出版：MarketsandMarkets（マーケッツアンドマーケッツ） 出版年月：2023年11月
Switchgear Market – Global Forecast to 2028
開閉装置市場 : 絶縁（ガス絶縁、空気絶縁）、設置（屋内、屋外）、電流（AC、DC）、電圧［低（1kVまで）、中（2～36kV）、高（36kV以上）］、エンドユーザーと地域別 – 2028年までの世界予測
Switchgear Market by Insulation (Gas-insulated, Air-insulated), Installation (Indoor, Outdoor), Current (AC, DC), Voltage (Low (up to 1 kV), Medium (2-36 kV), High (Above 36 kV), End User and Region – Global Forecast to 2028
| ページ数 | 269 |
| 図表数 | 293 |
| 種別 | 英文調査報告書 |
| 価格 |
MarketsandMarkets（マーケッツアンドマーケッツ）「開閉装置市場 : 絶縁（ガス絶縁、空気絶縁）、設置（屋内、屋外）、電流（AC、DC）、電圧［低（1kVまで）、中（2～36kV）、高（36kV以上）］、エンドユーザーと地域別 – 2028年までの世界予測 – Switchgear Market by Insulation (Gas-insulated, Air-insulated), Installation (Indoor, Outdoor), Current (AC, DC), Voltage (Low (up to 1 kV), Medium (2-36 kV), High (Above 36 kV), End User and Region – Global Forecast to 2028」は世界の開閉装置（スイッチギア）市場を調査し、主要セグメント毎に分析・予測を行っています。
主な対象セグメント
- 設置タイプ
- 屋内
- 屋外
- 絶縁タイプ
- 空気絶縁
- ガス絶縁
- その他
- 電圧
- 低電圧
- 中電圧
- 高電圧
- 電流
- AC
- DC
- エンドユーザ
- 送配電事業者
- 産業
- 商用＆住宅
- その他
- 地域
- 北米
- アジア太平洋地域
- 南米
- 欧州
- 中東＆アフリカ
Report Overview
The global market for switchgear is on a trajectory to reach USD 119.9 billion by 2028, a notable increase from the estimated USD 93.1 billion in 2023, with a steady CAGR of 5.2% spanning the period from 2023 to 2028. The global renewable energy sector is experiencing a substantial surge, with annual additions to renewable power capacity expected to average around 305 GW per year between 2021 and 2026, marking a nearly 60% increase compared to the previous five years. This growth is propelled by continuous governmental support in more than 130 countries, aggressive net-zero goals declared by nations representing nearly 90% of global GDP, and enhanced competitiveness of wind and solar PV technologies.
Renewable capacity is anticipated to expand by over 1,800 GW, constituting approximately 95% of the global increase in total power capacity. China, leading the pack, contributes to 43% of global growth, followed closely by Europe, the US, and India, collectively accounting for 80% of renewable capacity expansion globally. In 2021, solar PV installation led the charge, accounting for over half of the global renewable energy expansion, followed by wind and hydropower.
“Outdoor segment, by installation, to be fastest growing market from 2023 to 2028.”
The demand for outdoor switchgears is driven by their critical role in enhancing the transfer of electricity over long distances and larger loads (more than 66kV), ensuring reliable switching operations. These switchgears are vital components of medium and high-voltage distribution grids, primarily installed outdoors. The transmission and sub-transmission sector, with its requirement for high-load, long-distance transmission, stands as a significant consumer of outdoor switchgears. As electrification increases and the need for efficient long-distance power transmission grows, the outdoor switchgear market continues to expand.
“Low voltage segment, by voltage, to be the second-largest market from 2023 to 2028.”
Switchgears rated up to 1 kV, known as low-voltage switchgears, are extensively employed in commercial and residential settings. Major components of these switchgears include MCBs (Miniature Circuit Breakers), MCCBs (Molded Case Circuit Breakers), load break switches, safety switches, disconnectors, fuses, and low-voltage air circuit breakers. Positioned on the secondary side of a distribution transformer, this arrangement is often referred to as a substation. These switchgears are typically metal-enclosed and serve as three-phase power distribution products designed to supply electric power safely and efficiently at voltages up to 1,000 volts and currents up to 6,000 amperes.
“Europe to be second-largest region in switchgear market.”
In 2022, Europe secured the second-largest position in the switchgear market, holding a share of 22.6% with a market valuation of USD 20.39 billion. The European switchgear market is dissected by country, including the UK, Germany, France, Italy, and the Rest of Europe.
On July 14, 2021, the European Commission (EU) unveiled the initial segment of its “Fit for 55” initiative, targeting a 55% reduction in the EU’s carbon emissions by 2030 compared to 1990 levels. This ambitious plan, aligned with achieving climate neutrality by 2050, emphasizes increased energy consumption from renewable sources. Given the maturity of European power generation, transmission, and distribution systems, the EU is directing efforts toward modernizing aging infrastructure, integrating solar and wind power, and establishing interconnections to facilitate more efficient power and energy trading. This transition necessitates a shift from electromechanical to digital switchgear, potentially driving up demand for switchgears.
Breakdown of Primaries:
In-depth interviews with key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, were conducted to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The primary interviews were distributed as follows:
By Company Type: Tier 1-30%, Tier 2-55%, and Tier 3-15%
By Designation: C-Level-30%, D-Level-20%, and Others-50%
By Region: North America–18%, Europe–8%, Asia Pacific–10%, South America–4% and
Middle East & Africa–60%.
Note: “Others” include sales managers, engineers, and regional managers
The tiers of the companies are defined based on their total revenue as of 2021: Tier 1: >USD 1 billion, Tier 2: USD 500 million–1 billion, and Tier 3: <USD 500 million.
The switchgear market is predominantly governed by well-established global leaders. Notable players in the switchgear market include ABB (Switzerland), Siemens (Germany), General Electric (US), Schneider Electric (France), Eaton (Ireland), Mitsubishi Electric (Japan), Hitachi (Japan), CG Power and Industrial Solutions (India), Fuji Electric (Japan), Powell Industries (US), Hyundai Electric & Energy Systems (South Korea), Toshiba (Japan), and several others.
Research Coverage:
The report provides a comprehensive definition, description, and forecast of the switchgear market based on various parameters, including Insulation (Air Insulated, Gas Insulated, Others), Installation (Indoor, Outdoor), Voltage Rating (Low, Medium, High), Current (AC,DC), End-User (Transmission & Distribution Utilities, Industries, Commercial & Residential, Others), and region (Asia Pacific, North America, Europe, Middle East and Africa, South America). The report also offers a thorough qualitative and quantitative analysis of the switchgear market, encompassing a comprehensive examination of the key market drivers, limitations, opportunities, and challenges. Additionally, it covers critical facets of the market, such as an assessment of the competitive landscape, an analysis of market dynamics, value-based market estimates, and future trends in the switchgear market.
