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Global Switchgear Market By Installation(Indoor, Outdoor), By Insulation (Air Insulated, Gas Insulated ), By End-User (Industries, T & D Utilities, Commercial and residential), By Region–Forecast & Opportunities to 2026

Report Description

The global switchgear market accounted for a value of USD 62.2 billion in 2019. Switchgear market is projected to register growth at a CAGR of 5.1% during forecast period.

COVID-19 has impacted all the businesses over the globe. The power industries are facing various challenges across the world. The companies were shut down during corona virus period due to lockdown. Various projects across the world are put on hold or suspended. The supply chain of raw material has also impacted due to virus outbreak.

Definition:

Switchgear along with the monitoring solutions can be used to alert the maintenance team at the time of aging and over-used equipments are about to fail. It enables them to make smarter decision through real-time data and it provides information about problems and improvements requirements.

Market Dynamics (Drivers/Opportunities):

The demand for energy is increasing rapidly around the world. The growing energy demands leads to rise in demand of reliable and stable T&D network. The demand for uninterrupted power supply can be meet by a system which is capable of handling sudden drops and power spikes.  The number of blackouts is increasing due to aging of infrastructure. To reduce blackouts and upgrade power infrastructure, creates opportunities for power sector market. This leads to rise in switchgear market during forecast period.

The lack of investments, lack of policies to modernize grid and lack of upgrade policy for aging infrastructure leads to requirement of better and efficient power equipment.  New regulations have been adopted by government in order to reduce blackout and to ensure better power supply. This leads to rise in adoption of switchgears during forecast period.

Market Insights, by Installation

On the basis of installation, the switchgear market is segmented into indoor and outdoor installation. The outdoor installation segment is estimated to register fastest growth rate during forecast period. In outdoor installation mainly high-voltage switchgear is used. High-voltage switchgear provides enhanced electricity transfer over larger distance. Outdoor switchgears have its applications in transmission sector. The rise in adoption and requirement of outdoor switchgears drives growth in outdoor installation segment of switchgear during forecast period.         

Market Insights, by Insulation

On the basis of insulation, the switchgear market is segmented into air insulated, gas insulated and others. The Air insulated switchgear segment is estimated to hold largest market share during forecast period. The air insulated switchgear is the most common type of medium voltage switchgear which is widely popular these days. This switchgear is used to control, protect and isolate electrical equipments which use air as its insulating medium. These switchgears are used in distribution, transmission, oil & gas, manufacturing, transportation and other industries. This drives growth in air insulated switchgear segment during forecast period.

Market Insights, by End-User

On the basis of end-user, the switchgear market is segmented into industries, T&D utilities, commercial & residential and others. The T&D utilities segment is estimated to hold largest market share during forecast period. The T&D utilities segment is used for power generation, distribution of electricity and transmission. This segment consists of publicly owned, investor owned and nationalized cooperatives. These cooperatives are major providers of electricity across the world. T&D utilities industries are largest user of switchgear. This drives growth in T&D utilities in switchgear market during forecast period.

Regional Insights

Asia-Pacific is estimated to hold largest market share during forecast period. The industrialization and urbanization is rising in various countries of this region such as India and China. The installation of new substation is rising in this region and the existing infrastructure is also upgrading in various countries of this region. The upgrade of electrical infrastructure involves use of improved and efficient power equipments including switchgears. This is likely to drive growth in Asia-Pacific region in switchgear market during forecast period.

Key Companies & Market Share Insights

The key market players in switchgear market are ABB, Hitachi, CG Power & Industrial Solutions, Hyundai, Schneider, Eaton, Siemens, GE, Mitsubishi Electric, Powell, Larsen & Turbo, Lucy Electric, Fuji Electric, Hubbell and Elektrobudowa.

Segments Covered in the Report

This report forecasts The Global Switchgear Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global switchgear market report on the basis of installation, insulation, and end-user.

Switchgear Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  3. Executive Summary
    • Market Snapshot
  4. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Switchgear Market, By Installation, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Indoor
  • Outdoor
  1. Switchgear Market, By Insulation, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Air Insulated
  • Gas Insulated
  • Others
  1. Switchgear Market By End User, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Industries
  • T&D Utilities
  • Commercial & Residential
  • Others
  1. Switchgear Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Installation
    • By Insulation
    • By End-User
    • By Country
      • USA
        • By End-User
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Installation
      • By Insulation
      • By End-User
      • By Country
        • Brazil
          • By End-User
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Installation
        • By Insulation
        • By End-User
        • By Country
          • UK
            • By End-User
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Installation
          • By Insulation
          • By End-User
          • By Country
            • China
              • By End-User
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Installation
            • By Insulation
            • By End-User
            • By Country
              • Saudi Arabia
                • By End-User
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Elektrobudowa
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • ABB
    • Hitachi
    • CG Power & Industrial Solutions
    • Hyundai
    • Schneider
    • Eaton
    • Siemens
    • GE
    • Mitsubishi Electric
    • Powell
    • Larsen & Turbo
    • Lucy Electric
    • Fuji Electric
    • Hubbell
  2. Appendix
    • Interrelated Market

 

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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