Switchgear Market

ABB Ltd. (Switzerland) and Siemens AG (Germany) are the Leading players in the Switchgear Market

The switchgear market is expected to grow from an estimated USD 102.6 billion in 2019 to USD 143.5 billion by 2024, at a CAGR of 6.9%. Growing investments in renewable energy and demand for safe and secure electrical distribution systems have increased the demand for switchgear.

The switchgear market is dominated by few major players that have a wide regional presence. The leading players in the switchgear market are Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Eaton (Ireland).  

The major strategies adopted by the players include new product launches, investments & expansions, mergers & acquisitions, joint ventures, partnerships, and collaborations, and contracts & agreements. Contracts & Agreements were the most commonly adopted strategy from January 2016 to May 2019. These industry players also adopted new product launches and mergers & acquisitions as major strategies during that period.

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ABB (Switzerland) is a leading power technology and industrial automation company that offers a range of products, systems, solutions, and services to boost productivity, enhance the energy efficiency, and increases power reliability. It operates in 3 business segments—electrification products, robotics and motion, and industrial automation. The company manufactures switchgears through its electrification products segment. The electrification products segment produces and sells products and services, including electric vehicle charging, solar inverters, modular substation packages, measuring and sensing devices, control products, solar power solutions, and circuit breakers. ABB holds a total experience of more than 130 years and has expertise in digital technology development. The company has corporate research centers in 7 countries—China, India, Germany, Poland, Sweden, Switzerland, and the US. The company operates its business in more than 100 countries and has more than 300 manufacturing plants located in these countries.

Siemens (Germany) is a major technology company, with core business activities in the field of electrification, automation, and digitalization. The company operates its business through 9 major business divisions which include power & gas, energy management, building technologies, mobility, digital factory, process industries and drives, financial services, Siemens Gamesa Renewable Energy (SGRE), Healthineers, and Financial Services. Siemens operates in over 100 countries across the world. As of 30 September 2016, Siemens operates worldwide in more than 200 countries and operates in 289 major production and manufacturing plants worldwide. The company has many operating and holding subsidiaries around the globe.

Related Reports:

Switchgear Market by Insulation (GIS and AIS), Installation (Indoor and Outdoor), End User (T&D Utilities, Industries, Commercial and Residential), Voltage (Low, Medium, and High), and Geography – Global Forecast to 2024

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Report Code
EP 3021
RI Published ON
5/28/2019
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