HOME Research Insight The Switchgear Market is dominated by a few major players, and the rest is fragmented among smaller regional players

The Switchgear Market is dominated by a few major players, and the rest is fragmented among smaller regional players

The global switchgear market is likely to witness a CAGR of 10.07% from 2015 to 2020. China represents the largest market, followed by the U.S. and India, in terms of market size, by value. Market growth of the switchgear market is mainly influenced by rise in transmission & distribution expenditure, growth in renewable power generation, and increasing interconnections of electricity grids in regions such as Asia-Pacific, North America, and Europe.

The switchgear market is dominated by a few major players, and the rest is fragmented among smaller regional players. Some of the major players operating in the market include ABB Ltd. (Switzerland), TE Connectivity (Switzerland), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Alstom (France), General Electric Company (U.S.), Crompton Greaves Ltd. (India), and Eaton Corporation (Ireland).

The growth strategies adopted by the major players of this market include contracts & agreements, new product developments, expansions, mergers & acquisitions, and joint ventures. Contracts & agreements was the most commonly used strategy by the players, constituting more than half of the total development share. The industry witnessed new product launches as the second most common initiative adopted in the past 3 years (from 2014 to March 2016).

Companies are constantly investing in high voltage transmission systems and are trying to improve to provide high voltage current with low transmission loss, while protecting the environment from hazards.

ABB Ltd. (Switzerland), a world leader in automation and power control equipment, has adopted innovation as its key strategy to retain its leading position in the market. It is focusing on streamlining its product portfolio by upgrading its existing product line. This increases the company’s competitiveness and enables it to stay updated. ABB has won several contracts and orders for upgrading networks and integrating existing grids with renewable ones. As switchgear is one of the crucial equipment for the integration and upgradation process, it will help the company to become a major provider of power switching and protection equipment globally. For instance, the company developed 1,200 kV power equipment that include transformers and switchgear for a pilot project on ultra-high voltage AC grids at Bina substation, Power Grid Corporation of India Ltd. (India).

Siemens AG (Germany) is one among the largest producers of energy-efficient, resource-saving technologies, and a leading supplier of power generation, transmission, and medical diagnosis systems. It is majorly focusing on the areas of electrification, automation, and digitalization. The company is focusing on innovation-driven growth markets, intensifying customer focus, increasing the scope of its offerings by launching new products, and using its operational experience. The company has been focusing on innovative technologies and new product developments, along with a strong supply chain management. The company has improved its product offerings and upgraded its product line according to market trends. For instance, the company launched a compact GIS in Paris for HVDC applications that uses 95% less space compared to conventional AIS units, with approximately 10% size reduction on offshore platform.

Related Reports:

Switchgear Market by Voltage (<1 kV, 1 to 52 kV, and >52 kV), by End-user (Transmission & Distribution Utilities, Manufacturing & Process Industries, and Commercial & Residential Infrastructure), and by Region - Global Trends & Forecast to 2021

Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support

US : 1-888-600-6441

Search reports