Global Switchgear Market Overview:
The rise in building construction will help to boost the global switchgear market. Switchgears are the switching devices intended to meter, protect, regulate and control power generation, electric motor control systems, and transmission & distribution equipment. Switchgear includes fuses, circuit breakers, and isolators. They are located on both the low-voltage and high-voltage side of large power transformers in substations. Increasing implementation of smart grid technology, growing demand for electricity, and ongoing investment in advancement transmission as well as distribution systems. Some of the key players profiled in the study are Xian XD Switch Gear Electric Co. Ltd. (China), Siemens AG (Germany), Schneider Electric SA (France), OJSC Power Machines (Russia), Mitsubishi Electric Corp. (Japan), GE Co. (United States), Eaton Corp. (Ireland), Crompton Greaves Ltd. (India), Alstom SA (France) and ABB Ltd. (Switzerland).
On the basis of geography, the market of 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). Europe region held largest market share in the year 2018. 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. If we see Market by Insulation, the sub-segment i.e. Air will boost the Switchgear market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Installation, the sub-segment i.e. Indoor will boost the Switchgear market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Voltage, the sub-segment i.e. Low Voltage will boost the Switchgear market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Current, the sub-segment i.e. AC will boost the Switchgear market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Residential & Commercial will boost the Switchgear market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Exponential Rise in Electricity Consumption
- High Adoption Due To Rise in Building Construction
Market Trend
- Growing Demand for Medium As Well As High Voltage Switchgears
- High Demand for Digital Switchgear
Restraints
- Increasing Raw Material Price Associated With Switchgear
Opportunities
- Growing Expenditure toward Infrastructural Development in Rural Areas of Developing Countries
- Rising Focus on Eco-Efficient Switchgear
On 29th March 2019, Siemens has expanded its portfolio for SF6-free medium-voltage switchgear, features include connection to IoT platforms integrated, "Clean Air" used as the F gas-free insulating medium.
The global switchgear market seems to be fragmented due to the existence of some established and local switchgear makers and is quite competitive. Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Target Audience:
Manufactures, Suppliers Distributors, Government Regulatory Bodies, Government and Private Research Organization and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Switchgear market on the basis of product [] , application [], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Switchgear market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Switchgear industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Hyosund Corp (South Korea) and Bharat Heavy Electricals Ltd. (India).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Switchgear market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.