Press release
Medium Voltage Switchgear Market is anticipated to exceed USD 50 billion by 2025 Prominent market participants include ABB, Siemens, GE, Mitsubishi, Schneider, Crompton Greaves, Chint Group, Eaton, Hyosung, Hyundai Heavy Industries, Powell and Toshiba
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.
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Report Content
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Medium Voltage Switchgear Industry Insights
Chapter 4 Medium Voltage Switchgear Market, By Voltage
Chapter 5 Medium Voltage Switchgear Market, By Component
Chapter 6 Medium Voltage Switchgear Market, By Installation
Chapter 7 Medium Voltage Switchgear Market, By Insulation
Chapter 8 Medium Voltage Switchgear Market, By Enclosure
Chapter 9 Medium Voltage Switchgear Market, By End Use
Chapter 10 Medium Voltage Switchgear Market, By Application
Chapter 11 Medium Voltage Switchgear Market, By Region
Chapter 12 Company Profiles
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.
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.
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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.
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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.
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