Key Benefits of Buying the Report
The report is thoughtfully designed to benefit both established industry leaders and newcomers in the switchgear market. It provides reliable revenue forecasts for the entire market as well as its individual sub-segments. This data is a valuable resource for stakeholders, enabling them to gain a comprehensive understanding of the competitive landscape and formulate effective market strategies for their businesses. Furthermore, the report serves as a channel for stakeholders to grasp the current state of the market, providing essential insights into market drivers, limitations, challenges, and growth opportunities. By incorporating these insights, stakeholders can make well-informed decisions and stay informed about the constantly evolving dynamics of the switchgear industry.
• Analysis of key drivers: (Development of power distribution infrastructure to drive the switchgear market, Rapid growth in renewable energy-based capacity expansion to boost the switchgear market, Rising investment in industrial production is likely to propel the switchgear market), restraints (Regulatory restrictions on SF6 gas emissions, Downturn in the residential property market), opportunities (Advancements in smart technologies and digital transformation, Increasing adoption of high-voltage direct current systems), and challenges (Operational challenges such as high temperature, arc flashing and over pressure, Intense competition from the unorganized sector) influencing the growth of the switchgear market.
• Product Development/ Innovation: The switchgear market is in a constant state of evolution, with a primary focus on product development and innovation. Leading industry players like ABB, Siemens, Schneider Electric, and General Electric are at the forefront of advancing their product offerings to address shifting demands and environmental considerations. There is a notable shift towards enhancing the intelligence of switchgear.
• Market Development: The switchgear market is experiencing significant growth and development driven by various factors. SF6 is an incredibly potent greenhouse gas, with a global warming effect 23,500 times more powerful than CO2. Its annual CO2 emissions are equivalent to those produced by about 100 million cars in a year. Moreover, as a synthetic gas with no natural degradation process, its accumulation in the atmosphere is likely irreversible. SF6 is extensively used in the energy industry due to its excellent electrical properties, with 80% of its production employed as an insulating medium in gas-insulated switchgear (GIS) within the electrical sector.
Regulatory bodies are intensifying their scrutiny of SF6 due to its severe environmental impact. In this context, the European Union introduced strict F-gas regulations in 2006 and 2014, further tightening restrictions on SF6 usage in switchgear. In 2022, the legislation will undergo a second revision to assess new technologies and explore further means to limit SF6 usage. In November 2021, nine major T&D (Transmission and Distribution) switchgear manufacturers issued a joint statement, committing to deliver SF6 and PFAS-gas (Per-and Polyfluoroalkyl Substances)-free T&D equipment, aimed at achieving genuinely sustainable power grids.
• Market Diversification: The switchgear market is experiencing significant diversification, driven by a multitude of factors. Rising investment in industrial production is likely to propel the switchgear market. The COVID-19 pandemic caused disruptions in industrial production, with many projects and expansions postponed. As pandemic restrictions ease globally, industrial production is gradually recovering. The International Monetary Fund reported a 3.1% global GDP decline in 2022. According to the United Nations Industrial Development Organization (UNIDO), global industrial production grew by 3.3% in 2022, driven by emerging APAC industries like India and China. For example, Madhya Pradesh, India, approved plans for five new industrial areas in April 2022 to boost industrial production. In the same month, Malaysia and China signed 100 memorandums of understanding to enhance collaboration and expand industrial parks, indicating numerous industrial projects are underway. This situation bodes well for switchgear, essential for power safety and regulation in industrial settings.
• Competitive Assessment: A comprehensive evaluation has been conducted to scrutinize the market presence, growth strategies, and service offerings of key players in the switchgear market. These prominent companies include Eaton (Ireland), ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), and others. This analysis provides in-depth insights into the competitive positions of these major players, their approaches to driving market growth, and the range of services they offer within the switchgear segment.
Table of Contents
1 INTRODUCTION 32
1.1 STUDY OBJECTIVES 32
1.2 MARKET DEFINITION 32
1.3 INCLUSIONS AND EXCLUSIONS 33
1.3.1 SWITCHGEAR MARKET, BY INSULATION 33
1.3.2 SWITCHGEAR MARKET, BY INSTALLATION 33
1.3.3 SWITCHGEAR MARKET, BY VOLTAGE 33
1.3.4 SWITCHGEAR MARKET, BY CURRENT 33
