“Increase in demand for advancement in the switchgear and advent of smart grid are expected to give impetus to switchgears. The use of the voltage fluctuator is very common in the heavy as well commercial sectors. It is used in the transmission and distribution of energy to consumer and for running machineries. The need of the energy is increasing day by day, which has been aiding the overall expansion of the switchgear market.” says FMI analyst.
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Switchgear market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate on research and development activities and capitalize on opportunities especially in the field of T&D Utilities. Their key focus will however remain meeting requirements of consumers. Collaboration with local players and developing new technology in the form of smart grid and advanced switchgear are key strategies adopted by the market players.
Competitive Landscape
The market is fragmented, with key players accounting for approximately one fifth of the market share. These companies are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are ABB Ltd., Siemens AG, Schniender Electric, Havells India Pvt. Ltd., Hyundai Electric and Energy System, Fuji Electric, Powell Industries, etc.
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Switchgear Market By Category
By Component Type
- Power Distributor Switch Breaker
- Switch Disconnector
- MCCB
- HRC Fuse
- Earth Switch
- MCB
By Voltage Type
- Low Voltage (less than 1kV)
- Medium Voltage (1kV to 75kV)
- High Voltage (75kV to 230kV)
- Extra High Voltage (230kV to 500kV)
- Ultra-High Voltage (above 500kV)
By Construction Type
- Outdoor
- Indoor
- Others
By Insulation Type
- Air Insulated Switchgear
- Gas Insulated Switchgear
- Oil Insulated Switchgear
- Vacuum Insulated Switchgear
By End User
- T&D Utilities
- Commercial
- Industrial
- Residential
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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