Europe 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

Europe Medium Voltage Switchgear Market Size

Europe Medium Voltage Switchgear Market was valued at USD 12 billion in 2022 and is predicted to observe about 7.4% CAGR between 2023 to 2032. Increasing urbanization and infrastructure development, coupled with a growing focus on renewable energy integration, have stimulated the demand for medium voltage switchgear. According to Eurostat data, renewable energy made up approximately 21% of the European Union's overall energy consumption in 2021. The increasing adoption of renewable energy sources in Europe is expected to bolster the market growth, as these systems play a critical role in efficiently managing and distributing power from diverse renewable sources.
 

Furthermore, the need to upgrade and modernize aging electrical grids and the ongoing expansion of industrial and commercial sectors have further propelled market growth. The adoption of smart grid technologies and advancements in environmentally friendly and energy-efficient switchgear solutions have also played a pivotal role in driving the market forward. Government initiatives promoting grid reliability and energy efficiency are expected to continue supporting this growth trajectory, making the European medium voltage switchgear market a vibrant and dynamic industry.

COVID– 19 Impact

The COVID-19 pandemic initially disrupted the Europe medium voltage switchgear market, causing supply chain disruptions and delayed projects due to lockdowns and economic uncertainties. However, as industries adapted to the new normal and governments invested in infrastructure for economic recovery, the market showed resilience. The focus on renewable energy and grid modernization also drove demand for medium voltage switchgear, with an increasing need for reliable electrical distribution. Consequently, the market rebounded, and it is expected to continue growing as Europe prioritizes energy efficiency and sustainability in its recovery efforts.
 

Europe Medium Voltage Switchgear Market Trends

The Europe medium voltage switchgear industry is witnessing several prominent trends. The growing emphasis on renewable energy integration and the transition to more sustainable power sources are driving increased demand for medium voltage switchgear, as they are crucial components in efficiently managing and distributing electricity from renewable assets. Additionally, the shift towards digitalization and smart grid technologies is transforming the market, with the integration of IoT and advanced monitoring systems enhancing operational efficiency. Energy efficiency and environmental concerns are prompting the development of eco-friendly and compact switchgear solutions.
 

Europe Medium Voltage Switchgear Market Analysis

The switchgear with a rating of ≥ 21 kV to < 27 kV claimed the largest market share, surpassing 23% in 2022, and is projected to experience substantial market growth, with a compound annual growth rate (CAGR) exceeding 7.5% through 2032. This surge in demand is driven by the increasing need for reliable and secure distribution networks across residential, commercial, industrial, and utility sectors. The expansion of extensive residential complexes and urban migration further contributes to the rising demand for these products.
 

The contactors segment exceeded a USD 2.8 billion in 2022 and is expected to surpass USD 6.4 billion by 2032. The increasing adoption of contactor units can be attributed to their effectiveness in corrosion resistance, cost-efficiency, and ease of installation. Developed economies in the region have placed significant emphasis on transitioning to underground electrical networks to mitigate the environmental impact associated with overhead power lines, which emit electromagnetic waves that can pose health risks to local ecosystems and negatively impact the visual aesthetics of the environment.
 

Vacuum-insulated switchgear market technology set to register around 3.5% CAGR through 2032, due to its distinct advantages over traditional insulation technologies and its well-established reputation for reliability. The growing demand for vacuum insulation can be attributed to its cost-effectiveness, dependable and safe performance, and its leak-free design. The versatility of vacuum-insulated distribution components and continuous technological advancements are expected to drive the adoption of this technology. In the European context, vacuum insulation has gained prominence owing to its local availability, ease of manufacturing and installation. Despite higher initial costs compared to other insulation methods, utility companies and consumers prefer vacuum-insulated components due to their extended operational lifespan and reduced maintenance expenses.
 

As power generation facilities expand to meet the region's escalating energy requirements, there's a heightened emphasis on improving electrical distribution and grid reliability. Medium voltage switchgear assumes a pivotal role in ensuring the safe and efficient distribution of power within power stations. Moreover, the transition towards renewable energy sources like solar and wind in the Asia-Pacific region further stimulates the need for medium voltage switchgear, as these technologies necessitate advanced electrical infrastructure. This market is expected to sustain its upward trajectory as power stations invest in modernization and grid optimization initiatives.
 

Medium voltage switchgear applications span across the utility, commercial, residential, and industrial sectors in Europe. In 2022, the utility sector emerged as the dominant force in the market and is projected to maintain a robust CAGR exceeding 6% up to 2032, further solidifying its leading market position. Factors such as increasing urbanization, industrialization, and infrastructure development in the region have generated a heightened need for dependable electrical distribution systems. To bolster grid reliability, reduce downtime, and ensure a sustainable power supply, utilities are actively replacing their aging infrastructure with modern and efficient medium voltage switchgear solutions.
 

Germany medium voltage switchgear market valuation crossed USD 1.6 billion in 2022 and is anticipated to register USD 2.8 billion by 2032, owing to the rapid urbanization and industrial development are increasing the demand for reliable electrical distribution systems, spurring investments in modern medium voltage switchgear solutions. The ongoing expansion and upgrade of the country's electrical infrastructure, coupled with efforts to enhance grid reliability and reduce downtime, are significant growth drivers. Moreover, the growing adoption of renewable energy sources and the need to integrate them into the grid are fueling demand for advanced medium voltage switchgear to manage distributed energy resources efficiently.
 

Europe Medium Voltage Switchgear Market Share

Siemens stands out as the biggest player in the market. Renowned for its innovative and technologically advanced solutions, Siemens has established a dominant presence in the industry. The company's extensive range of medium voltage switchgear products caters to diverse applications, including utility, commercial, and industrial sectors. Siemens consistently emphasizes reliability, safety, and efficiency, making its offerings highly sought after across Europe. Their commitment to sustainable energy solutions, grid optimization, and continuous technological advancements positions Siemens as a market leader in the medium voltage switchgear segment, with a significant market share and a strong presence in the region.
 

The major contenders in the Europe 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
   

Europe Medium Voltage Switchgear Market News

• In April 2021, Siemens unveiled the 8DJH 24 switchgear alongside an RMU designed for operating voltages of up to 24 kV. What sets this pioneering product apart is its remarkable absence of fluorinated gases. This medium voltage switchgear utilizes clean air technology, employing an eco-friendly insulation medium composed entirely of natural elements extracted from the ambient atmosphere. This groundbreaking development eliminates the necessity for using Sulfur Hexafluoride (SF6) or any gas blends reliant on fluorine gases as insulating agents, representing a significant step towards more environmentally sustainable and climate-neutral electrical infrastructure.
   

This Europe 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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Market, 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

Market, By Component

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

Market, By Insulation

• Air
• Gas
• Oil
• Vacuum
• Others

Market, By End Use

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

Market, By Application

• Residential
• Commercial
• Industrial
• Utility

The above information has been provided for the following countries:

• UK
• Germany
• France
• Russia
• Italy
• Spain