1.3.5 SWITCHGEAR MARKET, BY END USER 34
1.3.6 SWITCHGEAR MARKET, BY REGION 34
1.4 MARKETS COVERED 34
1.4.1 SWITCHGEAR MARKET SEGMENTATION 34
1.4.2 REGIONAL SCOPE 35
1.5 YEARS CONSIDERED 35
1.6 CURRENCY CONSIDERED 36
1.7 LIMITATIONS 36
1.8 STAKEHOLDERS 36
1.9 SUMMARY OF CHANGES 37
1.10 RECESSION IMPACT 37
2 RESEARCH METHODOLOGY 38
2.1 RESEARCH DATA 38
FIGURE 1 SWITCHGEAR MARKET: RESEARCH DESIGN 38
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 39
FIGURE 2 DATA TRIANGULATION 39
2.2.1 SECONDARY DATA 39
2.2.1.1 Key data from secondary sources 40
2.2.2 PRIMARY DATA 40
2.2.2.1 Breakdown of primaries 40
FIGURE 3 KEY DATA FROM PRIMARY SOURCES 41
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION 41
FIGURE 5 MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR SWITCHGEARS 42
2.3 MARKET SIZE ESTIMATION 42
2.3.1 BOTTOM-UP APPROACH 42
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 42
2.3.2 TOP-DOWN APPROACH 43
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 43
2.3.3 DEMAND-SIDE ANALYSIS 44
2.3.3.1 Regional analysis 44
2.3.3.2 Country-level analysis 44
2.3.3.3 Demand-side assumptions 45
2.3.3.4 Demand-side calculations 45
2.3.4 SUPPLY-SIDE ANALYSIS 45
FIGURE 8 KEY STEPS CONSIDERED TO ASSESS SUPPLY OF SWITCHGEARS 45
FIGURE 9 SWITCHGEAR MARKET: SUPPLY-SIDE ANALYSIS 46
2.3.4.1 Supply-side calculations 46
2.3.4.2 Supply-side assumptions 46
2.3.5 FORECAST 47
2.4 RISK ASSESSMENT 47
3 EXECUTIVE SUMMARY 48
TABLE 1 SWITCHGEAR MARKET SNAPSHOT 49
FIGURE 10 ASIA PACIFIC DOMINATED SWITCHGEAR MARKET IN 2022 50
FIGURE 11 AIR-INSULATED SWITCHGEARS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BETWEEN 2023 AND 2028 51
FIGURE 12 INDOOR SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE FROM 2023 TO 2028 51
FIGURE 13 HIGH (ABOVE 36 KV) SEGMENT TO DOMINATE SWITCHGEAR MARKET FROM 2023 TO 2028 52
FIGURE 14 AC SEGMENT TO COMMAND LARGER MARKET SHARE MARKET FROM 2023 TO 2028 52
FIGURE 15 TRANSMISSION & DISTRIBUTION UTILITIES SEGMENT TO HOLD LARGEST MARKET SHARE FROM 2023 TO 2028 53
4 PREMIUM INSIGHTS 54
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SWITCHGEAR MARKET 54
FIGURE 16 ENHANCEMENT OF POWER DISTRIBUTION INFRASTRUCTURE WORLDWIDE TO PROPEL MARKET FROM 2023 TO 2028 54
4.2 SWITCHGEAR MARKET, BY REGION 54
FIGURE 17 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD 54
4.3 ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER AND COUNTRY, 2022 55
FIGURE 18 TRANSMISSION & DISTRIBUTION UTILITIES AND CHINA HELD LARGEST SHARES OF MARKET IN ASIA PACIFIC IN 2022 55
4.4 SWITCHGEAR MARKET, BY INSULATION 55
FIGURE 19 AIR-INSULATED SWITCHGEARS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2028 55
4.5 SWITCHGEAR MARKET, BY INSTALLATION 56
FIGURE 20 INDOOR SEGMENT TO DOMINATE MARKET IN 2028 56
4.6 SWITCHGEAR MARKET, BY VOLTAGE 56
FIGURE 21 HIGH (ABOVE 36 KV) SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2028 56
4.7 SWITCHGEAR MARKET, BY CURRENT 57
FIGURE 22 AC SEGMENT TO LEAD MARKET IN 2028 57
4.8 SWITCHGEAR MARKET, BY END USER 57
FIGURE 23 TRANSMISSION & DISTRIBUTION UTILITIES SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2028 57
5 MARKET OVERVIEW 58
5.1 INTRODUCTION 58
5.2 MARKET DYNAMICS 59
FIGURE 24 SWITCHGEAR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 59
5.2.1 DRIVERS 59
5.2.1.1 Modernization of power distribution infrastructure worldwide 59
5.2.1.2 Rapid growth in renewable energy-based capacity expansion 60
FIGURE 25 GLOBAL INSTALLED RENEWABLE ENERGY CAPACITY, 2016–2022 60
5.2.1.3 Rising investments in industrial production 60
FIGURE 26 GLOBAL GDP GROWTH, 2010–2022 61
5.2.2 RESTRAINTS 61
5.2.2.1 Regulatory restrictions on SF6 gas emissions 61
TABLE 2 GLOBAL WARMING POTENTIAL OF GREENHOUSE GASES (100-YEAR TIME HORIZON) 62
5.2.2.2 Downturn in residential property market 62
5.2.3 OPPORTUNITIES 63
5.2.3.1 Advancements in smart technologies and digital transformation 63
5.2.3.2 Increasing adoption of high-voltage direct current (HVDC) systems 63
5.2.4 CHALLENGES 64
5.2.4.1 Operational challenges associated with switchgears 64
5.2.4.2 Intense competition from unorganized sector 64
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESSES 64
FIGURE 27 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 65
5.4 PRICING ANALYSIS 65
5.4.1 INDICATIVE PRICING ANALYSIS, BY VOLTAGE 66
5.4.2 AVERAGE SELLING PRICE TREND, BY REGION 66
5.5 VALUE CHAIN ANALYSIS 66
FIGURE 28 SWITCHGEAR MARKET: VALUE CHAIN ANALYSIS 67
5.5.1 RAW MATERIAL PROVIDERS/SUPPLIERS 67
5.5.2 COMPONENT MANUFACTURERS 67
5.5.3 SWITCHGEAR MANUFACTURERS/ASSEMBLERS 67
5.5.4 DISTRIBUTORS 68
5.5.5 END USERS 68
5.5.6 POST-SALES SERVICE PROVIDERS 68
5.6 ECOSYSTEM/MARKET MAP 68
FIGURE 29 SWITCHGEAR MARKET: MARKET MAP 68
TABLE 3 SWITCHGEAR MARKET: ROLE OF COMPANIES IN ECOSYSTEM 69
5.7 TECHNOLOGY ANALYSIS 71
5.7.1 IOT-CONNECTED SWITCHGEARS 71
5.7.2 SF6-FREE SWITCHGEARS 71
5.8 PATENT ANALYSIS 72
FIGURE 30 SWITCHGEAR MARKET: PATENTS GRANTED AND APPLIED, 2012–2022 72
TABLE 4 LIST OF MAJOR PATENTS PERTAINING TO SWITCHGEAR MARKET, MAY 2018–DECEMBER 2022 73
5.9 TRADE ANALYSIS 74
5.9.1 TRADE ANALYSIS FOR HS CODE 853590 74
5.9.2 IMPORT SCENARIO 74
TABLE 5 IMPORT SCENARIO FOR HS CODE 853590, BY COUNTRY, 2020–2022 (USD THOUSAND ) 74
