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Switchboard Global Market Report 2023

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    Report

  • 175 Pages
  • February 2023
  • Region: Global
  • The Business Research Company
  • ID: 5735184

Quick Summary:

In the ever-evolving electrical industry, the global switchboard market stands out due to its imperative role in power distribution. Serving as the backbone of various industrial, residential, and commercial operations, switchboard sales significantly contribute to the overall electrical market growth. Enhancements in product manufacturing to ensure longer durability and innovation in technology, particularly in smart cities with efficient and safe connectivity, spur demand for switchboards.

Our market research report on the global switchboard market is a powerhouse of information and analysis. It provides invaluable insights into the prevailing trends, competitive landscape, and future growth opportunities. The regions analyzed include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Learn how major industry players like ABB, Mitsubishi Electric, and Schneider Electric are positioning themselves in this market. By understanding these dynamics, executives can make data-driven decisions and capitalize on emerging opportunities. Don’t miss the chance to stay ahead of the competition with our comprehensive switchboard market research report.

The global switchboard market will grow from $87.94 billion in 2022 to $92.72 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The switchboard market is expected to grow to $110.28 billion in 2027 at a CAGR of 4.4%.

The switchboard market consists of sales of ducts, fuses, cubicles, panel boards, power switchboards, and other switchboards. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Switchboards refer to the power distribution process system which consists of panels with different switches and indicators to direct and control electricity for functioning in circuits.

Asia Pacific was the largest region in the switchboard market in 2022. Western Europe was the second-largest region in the switchboard market. The regions covered in the switchboard market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of switchboards are low-voltage, middle-voltage and high-voltage. A low voltage distribution control panel is the main switchboard that ensures the reliability of an electrical system. It is the main component that distributes electricity throughout the various parts of a facility. The various product standard of switchboards includes IEC standard and ANSI standard that are used by industrial, residential, commercial and other end users.

Increasing manufacturing efficiency of products for longer durability increases demand for the switchboards. Major companies are highly focusing on innovations to design switchboards. Incorporation of new technologies within the production tends to improve its efficiency and service life of the products. For instance, Shanghai municipal government and ABB signed a memorandum and invested about $2.4 billion in China for upgradation of functionality in building smart city with smart manufacturing for efficient and safe connectivity in Shanghai’s local enterprises. Increase in efficiency drives the demand for switchboard, thereby contributing to the growth of the market.

The rising price of raw materials is expected to limit the growth of the switchboard market. The volatility of prices in raw materials such as copper, aluminium and steel are expected to have a significant impact on manufacturing cost of switchboards increasing the expenses of manufacturers. For instance, in late 2020’s, the Indian manufacturers of steel has increased the steel prices due to rising iron ore prices and strong demand for steel. In December 2020, the steel companies were charging around $34 to $37 (?2,500 to ?2,700) a ton of both flat and long products. Therefore, such fluctuations in raw material price effect the manufacturing cost of switchboards and this factor is expected to restrain the market growth of switchboard.

Ethernet connected switchboards are widely being used in household and commercial buildings to save energy and reduce maintenance costs. Switchboards can be connected to a computer through an Ethernet cable. Electricity use, system status and other data is transmitted to the computer through the Ethernet cable. Data obtained on the computer is analysed by energy experts and suggestions to minimize energy consumption. For example, Enerlin’x system manufactured by Schneider is a smart panel that transmits energy consumption data to computer through Ethernet and Modbus interfaces. Some of the major companies manufacturing Ethernet connected switchboards include Schneider Electric, Southwire Company LLC, Siemens AG and Prysmian Group.

In August 2021, Mitsubishi Electric Power Products, Inc. (MEPPI) and Mitsubishi Electric Corporation (MELCO) acquired U.K.-based Smarter Grid Solutions (SGS). SGS is a leading developer of software management solutions for the distributed energy resources (DER) market. Financial terms of the transaction were not disclosed. Globally, the power electric market has been trending toward decentralized generation sources, including DER and SGS' enterprise software solutions are used to manage power grids and market participation in energy systems with high penetrations of distributed, clean and flexible energy assets. SGS will report into Mitsubishi Electric Corporation's North American power systems subsidiary, Mitsubishi Electric Power Products, Inc., and will maintain operations in Glasgow, Scotland.

The countries covered in the switchboard market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The switchboard market research report is one of a series of new reports that provides switchboard market statistics, including switchboard industry global market size, regional shares, competitors with a switchboard market share, detailed switchboard market segments, market trends and opportunities, and any further data you may need to thrive in the switchboard industry. This switchboard market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Major players in the switchboard market are ABB, Mitsubishi Electric, Schneider Electric, Emerson Process Management, Rockwell Automation, Siemens, Powerwell, Gedac Electric, Kounis, and Aussie Switchboards.



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Frequently Asked Questions about the Global Switchboard Market

What is the estimated value of the Global Switchboard Market?

The Global Switchboard Market was estimated to be valued at $92.72 billion in 2023.

What is the growth rate of the Global Switchboard Market?

The growth rate of the Global Switchboard Market is 4.4%, with an estimated value of $110.28 billion by 2027.

What is the forecasted size of the Global Switchboard Market?

The Global Switchboard Market is estimated to be worth $110.28 billion by 2027.

Who are the key companies in the Global Switchboard Market?

Key companies in the Global Switchboard Market include ABB, Mitsubishi Electric, Schneider Electric, Emerson Process Management, Rockwell Automation, Siemens, Powerwell, GEDAC ELECTRIC, Kounis and Aussie Switchboards.

