Home > Energy & Power > Electrical Equipment > Switchgears > Vacuum Insulated Medium Voltage Switchgear Market

Vacuum Insulated Medium Voltage Switchgear Market Trends

  • Report ID: GMI6990
  • Published Date: Oct 2023
  • Report Format: PDF

Vacuum Insulated Medium Voltage Switchgear Market Trends

The vacuum insulated medium voltage (MV) switchgear market is witnessing several prominent trends that shape the future of electrical distribution systems. The integration of digital technologies into MV switchgear acts as another notable trend impacting the market growth. The rise of the Industrial Internet of Things (IIoT) has brought a wave of innovation, enabling MV switchgear to be equipped with sensors and monitoring systems. These advancements enhance predictive maintenance capabilities and real-time monitoring, ensuring the reliability and efficiency of power distribution networks.
 

There is a growing demand for modular and compact designs in switchgear. These designs provide flexibility and ease of installation in space-constrained areas, reducing the overall footprint. Their modularity allows for scalability and simplified maintenance. Cybersecurity is emerging as a critical concern as digitalization advances. Protecting MV switchgear from cyber threats becomes a top priority as these systems become more interconnected. Lastly, as renewable energy generation expands, MV switchgear is evolving to accommodate the integration of renewable sources into the grid. This involves developing grid-compatible designs and technologies to manage distributed energy resources effectively.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of vacuum insulated medium voltage switchgear was exceeded USD 26.8 billion in 2023 and is projected to witness over 6.3% CAGR from 2024 to 2032, due to the burgeoning energy consumption across the globe.

Demand for > 21 kV to < 27 kV voltage rating vacuum insulated medium voltage switchgears is set to record over 6.5% CAGR up to 2032, owing to the surging demand for secure and dependable distribution networks across residential, commercial, industrial, and utility sectors.

Asia Pacific vacuum insulated medium voltage switchgear industry size is anticipated to witness over 5.5% CAGR through 2032, owing to the rapid urbanization, industrialization, and increasing energy demand in the region.

Eaton, Zhejiang Volcano Electrical Technology Co., Ltd, Electro-Mechanical, LLC, DOHO Electric, Hitachi, Ltd., Siemens, Mitsubishi Electric Power Products, Inc., and Rotary Switchgear & Testing Pte. Ltd. are some of the prominent vacuum insulated medium voltage switchgear firms.

Vacuum Insulated Medium Voltage Switchgear Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 979
  • Countries covered: 21
  • Pages: 700
 Download Free Sample