Press Release

Switchgear Market High Capita Expenditure And High Growth Rate Till 2026 | Fortune Business Insights

The global switchgears market is likely to derive growth from the increasing product variations and availability in a wide range of voltages and power ratings. According to a report published by Fortune Business Insights, titled “Switchgear Market Size, Share & Industry Analysis, By Insulation (Gas, Air, Oil, Vacuum), By Voltage (Low, Medium, High), By End-User (T&D Utility, Industrial, Commercial & Residential), By Installation (Indoor, Outdoor) and Regional Forecast, 2019-2026,” the market was valued at USD 98.08 Billion in 2018 is projected to reach USD 168.17 Billion by 2026, exhibiting a CAGR of 6.84% during the forecast period.

Request a Sample Copy of the Global Market Research Report https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/switchgear-market-100815

Top Players

  • ABB
  • Schneider Electric
  • Hitachi
  • Kirloskar Electric Co. Ltd.
  • Hubbell Incorporated
  • Mitsubishi Electric
  • Siemens Energy
  • Toshiba International Corporation
  • CG Power and Industrial Solutions Limited
  • Fuji Electric Co., LTD.
  • Powell
  • L&T Electrical & Automation
  • HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.
  • Hyosung Corporation
  • Lucy Electric
  • E+I Engineering

Key Market Driver

  • Growing demand in transmission & distribution infrastructure in emerging economies.
  • Emerging Small and Medium enterprises market in different sectors.

Key Market Restraint –   

  • Fluctuations in the availability of raw materials poses threat to stable prices and production costs.

Have Any Query? Ask Our Research Experts https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/switchgear-market-100815

Switchgears are used in electric power system that functions as circuit breakers. Switchgears are used to disconnect fuses and set of switches in cases of malfunction or failures. In operations that involve high voltages and current flow, safety becomes an integral part of the overall functioning. In addition to safety, switchgears can be used to avoid the flow of overvoltage an overcurrent and avoid short circuits and circuit failures, thereby minimizing undesired financial burden. The switch gears play an important part in transferring electricity from substations and power stations to domestic and industrial places. The growing emphasis on transferring power and making electricity available to rural places by government and public organizations will contribute to the demand and subsequent adoption for switchgears in several countries across the world.

Segmentation

1. By Voltage Type

  • Medium Voltage Switchgear
  • High Voltage Switchgear

2. By Application

  • Residential
  • Industrial
  • Commercial

3. By End Use Industry

  • Oil & Gas
  • Chemical
  • Food
  • Pharmaceutical
  • Marine
  • Others

4. By Geography

  • North America (the USA, Canada and Rest of North America)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, 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 the Middle East & Africa)

Order Complete Report https://www.fortunebusinessinsights.com/checkout-page/100815

Asia Pacific Currently Holds a Lion’s Share in Switchgears Market

The advancing transmission and network in densely populated countries such as Japan, China, and India has fuelled the demand for switchgears across the Asia Pacific. The presence of several rural areas in India and the emphasis on providing power to these regions by the government of India will contribute to the demand for switchgears in the Asia Pacific. The use of switch gears has risen significantly, due to the improvements in product design and an increase in the overall efficiency. Additionally, the availability of switchgears at reduced costs will constitute an increase in the Asia Pacific switchgears market size in the forthcoming years. The switchgears market in Asia Pacific was valued at USD 44.30 Bn in 2018 and is likely to increase at an impressive CAGR during the forecast period.

Medium Voltage Switchgears to Exhibit the Highest CAGR

The report has classified the global switchgears market in terms of factors such as insulation, installation, voltage, end user, and regional demographics. Among the voltage types, the medium voltage switchgears are likely to witness the highest CAGR, owing to the high demand for the products across the globe. Medium voltage switch gears offer a wide range of voltages which can range from 3kV and 36 kV. This range holds a high potential for several applications and as a result, Fortune Business Insights labels out medium segmentation as the one to witness the highest growth rate during the forecast period. Medium voltages can support applications in industrial and building infrastructures. The growing industrialization and improving industrial infrastructure will fuel the demand for these products in the forthcoming years. The low and high voltage type of switchgears will witness comparatively lesser growth due to a narrow application range.

