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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

  • ID: 4773735
  • Report
  • Region: Global
  • 162 Pages
  • Markets and Markets
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The Switchgear Market is Projected to Grow at a CAGR of 6.9% from 2019 to 2024

FEATURED COMPANIES

  • ABB
  • CG Power
  • Fuji Electric
  • Hitachi
  • Hyosung
  • Larsen & Toubro
  • MORE

The switchgear market is projected to reach USD 143.5 billion by 2024 from an estimated USD 102.6 billion in 2019, 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. However, the high cost of equipment and stringent regulations for SF6 switchgears could act as a restraint for the market.

The gas insulated switchgear segment, by insulation, is expected to be the fastest growing market from 2019 to 2024

The Gas Insulated Switchgear (GIS) segment is expected to hold the largest market share in 2019 and is projected to be the fastest growing segment during the forecast period. They are mainly used in industrial areas to fulfill high-energy demands through a space-saving design of minimum cost. The gas insulated switchgears are deployed in various industries, serving different needs at varying voltage levels. Many developed countries have also started improving their T&D network to ensure safety and security with the help of switchgears.

The indoor segment, by installation, is expected to be the largest market from 2018 to 2023

The hardware segment is expected to hold the largest market share during the forecast period because of its vast implementation. The renewable sector is also assisting the growth of the indoor switchgear market, with many solar and wind power plant projects deploying indoor switchgear as an integral part of their power generation and distribution network. Asia Pacific is expected to hold the largest market for indoor with rapid adoption in countries such as China and India.

Rapid expansion of power plants and transmission lines to meet the growing electricity requirements is expected to drive the T&D utilities segment between 2019 and 2024

The T&D utilities segment, by end user, held the largest market share in 2018 and is estimated to be the fastest growing segment during the forecast period because the utilities segment is responsible for the generation, transmission, and distribution of electricity. Electric utilities include investor-owned and publicly-owned cooperatives and nationalized entities, which are the major providers of electricity in most of the countries, worldwide.

Europe: The second fastest growing market for switchgear

The European region is expected to be the second fastest growing market for switchgear by 2024. The European power generation, transmission, and distribution systems are comparatively mature. Therefore, the EU is focusing on upgrading its aging infrastructure, integrating renewable energy sources such as solar and wind power, and building interconnections to enable more efficient power and energy trading. This would also require additions and replacement of old switchgear.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

  • By Company Type: Tier 1 - 60%, Tier 2 - 23%, and Tier 3 - 17%
  • By Designation: C-Level - 35%, Director Level - 25%, and Others - 40%
  • By Region: Asia Pacific - 30%, Europe - 23%, North America - 19%, Middle East & Africa - 15%, and South America - 13%

Note: Others include sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined on the basis of their total revenue as of 2017. Tier 1: USD 1 billion, Tier 2: From USD 1 billion to USD 500 million, and Tier 3: <USD 500 million.
The switchgear market is dominated by a 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).

Research Coverage:
The report defines, describes, and forecasts the switchgear, by insulation, installation, end user, voltage, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the switchgear market.

Why Buy this Report?

  • The report identifies and addresses key markets for switchgear, which would help manufacturers review the growth in demand.
  • The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
  • The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ABB
  • CG Power
  • Fuji Electric
  • Hitachi
  • Hyosung
  • Larsen & Toubro
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitation
1.7 Stakeholders

2 Research Methodology
2.1 Market Size Estimation
2.1.1 Ideal Demand-Side Analysis
2.1.1.1 Assumptions
2.1.2 Supply-Side Analysis
2.1.2.1 Calculation
2.1.3 Forecast
2.2 Some of the Insights of Industry Experts

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Switchgear Market During the Forecast Period
4.2 Switchgear Market, By Region
4.3 Asia Pacific Switchgear Market,  By Insulation & Country
4.4 Switchgear Market, By Insulation
4.5 Switchgear Market, By End-User
4.6 Switchgear Market, By Installation
4.7 Switchgear Market, By Voltage

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Aging Power Infrastructure
5.2.1.2 Revival of Investments in the Construction Sector
5.2.1.3 Growing Investments In Renewable Energy
5.2.2 Restraints
5.2.2.1 Harsh Environmental Conditions
5.2.2.2 Increasing Competition From the Unorganized Sector of the Switchgear Market
5.2.3 Opportunities
5.2.3.2 Execution of Performance-Based Incentive Schemes and Definite Service Programs to Provide Continuous and Hassle-Free Electricity to The End Users
5.2.3.3 Adoption of Hvdc Technology
5.2.4 Challenges
5.2.4.1 High Cost of Switchgear
5.2.4.2 Stringent Environmental and Safety Regulations for Sf6 Switchgears

