Electrical Switchgear Market Scope
Over the past decades, the electrical industry has experienced robust business growth from the developing economies, which has ultimately led to upsurging adoption of electrical switchgear in numerous industry verticals including Oil and Gas, Chemical Industry, Electricity, Metallurgy, Mechanical, Food, and Pharmaceuticals. Electric switchgear is an integrated switching system with numerous components such as fuses or circuit breakers used to control, protect and isolate electrical equipment. It can be used in both energizing and de-energizing the electrical equipment. Aging electrical infrastructure from the developed economies will generate lucrative demand over the forecasted period. However, stringent government regulations on manufacturing sulfur hexafluoride (SF6) switchgear and concerns of E-waste might stagnate the demand for Electrical Switchgear.
The Electrical Switchgear market study is segmented and major geographies with country level break-up. According to AMA, the Global Electrical Switchgear market is expected to see growth rate of 6.84%
Research Analyst at AMA estimates that European and Asian Manufacturers will contribute to the maximum growth of Global Electrical Switchgear market throughout the predicted period.
Ingeteam Corporación, S.A. (France), Lucy Group Ltd (United Kingdom), GE Industrial Solutions (United States), C&S Electric Ltd (India), Schneider Electric SA (France), Eaton Corp. (Ireland), Ideal Electric Company (United States), Pacific Controls (United Arab Emirates), Safety Electrical Group (United Arab Emirates) and N C E Switchgear Ltd (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Voyten Electric & Electronics Inc (United States), Xian XD Switch Gear Electric Co. Ltd. (China), Siemens AG (Germany), OJSC Power Machines (Russia), Mitsubishi Electric Corp. (Japan) and Crompton Greaves Ltd. (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Electrical Switchgear market by Type, Application and Region.
On the basis of geography, the market of Electrical Switchgear has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). European region held largest market share in the year 2020. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
On July 16, 2019, ABB has introduced its next generation of automatic transfer switches (ATS) which has leveraged GE Industrial Solutions and ABB technologies to increase system reliability, connectivity, and ease of use. Upgrades to the Zenith ZTX and ZTG series from Industrial Solutions will feature ABB’s breakthrough TruONETM technology. The new ATS series is ranging from 30-1200 A and 200-480 Vac and it will be available for order through ABB Empower starting August 1.
Market Trend
- Increasing Need for Safe and Cost Saving Electric Switchgears
- Introduction to Electric Switchgears with Negliblle Operational Tolerance
Market Drivers
- Upsurging Adoption of Electrical Switchgears in Transmission and Distribution (T&D) Utilities
- Upsurging Electrical Infrastructure from the Developing Economies
Opportunities
- Aging Electrical Infrastructure from the Developed Economies will Generate Lucrative Demand
- Continues Technological Advancements in Electrical Component Manufacturing
Restraints
- Growing Environmental Concerns such as E-Waste
- Increasing Prevalence of Local Manufacture Dominance Leading to Escalating Competitive Rivalry
Challenges
- Stringent Government Regulations on Manufacturing Sulfur Hexafluoride (SF6) Switchgears
Key Target Audience
Electrical Switchgear Manufacturers, Electrical Switchgear Distributors and Traders, Electrical Industry Associations, Upstream and Downstream Buyers, Government Agencies, Research and Development Institutes and Others
Customization available in this Study:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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