HOME Top Market Reports Switchgear Market by Voltage (< 1 KV, 1–36 KV, 36–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022

Switchgear Market by Voltage (< 1 KV, 1–36 KV, 36–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: August 2017
Report Code: EP 3021

 

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The global switchgear market was valued at USD 84.14 Billion in 2016 and is expected to grow at a CAGR of 7.12%, from 2017 to 2022. Increasing access to electricity in developing countries, continuous growth of construction and developmental activities, and growth in renewable power generation projects are the major drivers that would trigger growth in the switchgear market.

The years considered for the study are as follows:

  • Base Year: 2016
  • Estimated Year: 2017
  • Projected Year: 2022
  • Forecast Period: 2017 to 2022

The base year considered for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define, describe, and forecast the global switchgear market by voltage, equipment, end-user and region
  • To provide detailed information on  major factors influencing the growth of the switchgear market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the switchgear market with respect to individual growth trends, future prospects, and contribution of each segment to the market
  • To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market rankings and core competencies
  • To track and analyze competitive developments, such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the switchgear market

Research Methodology

This research study involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global switchgear market. Primary sources are mainly industry experts from core and related industries, OEMs, vendors, suppliers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain. The points given below explain the research methodology.

  • Study of the annual revenue and market developments of the major players providing switchgear
  • Analysis of demand for switchgear by end-users
  • Assessment of future trends and growth of end-users in the switchgear market
  • Assessment of the switchgear market with respect to voltage capacity by various end-users
  • Study of market trends in various regions and countries, by end-users, of the switchgear market
  • Study of contracts and developments related to the switchgear market by key players across different regions
  • Finalization of overall market sizes by triangulating the supply-side data, which includes product developments and annual revenues of companies supplying switchgear equipment across the globe

After arriving at the overall market size, the total market has been split into several segments and sub-segments. The figure given below illustrates the breakdown of primaries conducted during the research study on the basis of company type, designation, and region.

Switchgear Market

To know about the assumptions considered for the study, download the pdf brochure

Market Ecosystem:

The switchgear ecosystem comprises equipment manufacturers, such as, ABB, Ltd. (Switzerland), General Electric Company (US), Schneider Electric SE (France), EATON CORPORATION plc (Ireland), Siemens AG (Germany), Larsen & Toubro, Ltd. (India), Alstom SA (France), Hitachi, Ltd. (Japan), CG Power and Industrial Solutions Limited (India), Efacec Power Solutions – S.G.P.S. S.A. (Portugal), ELEKTROBUDOWA SA GROUP (Poland), Hawker Siddeley Switchgear Ltd. (UK), Hyosung Corporation (South Korea), Mitsubishi Electric Corporation (Japan), and Toshiba Corporation (Japan) among others.

Target Audience:

The target audience of this report includes:

  • Switchgear manufacturers, dealers, and suppliers
  • Transmission and distribution utilities
  • State and national regulatory authorities
  • Power generation plants
  • Consulting companies in the energy and power sector
  • Government and research organizations
  • Environmental research institutes
  • Process industries and power and energy associations
  • Investment firms

Scope of the Report:

  • By Voltage
    • < 1 kV
    • 1–36 kV
    • 36–72.5 kV
    • > 72.5
  • By End-User
    • Transmission and Distribution Utilities
    • Manufacturing and Process Industries
    • Commercial and Residential Infrastructure
  • By Equipment
    • Gas insulated switchgear
    • Air Insulated switchgear
    • Circuit breakers
  • By Region
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

Further breakdown of region or country-specific analysis

Company Information

Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Countries Covered
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Introduction
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities in the Global Switchgear Market
    4.2 Asia Pacific Switchgear Market Size, By Application & Country
    4.3 Switchgear Market, By Region
    4.4 Switchgear Market, By Equipment, 2017 & 2022
    4.5 Switchgear Market, By Voltage, 2016

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Continued Growth of Construction & Developmental Activities
                    5.2.1.2 Increasing Access to Electricity in Developing Countries
                    5.2.1.3 Growth in Renewable Power Generation
           5.2.2 Restraints
                    5.2.2.1 Stringent Environmental & Safety Regulations for Sf6 Switchgears
                    5.2.2.2 Increasing Competition From the Unorganized Sector of the Switchgear Market
           5.2.3 Opportunity
                    5.2.3.1 Upcoming Smart Cities
                    5.2.3.2 Aging Power Infrastructure
                    5.2.3.3 HVDC Transmission
           5.2.4 Challenges
                    5.2.4.1 Cyber Security
                    5.2.4.2 Price Volatility of Raw Materials