Table of Contents

1. Executive Summary

2. Switchboards Market Characteristics

3. Switchboards Market Trends And Strategies

4. Switchboards Market - Macro Economic Scenario
4.1 COVID-19 Impact On Switchboards Market
4.2 Ukraine-Russia War Impact On Switchboards Market
4.3 Impact Of High Inflation On Switchboards Market

5. Switchboards Market Size And Growth
5.1. Global Switchboards Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Switchboards Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Switchboards Market Segmentation
6.1. Global Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Low-Voltage
  • Middle-Voltage
  • High-Voltage
6.2. Global Switchboards Market, Segmentation By Product Standard, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • IEC Standard
  • ANSI Standard
6.3. Global Switchboards Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Industrial
  • Residential
  • Commercial
  • Other End-Users
7. Switchboards Market Regional And Country Analysis
7.1. Global Switchboards Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Switchboards Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific Switchboards Market
8.1. Asia-Pacific Switchboards Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Switchboards Market
9.1. China Switchboards Market Overview
9.2. China Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Switchboards Market
10.1. India Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Switchboards Market
11.1. Japan Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Switchboards Market
12.1. Australia Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Switchboards Market
13.1. Indonesia Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Switchboards Market
14.1. South Korea Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Switchboards Market
15.1. Western Europe Switchboards Market Overview
15.2. Western Europe Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Switchboards Market
16.1. UK Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Switchboards Market
17.1. Germany Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Switchboards Market
18.1. France Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Switchboards Market
19.1. Eastern Europe Switchboards Market Overview
19.2. Eastern Europe Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Switchboards Market
20.1. Russia Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Switchboards Market
21.1. North America Switchboards Market Overview
21.2. North America Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Switchboards Market
22.1. USA Switchboards Market Overview
22.2. USA Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Switchboards Market
23.1. South America Switchboards Market Overview
23.2. South America Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Switchboards Market
24.1. Brazil Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Switchboards Market
25.1. Middle East Switchboards Market Overview
25.2. Middle East Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Switchboards Market
26.1. Africa Switchboards Market Overview
26.2. Africa Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Switchboards Market Competitive Landscape And Company Profiles
27.1. Switchboards Market Competitive Landscape
27.2. Switchboards Market Company Profiles
27.2.1. ABB
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Mitsubishi Electric
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Schneider Electric
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Emerson Process Management
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Rockwell Automation
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

29. Key Mergers And Acquisitions In The Switchboards Market

29. Switchboards Market Future Outlook and Potential Analysis

30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright And Disclaimer

1. Executive Summary

2. Switchboards Market Characteristics

3. Switchboards Market Trends And Strategies

4. Impact Of COVID-19 On Switchboards

5. Switchboards Market Size And Growth
5.1. Global Switchboards Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Switchboards Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Switchboards Market Segmentation
6.1. Global Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Low-Voltage
  • Middle-Voltage
  • High-Voltage
6.2. Global Switchboards Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Industrial
  • Residential
  • Commercial
  • Other
7. Switchboards Market Regional And Country Analysis
7.1. Global Switchboards Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Switchboards Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific Switchboards Market
8.1. Asia-Pacific Switchboards Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Switchboards Market
9.1. China Switchboards Market Overview
9.2. China Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Switchboards Market
10.1. India Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Switchboards Market
11.1. Japan Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Switchboards Market
12.1. Australia Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Switchboards Market
13.1. Indonesia Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Switchboards Market
14.1. South Korea Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Switchboards Market
15.1. Western Europe Switchboards Market Overview
15.2. Western Europe Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Switchboards Market
16.1. UK Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Switchboards Market
17.1. Germany Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Switchboards Market
18.3. France Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Switchboards Market
19.1. Eastern Europe Switchboards Market Overview
19.2. Eastern Europe Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Switchboards Market
20.1. Russia Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Switchboards Market
21.1. North America Switchboards Market Overview
21.2. North America Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Switchboards Market
22.1. USA Switchboards Market Overview
22.2. USA Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Switchboards Market
23.1. South America Switchboards Market Overview
23.2. South America Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Switchboards Market
24.1. Brazil Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Switchboards Market
25.1. Middle East Switchboards Market Overview
25.2. Middle East Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Switchboards Market
26.1. Africa Switchboards Market Overview
26.2. Africa Switchboards Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Switchboards Market Competitive Landscape And Company Profiles
27.1. Switchboards Market Competitive Landscape
27.2. Switchboards Market Company Profiles
27.2.1. ABB
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Mitsubishi Electric
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Schneider Electric
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Emerson Process Management
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Rockwell Automation
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

29. Key Mergers And Acquisitions In The Switchboards Market

29. Switchboards Market Future Outlook and Potential Analysis

30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. About the Publisher
30.6. Copyright And Disclaimer

Executive Summary

Switchboard Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on switchboard market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Where is the largest and fastest growing market for switchboard? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The switchboard market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

Scope

Markets Covered

1) By Type: Low-Voltage; Middle-Voltage; High-Voltage
2) By Product Standard: IEC Stardard; ANSI Standard
3) By End Users: Industrial; Residential; Commercial; Other End-Users

Companies Mentioned: ABB; Mitsubishi Electric; Schneider Electric; Emerson Process Management; Rockwell Automation

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery format: PDF, Word and Excel Data Dashboard.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ABB
  • Mitsubishi Electric
  • Schneider Electric
  • Emerson Process Management
  • Rockwell Automation
  • Siemens
  • Powerwell
  • GEDAC ELECTRIC
  • Kounis
  • Aussie Switchboards
  • CandS Electric
  • Merriam-Webster
  • GE
  • Nilsen
  • Leoni
  • Mastervolt
  • Eaton
  • CUBIC
  • ROMAC
  • Rolla
  • IEM
  • CandS Electric

Methodology

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