Medium Voltage Switchgears Market Technological Advancement, Competitive Strategies and Forecast to 2026
By: Abhijeet Pawar
Tags: Voltage Switchgears, Medium Voltage Switchgear, Switchgears Market, Market, Medium Voltage

The global medium voltage switchgears market size is anticipated to enlarge during the forecast period, 2019–2026. Digitalization and extensive consumption of electrical appliances within the commercial sector enables electricity to play a pivotal role in economic growth. Adoption of safety practices within the voltage distribution sector is shaping the market growth.

Medium Voltage Switchgears Market

Energy savings is one of the major trends at present and the population dependence on energy is increasing at a rapid pace. End-user expectation for reliability and quality has increased and there is a greater awareness for energy’s environmental impact. Dependence on electricity is growing globally and therefore the production and distribution systems for energy has become a cause of concern even in the developed countries. As the evolution in the electricity distribution sector continues, smart solutions are needed to maintain the balance. Switchgears offer a range of flexible options for installation within a centralized scheme or automation logic embedded within a cluster of controllers. A switchgear supplies constant electricity to the circuit on detection of fault and restores the supply within the circuit without any need for external communication.

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The medium voltage switchgears market is driven by rise in demand for electricity followed by rise in need for effective distribution of control systems. In addition, the rise in concerns for electricity faults, fire and operational hazards in commercial and industrial zone is likely to result in a high demand for voltage switchgears. In addition, ongoing commercialization to uplift the economic development is anticipated to surge the demand for voltage distribution infrastructure. Manufacturer emphasis on enabling faultless circuits within power stations have been instrumental in triggering the market development on a holistic level. However, lack of awareness for advantages for using switchgear devices are likely to hinder the market progress in the long term.

Based on voltage, the medium voltage switchgear market comprises 3kV to 9kV, >9kV to 15kV, >15kV to 21kV, >21kV to 27kV, >27kV to 33kV and >33kV. 9kV to 15kV maintains the largest growth owing to ongoing infrastructural developments in the small-scale industries across the globe. >15kV to 21kV is anticipated to have a high growth attributing to ongoing developments in the commercial zone and

Based on insulation, the market segmentation comprises air, oil, gas, vacuum, and others. Oil and gas accounted for a higher share in 2018 registering a high CAGR and is expected to maintain a competitive edge throughout the forecast zone.

By encapsulation, the medium voltage switchgears market comprises metal and non-metal. Metal is further bifurcated into indoor and outdoor. Metal accounts as the largest segment in the global scenario owing to extensive use. Additionally, the segment is also anticipated to gain a huge exposure in terms of consumer demand and innovative practices adopted by manufacturers.

Based on component, the medium voltage switchgears market comprise contractors, switches & disconnector, circuit breakers, fuse and others. Switches and circuit breakers are likely to hold a significant share due to versatility and applicability due to the parameters set for circuit protection devices within industrial units.

Application segment is categorized into residential, commercial, retail, education, hospitality, offices and others. Retail accounts for the largest share in the global scenario owing to widening scope in the retail segment. Commercial segment is anticipated to have a steady rise during the forecast period attributing to the steady adoption of

Industrial segment is categorized into railways arc furnace, manufacturing & processing industries, power, oil & gas and others. Manufacturing & processing industries held a largest share during the forecast span attributing to a significant rise in demand. Railways arc furnace is likely to exhibit a high growth as expansion strategies adopted by the vendors.

Based on geographical segmentation, the medium voltage switchgears market comprises North America, South America, Europe, Asia Pacific, Middle East and Africa. Rising demand for electrical setup combined with rise in investments across the energy sector in the U.S. helps the region to maintain a high growth throughout the forecast period. In addition, economical features and operational flexibility is likely to trigger the developments across the global market.

Some of the key players in the medium voltage switchgears market are Crompton Greaves, Hyosung, Hyundai Heavy Industries, ABB, Toshiba, Siemens, Schneider, Lucy Electric, Orzamabal, Eaton, BHE, Chint Group, Mitsubishi and ABB. Product launches, mergers and acquisitions, strategic collaborations and mutual agreements are growth strategies adopted by major players in order to strengthen their geographical presence and market position.

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