6 Switchgear Market, By Voltage (Page No. - 41)
    6.1 Introduction
    6.2 <1 kV
    6.3 1 kV - 36 kV
    6.4 36 kV - 72.5 kV
    6.5 >72.5 kV

7 Switchgear Market, By End User (Page No. - 46)
    7.1 Introduction
    7.2 Transmission & Distribution Utilities
    7.3 Manufacturing & Process Industries
    7.4 Commercial & Residential Infrastructure
    7.5 Others

8 Switchgear Market, By Equipment (Page No. - 52)
    8.1 Introduction
    8.2 MCB & MCCB
    8.3 Ring Main Unit
    8.4 Circuit Breakers
    8.5 Surge Arresters
    8.6 Fuses
    8.7 Motor Control Centers
    8.8 Surge Protection Devices
    8.9 Gas Insulated Switchgear
    8.10 Air Insulated Switchgear
    8.11 Other

9 Switchgear Market, By Region (Page No. - 62)
    9.1 Introduction
    9.2 North America
           9.2.1 US
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Germany
           9.3.2 Russia
           9.3.3 UK
           9.3.4 France
           9.3.5 Rest of Europe
    9.4 Asia-Pacific
           9.4.1 China
           9.4.2 India
           9.4.3 Australia
           9.4.4 Japan
           9.4.5 Rest of Asia Pacific
    9.5 South America
           9.5.1 Brazil
           9.5.2 Argentina
           9.5.3 Rest of South America
    9.6 Middle East & Africa
           9.6.1 Saudi Arabia
           9.6.2 UAE
           9.6.3 Kuwait
           9.6.4 South Africa
           9.6.5 Rest of the Middle East & Africa

10 Competitive Landscape (Page No. - 104)
     10.1 Overview
     10.2 Market Ranking, 2016
     10.3 Competitive Leadership Mapping
             10.3.1 Visionary Leaders
             10.3.2 Innovators
             10.3.3 Dynamic Differentiators
             10.3.4 Emerging Companies
     10.4 Competitive Benchmarking

11 Company Profiles (Page No. - 113)
(Overview, Strength of Product Portfolio, Business Strategy Excellence, Products Offering, Recent Development’s, Business Strategy)*
     11.1 Introduction
     11.2 ABB Ltd.
     11.3 Hyosung Corporation
     11.4 Alstom SA
     11.5 CG Power and Industrial Solutions Limited
     11.6 Hitachi Ltd.
     11.7 Hyundai Heavy Industries Co., Ltd.
     11.8 Schneider Electric SE
     11.9 Siemens AG
     11.10 Eaton Corporation PLC
     11.11 General Electric Company
     11.12 Toshiba Corporation
     11.13 Mitsubishi Electric Corporation
     11.14 Powell Industries, Inc.
     11.15 TE Connectivity Ltd.
     11.16 Larsen & Toubro Limited
     11.17 Elektrobudowa SA Group
     11.18 Zpue S.A.
     11.19 Lucy Electric UK Ltd.
     11.20 Hawker Siddeley Switchgear Ltd.
     11.21 Sel S.P.A.

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Products Offering, Recent Development’s, Business Strategy Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 191)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details


List of Tables (80 Tables)