FIGURE 31 IMPORT DATA FOR HS CODE 853590, BY COUNTRY, 2018–2022 (USD THOUSAND) 75
5.9.3 EXPORT SCENARIO 75
TABLE 6 EXPORT SCENARIO FOR HS CODE 853590, BY COUNTRY, 2020–2022 (USD THOUSAND) 75
FIGURE 32 EXPORT DATA FOR HS CODE 853590, BY COUNTRY, 2018–2022 (USD THOUSAND) 76
5.9.4 TRADE ANALYSIS FOR HS CODE 853690 76
5.9.5 IMPORT SCENARIO 76
TABLE 7 IMPORT SCENARIO FOR HS CODE 853690, BY COUNTRY, 2020–2022 (USD THOUSAND) 76
FIGURE 33 IMPORT DATA FOR HS CODE 853690, BY COUNTRY, 2018–2022 (USD THOUSAND) 77
5.9.6 EXPORT SCENARIO 77
TABLE 8 EXPORT SCENARIO FOR HS CODE 853690, BY COUNTRY, 2020–2022 (USD THOUSAND) 77
FIGURE 34 EXPORT DATA FOR HS CODE 853690, BY COUNTRY, 2018–2022 (USD THOUSAND) 78
5.10 KEY CONFERENCES & EVENTS, 2023–2024 78
TABLE 9 SWITCHGEAR MARKET: DETAILED LIST OF CONFERENCES & EVENTS 78
5.11 TARIFFS AND REGULATORY LANDSCAPE 80
5.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 80
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 80
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 81
TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 82
TABLE 13 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 83
5.11.2 REGULATORY FRAMEWORK 84
TABLE 14 SWITCHGEAR: CODES AND REGULATIONS 84
5.11.2.1 Tariffs related to switchgears 86
TABLE 15 IMPORT TARIFFS FOR HS CODE 8536-COMPLIANT PRODUCTS, 2022 86
TABLE 16 IMPORT TARIFFS FOR HS CODE 8535-COMPLIANT PRODUCTS, 2022 86
5.12 PORTER’S FIVE FORCES ANALYSIS 87
FIGURE 35 SWITCHGEAR MARKET: PORTER’S FIVE FORCES ANALYSIS 87
TABLE 17 SWITCHGEAR MARKET: IMPACT OF PORTER’S FIVE FORCES 87
5.12.1 THREAT OF SUBSTITUTES 88
5.12.2 BARGAINING POWER OF SUPPLIERS 88
5.12.3 BARGAINING POWER OF BUYERS 88
5.12.4 THREAT OF NEW ENTRANTS 88
5.12.5 INTENSITY OF COMPETITIVE RIVALRY 89
5.13 CASE STUDY ANALYSIS 89
5.13.1 MUNICIPAL UTILITY ENHANCED DISTRIBUTION SYSTEM’S SAFETY AND RELIABILITY BY ADOPTING ELASTIMOLD SOLID-DIELECTRIC SWITCHGEAR 89
5.13.1.1 Problem statement: April 2022 89
5.13.1.2 Solution 89
5.13.2 BECKENRIED MUNICIPAL UTILITY ENHANCED SERVICES BY UPGRADING TO EATON SF6-FREE XIRIA E-SWITCHGEAR SYSTEM 89
5.13.2.1 Problem statement: April 2022 89
5.13.2.2 Solution 90
5.13.3 ABB CUSTOMIZED RETROFIT SWITCHGEAR FOR GREYSTONE POWER CORPORATION 90
5.13.3.1 Problem statement: April 2021 90
5.13.3.2 Solution 90
5.13.4 GAASPERDAMMER TUNNEL PROJECT ACHIEVED SUSTAINABILITY THROUGH IMPLEMENTATION OF SWITCHGEARS 91
5.13.4.1 Problem statement: April 2021 91
5.13.4.2 Solution 91
5.14 KEY STAKEHOLDERS & BUYING CRITERIA 91
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 91
FIGURE 36 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS 91
TABLE 18 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS (%) 92
5.14.2 BUYING CRITERIA 92
FIGURE 37 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS 92
TABLE 19 KEY BUYING CRITERIA FOR TOP THREE END USERS 92
6 SWITCHGEAR MARKET, BY INSULATION 93
6.1 INTRODUCTION 94
FIGURE 38 SWITCHGEAR MARKET SHARE, IN TERMS OF VALUE, BY INSULATION, 2022 94
TABLE 20 SWITCHGEAR MARKET, BY INSULATION, 2020–2022 (USD BILLION) 94
TABLE 21 SWITCHGEAR MARKET, BY INSULATION, 2023–2028 (USD BILLION) 95
6.2 AIR-INSULATED SWITCHGEARS 95
6.2.1 EXPANSION OF GLOBAL GRID INFRASTRUCTURE TO BOOST DEMAND FOR AIR-INSULATED SWITCHGEARS 95
TABLE 22 AIR-INSULATED SWITCHGEARS: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 95
TABLE 23 AIR-INSULATED SWITCHGEARS: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 96
6.3 GAS-INSULATED SWITCHGEARS 96
6.3.1 LOW MAINTENANCE NEEDS TO BOOST ADOPTION OF GAS-INSULATED SWITCHGEARS 96
TABLE 24 GAS-INSULATED SWITCHGEARS: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 96
TABLE 25 GAS-INSULATED SWITCHGEARS: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 97
6.4 OTHER INSULATION TYPES 97
TABLE 26 OTHER INSULATION TYPES: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 97
TABLE 27 OTHER INSULATION TYPES: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 98
7 SWITCHGEAR MARKET, BY INSTALLATION 99
7.1 INTRODUCTION 100
FIGURE 39 SWITCHGEAR MARKET SHARE, IN TERMS OF VALUE, BY INSTALLATION, 2022 100
TABLE 28 SWITCHGEAR MARKET, BY INSTALLATION, 2020–2022 (USD BILLION) 100
TABLE 29 SWITCHGEAR MARKET, BY INSTALLATION, 2023–2028 (USD BILLION) 100
7.2 INDOOR 101
7.2.1 RISING INVESTMENTS IN RENEWABLE ENERGY TO PROPEL DEMAND FOR INDOOR SWITCHGEARS 101
TABLE 30 INDOOR: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 101
TABLE 31 INDOOR: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 101
7.3 OUTDOOR 102
7.3.1 INCREASING LONG-DISTANCE POWER TRANSMISSION TO FUEL DEMAND FOR OUTDOOR SWITCHGEARS 102
TABLE 32 OUTDOOR: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 102
TABLE 33 OUTDOOR: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 102
8 SWITCHGEAR MARKET, BY VOLTAGE 103
8.1 INTRODUCTION 104
FIGURE 40 SWITCHGEAR MARKET SHARE, IN TERMS OF VALUE, BY VOLTAGE, 2022 104
TABLE 34 SWITCHGEAR MARKET, BY VOLTAGE, 2020–2022 (USD BILLION) 104
TABLE 35 SWITCHGEAR MARKET, BY VOLTAGE, 2023–2028 (USD BILLION) 104
8.2 LOW (UP TO 1 KV) 105
8.2.1 GROWING USE OF ELECTRICAL DEVICES AND MACHINERY ACROSS INDUSTRIES TO DRIVE DEMAND FOR LOW-VOLTAGE SWITCHGEARS 105
TABLE 36 LOW: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 105
