Medium Voltage Switchgear Market Size - By Component, By Insulation, By End Use, Voltage, Application, 2023

Description

Medium Voltage Switchgear Market is set to exhibit over 7.1% CAGR from 2023 to 2032 propelled by the ongoing modernization efforts aimed at enhancing the reliability, safety, and efficiency of electrical distribution networks.

With aging electrical infrastructure becoming increasingly outdated and inefficient, there is pressing need for upgrading and replacing existing medium-voltage switchgear systems. To that end, technological advancements and innovations have transformed medium voltage switchgear systems, making them more adaptable to the evolving needs of industries and utilities.

In May 2022, Schneider Electric, the global leader in energy management and automation digital transformation unveiled its new SureSeT MV switchgear for the North American market. This new and upgraded system replaced the Schneider Electric Masterclad solution for primary switchgear applications with smaller and smarter solution for controlling digital day-to-day operations. Such advancements are likely to augment the industry outlook.

The medium voltage switchgear market is classified into component, insulation, end-use, voltage, application, and region.

With respect to component, the market size from the circuit breakers segment is projected to witness over 7% CAGR through 2032. The ongoing expansion of industries, utilities, and infrastructure projects has resulted in the escalating demand for robust and efficient medium-voltage switchgear equipped with advanced circuit breakers. Additionally, technological advancements have led to the development of intelligent and digitally integrated circuit breakers to match the growing trend of digitalization and automation in the electrical sector.

Medium voltage switchgear market from the industrial application segment is poised to expand at more than 6.5% CAGR from 2023-2032. The ongoing expansion and modernization of industries and their operations have prompted the need for medium-voltage switchgear systems to accommodate increased power demands and ensure grid stability. Moreover, the increasing focus on energy efficiency and sustainability is contributing to the rising acceptance of MV switchgear systems integrated with renewable energy sources, such as solar and wind, into industrial operations.

Regionally, Europe medium voltage switchgear market is set to witness over 7% growth rate through 2032 owing to the increasing emphasis on modernizing the existing electrical infrastructure coupled with stringent safety regulations and environmental standards.

The burgeoning industrial sector, particularly in Germany, France, and the U.K. have surged the need for MV switchgear for safe and efficient electrical power distribution in manufacturing facilities. The rising efforts by industry players on taking effective measures and efforts to cater to the evolving consumer requirements is likely to boost the regional market growth. To cite an instance, in March 2023, Siemens announced a 30-million-euro investment to expand its switchgear factory in Frankfurt-Fechenheim to produce environmentally efficient medium-voltage switchgear.

Product Code: 2543

Chapter 1 Methodology & Scope

1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid
  - 1.4.2.2 Public

Chapter 2 Executive Summary

2.1 Medium voltage switchgear industry 360° synopsis, 2019 - 2032
- 2.1.1 Business trends
- 2.1.2 Voltage trends
- 2.1.3 Component trends
- 2.1.4 Insulation trends
- 2.1.5 End use trends
- 2.1.6 Application trends
- 2.1.7 Regional trends

Chapter 3 Medium Voltage Switchgear Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Vendor matrix
3.2 Regulatory landscape
3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls & challenges
3.4 COVID- 19 impact on the industry outlook
3.5 Growth potential analysis
3.6 Porter's Analysis
- 3.6.1 Bargaining power of suppliers
- 3.6.2 Bargaining power of buyers
- 3.6.3 Threat of new entrants
- 3.6.4 Threat of substitutes
3.7 PESTEL Analysis

Chapter 4 Competitive Benchmarking

4.1 Innovation & sustainability landscape
4.2 Competitive landscape, 2022
- 4.2.1 Strategic dashboard

Chapter 5 Medium Voltage Switchgear Market, By Voltage ('000 Units, USD Million)

5.1 Key voltage trends
5.2 ≥ 3 kV to < 9 kV
5.3 ≥ 9 kV to < 15 kV
5.4 ≥ 15 kV to < 21 kV
5.5 ≥ 21 kV to < 27 kV
5.6 ≥ 27 kV to < 33 kV
5.7 ≥ 33 kV

Chapter 6 Medium Voltage Switchgear Market, By Component ('000 Units, USD Million)

6.1 Key component trends
6.2 Circuit Breakers
6.3 Contactors
6.4 Switches & Disconnector
6.5 Fuses
6.6 Others

Chapter 7 Medium Voltage Switchgear Market, By Insulation ('000 Units, USD Million)

7.1 Key insulation trends
7.2 Air
7.3 Gas
7.4 Oil
7.5 Vacuum
7.6 Others

Chapter 8 Medium Voltage Switchgear Market, By End Use ('000 Units, USD Million)

8.1 Key end use trends
8.2 Power stations
8.3 Transformer substations
8.4 Local electricity supply
8.5 Others

Chapter 9 Medium Voltage Switchgear Market, By Application ('000 Units, USD Million)

9.1 Key application trends
9.2 Residential
9.3 Commercial
9.4 Industrial
9.5 Utility

Chapter 10 Medium Voltage Switchgear Market, By Region ('000 Units, USD Million)

10.1 Key regional trends
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
- 10.2.3 Mexico
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Russia
- 10.3.5 Italy
- 10.3.6 Spain
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 Australia
- 10.4.3 India
- 10.4.4 Japan
- 10.4.5 South Korea
10.5 Middle East & Africa
- 10.5.1 Saudi Arabia
- 10.5.2 UAE
- 10.5.3 Qatar
- 10.5.4 Oman
- 10.5.5 South Africa
- 10.5.6 Egypt
10.6 Latin America
- 10.6.1 Brazil
- 10.6.2 Peru
- 10.6.3 Argentina

Chapter 11 Company Profiles

11.1 ABB
11.2 Siemens
11.3 General Electric
11.4 Mitsubishi Electric Corporation
11.5 Schneider Electric
11.6 Ormazabal
11.7 Bharat Heavy Electricals Limited
11.8 CG Power & Industrial Solutions Ltd.
11.9 CHINT Group
11.10 Eaton
11.11 HYOSUNG HEAVY INDUSTRIES
11.12 Lucy Group Ltd.
11.13 HD Hyundai Electric Co., Ltd.
11.14 Powell Industries
11.15 Toshiba Infrastructure Systems & Solutions Corporation

Medium Voltage Switchgear Market Size - By Component, By Insulation, By End Use, Voltage, Application, 2023 - 2032