Switchgear Market

Siemens (Germany) and Schneider Electric (France) are leading players in Switchgear Market

The global switchgear market is expected to reach USD 120.1 billion by 2027 from an estimated USD 90.9 billion in 2022, at a CAGR of 5.7% from 2022 to 2027. Switchgear is an integral part of an electric power system. Switchgear protects electrical hardware from incorrect situations. Electrical switchgear is used in low and high-voltage power transformers and is connected to electric supply networks. It de-energizes the system so that maintenance and repairs can be performed to fix problems. With a range of controls enclosed in a metal container, electrical switchgear regulates, protects, and isolates a power system. This is a critical system in industrial environments and electrical utilities that deal with electrical failures or need to de-energize equipment for maintenance.

There are several types of switchgear, each with a different voltage level—high voltage (HV), medium voltage (MV), and low voltage (LV) switchgear. A few major players have a wide regional presence and dominate the switchgear market. The leading players in the switchgear market include ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), Eaton (Ireland).

Product launches are among the key growth strategies adopted by leading companies such as ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland) to boost their position in the switchgear market. Companies operating in this market also focus on partnerships, sales contracts, agreements, product launches, acquisitions, contracts, joint ventures, expansions, and investments to increase their market shares and expand their geographic presence.

Schneider Electric is an energy management and automation solution provider and a leading digital transformation company. The company operates through two segments: Energy Management and Industrial Automation. Switchgears are offered by the Energy Management segment. The Energy Management segment leverages low-voltage, medium-voltage, and secure power that all share the same objective of managing energy efficiently and reliably. The company holds expertise in power equipment offerings and operates its business through primary divisions, including Medium Voltage (Infrastructure), Low Voltage (Building), Secure Power (IT), and Industrial Automation (Industry). Its Low Voltage (Building) segment offers products for residential and commercial buildings, industries, infrastructures, and data centers. The products include power monitoring devices, power meters, and circuit breakers. The product portfolio under the Medium Voltage (Infrastructure) segment includes switchgears and their monitoring systems, power monitoring and control software, transformers, remote control systems, and medium-voltage/low-voltage substations. Schneider Electric focused on product launches and expansions for the switchgear market. The company launched several products in this market. Many of the product launches like the BlokSeT LV switchboard, PrismaSeT Active switchboards, next-generation TransferPacT Automatic Transfer Switching Equipment (ATSE), and TeSys Giga series incorporated next-generation technologies.

Siemens is a major technology company with core business activities in the field of electrification, automation, and digitalization. The company operates through six business divisions—Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, Siemens Financial Services (SFS), and Portfolio Companies. The company offers switchgears under its Smart Infrastructure segment. The Smart Infrastructure segment is structured into three businesses: Buildings, Electrification, and Electrical Products. The electrical products offered include low-voltage switching, measuring, and control equipment; low-voltage distribution systems and switchgears; and circuit breakers, contactors, and switching equipment for medium voltage. The research & development efforts of Smart Infrastructure are focused on decarbonized and sustainable infrastructures in electrification, distribution grids, and buildings. It creates digital offerings for the energy sector, such as renewable energy integration into traditional grids. Siemens mostly focuses on strengthening its market position through product launches, contracts, sales contracts, expansions, and acquisitions. Siemens also acquired 99% of C&S Electric Limited. This acquisition strengthened Siemens’ position as a key supplier of low-voltage power distribution and electrical installation technologies in one of the world’s fastest-growing economies. These are the few strategic choices adopted by Siemens.

Related Reports:

Switchgear Market by Insulation (Gas-insulated Switchgears, Air-insulated Switchgears), Installation (Indoor, Outdoor), Current (AC, DC), Voltage (Low (up to 1 kV), Medium (2–36 kV), High (Above 36 kV), End User and Region - Global Forecast to 2027

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Switchgear Market Size,  Share & Growth Report
Report Code
EP 3021
RI Published ON
5/27/2022
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