TABLE 37 LOW: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 106
8.3 MEDIUM (2–36 KV) 106
8.3.1 WIDESPREAD USE OF MEDIUM-VOLTAGE SWITCHGEARS IN PROCESS INDUSTRIES TO DRIVE SEGMENTAL LANDSCAPE 106
TABLE 38 MEDIUM: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 106
TABLE 39 MEDIUM: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 107
8.4 HIGH (ABOVE 36 KV) 107
8.4.1 RISE IN ELECTRIFICATION AND RENEWABLE INTEGRATION TO FUEL DEMAND FOR HIGH-VOLTAGE SWITCHGEARS 107
TABLE 40 HIGH: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 107
TABLE 41 HIGH: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 108
9 SWITCHGEAR MARKET, BY CURRENT 109
9.1 INTRODUCTION 110
FIGURE 41 SWITCHGEAR MARKET SHARE, IN TERMS OF VALUE, BY CURRENT, 2022 110
TABLE 42 SWITCHGEAR MARKET, BY CURRENT, 2020–2022 (USD BILLION) 110
TABLE 43 SWITCHGEAR MARKET, BY CURRENT, 2023–2028 (USD BILLION) 110
9.2 AC 111
9.2.1 GROWING ELECTRIFICATION OF REMOTE AREAS TO PROPEL DEMAND FOR AC SWITCHGEARS 111
TABLE 44 AC: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 111
TABLE 45 AC: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 111
9.3 DC 112
9.3.1 RISING INVESTMENTS IN RENEWABLE ENERGY GENERATION TO INDUCE DEMAND FOR DC SWITCHGEARS 112
TABLE 46 DC: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 112
TABLE 47 DC SWITCHGEARS MARKET, BY REGION, 2023–2028 (USD BILLION) 112
10 SWITCHGEAR MARKET, BY END USER 113
10.1 INTRODUCTION 114
FIGURE 42 SWITCHGEAR MARKET SHARE, IN TERMS OF VALUE, BY END USER, 2022 114
TABLE 48 SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 114
TABLE 49 SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 114
10.2 TRANSMISSION & DISTRIBUTION UTILITIES 115
10.2.1 WORLDWIDE ELECTRIFICATION INITIATIVES TO BOOST ADOPTION OF SWITCHGEARS AMONG TRANSMISSION AND DISTRIBUTION UTILITIES 115
TABLE 50 TRANSMISSION & DISTRIBUTION UTILITIES: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 115
TABLE 51 TRANSMISSION & DISTRIBUTION UTILITIES: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 115
10.3 INDUSTRIES 116
10.3.1 RAPID INDUSTRIALIZATION IN DEVELOPING ECONOMIES TO SUPPORT SEGMENTAL GROWTH 116
TABLE 52 INDUSTRIES: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 116
TABLE 53 INDUSTRIES: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 116
10.4 COMMERCIAL & RESIDENTIAL USERS 117
10.4.1 GROWING RESIDENTIAL AND COMMERCIAL CONSTRUCTIONS TO DRIVE SEGMENTAL LANDSCAPE 117
TABLE 54 COMMERCIAL & RESIDENTIAL USERS: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 117
TABLE 55 COMMERCIAL & RESIDENTIAL USERS: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 117
10.5 OTHER END USERS 118
TABLE 56 OTHER END USERS: SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 118
TABLE 57 OTHER END USERS: SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 118
11 SWITCHGEAR MARKET, BY REGION 119
11.1 INTRODUCTION 120
FIGURE 43 SWITCHGEAR MARKET SHARE, IN TERMS OF VALUE, BY REGION, 2022 120
FIGURE 44 ASIA PACIFIC SWITCHGEAR MARKET TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 121
TABLE 58 SWITCHGEAR MARKET, BY REGION, 2020–2022 (USD BILLION) 121
TABLE 59 SWITCHGEAR MARKET, BY REGION, 2023–2028 (USD BILLION) 121
TABLE 60 SWITCHGEAR MARKET, BY VOLUME, 2020–2022 (UNITS) 122
TABLE 61 SWITCHGEAR MARKET, BY VOLUME, 2023–2028 (UNITS) 122
11.2 ASIA PACIFIC 122
11.2.1 ASIA PACIFIC: RECESSION IMPACT 122
FIGURE 45 ASIA PACIFIC: SWITCHGEAR MARKET SNAPSHOT 123
11.2.2 BY INSULATION 123
TABLE 62 ASIA PACIFIC: SWITCHGEAR MARKET, BY INSULATION, 2020–2022 (USD BILLION) 123
TABLE 63 ASIA PACIFIC: SWITCHGEAR MARKET, BY INSULATION, 2023–2028 (USD BILLION) 124
11.2.3 BY INSTALLATION 124
TABLE 64 ASIA PACIFIC: SWITCHGEAR MARKET, BY INSTALLATION, 2020–2022 (USD BILLION) 124
TABLE 65 ASIA PACIFIC: SWITCHGEAR MARKET, BY INSTALLATION, 2023–2028 (USD BILLION) 124
11.2.4 BY VOLTAGE 124
TABLE 66 ASIA PACIFIC: SWITCHGEAR MARKET, BY VOLTAGE, 2020–2022 (USD BILLION) 124
TABLE 67 ASIA PACIFIC: SWITCHGEAR MARKET, BY VOLTAGE, 2023–2028 (USD BILLION) 125
11.2.5 BY CURRENT 125
TABLE 68 ASIA PACIFIC: SWITCHGEAR MARKET, BY CURRENT, 2020–2022 (USD BILLION) 125
TABLE 69 ASIA PACIFIC: SWITCHGEAR MARKET, BY CURRENT, 2023–2028 (USD BILLION) 125
11.2.6 BY END USER 125
TABLE 70 ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 125
TABLE 71 ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 126
11.2.7 BY COUNTRY 126
TABLE 72 ASIA PACIFIC: SWITCHGEAR MARKET, BY COUNTRY, 2020–2022 (USD BILLION) 126
TABLE 73 ASIA PACIFIC: SWITCHGEAR MARKET, BY COUNTRY, 2023–2028 (USD BILLION) 126
11.2.7.1 China 127
11.2.7.1.1 Rising investments in clean power generation to propel market 127
TABLE 74 CHINA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 127
TABLE 75 CHINA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 127
11.2.7.2 India 128
11.2.7.2.1 Increasing electrification of remote areas to stimulate demand for switchgears 128
TABLE 76 INDIA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 128
TABLE 77 INDIA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 128
11.2.7.3 Japan 128
11.2.7.3.1 Ongoing upgrades of aged infrastructure to create demand for switchgears 129
TABLE 78 JAPAN: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 129
