High Voltage Switchgear Market Analysis

High Voltage Switchgear Market Analysis

The 72.5 kV voltage segment is slated to expand at more than 7.5% growth rate through 2032. For many regulators and installers, the grid-isolated zones are the main areas of focus since they offer tremendous possibilities for expansion and profit maximization, which is foreseen to bolster segment development. Major enterprises are adopting novel technologies to offer clients affordable, environmentally friendly, and zero global warming potential substitutes to SF₆ gas.

High voltage switchgear market value from indoor installation segment accounted for around USD 570 million in 2022 owing to the growing emphasis on expanding the availability of electricity through modernizing the current grid infrastructure. Moreover, the rising preference for indoor installations of high voltage switchgear in locations with expensive land or limited space will promote segment expansion.

In terms of breaking capacity, the 31.5 kA segment is estimated to attain nearly 7% gains through 2032 due to the rising need to minimize emissions and the limited availability of coal, renewable energy sources and gas are now being preferred for new capacity construction. These factors are boosting the demand for 31.5 kA installations, which is speculated to drive segment growth.

On the basis of current, the high voltage switchgear market from 1200 A segment is predicted to observe more than 8% CAGR till 2032. The utilization of 1200 A switchgear is increasing for its multiple applications, such as the integration of power generation units into grids, rail lines, and power transmissions, which is expected to have a favorable influence on the growth of the segment.

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In terms of product, the GIS segment in the high voltage switchgear market surpassed around USD 1 billion in 2022. Compared to other alternatives, GIS or gas insulated switchgear offers superior flexibility and reliability. On account of its gas encased architecture, it finds extensive usage in both indoor and underground substations. Additionally, several benefits offered by GIS viz., less maintenance, compactness, reduced environmental effect, and so on, are further supplementing segment progression.
 

Europe high voltage switchgear market size is poised to showcase nearly 6% gains through 2032. Manufacturers and developers are investing heavily in the integration of smart monitoring, control, and performance units. Thus, technological advancements encouraged by government-led programs to facilitate the integration of small-scale renewable energy sources are estimated to complement industry dynamics in the region. The market for switchgear in U.S. to exceed USD 27.1 billion by 2032.