Table 1 Switchgear Market Snapshot
Table 2 Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 3 <1 kV Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 4 1 kV - 36 kV Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 5 36 kV - 72.5 kV Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 6 >72.5 kV Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 7 Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 8 Transmission & Distribution Utilities: Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 9 Manufacturing & Process Industries: Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 10 Commercial & Residential Infrastructure: Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 11 Others: Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 12 Switchgear Market Size, By Equipment, 2015–2022 (USD Billion)
Table 13 MCB & MCCB Market Size, By Region, 2015–2022 (USD Billion)
Table 14 Ring Main Unit Market Size, By Region, 2015–2022 (USD Billion)
Table 15 Circuit Breakers Market Size, By Region, 2015–2022 (USD Billion)
Table 16 Surge Arresters Market Size, By Region, 2015–2022 (USD Billion)
Table 17 Fuses Market Size, By Region, 2015–2022 (USD Billion)
Table 18 Motor Control Centers Market Size, By Region, 2015–2022 (USD Billion)
Table 19 Surge Protection Devices Market Size, By Region, 2015–2022 (USD Billion)
Table 20 Gas Insulated Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 21 Air Insulated Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 22 Other Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 23 Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 24 North America: Switchgear Market Size, By Country, 2015–2022 (USD Billion)
Table 25 North America: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 26 North America: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 27 US: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 28 US: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 29 Canada: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 30 Canada: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 31 Mexico: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 32 Mexico: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 33 Europe: Switchgear Market Size, By Country, 2015–2022 (USD Billion)
Table 34 Europe: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 35 Europe: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 36 Germany: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 37 Germany: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 38 Russia: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 39 Russia: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 40 UK: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 41 UK: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 42 France: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 43 France: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 44 Rest of Europe: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 45 Rest of Europe: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 46 Asia-Pacific: Switchgear Market Size, By Country, 2015–2022 (USD Billion)
Table 47 Asia Pacific: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 48 Asia Pacific: Switchgear Market Size, By End-User, 2014–2021 (USD Billion)
Table 49 China: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 50 China: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 51 India: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 52 India: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 53 Australia: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 54 Australia: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 55 Japan: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 56 Japan: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 57 Rest of Asia Pacific: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 58 Rest of Asia Pacific: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 59 South America: Switchgear Market Size, By Region, 2015–2022 (USD Billion)
Table 60 South America: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 61 South America: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 62 Brazil: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 63 Brazil: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 64 Argentina: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 65 Argentina: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 66 Rest of South America: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 67 Rest of South America: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 68 Middle East & Africa: Switchgear Market Size, By Country, 2015–2022 (USD Billion)
Table 69 Middle East & Africa: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 70 Middle East & Africa: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 71 Saudi Arabia: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 72 Saudi Arabia: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 73 UAE: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 74 UAE: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 75 Kuwait: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 76 Kuwait: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 77 South Africa: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 78 South Africa: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)
Table 79 Rest of the Middle East & Africa: Switchgear Market Size, By Voltage, 2015–2022 (USD Billion)
Table 80 Rest of the Middle East & Africa: Switchgear Market Size, By End-User, 2015–2022 (USD Billion)


List of Figures (65 Figures)

Figure 1 Market Segmentation: Switchgear Market
Figure 2 Switchgear Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Asia Pacific Market Dominated the Switchgear Market in 2016
Figure 8 The Transmission & Distribution Utilities Segment is Estimated to Lead the Switchgear Market During the Forecast Period
Figure 9 > 72.5 Voltage Segment to Dominate the Market in 2016t
Figure 10 Increasing Access to Electricity is Expected to Drive the Growth of the Switchgear Market During the Forecast Period
Figure 11 The Transmission & Distribution Utilities Segment Held the Maximum Share in the Switchgear Market in 2016
Figure 12 Asia Pacific is Estimated to Witness the Highest Growth Rate From 2017 to 2022
Figure 13 Gas Insulated Switchgear Equipment is Estimated to Dominate the Switchgear Market During the Forecast Period
Figure 14 Above 72.5 Voltage Segment Hold the Largest Share in 2016
Figure 15 Drivers, Restraints, Challenges, and Opportunities
Figure 16 Asia Construction Expenditure, By Country, 2015
Figure 17 Access to Electricity By the Population During 2008–2014
Figure 18 Renewable Energy Use in 2014 and 2030
Figure 19 Switchgear Market Segment, By Voltage, 2016
Figure 20 Switchgear Market Segment, By End-User, 2016
Figure 21 Gas Insulated Switchgears Dominated the Switchgear Market in 2016
Figure 22 Switchgear Market, By Region, 2016
Figure 23 Regional Snapshot: Growth Rate of the Switchgear Market in Various Countries, From 2017 to 2022
Figure 24 North America Switchgear Market: Regional Snapshot
Figure 25 Less Than 1 kV Voltage Segment is Estimated to Lead the US Switchgear Market
Figure 26 The Transmission & Distribution Utilities End-User Segment is Estimated to Dominate the Canadian Switchgear Market
Figure 27 Europian Switchgear Market: 2016
Figure 28 Less Than 1 kV Voltage Segment is Estimated to Lead the Switchgear Market in Germany
Figure 29 The Transmission & Distribution Utilities End-User Segment is Estimated to Dominate the Russian Switchgear Market
Figure 30 Less Than 1 kV Voltage Segment is Estimated to Lead the UK Switchgear Market
Figure 31 Asia Pacific Switchgear Market: Regional Snapshot
Figure 32 Less Than 1 kV Voltage Segment is Estimated to Lead the Switchgear Market in China
Figure 33 The Transmission & Distribution Utilities End-User Segment is Estimated to Dominate the Indian Switchgear Market
Figure 34 South America Switchgear Market: 2016
Figure 35 Less Than 1 kV Voltage Segment is Estimated to Lead the Switchgear Market in Brazil
Figure 36 The Transmission & Distribution Utilities End-User Segment is Estimated to Dominate the Switchgear Market in Argentina
Figure 37 Middle East & Africa Switchgear Market: 2016
Figure 38 Less Than 1 kV Voltage Segment is Estimated to Lead the Switchgear Market in Saudi Arabia
Figure 39 The Transmission & Distribution Utilities End-User Segment is Estimated to Dominate the Switchgear Market in Kuwait
Figure 40 Key Developments in the Switchgear Market, 2014–2017
Figure 41 Market Ranking for Switchgear, 2016
Figure 42 Low Voltage Switchgear: Market Structure, 2016
Figure 43 Medium Voltage Switchgear: Market Structure, 2016
Figure 44 Market Evaluation Framework, 2014–2017
Figure 45 Battle for Market Share (2014–2017): Contracts & Agreements Was the Key Strategy Adopted By the Players in the Switchgear Market
Figure 46 Competitive Leadership Mapping, 2017
Figure 47 Strength of Product Portfolio (25 Players)
Figure 48 Business Strategy Excellence (25 Players)
Figure 49 ABB Ltd.: Company Snapshot
Figure 50 Hyosung Corporation: Company Snapshot
Figure 51 Alstom SA: Company Snapshot
Figure 52 CG Power and Industrial Solutions Limited: Company Snapshot
Figure 53 Hitachi, Ltd.: Company Snapshot
Figure 54 Hyundai Heavy Industries Co., Ltd.: Company Snapshot
Figure 55 Schneider Electric SE: Company Snapshot
Figure 56 Siemens AG: Company Snapshot
Figure 57 Eaton Corporation PLC: Company Snapshot
Figure 58 General Electric Company: Company Snapshot
Figure 59 Toshiba Corporation: Company Snapshot
Figure 60 Mitsubishi Electric Corporation: Company Snapshot
Figure 61 Powell Industries, Inc.: Company Snapshot
Figure 62 TE Connectivity Ltd.: Company Snapshot
Figure 63 Larsen & Toubro Limited: Company Snapshot
Figure 64 Elektrobudowa SA Group: Company Snapshot
Figure 65 Zpue S.A.: Company Snapshot