TABLE 79 JAPAN: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 129
11.2.7.4 Australia 130
11.2.7.4.1 Railway electrification initiatives to propel need for switchgears 130
TABLE 80 AUSTRALIA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 130
TABLE 81 AUSTRALIA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 130
11.2.7.5 Rest of Asia Pacific 131
TABLE 82 REST OF ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 131
TABLE 83 REST OF ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 131
11.3 EUROPE 132
11.3.1 EUROPE: RECESSION IMPACT 132
FIGURE 46 EUROPE: SWITCHGEAR MARKET SNAPSHOT 133
11.3.2 BY INSULATION 133
TABLE 84 EUROPE: SWITCHGEAR MARKET, BY INSULATION, 2020–2022 (USD BILLION) 133
TABLE 85 EUROPE: SWITCHGEAR MARKET, BY INSULATION, 2023–2028 (USD BILLION) 134
11.3.3 BY INSTALLATION 134
TABLE 86 EUROPE: SWITCHGEAR MARKET, BY INSTALLATION, 2020–2022 (USD BILLION) 134
TABLE 87 EUROPE: SWITCHGEAR MARKET, BY INSTALLATION, 2023–2028 (USD BILLION) 134
11.3.4 BY VOLTAGE 134
TABLE 88 EUROPE: SWITCHGEAR MARKET, BY VOLTAGE, 2020–2022 (USD BILLION) 134
TABLE 89 EUROPE: SWITCHGEAR MARKET, BY VOLTAGE, 2023–2028 (USD BILLION) 135
11.3.5 BY CURRENT 135
TABLE 90 EUROPE: SWITCHGEAR MARKET, BY CURRENT, 2020–2022 (USD BILLION) 135
TABLE 91 EUROPE: SWITCHGEAR MARKET, BY CURRENT, 2023–2028 (USD BILLION) 135
11.3.6 BY END USER 135
TABLE 92 EUROPE: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 135
TABLE 93 EUROPE: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 136
11.3.7 BY COUNTRY 136
TABLE 94 EUROPE: SWITCHGEAR MARKET, BY COUNTRY, 2020–2022 (USD BILLION) 136
TABLE 95 EUROPE: SWITCHGEAR MARKET, BY COUNTRY, 2023–2028 (USD BILLION) 136
11.3.7.1 Germany 137
11.3.7.1.1 Increasing emphasis on enhancing energy efficiency and expanding grid infrastructure to drive market 137
TABLE 96 GERMANY: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 137
TABLE 97 GERMANY: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 137
11.3.7.2 UK 138
11.3.7.2.1 Increasing renewable integration to foster market growth 138
TABLE 98 UK: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 138
TABLE 99 UK: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 138
11.3.7.3 Italy 139
11.3.7.3.1 Expansion of grid interconnections to fuel demand for switchgears 139
TABLE 100 ITALY: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 139
TABLE 101 ITALY: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 139
11.3.7.4 France 140
11.3.7.4.1 Rising emphasis on expanding renewable energy capacity to create opportunities for market players 140
TABLE 102 FRANCE: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 140
TABLE 103 FRANCE: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 140
11.3.7.5 Rest of Europe 141
TABLE 104 REST OF EUROPE: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 141
TABLE 105 REST OF EUROPE: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 141
11.4 NORTH AMERICA 141
11.4.1 BY INSULATION 142
TABLE 106 NORTH AMERICA: SWITCHGEAR MARKET, BY INSULATION, 2020–2022 (USD BILLION) 142
TABLE 107 NORTH AMERICA: SWITCHGEAR MARKET, BY INSULATION, 2023–2028 (USD BILLION) 142
11.4.2 BY INSTALLATION 142
TABLE 108 NORTH AMERICA: SWITCHGEAR MARKET, BY INSTALLATION, 2020–2022 (USD BILLION) 142
TABLE 109 NORTH AMERICA: SWITCHGEAR MARKET, BY INSTALLATION, 2023–2028 (USD BILLION) 143
11.4.3 BY VOLTAGE 143
TABLE 110 NORTH AMERICA: SWITCHGEAR MARKET, BY VOLTAGE, 2020–2022 (USD BILLION) 143
TABLE 111 NORTH AMERICA: SWITCHGEAR MARKET, BY VOLTAGE, 2023–2028 (USD BILLION) 143
11.4.4 BY CURRENT 143
TABLE 112 NORTH AMERICA: SWITCHGEAR MARKET, BY CURRENT, 2020–2022 (USD BILLION) 143
TABLE 113 NORTH AMERICA: SWITCHGEAR MARKET, BY CURRENT, 2023–2028 (USD BILLION) 144
11.4.5 BY END USER 144
TABLE 114 NORTH AMERICA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 144
TABLE 115 NORTH AMERICA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 144
11.4.6 BY COUNTRY 144
TABLE 116 NORTH AMERICA: SWITCHGEAR MARKET, BY COUNTRY, 2020–2022 (USD BILLION) 144
TABLE 117 NORTH AMERICA: SWITCHGEAR MARKET, BY COUNTRY, 2023–2028 (USD BILLION) 145
11.4.6.1 US 145
11.4.6.1.1 Development of power infrastructure to drive market 145
TABLE 118 US: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 146
TABLE 119 US: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 146
11.4.6.2 Canada 146
11.4.6.2.1 Increasing low-emission power generation and investments in renewables to contribute to market growth 146
TABLE 120 CANADA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 147
TABLE 121 CANADA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 147
11.4.6.3 Mexico 147
11.4.6.3.1 Rising investments in electric power infrastructure development to foster market growth 147
TABLE 122 MEXICO: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 148
TABLE 123 MEXICO: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 148
11.5 MIDDLE EAST & AFRICA 148
11.5.1 MIDDLE EAST & AFRICA: RECESSION IMPACT 149
11.5.2 BY INSULATION 149
TABLE 124 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY INSULATION, 2020–2022 (USD BILLION) 149
TABLE 125 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY INSULATION, 2023–2028 (USD BILLION) 149
