Global Switchgear Market (2020 to 2025) – Growth, Trends, and Forecasts

Dublin, Nov. 20, 2020 (GLOBE NEWSWIRE) — The “Switchgear Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.Growing standards to control the overall carbon emissions, coupled with rising awareness among consumers to adopt renewable energy generation like solar, are anticipated to accelerate switchgear usage. As compared to Air Insulated Switchgear (AIS), they are more environment-friendly, reliable, and flexible. Also, the installation time and maintenance cost required for GIS is less than that of AIS. The major applications of GIS are power transmission, integration of renewable power generation units to the grid, and railways.The major factor driving the growth is the rising energy demand and extension/replacement of old switchgear at sub-stations that can drive the switchgear market’s gas-insulated switchgear equipment. Due to its space optimization, low maintenance, and protection against external elements, the demand for gas insulated switchgear is expected to rise.Major companies providing GIS are continuously developing and innovating by making investments. For instance, in February 2019, ABB has recently powered Africa’s most significant gas-insulated switchgear installation. This Gas-insulated electrical substation is expected to strengthen power reliability in Johannesburg.Asia-Pacific Dominates the MarketThe booming infrastructure development for renewable energy sources, growing market for grid modernization, and replacement of old installations, along with capacity enhancements, are some of the major factors stimulating the growth.The increasing electricity demand, due to rising population, economic expansion, urbanization, industrialization, and rural electrification projects, is leading the market demand for switchgear. The power generation capacity in India has grown at a rate of over 10% in the past few years, while the transmission and distribution networks have witnessed moderate growth. This has translated into a growing demand for robust power system equipment, such as switchgear, in the country, which helps protect against situations of overload, short circuit, insulation failure, etc.The robust infrastructure development, including smart cities, and various schemes launched by the government in the past, like Make in India, Digital India, Integrated Power Development Scheme, and Atal Mission for Rejuvenation and Urban Transformation, among others, have significantly contributed to the market growth.Further, in the 2019-2020 budget, India announced the “One Nation, One Grid” initiative to bring affordable power to all states. Such initiatives are anticipated to increase the investments in infrastructure for utilities in the region, thereby supporting the growth of the market studied.The market studied in the region is anticipated to benefit from the significant ongoing investments to develop smart grid architecture in China. For instance, State Grid Corporation of China, a state-owned utility company, has deployed 452MWh of grid-connected FTM pilot projects that were supported by government research grants. Further, China Southern Power Grid plans to step up investments in smart grid construction in the Pearl River Delta region, to improve clean energy installation in the upcoming years.Competitive LandscapeIn Jan 2020 – Siemens AG acquired New Delhi-based switchgear and power equipment major, C&S Electric Limited, for around INR 2,100 crore (approximately EUR 267 million). The acquisition comprises the Indian operations of C&S Electric’s low-voltage switchgear components and panels, low and medium voltage power busbars, and protection and metering devices businesses.Reasons to Purchase this report:The market estimate (ME) sheet in Excel format3 months of analyst supportKey Topics Covered:Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900


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Global Switchgear Market (2020 to 2025) – Growth, Trends, and Forecasts

Dublin, Nov. 20, 2020 (GLOBE NEWSWIRE) — The “Switchgear Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.Growing standards to control the overall carbon emissions, coupled with rising awareness among consumers to adopt renewable energy generation like solar, are anticipated to accelerate switchgear usage. As compared to Air Insulated Switchgear (AIS), they are more environment-friendly, reliable, and flexible. Also, the installation time and maintenance cost required for GIS is less than that of AIS. The major applications of GIS are power transmission, integration of renewable power generation units to the grid, and railways.The major factor driving the growth is the rising energy demand and extension/replacement of old switchgear at sub-stations that can drive the switchgear market’s gas-insulated switchgear equipment. Due to its space optimization, low maintenance, and protection against external elements, the demand for gas insulated switchgear is expected to rise.Major companies providing GIS are continuously developing and innovating by making investments. For instance, in February 2019, ABB has recently powered Africa’s most significant gas-insulated switchgear installation. This Gas-insulated electrical substation is expected to strengthen power reliability in Johannesburg.Asia-Pacific Dominates the MarketThe booming infrastructure development for renewable energy sources, growing market for grid modernization, and replacement of old installations, along with capacity enhancements, are some of the major factors stimulating the growth.The increasing electricity demand, due to rising population, economic expansion, urbanization, industrialization, and rural electrification projects, is leading the market demand for switchgear. The power generation capacity in India has grown at a rate of over 10% in the past few years, while the transmission and distribution networks have witnessed moderate growth. This has translated into a growing demand for robust power system equipment, such as switchgear, in the country, which helps protect against situations of overload, short circuit, insulation failure, etc.The robust infrastructure development, including smart cities, and various schemes launched by the government in the past, like Make in India, Digital India, Integrated Power Development Scheme, and Atal Mission for Rejuvenation and Urban Transformation, among others, have significantly contributed to the market growth.Further, in the 2019-2020 budget, India announced the “One Nation, One Grid” initiative to bring affordable power to all states. Such initiatives are anticipated to increase the investments in infrastructure for utilities in the region, thereby supporting the growth of the market studied.The market studied in the region is anticipated to benefit from the significant ongoing investments to develop smart grid architecture in China. For instance, State Grid Corporation of China, a state-owned utility company, has deployed 452MWh of grid-connected FTM pilot projects that were supported by government research grants. Further, China Southern Power Grid plans to step up investments in smart grid construction in the Pearl River Delta region, to improve clean energy installation in the upcoming years.Competitive LandscapeIn Jan 2020 – Siemens AG acquired New Delhi-based switchgear and power equipment major, C&S Electric Limited, for around INR 2,100 crore (approximately EUR 267 million). The acquisition comprises the Indian operations of C&S Electric’s low-voltage switchgear components and panels, low and medium voltage power busbars, and protection and metering devices businesses.Reasons to Purchase this report:The market estimate (ME) sheet in Excel format3 months of analyst supportKey Topics Covered:Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900


(GlobeNewsWire)

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