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Medium Voltage Switchgear Market Size, Share and Global Trend By Installation (Indoor, Outdoor), By Insulation Medium (Air, Oil, Gas, Others), By Application (Residential, Commercial, Industrial, Utility), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI100927 | Status : Ongoing

 

KEY MARKET INSIGHTS

The ongoing digitalization and severe consumption of electrical and electronic appliances have made electricity an essential commodity. However, when it comes to electrical distribution, it needs to be done in a safe and secure manner to prevent any mishap or loss of life. It is essential to maintain safety at all level of distribution units, but it is quite complex to install safety devices and mechanism. Switchgear is one of the most popular ones with superficial functions and features that provide sufficient segmentation of the MV system to reduce the extent of circuit outage during electrical work on cables and power stations.

It helps in clearing and identifying various faults in circuits and also prevent any damage to equipment. In much industrial application, special attention needs to be given to surge or overload protection in which switchgear plays a crucial role in the constant distribution of power to the machines. Thus in many applications, switchgear is an essential component for the safe operating condition that expected to raise its demand in forthcoming years.

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A Medium Voltage Switchgear can be classified on the basis of Installation, Insulation Medium, and Medium. Indoor medium voltage switchgear is generally gas-insulated and employed where the cost of the land is more, or there is space constraint. Outdoor medium voltage switchgear is the most cost-effective switchgear as it uses air as an insulating medium. Thus switchgear is essential in a number of applications in an air furnace, railway traction, transmission and distribution of electricity and many more.

Many countries are focussing on increasing the accessibility of electricity by grid infrastructure and replacement of aging infrastructure that drives the medium voltage switchgear market. Ongoing digitalization and higher consumption of electrical & electronic appliances play an essential role in the growth of the medium voltage switchgear market.

The overall cost of the switchgear is high, and regular maintenance needs to be taken for that increase the total operational cost. Also, the SF6 gas used in gas-insulated switchgear is contributing to GHG emission that slows down the growth of the medium voltage switchgear market.

Key Players Covered


The key players for medium voltage switchgear market are Eaton, Schneider Electric, General Electric, Mitsubishi Electric Corporation, ABB, Jyoti Ltd., Siemens, Fuji Electric Co., Ltd., Toshiba International Corporation, SENTEG Schaltanlagen f         - r Energietechnik GmbH, Hyundai Electric & Energy Systems Co., Ltd., Hyosung Heavy Industries, and Efacec.

SEGMENTATION


























SEGMENTATION


 DETAILS


By Installation


· Indoor

· Outdoor


By Insulation Medium


· Air

· Oil

· Gas

· Others


By Application


· Residential

· Commercial

· Industrial

· Utility


By Geography


· North America (USA and Canada)

· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

· Latin America (Brazil, Mexico and Rest of Latin America)

· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)


 

Regional Analysis


The global Medium Voltage Switchgear market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to see a significant growth in medium voltage switchgear market owing to the replacement of aging infrastructure, growing urban density, high consumption of electricity. The adoption of advanced technology in Europe such as microgrid and smart grid for better effective transmission and distribution of electricity. Subsequently, the growing demand for renewable energy such as solar and wind power fuelling the demand for medium voltage switchgear. The Asia Pacific is poised to grow due to substantial socio-economic factors such as massive population, intense demand for electricity, infrastructure development and governments schemes for easy access to electricity is expected to increase the demand for medium voltage switchgear. MEA is experiencing a lot of investment for electrification project as many international organizations such as the World Bank, UN came forward for easy access to electricity in African countries that drives the medium voltage switchgear market.

Key Industry Developments




  • In January 2019, Eaton made an agreement to acquire an 82.275% controlling stakes of Ulusoy Electrik, a leading switchgear manufacturer in Ankara, Turkey for its expanding business in Europe & MEA.
  • In November 2018, Mitsubishi has won a contract worth $1.7m for new waste to energy plant in the UK with a capability to process 200,000 tonnes a year of post-recycled municipal solid waste. Mitsubishi Electric will supply 11kV medium voltage switchgear, power and distribution transformers, PLC hardware, and project management services.
  • In June 2018, Schneider Electric introduced CBGS-0 new medium voltage switchgear in the market that has gas-insulated switchgear with solid dielectric busbar with application up to 38kV, 2000A, and 31.5A.




  • Ongoing
  • 2023
  • 2019-2022

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