“The worldwide switchgear market is expected to achieve $152.5bn by 2029”, says Visiongain report

05 September 2019

Visiongain’s new report the Switchgears Market Report 2019-2029: Forecasts by Application (Substation, Distribution, Power Factor Correction, Sub Distribution, Motor Control), by Product (Miniature Circuit Breakers (MCB), Residual Circuit Breaker with Overload (RCBO), Residual Current Circuit Breakers (RCCB), Molded Case Circuit Breakers (MCCB), Air Circuit Breakers (ACB), Control Gears), by Construction Type (Indoor, Outdoor, Industrial, Utility, Marine, Draw Out, Fixed, Live-Front, Dead-Front, Open, Metal-Enclosed, Metal-Clad, Arc-Resistant), by Installation (Indoor, Outdoor, by Interrupting Device, Fuse, Air Breaker, Oil Breaker, Gas Sf6 Breaker), by Voltage Class (Low, Medium, High) by Insulating Medium (Air, Gas, Oil, Vacuum), by Operating Method (Manual, Motor, Solenoid), by Type of Current (AC/DC), by Application (Transmission, Distribution), by Purpose (Isolating Switch, Load-Break, Grounding) Plus Leading Company Analysis and Regional and Leading National Market Analysis.

This latest report by business intelligence provider Visiongain assesses that Switchgears Market spending will reach $101.2 bn in 2019. Switchgear is a wide word covering electrical distribution systems consisting of metal clad or metal clad cabinets comprising switches or circuit breakers The worldwide switchgear market is expected to achieve USD 152.5 billion by 2029 at a CAGR of 5.9 percent. Growing investment in renewable energy and enhanced demand for safe and secure electrical distribution systems.

The Gas Insulated Segment (GIS) will account during the forecast period for the biggest contribution on the switchgear market by isolation.

The study divides the switchgear industry into GIS and AIS by isolation. It is anticipated that the GIS form will hold the biggest market share by 2029. They are primarily used in industrial fields to meet high energy requirements by designing minimal cost space-saving. GIS is implemented in separate sectors to meet distinct requirements at different voltage concentrations. That would drive GIS demand.

By End-User, The T&D Utilities Segment Is Expected To Grow At The Fastest Rate During The Forecast Period.

The section of T&D utilities is accountable for energy generation, transmission and distribution. Electrical utilities include investor-owned and publicly-owned cooperatives and nationalized companies, the world's largest electricity suppliers in most nations. On the other side, in areas such as North America and Europe, which drives the switchgear industry, increasing legislation promoting reliable, uninterrupted energy supply is increasingly being enacted.

The Embedded LV Switchgear Market For Circuit Breakers Is Expected To Expand By More Than 6 Percent By 2029

The embedded LV switchgear market for circuit breakers is expected to expand by more than 6 percent by 2029. Ability to reset operational safety poses enormous potential for development across networks with frequent present failures and failures. In addition, these units will further increase the company situation due to their broad applicability across utility and industrial facilities. Low unit cost and fast response time compared to their competitive counterparts support fuse installation across the low voltage switchgear market. In addition, significant integration across circuits that induce delicate electronic equipment in combination with increased demand for intelligent control systems will further improve product demand.

Fixed Assembled Devices Retained Over 40% Of The General Market Share Of Low Voltage Switchgear

In 2018, fixed assembled devices retained over 40% of the general market share of low voltage switchgear. The implementation of restricted adjacent components together with low failure rates has significantly influenced the installation of the item across the industry landscape. The plug-in low voltage switchgear market will be upgraded by easy installation along with efficient mechanical stabilization. The rapid integration of mobile multifunctional modules across offshore wind farms, railways and digital substations will fuel product penetration further.

It is anticipated that the ambient 1000 Ampere LV switchgear market will grow with decent rate. Together with decentralized networks, the products due to broad applicability across process industries, energy and infrastructure sectors will experience significant development across the forecast timeline. Due to their broad commercial & small-scale industrial applications, the 1001 to 5000 Ampere LV switchgear market has acquired momentum in latest years. Increasing demand for manufactured goods combined with versatile activities of products across main and secondary distribution networks will further increase the development of the sector.

In line with the consumer's tendency to integrate intelligent LV control devices across residential peripherals, the 250 Volt LV switchgear market will see development of over 7%

In line with the consumer's tendency to integrate intelligent LV control devices across residential peripherals, the 250 Volt LV switchgear market will see development of over 7%. The basic energy alteration function together with versatile product applicability across blowers, fans, elevators, engines and pumps will further enhance product demand. > 750 Volt LV switchgear market is expected to grow in the semiconductor, heavy assembly, automotive, pharmaceutical and biotech industries due to their large-scale applicability. In addition, ongoing adoption of LV units across airports correctional facilities, water treatment plants, co-generation plants and critical power applications will further boost the business growth

The market for low-voltage indoor switchgear is expected to expand as a result of an increase in the real estate industry across emerging countries

The market for low-voltage indoor switchgear is expected to expand as a result of an increase in the real estate industry across emerging countries. The basis for a competitive company situation has been paved by substantial development in government infrastructural investments along with private financing organizations.

 The market size of outdoor low voltage switchgear is forecast to witness growth

The market size of outdoor low voltage switchgear is forecast to witness development due to the continuing development of power distribution infrastructure supported by utilities. The wide-ranging integration of distributed power generation techniques together with widespread industrial development will further enhance company potential.

Growing demand for rapid fault clearance facility favored by improving product efficiencies will increase demand for the market for low voltage DC switchgear

Less heat generation, cost-effective losses, flexible and efficient high-end voltage levels were few essential parameters driving the low voltage AC switchgear industry. Effective characteristics and economic activities together with ease of present modulation will further enhance the perspective for the sector. Growing demand for rapid fault clearance facility favored by improving product efficiencies will increase demand for the market for low voltage DC switchgear. The availability of operational assistance for interconnecting AC circuits favored by reduced operational losses will further enhance the implementation of the product. 

Power utilities for medium and high voltage switchgears are the biggest end-use segment

Power utilities for medium and high voltage switchgears are the biggest end-use segment. Market growth for medium and high voltage switchgears is generally backed by enhanced investment in transmission and distribution infrastructure and upgrading of the outdated infrastructure accounting for a 47 percent dominant share, Asia Pacific has emerged as the biggest switchgear market worldwide. This is motivated by fast industrial and infrastructural growth in emerging economies such as China, India, Vietnam and Indonesia. In North America and Western Europe, the switchgear demand is being driven by the increased focus on renewable energy to curb carbon emissions

Leading Players

Hyosung Corporation
Hyundai Electric & Energy Systems
Powell Industries
Hitachi Limited
General Electric
ABB Limited
Eaton Corporation
Mitsubishi Electric Corporation
Schneider Electric
Siemens AG
E + I Engineering Ltd.

Manufacturing And Process Sectors Will Support Growth Of Switchgears

In the present system, manufacturing and process sectors are crucial to investment and income realization across certain countries. Developed economies rely on produced & processed goods that drive utility & installer preferences towards the inclusion of efficient distribution, which in turn will increase the market share of low voltage (LV) switchgear. In relation to the establishment of electrical infrastructure, utility-aided distribution grid networks have since been affected by regulatory and government directives. Advantageous public regulations on rural electrification and the inclusion of decentralized micro-grid networks across grid-isolated regions will complement the market perspective for low-voltage switches.

The comprehensive report offers market estimation and forecast for the period ranging 2019 – 2029 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of advanced energy storage systems.

The Switchgears Market Report 2019-2029 report will be of value to anyone who wants to better understand the energy storage market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the energy industry.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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