11.5.3 BY INSTALLATION 149
TABLE 126 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY INSTALLATION, 2020–2022 (USD BILLION) 149
TABLE 127 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY INSTALLATION, 2023–2028 (USD BILLION) 150
11.5.4 BY VOLTAGE 150
TABLE 128 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY VOLTAGE, 2020–2022 (USD BILLION) 150
TABLE 129 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY VOLTAGE, 2023–2028 (USD BILLION) 150
11.5.5 BY CURRENT 150
TABLE 130 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY CURRENT, 2020–2022 (USD BILLION) 150
TABLE 131 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY CURRENT, 2023–2028 (USD BILLION) 151
11.5.6 BY END USER 151
TABLE 132 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 151
TABLE 133 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 151
11.5.7 BY COUNTRY 152
TABLE 134 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY COUNTRY, 2020–2022 (USD BILLION) 152
TABLE 135 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY COUNTRY, 2023–2028 (USD BILLION) 152
11.5.7.1 Gulf Cooperation Council (GCC) countries 152
11.5.7.1.1 Saudi Arabia 153
11.5.7.1.1.1 Increasing power generation from renewables to accelerate market growth 153
TABLE 136 SAUDI ARABIA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 153
TABLE 137 SAUDI ARABIA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 153
11.5.7.1.2 UAE 154
11.5.7.1.2.1 Increasing power demand to create lucrative opportunities for market players 154
TABLE 138 UAE: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 154
TABLE 139 UAE: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 154
11.5.7.1.3 Rest of GCC countries 155
TABLE 140 REST OF GCC COUNTRIES: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 155
TABLE 141 REST OF GCC COUNTRIES: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 156
11.5.7.2 Egypt 156
11.5.7.2.1 Investments in development of power generation infrastructure to augment market growth 156
TABLE 142 EGYPT: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 156
TABLE 143 EGYPT: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 157
11.5.7.3 South Africa 157
11.5.7.3.1 Initiation of wind power development projects to favor market growth 157
TABLE 144 SOUTH AFRICA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 157
TABLE 145 SOUTH AFRICA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 158
11.5.7.4 Rest of Middle East & Africa 158
TABLE 146 REST OF MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 158
TABLE 147 REST OF MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 158
11.6 SOUTH AMERICA 159
11.6.1 SOUTH AMERICA: RECESSION IMPACT 159
11.6.2 BY INSULATION 159
TABLE 148 SOUTH AMERICA: SWITCHGEAR MARKET, BY INSULATION, 2020–2022 (USD BILLION) 159
TABLE 149 SOUTH AMERICA: SWITCHGEAR MARKET, BY INSULATION, 2023–2028 (USD BILLION) 159
11.6.3 BY INSTALLATION 160
TABLE 150 SOUTH AMERICA: SWITCHGEAR MARKET, BY INSTALLATION, 2020–2022 (USD BILLION) 160
TABLE 151 SOUTH AMERICA: SWITCHGEAR MARKET, BY INSTALLATION, 2023–2028 (USD BILLION) 160
11.6.4 BY VOLTAGE 160
TABLE 152 SOUTH AMERICA: SWITCHGEAR MARKET, BY VOLTAGE, 2020–2022 (USD BILLION) 160
TABLE 153 SOUTH AMERICA: SWITCHGEAR MARKET, BY VOLTAGE, 2023–2028 (USD BILLION) 160
11.6.5 BY CURRENT 161
TABLE 154 SOUTH AMERICA: SWITCHGEAR MARKET, BY CURRENT, 2020–2022 (USD BILLION) 161
TABLE 155 SOUTH AMERICA: SWITCHGEAR MARKET, BY CURRENT, 2023–2028 (USD BILLION) 161
11.6.6 BY END USER 161
TABLE 156 SOUTH AMERICA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 161
TABLE 157 SOUTH AMERICA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 161
11.6.7 BY COUNTRY 162
TABLE 158 SOUTH AMERICA: SWITCHGEAR MARKET, BY COUNTRY, 2020–2022 (USD BILLION) 162
TABLE 159 SOUTH AMERICA: SWITCHGEAR MARKET, BY COUNTRY, 2023–2028 (USD BILLION) 162
11.6.7.1 Brazil 162
11.6.7.1.1 Increasing number of electrification projects to drive demand for switchgears 162
TABLE 160 BRAZIL: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 163
TABLE 161 BRAZIL: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 163
11.6.7.2 Argentina 163
11.6.7.2.1 Government initiatives promoting utilization of renewable energy to support market growth 163
TABLE 162 ARGENTINA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION) 164
TABLE 163 ARGENTINA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 164
11.6.7.3 Rest of South America 164
TABLE 164 REST OF SOUTH AMERICA: SWITCHGEAR MARKET, BY END USER, 2020–2022 (USD BILLION)S 164
TABLE 165 REST OF SOUTH AMERICA: SWITCHGEAR MARKET, BY END USER, 2023–2028 (USD BILLION) 165
12 COMPETITIVE LANDSCAPE 166
12.1 OVERVIEW 166
12.2 STRATEGIES ADOPTED BY KEY PLAYERS 166
TABLE 166 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, APRIL 2019–MARCH 2023 166
12.3 MARKET SHARE ANALYSIS 168
TABLE 167 SWITCHGEAR MARKET: DEGREE OF COMPETITION 169
FIGURE 47 SWITCHGEAR MARKET SHARE ANALYSIS, 2022 169
12.4 REVENUE ANALYSIS 170
FIGURE 48 REVENUE ANALYSIS OF KEY PLAYERS IN SWITCHGEAR MARKET, 2018–2022 170
12.5 MARKET EVALUATION FRAMEWORK 170
TABLE 168 MARKET EVALUATION FRAMEWORK, 2018–2022 171
12.6 COMPANY EVALUATION MATRIX 172
