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Medium Voltage Switchgear Market Size 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), By Insulation (Air, Gas, Oil, Vacuum), By End-Use (Power Stations, Transformer Substations, Local Electricity Supply), By Application (Residential, Commercial, Industrial, Utility), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI2543
  • Published Date: May 2022
  • Report Format: PDF

Industry Trends

Medium Voltage Switchgear Market size valued at USD 42 billion in 2021 and is projected to grow at over 7% CAGR from 2022 to 2030. Rising demand for effective transmission & distribution infrastructure along with government initiatives for the electrification of remote & rural areas will further augment the industry outlook. Moreover, the increasing demand for continuous power supply will complement the market growth.

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Growing refurbishment of existing electrical infrastructures with the rising investments in the modernization & upgrading of grid networks will stimulate the market overview. The lack of efficient & reliable electric networks in line with the shifting inclination toward the development of existing infrastructures across developed countries has integrated a favorable business scenario.

Rapid industrialization and commercialization to upscale the overall economic growth

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Large-scale expansion of commercial establishments coupled with substantial developments and refurbishment & upgrade of small-scale industries will foster the 9 kV to 15 kV switchgear market statistics. Furthermore, product portfolio enhancements combined with mergers & acquisitions by major players as a key strategic implication will drive the medium voltage switchgear market. For example, in January 2022, GE Grid Solutions won a three-year framework contract for supplying SF6-free live tank circuit-breakers of 145 kV to the SP Energy Networks in the UK. Circuit breakers will be utilizing the g3 gas as an insulating & switching dielectric medium.

Favorable government schemes for the deployment & expansion of power grid infrastructures

Shifting focus toward the development of streamlined distribution platforms in line with aging electricity infrastructures will boost the market share. The ongoing expansion of large-scale electrical networks together with robust utility-scale deployments to integrate electrical lines with high voltage & current ratings will accelerate the demand for circuit breakers. The introduction of effective & flexible distribution component technologies followed by the development of standard product specifications favored by high replacement costs across large-scale applications will propel the business landscape.

Oil based switchgear installations are anticipated to be worth USD 3 billion by 2030. Growing space constraints and continuous investments in research & development to innovate smart & compact control equipment will fuel the oil based medium voltage switchgear market demand. In addition, ease-of-operations and enhanced equipment safety features will encourage technology deployments. Continuous investments in residential and commercial establishments including offices, public & private apartments, communication & data centers, educational premises, and similar space constraint establishments will spur the market growth.

Increasing electricity demand with ongoing adoption of advanced high-quality electrical systems in Asia Pacific

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The Asia Pacific medium voltage switchgear market size will witness a growth rate of around 6% between 2022 and 2030. Rising demand for effective T&D systems coupled with increasing investments in the energy infrastructure sector will supplement the market revenue. Additionally, large-scale deployments of renewables along with the expansion of smart grid networks will positively sway product penetration. Growing urge for manufactured products combined with the rapid expansion of manufacturing units has compelled industry participants to expand & upgrade operations across the region.

Ongoing integration of renewable resources and smart city initiatives by various governments

The COVID-19 outbreak slightly affected the overall medium voltage switchgear market outlook on account of lockdown impositions, shutting of various manufacturing & industrial facilities, and delays in several infrastructural projects. However, the continuous maintenance of electrical grid infrastructure during the pandemic merged with ongoing vaccination drives to curb the COVID-19 spread will complement the industry growth. Moreover, the rising demand for refurbishing & replacing aging grid infrastructures, followed by continuous building infrastructure construction activities will support the global market.

Strategic implications including agreements, partnerships, and mergers

Key players functioning across the medium voltage switchgear market include ABB, Siemens, GE, Mitsubishi Electric Corporation, Schneider Electric, Ormazabal, Bharat Heavy Electricals Limited, CG Power and Industrial Solutions Limited, Chint Group, Eaton Corporation, Hyosung Heavy Industries, Lucy Group Ltd., Hyundai Electric & Energy Systems Co., Ltd., Powell Industries, and Toshiba Corporation.

Inorganic growth ventures and agreements, new product innovations, mergers, contracts, and collaborations among major participants will fuel the industry statistics. For Instance, in June 2021, Toshiba ESS collaborated with Meidensha Corporation to jointly develop Gas Insulated Switchgear (GIS) for 72kV/84kV using a natural origin gas that does not contain sulfur hexafluoride (SF6). The companies are also focusing on accelerating the development and commercialization of this GIS due to high usage of environmental-friendly products in the market. The establishment of a system for mass production and commercialization of the product will begin by the end of March 2023.

This research report on medium voltage switchgear market includes in-depth coverage of the industry with estimates & forecast in terms of ‘Units’ & USD’ from 2018 to 2030 for the following segments:

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 regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Spain
  • Asia Pacific
    • China
    • Australia
    • India
    • Japan
    • South Korea
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Oman
    • South Africa
    • Egypt
  • Latin America
    • Brazil
    • Peru
    • Argentina
Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of medium voltage switchgear crossed USD 42 billion in 2021 and will record lucrative gains by 2030 owing to the higher need for effective transmission & distribution infrastructure and the rising government initiatives for the electrification of remote & rural areas.
Demand for oil-based medium voltage switchgears is expected to exceed USD 3 billion by 2030 on account of the escalating space constraints and the ongoing investments in R&D for innovating smart & compact control equipment.
Asia Pacific will strike a growth rate of more than 6% through 2030 driven by the thriving need for effective T&D systems and the surge in investments in the energy infrastructure sector.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 20
  • Tables & Figures: 1208
  • Countries covered: 23
  • Pages: 750
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