The global switchgear market is projected to grow at a CAGR of 7.12%, from 2017 to 2022, to reach a market size of USD 125.10 Billion by 2022. Continuous demand for construction and developmental activities, increasing access for electricity in developing countries, and growth in renewable power generation projects are the major drivers of the switchgear market.

The report segments the switchgear market, by voltage, into < 1 KV, 1–36 kV, 36–72.5 kV, and > 72 kV. The voltage capacity of the > 72.5 kV sub-segment dominated the voltage segment in 2016 due to increasing electrical sub-stations in transmission and distribution network and protection of the electrical circuit equipment at high voltages.

Based on the end-user segment, the switchgear market is segmented into transmission and distribution utilities, manufacturing and process industries, commercial and residential infrastructure, and others. Others include marine, transportation, and mining sectors. The transmission and distribution utilities sub-segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. The transmission and distribution utilities segment is expected to grow at the fastest rate during the forecast period.

Based on equipment, the switchgear market is segmented into gas insulated switchgear, air insulated switchgear, and circuit breakers. Gas insulated switchgear held the largest market share in 2016 and is projected to dominate the market during the forecast period due to its space optimization, low maintenance, and protection against external elements. SF6 is used as an arc quenching and insulation medium for gas insulated switchgear that provides environmental advantages over other switchgears.

In this report, the switchgear market has been analyzed with respect to five regions, namely, Asia Pacific, Europe, North America, the Middle East and Africa, and South America. The market in Asia Pacific is expected to lead the global switchgear market during the forecast period due to the upgradation of aging electrical grid infrastructure and increase in electricity demand in the region.

Switchgear Market

Aging power infrastructure, HVDC transmission networks, and upcoming smart cities can lead to opportunities in the switchgear market. Stringent environmental and safety regulations for SF6 switchgears and increasing competition from the unorganized sector of the switchgear market could be a restraint for the switchgear market, leading to declining profits.

Some of the leading players in the switchgear market include ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), EATON CORPORATION plc (Ireland), and Schneider Electric SE (France). Contracts & agreements and new product launches were the most adopted strategies by players to ensure their dominance in the market.

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