Electrical Switchgear Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Electrical switchgear is an electrical device composed of a circuit breaker, fuses, and disconnect switches, that is used to monitor, protect, control, and isolate electrical equipment. Electrical switchgear breaks and allows the smooth flow of current load by clearing the electrical fault. An increasing inclination toward renewable power generation along with the rising integration of cogeneration plants across the power grid infrastructure is the significant factor booming the growth of the electrical switchgear market.

MARKET DYNAMICS

The rising integration of smart monitoring and control units, growing demand for efficient transmission and distribution control systems coupled with the increasing investments toward infrastructural development drive the electrical switchgear market during the forecast period. Further, growing demand for safe & reliable systems, retrofitting and refurbishment of existing power infrastructure, and ongoing expansion of smart grid networks are expected to influence the growth of the electrical switchgear market in the coming years.

MARKET SCOPE

The "Global Electrical Switchgear Market Analysis to 2031" is a specialized and in-depth study of the electrical switchgear industry with a special focus on the global market trend analysis. The report aims to provide an overview electrical switchgear market with detailed market segmentation as voltage, insulation, end-user, and geography. The global electrical switchgear market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading electrical switchgear market players and offers key trends and opportunities in the electrical switchgear market.

MARKET SEGMENTATION

The global electrical switchgear market is segmented on the basis of voltage, insulation, end-user. On the basis of voltage the market is segmented as high voltage, medium voltage, low voltage. On the basis of insulation the market is segmented as gas insulated, air insulated. On the basis of end-user the market is segmented as residential and commercial, industrial, utility.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global electrical switchgear market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The electrical switchgear market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting electrical switchgear market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the electrical switchgear market in these regions.

MARKET PLAYERS

The reports cover key developments in the electrical switchgear market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Electrical switchgear market are anticipated to lucrative growth opportunities in the future with the rising demand for electrical switchgear in the global market. Below mentioned is the list of few companies engaged in the electrical switchgear market.

The report also includes the profiles of key electrical switchgear companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   ABB
  
•   Eaton Corporation Plc
  
•   Fuji Electric Co., Ltd.
  
•   General Electric Company
  
•   Hitachi Ltd,
  
•   Hubbell Incorporated
  
•   Hyundai Electric and Energy Systems Co., Ltd.
  
•   Mitsubishi Electric Corporation
  
•   Schneider Electric
  
•   Siemens AG
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Electrical Switchgear Report Scope