Table of Content

5. Global Switchgear Market Analysis, Insights and Forecast, 2015-2026
5.1.Switchgear Market Key Findings / Summary
5.2.Switchgear Market Market Analysis, Insights, and Forecast – By Insulation (USD Billion)
5.2.1.Switchgear Market Gas
5.2.2.Switchgear Market Air
5.2.3.Switchgear Market Oil
5.2.4.Switchgear Market Vacuum
5.3.Switchgear Market Market Analysis, Insights, and Forecast – By Installation (USD Billion)
5.3.1.Switchgear Market Indoor
5.3.2.Switchgear Market Outdoor
5.4.Switchgear Market Market Analysis, Insights and Forecast – By Voltage (USD Billion)
5.4.1.Switchgear Market Low
5.4.2.Switchgear Market Medium
5.4.3.Switchgear Market High
5.5.Switchgear Market Market Analysis, Insights and Forecast – By End-User (USD Billion)
5.5.1.Switchgear Market T&D Utility
5.5.2.Switchgear Market Industrial
5.5.3.Switchgear Market Commercial & Residential
5.6.Switchgear Market Market Analysis, Insights and Forecast – By Region (USD Billion)
5.6.1.Switchgear Market North America
5.6.2.Switchgear Market Europe
5.6.3.Switchgear Market Asia Pacific
5.6.4.Switchgear Market Middle East and Africa
5.6.5.Switchgear Market Latin America
6. North America Switchgear Market Analysis, Insights and Forecast, 2015-2026
6.1.Switchgear Market Key Findings / Summary
6.2.Switchgear Market Market Analysis, Insights, and Forecast – By Insulation (USD Billion)
6.2.1.Switchgear Market Gas
6.2.2.Switchgear Market Air
6.2.3.Switchgear Market Oil
6.2.4.Switchgear Market Vacuum
6.3.Switchgear Market Market Analysis, Insights, and Forecast – By Installation (USD Billion)
6.3.1.Switchgear Market Indoor
6.3.2.Switchgear Market Outdoor
6.4.Switchgear Market Market Analysis, Insights and Forecast – By Voltage (USD Billion)
6.4.1.Switchgear Market Low
6.4.2.Switchgear Market Medium
6.4.3.Switchgear Market High
6.5.Switchgear Market Market Analysis, Insights and Forecast – By End-User (USD Billion)
6.5.1.Switchgear Market T&D Utility
6.5.2.Switchgear Market Industrial
6.5.3.Switchgear Market Commercial & Residential
6.6.Switchgear Market Market Analysis, Insights and Forecast – By Country (USD Billion)
6.6.1.Switchgear Market U.S.
TOC Continued…!

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

(Have a Look at Reports Trending in “Energy & Power” Industry)

View Related Reports:

What are the Copper Magnet Wire Market opportunities, risk and overview? Fortune Business Insights

What are the key factors driving the global Naphtha Market? Fortune Business Insights

Who are the distributors, traders and dealers of Iron Flow Battery Market? Fortune Business Insights

What will be the CAGR Value for Fuel Cell Gas Diffusion Layer Market in 2026? Fortune Business Insights

What are sales, revenue, and price analysis by types and applications of Wind Turbine Installation Vessel Market? Fortune Business Insights

Hydraulic Cylinders Market – What will be the Short-term Impact of Coronavirus? Fortune Business Insights

Who are the key manufacturers in Vacuum Gas Oil Market? Fortune Business Insights

Kiosks Market: Coronavirus Impact – Key Takeaway? Fortune Business Insights

About Us
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.

Phone
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245

Email: [email protected] 

Ruby Arterburn

Ruby is leading the team writing for artificial intelligence. She is a newcomer in the organization and has already made her base and reputation with her hard work and her efficiency towards her field. Being a student of computer science it has become easier for her to understand the objectives and the expected results of this column. She is also an excellent cook, and now and then, and we get the opportunity to taste her deliciously baked cookies.

Related Articles

Close