolators, circuit breakers, relays, control panels, lightning arrestors, current transformers, and potential transformers, among others. The switchgear is typically used to detect faults and disconnect the corrupted section from the circuit to prevent any possible damage to the system. The switchgear equipment is essentially concerned with switching and interrupting currents either under normal or abnormal operating conditions. The use of switchgear instead of fuses offers superior benefits such as reliability, certain detection of faulty circuits, quick operation, and provision for manual control. Due to the aforementioned merits, switchgear has been extensively used to protect electrical equipment for a variety of electrical end-users.

Switchgear protection plays a vital role in every step of a modern-day electrical system, such as generation, transmission, and distribution. It prevents the loss of expensive electrical equipment from a variety of electrical abnormalities, including overcurrent, short circuits, and any other faults in the system. Depending on the application, switchgear is available in a wide range of ratings and varieties. Apart from power system networks, switchgear is also extensively used for industrial works, industrial projects, domestic and commercial buildings, marine applications, and mining, among others. With the growing trend of electrical network upgrades, the growing infrastructure for non-conventional energy systems, and the establishment of smart electric grids, switchgear provide a crucial aid in the field of electrical system automation. As a result, demand for switchgear is expected to rise in tandem with the global adoption of smart grid applications.

The report titled "Switchgear Market: Growth, Future Prospects, and Competitive Landscape, 2017–2025" offers strategic insights into the global switchgear market with a focus on the market's size and estimates for the duration of 2015–2025. The said research study covers an in-depth analysis of market segments based on Voltage, end-use industry, and a cross-sectional study across different geographies. The study covers the comparative analysis of each sub-segment for the years 2016–2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.

In order to help strategic decision-makers, the report also includes competitive profiling of the leading switchgear manufacturers, their strategies, market positioning, and key developments. Some of the major players profiled in the report include ABB Ltd., Eaton Corporation PLC, General Electric Company, Mitsubishi Electric Corporation, TE Connectivity Ltd., Toshiba Corporation, Schneider Electric SA, Siemens AG, Hitachi Ltd., Crompton Greaves Ltd., Alstom SA, and Hyundai Heavy Industries Co. Ltd.

Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the switchgear industry
  • Market fuelers, market impediments, and their impact on market growth
  • Market inclination insights and key trend analysis for the switchgear market
  • in-depth competitive environment analysis
  • Trailing 2-year market size data (2015–2016)

Overall, the research study provides a holistic view of the global switchgear market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.

The global switchgear market is segmented, based on Voltage, into the following categories:

  • Low Voltage (less than 1000 volts)
  • 1KV to 75KV medium voltage
  • High Voltage (greater than 75 kV)

As of 2016, the low-voltage switchgear (less than 1KV) segment dominated the overall switchgear market worldwide. Low-voltage switchgear is used in a wide array of end-use applications, such as commercial, residential, and industrial ones. With consistently growing industrial, commercial, and residential infrastructures, the demand for switchgear is also growing in order to protect electric equipment from abnormalities in the electric supply.

In terms of revenue, the high-voltage switchgear (above 75KV) segment trailed the low-voltage segment in 2016. High-voltage switchgear is typically used in heavy applications such as power generation units and transmission and distribution utilities. With the growing demand for power, the demand for the aforementioned infrastructure is also growing persistently. Therefore, the demand for high-voltage switchgear for electricity generation and distribution is also expected to grow consistently throughout the forecast period from 2017 to 2025.

The global switchgear market is segmented, based on the end-use industry, into the following categories:

  • Transmission and Distribution Utilities
  • Manufacturing and Process Industries
  • Commercial and Residential Infrastructure

As of 2016, the transmission and distribution utility segment dominated the overall switchgear market worldwide. Consistently rising demand for power has encouraged the setup of new power plants and transmission and distribution utilities. Switchgears are extensively used to safeguard equipment and control systems from abnormalities in the electricity systems in power plants, transmission utilities, and distribution utilities. Furthermore, the switchgear market is expected to grow in proportion to the growing trend of up-gradation and renovation of power transmission and distribution utilities and the introduction of smart grids.

In terms of revenue in the overall switchgear market, the manufacturing and process industries end-use segment trailed the transmission and distribution utility segment in 2016. After the past economic depression, manufacturing and process industries have shown significant growth in recent years. Switchgears are widely used in the manufacturing and processing industries in order to protect electrical devices and circuits from overload, short-circuit, and voltage fluctuations, among others. With consistent growth in the manufacturing and processing industries, the switchgear market is expected to witness positive growth in this segment.

The global switchgear market has been segmented on the basis of geographical regions, as per the following regions and countries:

  • North America
  • U.S.
  • rest of North America
  • Europe
  • U.K.
  • Germany
  • France
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific
  • Rest of the World (RoW)
  • The Middle East and Africa
  • Latin America

As of 2016, Asia Pacific dominated the overall switchgear market in terms of revenue as well as volume. Since a few years, Asia Pacific has seen significant improvements in electrical infrastructure and networking. With the growing demand for electrical energy, new power plants, transmission lines, and distribution units are being set up at a brisk pace. In order to protect the expensive equipment in the aforementioned utilities, the demand for switchgear has increased significantly in the region. Furthermore, flourishing manufacturing and processing industries have also uplifted the demand for switchgear in this region. Due to the aforementioned reasons, Asia Pacific is expected to dominate the overall switchgear market throughout the forecast period from 2017 to 2025.

North America trailed Asia Pacific in the overall switchgear market in terms of revenue and volume. The consistent development of smart grid infrastructures has escalated the demand for switchgear in North America. Switchgears play a vital role in the development of non-conventional energy generation systems by ensuring the safety of other equipment from overloads and voltage fluctuations. Furthermore, the widespread use of switchgear in industrial manufacturing and processing units, as well as commercial and residential infrastructures, has fueled the growth of the switchgear market. 

Frequently Asked Question:

The market for Switchgears Market is expected to reach USD$ 89.4 Bn in 2025.

The Switchgears Market is expected to see significant CAGR growth over the coming years, at 9.2 %.

The report is forecasted from 2017-2025.

The base year of this report is 2016.

ABB Ltd., Eaton Corporation PLC, General Electric Company, Mitsubishi Electric Corporation, TE Connectivity Ltd.are some of the major players in the global market.

Choose License Type
Trusted By
Published Date:  Aug 2017
Category:  Automation & Process Control
Report ID:   58647
Report Format:   PDF
Pages:   120
Rating:    4.2 (50)
Delivery Time: 24 Hours to 48 Hours   
Connect With Us
24/7 Research Support