Growing Need for Reliable Energy Distribution, Spurred by Urbanization and Infrastructure Development, Drives Switchgear Market Growth

Wilmington, Delaware, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Switchgear refers to a collection of electrical devices and components used to control, protect, and isolate electrical equipment in power systems. It includes circuit breakers, fuses, and switches, which ensure safe and reliable operation of electrical grids. The switchgear market is driven by the increasing demand for energy efficiency and reliability in power distribution. It finds applications across various industries, including utilities, industrial sectors, and commercial buildings. In utilities, switchgear manages electricity flow and protects against faults, in industrial settings, it ensures safe operation of machinery, and in commercial spaces, it facilitates efficient energy management and distribution.

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Rising Trend: Embracing Digital Transformation in Switchgear

Digital high voltage switchgear is pivotal for advancing towards a smart grid by facilitating advanced control, protection, and monitoring of the electricity network. These systems also address space constraints and manufacturing delays, allowing OEMs to modify existing equipment rather than produce new units, thereby reducing overall costs. Consequently, leading players in the energy sector are increasingly focusing on the digitalization of electrical gear to meet evolving consumer needs.

For instance, Hitachi Energy offers an extensive range of high voltage switchgear and breakers for voltages reaching up to 1200 kV AC and 1100 kV DC. While General Electric does not provide a dedicated digital switchgear line, it supplies digital substations and instrument transformers. Siemens Energy, on the other hand, features a complete portfolio of digitally-enabled substation equipment, branded as 'Sensformer' and 'Sensgear'.  

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Product Range of SF6 Free Transmission Switchgear:

SF6-free transmission switchgear offers an environmentally friendly alternative, reducing greenhouse gas emissions while maintaining high performance. This range includes circuit breakers and gas-insulated switchgear, designed for sustainable, reliable power transmission.

Features	Hitachi ABB	Hyundai	Siemens Energy	Mitsubishi Electric	Toshiba
Design	Live tank	GIS	GIS/LT	Dead Tank	C-GIS
Insulation	Dry air	C4-FN Mix O2 Free	Techn.air	Techn.air	Solid
Switching	O2/CO2	C4-FN Mix O2 Free	Vacuum	Vacuum	Vacuum
Rated voltage (KV)	145	170	145	72/84	72/84
Current (A)	3150	-	3150	1200	1200
Short circuit current (KV)	40	50	40	31.5	31.5

High Voltage Plays a Crucial Role in Switchgear Market

High voltage switchgear is essential for maintaining grid stability and reliability, driving its dominance in the switchgear market. Its role in supporting renewable integration will be increasingly critical in the coming years. To address global climate change, it's crucial to reduce greenhouse gas (GHG) emissions and meet specific targets. Governments worldwide are implementing special policies to achieve this, with a notable event being the UN Climate Change Conference (COP26) held in Glasgow in November 2021. At this conference, participating countries reaffirmed their commitments to reducing emissions and providing financial support to limit the average global temperature rise to 1.5°C.

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The power sector, a major source of GHG emissions, was responsible for about 14 billion tons of CO2 in 2019, representing roughly 42% of total global emissions, according to the International Energy Agency. The sector now faces the dual challenge of reducing carbon emissions while maintaining grid reliability and stability. This has led to a rise in renewable energy sources and decentralized generation, which necessitate the reliable operation of power networks, especially at voltages above 42 kV. High voltage switchgear plays a crucial role in ensuring this reliability and security.

European Manufacturers Forge Continuous Collaborations and Partnerships

European manufacturers are consistently engaging in collaborations and partnerships to drive innovation and maintain competitiveness in the global market. These strategic alliances enable companies to combine expertise, resources, and technology, resulting in the development of cutting-edge products and solutions. By working together, European manufacturers can address industry challenges more effectively, accelerate the adoption of new technologies, and expand their market reach.

These partnerships are particularly crucial in sectors such as automotive, energy, and technology, where rapid advancements and evolving consumer demands require a collaborative approach. This ongoing commitment to collaboration ensures that European manufacturers remain leaders in innovation and industry excellence.

• In April 2023, Havells India Ltd. formed a strategic alliance with Swedish startup Blixt Tech AB to introduce solid state circuit breaker (SSCB) technology to the Indian market. This partnership strengthens Havells' position in the switchgear sector and highlights its dedication to offering innovative, forward-looking solutions.
• In November 2018, Siemens secured a contract to supply gas-insulated switchgear featuring clean air and vacuum switching technology for 145 kV in Norway. These advanced products deliver more reliable and efficient switching and arc-extinguishing capabilities.

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Global Switchgear Market Players

• ABB Ltd.
• Abdullah Abunayyan Holding
• Alstom
• BHEL
• Caterpillar
• CG Power & Industrial Solutions Ltd. 
• Eaton Corporation
• Fuji Electric
• Havells India Pvt. Ltd.
• Hitachi Limited
• Hyundai Electric and Energy Systems
• IEM
• Meta Switchgear
• Noja Power Switchgear Pty. Ltd.
• Powell Industries
• Schlender Electric
• Siemens AG
• TIPECO
• Toshiba Corporation
• Wahah Electric Supply Company
• WEG SA
• Other Industry Participants

Global Switchgear Market Segmentation

The global switchgear market has been segmented on the basis of component, voltage, insulation type, installation type, end use industry, which are further classified into regions and its respective countries:

Global Switchgear Market Component Outlook (Revenue, USD Million, 2016 - 2034)

• Power-Conducting Components

• • Switches
  • Circuit Breakers
  • Fuses
  • Insulators
  • Others

• Control-System Components

• • Transformers
  • Control Pannel
  • Others

• Relays
• Capacitor
• MCCB
• Bus Bars
• Bushings
• Others

Global Switchgear Market Voltage Outlook (Revenue, USD Million, 2016 - 2034)

• Low
• Medium
• High

Global Switchgear Market Insulation Type Outlook (Revenue, USD Million, 2016 - 2034)

• Gas
• Air
• Oil
• Vacuum

Global Switchgear Market Installation Type Outlook (Revenue, USD Million, 2016 - 2034)

• Indoor
• Outdoor

Global Switchgear Market End-User Industry Outlook (Revenue, USD Million, 2016 - 2034)

• Residential
• Commercial
• Industrial
• Utilities

Global Switchgear Market Regional Outlook (Revenue, USD Million, 2016 - 2034)

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)  

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