Home > Pressrelease > MV Switchgear Market size to exceed $50 bn by 2025

MV Switchgear Market size to exceed $50 bn by 2025

  • Published Date: February 14, 2019

Medium Voltage Switchgear Market size will exceed USD 50 billion by 2025, as reported in the latest study by Global Market Insights Inc.

The MV switchgear market has gained an upsurge on account of rising electricity demand coupled with increasing need for effective T&D control systems. Accruing concerns associated with health, electricity supply faults, fire and other related hazards in line with lack of efficient electrical network across emerging regions will boost the industry landscape. Furthermore, ease of installation, cost effectiveness, safe and reliable operations are few prominent parameters favoring the business outlook.

Voltage ratings prove to be a standard industry protocol for the installation of switchgear units across utilities, large-scale industries and residential peripherals. In the recent years, 9 kV to 15 kV MV switchgear market has witnessed a growth owing to refurbishment & retrofitting of small-scale industries and large-scale commercial establishments. In addition, the rising demand for energy favored by positive consumer inclination to infuse renewable electricity infrastructure will complement the industry landscape.

Medium Voltage Switchgear Market

Get more details on this report - Request Free Sample PDF

Diverse applicability, aesthetic proximity and product versatility are essential factors swaying the demand for circuit safety equipment including switches, disconnectors and circuit breakers. Utility and industrial deployments integrate electrical lines with extra high voltages which require efficient electrical devices to avoid short fluctuations and faults which in turn will stimulate the global market.

Browse key industry insights spread across 1400 pages with 2934 market data tables & 40 figures & charts from the report, “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, Others), By Installation (Indoor, Outdoor), By Insulation (Air, Gas, Oil, Vacuum, Others), By Enclosure (Metal {Indoor, Outdoor}, Non Metal {Outdoor}), By End-Use (Power Stations, Transformer Substations, Local Electricity Supply, Others), By Application (Residential, Commercial {Healthcare, Hospitality, Offices, Retail, Education, Others}, Industrial {Power, Oil & Gas, Railways, Arc furnace, Manufacturing & Processing Industries, Others}, Utility) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:

Metal enclosed MV switchgear market is projected to exceed an annual deployment of 5 million units by 2025. Reliable & safe operations, unique design & construction, suitable interlocking arrangement within various components and easy replacement are the few indispensable features amplifying the product demand. Moreover, rising measures to curb short circuits, electricity supply faults and fire hazards have further escalated the industry growth.

Ongoing suburban migration coupled with positive government regulations to ensure a healthy & safe livelihood for residents have further led to commercial expansion and urbanization expansion globally. The incessant growth in peak load demand across developing countries has compelled installers and utilities to upscale and upgrade to flexible electricity supply components to reinforce grid security & reliability. Henceforth, increasing energy demand supported by rising need for efficient power distribution infrastructure will favor the market share.

Increasing demand for refurbishment & restoration of ageing electrical setup in line with growing fund allocation across the power sector will boost the North America market. Reliability & longevity, operational flexibility coupled with economical costs are key factors predicted to thrust the business outlook. In 2018, the U.S. Government introduced schemes to invest USD 10,000 million to enhance its inter-regional electrical network with an aim to limit the curtailment rate across the Western T&D Network.

Prominent MV switchgear market players include Siemens, ABB, GE, Mitsubishi, Ormazabal, Schneider, BHEL, Chint Group, Crompton Greaves, Hyosung, Eaton, Lucy electric, Hyundai Heavy Industries, Toshiba and Powell.

Medium voltage switchgear market research report includes in-depth coverage of the industry with estimates & forecast in terms “Units” and ‘USD” from 2014 to 2025, for the following segments:

MV Switchgear 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

MV Switchgear Market, By Component

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

MV Switchgear Market, By Installation

  • Indoor
  • Outdoor

MV Switchgear Market, By Insulation

  • Air
  • Gas
  • Oil
  • Vacuum
  • Others

MV Switchgear Market, By Enclosure

  • Metal Enclosed
    • Indoor
    • Outdoor
  • Non-Metal Enclosed
    • Outdoor

Medium Voltage Switchgear Market, By End Use

  • Power stations
  • Transformer substations
  • Local electricity supply
  • Others

Medium Voltage Switchgear Market, By Application

  • Residential
  • Commercial
    • Healthcare
    • Hospitality
    • Offices
    • Retail
    • Education
    • Others
  • Industrial
    • Power
    • Oil & Gas
    • Railways
    • Arc furnace
    • Manufacturing & Processing Industries
    • Others
  • Utility

The above information is provided on a regional & country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Austria
    • Spain
    • Netherlands
    • Denmark
    • Finland
    • Sweden
    • Norway
  • Eurasia
    • Russia
    • Belarus
    • Kazakhstan
    • Armenia
    • Kyrgyzstan
  • CIS
    • Azerbaijan
    • Moldova
    • Tajikistan
    • Turkmenistan
    • Ukraine
    • Uzbekistan
  • Asia Pacific
    • China
    • Australia
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
    • Singapore
    • Thailand
    • New Zealand
    • Philippines
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Kuwait
    • Bahrain
    • Oman
    • Turkey
    • South Africa
    • Nigeria
    • Algeria
    • Egypt
    • Israel
    • Jordan
    • Lebanon
  • Latin America
    • Brazil
    • Argentina
    • Chile
Authors: Ankit Gupta, Abhigyan Tathagat