Market Leader - DC Switchgear Market
The global DC switchgear market is projected to reach USD 14.8 billion by 2026 from an estimated market size of USD 11.0 billion in 2021, at a CAGR of 6.1% during the forecast period. The factors driving the growth for DC switchgear are the growing demand for renewable power generation and increasing investment in the upgradation and modernization of the railway sector
The Asia Pacific region is estimated to be the largest market for the DC switchgear, followed by North America. The Asia Pacific region is also projected to be the fastest-growing market during the forecast period. Asia Pacific is expected to dominate the market due to the growing investments in the railways sector and integration of renewable energy sources, especially in countries such as China, India, Japan and Australia.
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The DC switchgear market is served by a mix of large international players with operational presence across the globe and local players commanding a strong supply network in the domestic market. The leading players in the global DC switchgear market include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Hitachi Energy Ltd. (Japan), Toshiba Infrastructure Systems & Solutions Corporation (Japan), General Electric (US) and Schneider Electric (France).
ABB is one of the leading companies offering power and automation solutions. The company provides a broad range of products, systems, solutions, and services to various industries, such as aluminum, automotive, cement, chemicals, data center, food & beverages, process automation, life sciences, marine, metals, mining, oil & gas, ports, power generation, pulp & paper, railway, smart cities, solar power, water treatment, and wind power. ABB conducts its operations through four business segments, namely, Electrification, Motion, Industrial Automation, and Robotics & Discrete Automation. The company offers DC switchgear through the Motion business segment, which accounted for a 23.7% share of the total revenue in 2020. The Motion segment operates through five divisions, namely, Motors & Generators, Drive Products, System Drives, Services, Traction and Mechanical Power Transmission. ABB has 548 offices in 89 countries across four regions, namely, Europe, the Americas, Asia, and the Middle East & Africa. It has approximately 320 consolidated operating and holding subsidiaries and several production and R&D centers located across the world.
Siemens is a German conglomerate that focuses on offering electrification, automation, and digitalization solutions. The company conducts its operations through 6 business segments, namely, Digital Industries, Siemens Healthineers, Smart Infrastructure, Mobility, Portfolio Companies, and Siemens Financial Services. The company offers DC switchgears through its Mobility business segment, which accounted for 14.8% of the company's total revenue in 2020. The Mobility business segment is structured into rolling stock, rail infrastructure, and turnkey business divisions. Through the rail infrastructure business division, the Mobility business segment offers products and solutions for rail automation, operations control and telematics systems, digital station solutions and railway communication systems, signaling on-board and crossing products, yard and depot solutions, AC and DC traction power supply solutions, contact lines and network control and intermodal solutions. The company also offers customer services for rail infrastructure throughout the entire lifecycle, such as maintenance and digital solutions. Siemens has presence in Europe, North America, the Middle East, South America, Africa, and Asia Pacific. The company operates in more than 100 countries globally and has a strong network of regional offices, warehouses, research and development facilities, and sales offices. The company has 16 corporate technology facilities for research and development and production and quality assurance globally that optimize its business processes.
Related Reports:
DC Switchgear Market by Voltage (Up to 750 V, 750 V to 1,800 V, 1,800 V to 3,000 V, 3,000 V to 10 kV and Above 10 kV), Deployment Type (Fixed Mounting, Plug-In, and Withdrawable Units), Application, and Region - Global Forecast to 2026
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