6 Switchgear Market, By Insulation
6.1 Introduction
6.2 GIS
6.2.1 Asia Pacific Holds the Largest Region for GIS Switchgear Market
6.3 AIS
6.3.1 Asia Pacific is Expected to Grow at the Fastest CAGR From 2019–2024

7 Switchgear Market, By Installation
7.1 Introduction
7.2 Indoor
7.2.1 Europe is the Second Largest Market for Indoor Segment
7.3 Outdoor
7.3.1 Asia Pacific is the Largest Market for Outdoor Segment

8 Switchgear Market, By End-User
8.1 Introduction
8.2 T&D Utilites
8.2.1 Rising Investments in T&D Networks is Expected to Drive the T&D Utilities Segment
8.3 Industries
8.3.1 Reduced Industrial Downtime and Improved Efficiency are Major Factors Driving Growth of Switchgear in Industries Segment
8.4 Commercial & Residential
8.4.1 Asia Pacific Holds the Largest Market for Switchgear in Commercial & Residential Segment
8.5 Others

9 Switchgear Market, By Voltage
9.1 Introduction
9.2 Low Voltage
9.2.1 Asia Pacific is the Largest Market for Low Voltage Switchgear
9.2 Medium Voltage
9.2.1 Aeurope is the Second Largest Market for Medium Voltage Switchgear
9.3 High Voltage
9.3.1 Asia Pacific is Expected to Grow at the Fastest CAGR During the Forecast Period

10 Switchgear Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.2.1 China
10.2.1.1 Increasing Investment in Digital Substation and Switchgear is Expected to Drive the Chinese Switchgear Market
10.2.2 India
10.2.2.1 GIS Segment is Expected to Dominate the Indian Switchgear Market
10.2.3 Japan
10.2.3.1 Strong Emphasis on Energy Efficiency and Security Through Smart Grids is Expected to Drive the Japanese Switchgear Market
10.2.4 Australia
10.2.4.1 Rising Investment in Renewables, Distribution Infrastructure,  and Connectivity Will Drive the Australian Switchgear Market
10.2.5 Rest of Asia Pacific
10.2.5.1 Indonesia, Singapore, and Malaysia are Expected to Lead the Rest of Asia Pacific Market
10.3 North America
10.3.1 US
10.3.1.1 Large Planned Capex in Power Generation Infrastructure Will Drive the US Switchgear Market
10.3.2 Canada
10.3.2.1 GIS Segment is Expected to Be the Fastest Growing Market in Canada
10.3.3 Mexico
10.3.3.1 Investments in Electric Power Infrastructure and Smart Grid Have Created Opportunity for the Mexican Switchgear Market
10.4 Europe
10.4.1 Germany
10.4.1.1 Investments in Renewables, Government Focus on Energy Efficiency, and Replacement Opportunity for Aging Infrastructure are Major Factors Contributing to the Growth of the German Switchgear Market
10.4.2 UK
10.4.2.1 GIS Segment is Expected to Dominate the UK Switchgear Market
10.4.3 Russia
10.4.3.1 Strong Investment in T&D Infrastructure is Expected to Drive the Russian Switchgear Market
10.4.4 France
10.4.4.1 Utilities Segment is Expected to Dominate the French Switchgear Market
10.4.5 Rest of Europe
10.4.5.1 Italy and Spain are Expected to Lead the Rest of Europe Market
10.5 Middle East & Africa
10.5.1 Saudi Arabia
10.5.1.1 GIS Segment is Expected to Be the Fastest Growing Market in Saudi Arabia
10.5.2 UAE
10.5.2.1 Utilities Segment is Expected to Dominate the UAE Switchgear Market
10.5.3 Kuwait
10.5.3.1 Strong Investment in Power Generation and Distribution is Likely to Drive the Kuwaiti Switchgear Market
10.5.4 South Africa
10.5.4.1 Rising Investment in Power Capacity Addition and Energy Efficiency Will Drive the South African Switchgear Market
10.5.5 Rest of Middle East & Africa
10.5.6 Qatar, Nigeria, and Algeria are Expected to Drive the Rest of Middle East & Africa Market
10.6 South America
10.6.1 Brazil
10.6.1.1 GIS Segment is Expected to Dominate the Brazilian Switchgear Market
10.6.2 Argentina
10.6.2.1 Utilities Segment Will Dominate the Argentinian Switchgear Market
10.6.3 Rest of South America
10.6.3.1 Ecuador, Bolivia, Uruguay, and Chile are Expected to Lead the Rest of South America Market

