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

MARKET INTRODUCTION

Medium Voltage Switchgears are just some of our unique primary devices that are specifically designed to stabilize any unsteady or irregular flow of power. It provides shielding to the interconnected devices by controlling, metering and regulating the flow of electricity in the distribution management system. The circuit protection devices typically are protected in metal structures. A combination of one or more of these structures together is commonly coined as a switchgear line-up or assembly. The range of Schneider Electric medium voltage electrical switchgear is engineered to operate between 3 kV to 36 kV of power and are optimum for motor protection. It contributes to the overall stability of functions like, operations, design, maintenance, machine control etc. With our unique offerings, you need not bear the losses and damage of irregular supply.

MARKET DYNAMICS

The switchgear industry has witnessed robust growth on account of increasing electricity demand along with rising need for effective transmission and distribution control systems. Growing concerns associated with electricity supply faults, health, fire and other operational hazards along with lack of effective electrical infrastructure across developing economies will drive the global market. In addition, cost effectiveness, ease of installation, safe & reliable operations are certain prominent parameters positively influencing the business outlook. Ongoing commercialization with an aim to upscale the overall economic growth favored by FDI schemes to support commercial & industrial establishments will augment the demand for primary and secondary distribution infrastructure. Henceforth, rapid digitalization across the industrial peripheral in conjunction with increasing energy demand from communication base stations & data centers will complement the medium voltage switchgear market.

MARKET SCOPE

The ˜Global MV Switchgear Market' is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the MV switchgear market with detailed market segmentation by voltage, insulation, installation, and end-users. The global MV switchgear market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading MV switchgear market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

1. By Voltage: The global MV switchgear market is categorized into 3kV-5kV, 6kV-15kV, 17kV-27kV, and 28kV- 40kV.
2. By Insulation: The global MV switchgear market is categorized into Air Insulated Switchgear, Gas Insulated Switchgear, Oil Insulated Switchgear and Others.
3. By Installation: The global MV switchgear market is categorized into indoor and outdoor.
4. By End-user: The global MV switchgear market is categorized into Power Stations, Transformer Substations, Local Electricity Supply and Others.

REGIONAL FRAMEWORK

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

The report analyzes factors affecting the MV switchgear market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the MV switchgear market in these regions.
IMPACT OF COVID 19
COVID-19 will affect the MV switchgear market, especially on the projects side. On the domestic front, 60 percent of switchgear business is coming from projects whereas in the Industrial segment with LV and MV more than 80 percent business are projects based only. Because of COVID 19 pandemic most of the residential, commercial, and industrial projects are currently on hold and this will continue till the markets are not stabilized and revamped. MV switchgear industry is being impacted drastically as both manufacturing and supply chain operations are being disrupted.

MARKET PLAYERS

The report covers vital developments in the MV 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 partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the MV switchgear market are anticipated to have lucrative growth opportunities in the future with the rising demand for MV switchgear in the global market. Below mentioned is the list of a few companies engaged in the MV switchgear market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the MV switchgear market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.

•   Siemens AG
  
•   Schneider Electric SE
  
•   General Electric
  
•   Bharat Heavy Electricals Limited
  
•   Eaton Corporation Plc
  
•   Mitsubishi Electric Corporation
  
•   Powell Industries
  
•   ABB Ltd
  
•   Elatec Power Distribution GmbH
  
•   Chint Group Corp.
  
  
  

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

MV Switchgear Report Scope