High-Voltage Switchgear Market was valued 6.14 Bn in 2017, and expected to reach 14.2 Bn in 2026 at CAGR of 11.5% during forecast period.
High-Voltage Switchgear MarketThe global high-voltage switchgear market can be segmented into product segment, component, insulation, application, and region. In terms of product segment, the high-voltage switchgear market is classified into ANSI and two more segments. The ANSI segment is projected to account for the largest market share during the forecast period. The segment is driven by a rise in adoption of ANSI standard electrical equipment. ANSI standard specifies sheet metal thickness, paint color, barriers, and other features to ensure consistency of equipment from various manufacturers. Based on the component, the demand for circuit breakers in developed as well as developing countries is driven by increasing electrification in countries in the Asia Pacific and Africa. Circuit breakers are expected to be the largest segment during the forecast period.
Rise in spending toward infrastructural development along with regulatory measures for the expansion of the power grid in rural areas will enhance the market size. Re-installation of transmission and distribution networks across war-affected nations in the Middle East will further propel the product demand. For instance, in 2017, Japan announced to allocate US$ 16.7 Mn for the United Nations Development Program (UNDP) in Iraq. The program focuses on promoting resilience building, stabilization, and rehabilitation of infrastructure for refugees.
The increasing electricity generation and consumption, along with the changing power generation industry dynamics, are expected to be the major drivers for transmission and distribution network growth, which, in turn, is expected to drive the high voltage switchgear market during the forecast period. The growth in developed countries is expected to be driven mainly by the transmission network renovation rather than expansion.
Based on Geography, the High-Voltage Switchgear Market in the Asia Pacific dominated, with China accounting for a majority share of 30.2%. The region’s dominance of the global market is attributed to large population, increase in industrialization and urbanization, and growth in the utility sector. In terms of country, India is projected to lead the High-Voltage Switchgear Market in the Asia Pacific during the forecast period. This is primarily due to an increase in non-renewable grid modernization and a rise in investment in renewable energy. India is the second most attractive market for renewable energy investment. Countries such as China, Japan, and Australia are also expected to be significant markets for high-voltage switch gears
Eminent participants in the High-Voltage Switchgear Market include Mitsubishi Electric Systems, Schneider Electric, Toshiba, ABB, GE, Siemens AG, Larson & Turbo, Hitachi Ltd., Crompton Greaves, Hubbell, Powell Industries, and BHEL. Companies are focusing on expanding business through strategic acquisitions and partnerships with several end-use industries.
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Scope of Global High-Voltage Switchgear Market:
Global High-Voltage Switchgear Market By Product Standard:
• IEC Standard
• ANSI Standard
• Others
Global High-Voltage Switchgear Market By Component:
• Circuit Breakers
• Relays
• Others
Global High-Voltage Switchgear Market By Insulation:
• Air-insulated Switchgears
o SF6
o Non SF6
• Gas-insulated Switchgears
o SF6
o Non SF6
Global High-Voltage Switchgear MarketBy Application:
• Power Generation
• Oil & Gas
• Utilities Sector
• Industrial
Global High-Voltage Switchgear MarketBy Geography:
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operated in the Global High-Voltage Switchgear Market:
• Mitsubishi Electric Systems
• Schneider Electric
• Toshiba
• ABB
• GE
• Siemens AG
• Larson & Turbo
• Hitachi Ltd.
• Crompton Greaves
• Hubbell, Powell Industries
• BHEL
• Hyosung
• Rittal
• Hyundai Ideal Electric Co.
• Meidensha Corporation
• Fuji Electric
• Iljin Electric
• Ormazabal
• Siemens AG
• Hyosung Corporation
• Toshiba Corporation
• Eaton Corporation
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Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reportsThe High Voltage Switchgear Global Market Report 2020-30 by The Business Research Company describes and explains the global high voltage switchgear market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030.
The report evaluates the market across each region and for the major economies within each region.The High Voltage Switchgear Global Market Report 2021 covers high voltage switchgear market drivers, high voltage switchgear market trends, high voltage switchgear market segments, high voltage switchgear market growth rate, high voltage switchgear market major players, and high voltage switchgear market size.View Complete Report: https://www.thebusinessresearchcompany.com/report/high-voltage-switchgear-global-market-reportThe high voltage switchgear market report provides an in-depth analysis of the impact of COVID-19 on the global high voltage switchgear industry, along with revised market numbers due to the effects of the coronavirus and the expected high voltage switchgear market growth numbers 2021-2030.High Voltage Switchgear Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request For The Sample Now: https://www.thebusinessresearchcompany.com/sample.aspx?id=2671=smpThe global high voltage switchgear market is expected to grow from $11.31 billion in 2020 to $11.85 billion in 2021 at a compound annual growth rate (CAGR) of 4.8%.
The market is expected to reach $14.19 billion in 2025 at a CAGR of 5%.The report covers the high voltage switchgear market segments-1) By Insulation Type: Gas Insulated, Oil Insulated, Air Insulated.2) By Application: Transmission And Distribution Network, Manufacturing & Processing, Infrastructure & Transportation.3) By Product Standard: IEC Standard, ANSI Standard.4) By Component: Circuit Breakers, Relays, Other.About The Business Research Company: The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research.
It has over 200 research professionals at its offices in India, the UK and the US, as well a network of trained researchers globally.