11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping (Overall Market)
11.3.1 New Product Development Dynamic Differentiators
11.3.2 Innovators
11.3.3 Visionary Leaders
11.3.3 Emerging Companies
11.3 Competitive Scenario
11.3.1 New Product Development
11.3.2 Mergers & Acquisitions
11.3.3 Contracts & Agreements

12 Company Profile
12.1 Schneider Electric
12.1.1 Business Overview
12.1.2 Products Offered
12.1.3 Recent Developments
12.1.4 Publisher View
12.2 General Electric
12.2.1 Business Overview
12.2.2 Products Offered
12.2.3 Publisher View
12.3 ABB
12.3.1 Business Overview
12.3.2 Products Offered
12.3.3 Recent Developments
12.3.4 Publisher View
12.4 Siemens AG
12.4.1 Business Overview
12.4.2 Products Offered
12.4.3 Recent Developments
12.4.4 Publisher View
12.5 Eaton
12.5.1 Business Overview
12.5.2 Products Offered
12.5.3 Publisher View
12.6 Hyosung
12.6.1 Business Overview
12.6.2 Products Offered
12.6.3 Recent Developments
12.6.4 Publisher View
12.7 CG Power
12.7.1 Business Overview
12.7.2 Products Offered
12.8 Toshiba
12.8.1 Business Overview
12.8.2 Products Offered
12.9 Hitachi
12.9.1 Business Overview
12.9.2 Products Offered
12.10 Hyundai
12.10.1 Business Overview
12.10.2 Products Offered
12.11 Fuji Electric
12.11.1 Business Overview
12.11.2 13.11.2 Products Offered
12.11.3 Publisher View
12.12 Hubbell
12.12.1 Business Overview
12.12.2 Products Offered
12.13 Mitsubishi Electric Corporation
12.13.1 Business Overview
12.13.2 Products Offered
12.13.3 Publisher View
12.14 Larsen & Toubro
12.14.1 Business Overview
12.14.2 Products Offered
12.14.3 Publisher View
12.15 Lucy Electric
12.15.1 Business Overview
12.15.2 Products Offered
12.15.3 Publisher View
12.16 Powell Industries
12.16.1 Business Overview
12.16.2 Products Offered
12.16.3 Publisher View
12.17 SEL
12.17.1 Business Overview
12.17.2 Products Offered
12.17.3 Publisher View
12.18 C&S Electric
12.18.1 Business Overview
12.18.2 Products Offered
13.18.3 Publisher View

13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

List of Tables
Table 1 Switchgear Market Snapshot
Table 2 All Industry Equipment Failure Rate
Table 3 Solar and Wind Renewable Energy Targets By Major Countries
Table 4 Switchgear Market Size, By Type, 2017–2024 (USD Million)
Table 5 GIS: Switchgear Market, By Region, 2017–2024 (USD Million)
Table 6 AIS: Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 7 Switchgear Market Size, By Installation, 2017–2024 (USD Million)
Table 8 Indoor: Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 9 Outdoor: Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 10 Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 11 Utilities: Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 12 Industries: Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 13 Commercial & Residental: Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 14 Others: Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 15 Switchgear, By Voltage, 2017–2024 (USD Million)
Table 16 High Voltage: Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 17 Medium Voltage: Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 20 Low Voltage: Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 22 Switchgear Market Size, By Region, 2017–2024 (USD Million)
Table 23 Asia Pacific: Switchgear Market Size, By Country, 2017–2024 (USD Million)
Table 24 Asia Pacific: Market Size, By Insulation, 2017–2024 (USD Million)
Table 25 Asia Pacific: Market Size, By Installation, 2017–2024 (USD Million)
Table 26 Asia Pacific: Market Size, By End-User, 2017–2024 (USD Million)
Table 27 Asia Pacific: Market Size, By Voltage, 2017–2024 (USD Million)
Table 30 China: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 32 India: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 34 Japan: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 36 Australia: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 38 Rest of Asia Pacific: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 39 North America: Switchgear Market Size, By Country, 2017–2024 (USD Million)
Table 40 North America: Market Size, By Insulation, 2017–2024 (USD Million)
Table 41 North America: Market Size, By Installation, 2017–2024 (USD Million)
Table 42 North America: Market Size, By End-User, 2017–2024 (USD Million)
Table 43 North America: Market Size, By Voltage, 2017–2024 (USD Million)
Table 46 US: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 48 Canada: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 50 Mexico: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 51 Europe: Switchgear Market Size, By Country, 2017–2024 (USD Million)
Table 52 Europe: Market Size, By Insulation, 2017–2024 (USD Million)
Table 53 Europe: Market Size, By Installation, 2017–2024 (USD Million)
Table 54 Europe: Market Size, By End-User, 2017–2024 (USD Million)
Table 55 Europe: Market Size, By Voltage, 2017–2024 (USD Million)
Table 58 Germany: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 60 UK: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 62 Russia: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 64 France: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 66 Rest of Europe: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 67 Middle East & Africa: Switchgear Market Size, By Country, 2017–2024 (USD Million)
Table 68 Middle East & Africa: Market Size, By Insulation, 2017–2024 (USD Million)
Table 69 Middle East & Africa: Market Size, By Installation, 2017–2024 (USD Million)
Table 70 Middle East & Africa: Market Size, By End-User, 2017–2024 (USD Million)
Table 71 Middle East & Africa: Market Size, By Voltage, 2017–2024 (USD Million)
Table 74 Saudi Arabia: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 76 UAE: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 78 Kuwait: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 80 South Africa: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 81 Rest of Middle East & Africa: Switchgear Market Size, By Insulation, 2017–2024 (USD Million)
Table 82 Rest of Middle East & Africa: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 83 South America: Switchgear Market Size, By Country, 2017–2024 (USD Million)
Table 84 South America: Switchgear Market Size, By Insulation, 2017–2024 (USD Million)
Table 85 South America: Switchgear Market Size, By Installation, 2017–2024 (USD Million)
Table 86 South America: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 87 South America: Switchgear Market Size, By Voltage, 2017–2024 (USD Million)
Table 90 Brazil: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 92 Argentina: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 94 Rest of South America: Switchgear Market Size, By End-User, 2017–2024 (USD Million)
Table 95 ABB Was Most Active Player in Market Between 2016 and 2019

