Asia Pacific Medium Voltage Switchgear Market Size - By Component (Circuit Breakers, Contactors, Switches & Disconnector, Fuses), By Insulation (Air, Gas, Oil, Vacuum), By End Use (Power Stations, Transformer Substations), Application, Voltage & Forecast, 2023 – 2032

Asia Pacific Medium Voltage Switchgear Market Size

Asia Pacific Medium Voltage Switchgear Market was valued at USD 15.2 billion in 2022 and is anticipated to grow at CAGR of over 5% CAGR from 2023 to 2032. The region's expanding industrial and infrastructure sectors, particularly in countries like China and India, are generating increased demand for reliable electrical distribution systems. As per data from China's National Bureau of Statistics (NBS), renewables constituted over 47% of China's total electricity generation capacity in 2022.
 

Furthermore, stringent government regulations pertaining to safety, environmental compliance, and grid reliability are encouraging the adoption of advanced switchgear solutions. Finally, the ongoing urbanization, rising urban population, and the development of smart cities are also contributing to the market's growth as they require modernized and efficient electrical infrastructure. These factors collectively create a favorable environment market expansion.

COVID– 19 Impact

The COVID-19 pandemic initially led to disruptions in the Asia Pacific medium voltage switchgear market, with supply chain challenges and project delays. However, as the region adapted to new working norms and increased investments in healthcare infrastructure, the market showed resilience. Demand for reliable electrical distribution systems, especially in healthcare and data center facilities, increased, driving a gradual recovery in the market. Additionally, the pandemic underscored the importance of digitalization and grid resilience, further boosting the adoption of advanced switchgear solutions in the region.
 

Asia Pacific Medium Voltage Switchgear Market Trends

Several notable trends are shaping demand for medium voltage switchgear in Asia Pacific. The rapid urbanization and industrialization in countries like China and India are propelling demand for advanced electrical distribution infrastructure. The increasing focus on renewable energy sources is driving the adoption of switchgear solutions to efficiently manage power generated from sources like solar and wind. There is a growing emphasis on digitalization and smart grid technologies to enhance grid reliability and optimize energy management. Lastly, stringent regulations regarding safety and environmental compliance are encouraging the market's shift towards more eco-friendly and efficient switchgear solutions. These trends collectively point to a dynamic and evolving landscape for medium voltage switchgear in the Asia Pacific region.
 

Energy storage integration is gaining prominence as a means to stabilize power supply and support grid flexibility, especially with the increasing adoption of electric vehicles. The market is also witnessing a rising demand for eco-friendly, gas-insulated switchgear as it offers superior environmental performance. Moreover, the transition to smart cities and infrastructure is driving the incorporation of intelligent switchgear systems with monitoring and control capabilities, enhancing energy efficiency and grid management.
 

Asia Pacific Medium Voltage Switchgear Market Analysis

The switchgear with a rating of ≥ 21 kV to < 27 kV captured the largest market share, exceeding 24% in 2022, and is expected to register CAGR of over 6.7% through 2032. This flow in demand is attributed to the increasing requirement for dependable and secure distribution networks across commercial, residential, industrial, and utility sectors. The expansion of extensive residential complexes and apartments due to urban migration further fuels the demand for these products.
 

Based on component, the contactors market valuation crossed USD 3.3 billion in 2022 and is projected to reach USD 6.6 billion by 2032. The increasing adoption of contactor units is driven by several factors, including their effective corrosion resistance, cost-efficiency, and ease of installation. Developed economies in the region have placed significant emphasis on the deployment of underground electrical networks to mitigate the environmental impact associated with overhead power lines.
 

The Vacuum-insulated switchgear technology is poised to exhibit a robust CAGR of around 5.5% up to 2032. The surge in demand for vacuum insulation can be attributed to its cost-effectiveness, dependable and safe operations, and its leak-free technology. The versatility of vacuum-insulated distribution components and the continual enhancement of technological offerings are expected to fuel the demand for this technology.
 