12.6.1 STARS 172
12.6.2 EMERGING LEADERS 172
12.6.3 PERVASIVE PLAYERS 172
12.6.4 PARTICIPANTS 172
FIGURE 49 COMPANY EVALUATION MATRIX, 2022 173
12.6.5 COMPANY FOOTPRINT 174
TABLE 169 COMPANY FOOTPRINT, BY VOLTAGE 174
TABLE 170 COMPANY FOOTPRINT, BY END USER 175
TABLE 171 COMPANY FOOTPRINT, BY REGION 176
TABLE 172 OVERALL COMPANY FOOTPRINT 177
12.7 START-UP/SME EVALUATION MATRIX 179
12.7.1 PROGRESSIVE COMPANIES 179
12.7.2 RESPONSIVE COMPANIES 179
12.7.3 DYNAMIC COMPANIES 179
12.7.4 STARTING BLOCKS 179
FIGURE 50 START-UP/SME EVALUATION MATRIX, 2022 180
12.7.5 COMPETITIVE BENCHMARKING 181
TABLE 173 SWITCHGEAR MARKET: LIST OF KEY START-UPS/SMES 181
TABLE 174 SWITCHGEAR MARKET: COMPETITIVE BENCHMARKING OF START-UPS/SMES 182
12.8 COMPETITIVE SCENARIOS AND TRENDS 182
TABLE 175 SWITCHGEAR MARKET: PRODUCT LAUNCHES 182
TABLE 176 SWITCHGEAR MARKET: DEALS 185
TABLE 177 SWITCHGEAR MARKET: OTHER DEVELOPMENTS 189
13 COMPANY PROFILES 196
13.1 KEY PLAYERS 196
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
13.1.1 ABB 196
TABLE 178 ABB: COMPANY OVERVIEW 196
FIGURE 51 ABB: COMPANY SNAPSHOT, 2022 197
TABLE 179 ABB: PRODUCTS OFFERED 197
TABLE 180 ABB: DEALS 199
TABLE 181 ABB: OTHERS 201
13.1.2 GENERAL ELECTRIC 203
TABLE 182 GENERAL ELECTRIC: COMPANY OVERVIEW 203
FIGURE 52 GENERAL ELECTRIC: COMPANY SNAPSHOT, 2022 204
TABLE 183 GENERAL ELECTRIC: PRODUCTS OFFERED 204
TABLE 184 GENERAL ELECTRIC: PRODUCT LAUNCHES 205
TABLE 185 GENERAL ELECTRIC: DEALS 206
TABLE 186 GENERAL ELECTRIC: OTHERS 208
13.1.3 SIEMENS 210
TABLE 187 SIEMENS: COMPANY OVERVIEW 210
FIGURE 53 SIEMENS: COMPANY SNAPSHOT, 2022 211
TABLE 188 SIEMENS: PRODUCTS OFFERED 211
TABLE 189 SIEMENS: PRODUCT LAUNCHES 214
TABLE 190 SIEMENS: DEALS 215
TABLE 191 SIEMENS: OTHERS 216
13.1.4 SCHNEIDER ELECTRIC 218
TABLE 192 SCHNEIDER ELECTRIC: COMPANY OVERVIEW 218
FIGURE 54 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT, 2022 219
TABLE 193 SCHNEIDER ELECTRIC: PRODUCTS OFFERED 219
TABLE 194 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES 222
TABLE 195 SCHNEIDER ELECTRIC: OTHERS 223
13.1.5 EATON 225
TABLE 196 EATON: COMPANY OVERVIEW 225
FIGURE 55 EATON: COMPANY SNAPSHOT, 2022 226
TABLE 197 EATON: PRODUCTS OFFERED 226
TABLE 198 EATON: PRODUCT LAUNCHES 228
TABLE 199 EATON: DEALS 229
TABLE 200 EATON: OTHERS 230
13.1.6 MITSUBISHI ELECTRIC CORPORATION 232
TABLE 201 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW 232
FIGURE 56 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT, 2022 233
TABLE 202 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS OFFERED 233
TABLE 203 MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES 234
TABLE 204 MITSUBISHI ELECTRIC CORPORATION: DEALS 235
13.1.7 POWELL INDUSTRIES 236
TABLE 205 POWELL INDUSTRIES: COMPANY OVERVIEW 236
FIGURE 57 POWELL INDUSTRIES: COMPANY SNAPSHOT, 2022 237
TABLE 206 POWELL INDUSTRIES: PRODUCTS OFFERED 238
13.1.8 HAVELLS INDIA LTD. 239
TABLE 207 HAVELLS INDIA LTD.: COMPANY OVERVIEW 239
FIGURE 58 HAVELLS INDIA LTD.: COMPANY SNAPSHOT, 2022 240
TABLE 208 HAVELLS INDIA LTD.: PRODUCTS OFFERED 241
TABLE 209 HAVELLS INDIA LTD.: PRODUCT LAUNCHES 242
13.1.9 BHARAT HEAVY ELECTRICALS LIMITED (BHEL) 243
TABLE 210 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY OVERVIEW 243
FIGURE 59 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT, 2022 244
TABLE 211 BHARAT HEAVY ELECTRICALS LIMITED: PRODUCTS OFFERED 245
13.1.10 HD HYUNDAI ELECTRIC CO., LTD 246
TABLE 212 HD HYUNDAI ELECTRIC CO., LTD.: COMPANY OVERVIEW 246
FIGURE 60 HD HYUNDAI ELECTRIC CO., LTD.: COMPANY SNAPSHOT, 2022 246
TABLE 213 HD HYUNDAI ELECTRIC CO., LTD.: PRODUCTS OFFERED 247
13.1.11 HUBBELL 248
TABLE 214 HUBBELL: COMPANY OVERVIEW 248
FIGURE 61 HUBBELL: COMPANY SNAPSHOT, 2022 249
TABLE 215 HUBBELL: PRODUCTS OFFERED 249
13.1.12 FUJI ELECTRIC CO., LTD. 250
TABLE 216 FUJI ELECTRIC CO., LTD.: COMPANY OVERVIEW 250
FIGURE 62 FUJI ELECTRIC CO., LTD.: COMPANY SNAPSHOT, 2022 251
TABLE 217 FUJI ELECTRIC CO., LTD.: PRODUCTS OFFERED 251
TABLE 218 FUJI ELECTRIC CO., LTD.: DEALS 252
TABLE 219 FUJI ELECTRIC CO., LTD.: OTHERS 252
13.1.13 HITACHI, LTD. 253
TABLE 220 HITACHI, LTD.: COMPANY OVERVIEW 253
FIGURE 63 HITACHI, LTD.: COMPANY SNAPSHOT, 2022 254
TABLE 221 HITACHI, LTD.: PRODUCTS OFFERED 255
TABLE 222 HITACHI, LTD.: PRODUCT LAUNCHES 256
TABLE 223 HITACHI, LTD.: DEALS 257
TABLE 224 HITACHI, LTD.: OTHERS 258
13.1.14 LEGRAND 259
TABLE 225 LEGRAND: COMPANY OVERVIEW 259
FIGURE 64 LEGRAND: COMPANY SNAPSHOT, 2022 259
TABLE 226 LEGRAND: PRODUCTS OFFERED 260
13.1.15 CG POWER AND INDUSTRIAL SOLUTIONS, LTD. 261
TABLE 227 CG POWER AND INDUSTRIAL SOLUTIONS, LTD.: COMPANY OVERVIEW 261
FIGURE 65 CG POWER AND INDUSTRIAL SOLUTIONS, LTD.: COMPANY SNAPSHOT, 2022 262
TABLE 228 CG POWER AND INDUSTRIAL SOLUTIONS, LTD.: PRODUCTS OFFERED 263
13.2 OTHER PLAYERS 264
13.2.1 HYOSUNG CORPORATION 264
13.2.2 LUCY GROUP LTD. 265
13.2.3 TOSHIBA CORPORATION 266
13.2.4 SÉCHERON 266
13.2.5 ELEKTROBUDOWA 267
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
14 APPENDIX 268
14.1 INSIGHTS FROM INDUSTRY EXPERTS 268
14.2 DISCUSSION GUIDE 269
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 274
14.4 CUSTOMIZATION OPTIONS 276
14.5 RELATED REPORTS 276
14.6 AUTHOR DETAILS 277