List of Figures
Figure 1 Transmission & Distribution Investment & Key End-User Growth Rate are the Determining Factors for the Global Switchgear Market
Figure 2 Switchgear Market
Figure 3 Asia Pacific Dominated the Switchgear Market in 2017
Figure 4 Gas Insulated Switchgear Segment is Expected to Hold the Largest Share During the Forecast Period
Figure 5 Indoor Segment is Expected to Lead the Switchgear Market During the Forecast Period
Figure 6 Utilities Segment is Expected to Lead the Switchgear Market During the Forecast Period
Figure 7 High Voltage Segment is Expected to Lead the Switchgear Market During the Forecast Period
Figure 9 Demand for Safe and Secure Electrical Distribution is Driving the Switchgear Market, 2019–2024
Figure 10 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 12 GIS Segment is Expected to Dominate the Switchgear Market During the Forecast Period
Figure 13 T&D Utilities Segment is Estimated to the Switchgear Market, By End-User, During the Forecast Period
Figure 15 High Voltage Segment Dominated the Switchgear Market, By Voltage, During the Forecast Period
Figure 16 Switchgearmarket: Drivers, Restraints, Opportunities, & Challenges
Figure 18 GIS Segment is Expected to Lead the Switchgear Market From 2019 to 2024
Figure 19 Switchgear Market, By Installation, 2019–2024 (USD Million)
Figure 20 Switchgear Market, By End-User, 2019–2024 (USD Million)
Figure 21 High Voltage Segment is Expected to Lead the Switchgear Market From 2019 to 2024
Figure 23 Regional Snapshot: Asia Pacific Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Switchgear Market Share (Value), By Region, 2024
Figure 25 Asia Pacific: Regional Snapshot
Figure 26 North America: Regional Snapshot
Figure 27 Key Developments in the Switchgear Market, January 2016–May 2019
Figure 28 Ranking of Key Players, 2018
Figure 29 Schneider Electric.: Company Snapshot
Figure 30 General Electric: Company Snapshot
Figure 31 ABB: Company Snapshot
Figure 32 Siemens AG: Company Snapshot
Figure 33 Eaton: Company Snapshot
Figure 34 Mitsubishi Electric Corporation: Company Snapshot

Note: Product cover images may vary from those shown
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  • ABB
  • C&S Electric
  • CG Power
  • Eaton
  • Fuji Electric
  • General Electric
  • Hitachi
  • Hubbell
  • Hyosung
  • Hyundai
  • Larsen & Toubro
  • Lucy Electric
  • Mitsubishi Electric Corporation
  • Powell Industries
  • Schneider Electric
  • SEL
  • Siemens AG
  • Toshiba
Note: Product cover images may vary from those shown
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