In the Asia Pacific region, medium voltage switchgear technology finds diverse applications, including transformer substations, power stations, and local electricity supply networks. The Asia-Pacific medium voltage switchgear market is experiencing robust growth, primarily driven by increasing demand from power stations. As power generation facilities expand to meet the region's growing energy needs, there is a heightened focus on enhancing electrical distribution and grid reliability.
 

MV switchgears finds applications in utility, commercial, residential, and industrial sectors. In 2022, the utility sector dominated the Asia-Pacific market and is poised for 5.5% growth CAGR till 2032, solidifying its leading market position. Increasing urbanization, industrialization, and infrastructure development in the region have led to greater demand for reliable electrical distribution systems. Utilities are upgrading their aging infrastructure with modern, efficient medium voltage switchgear solutions to enhance grid reliability, reduce downtime, and ensure sustainable power supply.
 

China medium voltage switchgear market size exceeded USD 5.4 billion in 2022 and is anticipated surpass USD 9 billion by 2032, owing to the rapid urbanization and industrialization in the country, which have led to increased demand for reliable and efficient electrical distribution systems, boosting the adoption of medium voltage switchgear for power distribution and protection. The government's focus on upgrading and expanding the electrical infrastructure to support economic growth and renewable energy integration has spurred investments in medium voltage switchgear.
 

Additionally, the growing emphasis on smart grid technologies and the need for enhanced grid resilience in the face of natural disasters and grid security concerns are encouraging the adoption of advanced medium voltage switchgear solutions. Lastly, the increasing awareness of environmental sustainability and energy efficiency is pushing the market towards eco-friendly and technologically advanced switchgear solutions.
 

Asia Pacific Medium Voltage Switchgear Market Share

Siemens holds a major market share in the medium voltage switchgear sector due to its commitment to innovation, reliability, and a comprehensive product portfolio. With a strong presence in the Asia Pacific market and a reputation for cutting-edge technologies, Siemens caters to a wide range of customer needs. Its focus on energy efficiency, safety, and seamless integration with smart grid solutions has made it a preferred choice for businesses and utilities. Siemens' dedication to quality and customer-centric approach has solidified its position as a dominant player, allowing it to capture a significant share of the market.
 

The major contenders in the Asia Pacific medium voltage switchgear market include:

• ABB
• Siemens
• General Electric
• Mitsubishi Electric Corporation
• Schneider Electric
• Ormazabal
• Bharat Heavy Electricals Limited
• CG Power & Industrial Solutions Ltd.
• CHINT Group
• Eaton
• HYOSUNG HEAVY INDUSTRIES
• Lucy Group Ltd.
• HD Hyundai Electric Co., Ltd.
• Powell Industries
• Toshiba Infrastructure Systems & Solutions Corporation

Asia Pacific Medium Voltage Switchgear Industry News:

• In April 2021, Siemens introduced the 8DJH 24 switchgear in conjunction with an RMU designed for voltages of up to 24 kV, and this innovative offering is notable for its complete absence of fluorinated gases. This medium voltage switchgear employs clean air technology, utilizing a climate-neutral insulation medium comprised solely of natural elements sourced from the surrounding atmosphere. This groundbreaking advancement effectively eliminates the need for Sulfur Hexafluoride (SF6) or any gas mixtures based on fluorine gases as insulating mediums.
   

This Asia Pacific medium voltage switchgear market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘000 Units and “USD Million” from 2019 to 2032, for the following segments:

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By Voltage

• ≥ 3 kV to < 9 kV
• ≥ 9 kV to < 15 kV
• ≥ 15 kV to < 21 kV
• ≥ 21 kV to < 27 kV
• ≥ 27 kV to < 33 kV
• ≥ 33 kV

By Component

• Circuit Breakers
• Contactors
• Switches & Disconnector
• Fuses
• Others

By Insulation

• Air
• Gas
• Oil
• Vacuum
• Others

By End Use

• Power Stations
• Transformer Substations
• Local Electricity Supply
• Others

By Application

• Residential
• Commercial
• Industrial
• Utility

The above information has been provided for the following countries:

• China
• Australia
• India
• Japan
• South Korea