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Global Switchgears Industry Report: Country Overview; Value Chain Analysis; Production Process; Trade Analysis; Cost Structure; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Contract Structure, Negotiation Levers, Pricing Model; Key Supplier Analysis, 2022-2027

Switchgears Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The global Switchgears market reached a value of about USD 99.17 billion in 2021. The industry is projected to grow at a CAGR of around 6% in the forecast period of 2022-2027 to reach a value of about USD 140.98 billion by 2027.

The global Switchgears industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is being driven by replacing old power infrastructure and increased expenditures on renewable energy. The market is expected to grow further as new industrial structures, such as powerplants, are developed for safe and dependable operations. In the industry report, the key demand indicator is the highest category spender by region—Asia Pacific.

Industry Definition and Segmentation

Switchgear is a device made up of electrical disconnect switches, fuses, and circuit breakers that control, manage, protect, and isolate electrical equipment in an electric power system. Switchgear is used to de-energise equipment so that work may be done on it and to clear faults downstream. The dependability of the electrical supply is closely related to this sort of equipment. Switchgear devices include switches, fuses, circuit breakers, isolators, relays, current, and potential transformers, indicating instruments, lightning arresters, and control panels. Effective Switchgear will activate in the case of an electrical surge, halting the flow of power and safeguarding the electrical systems from harm. Switchgear also uses Switchgear to de-energise equipment for safe testing, maintenance, and fault clearing. The Switchgears industry report comprises segments by product type (Low Voltage, Medium Voltage, High Voltage) and region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).

Asia Pacific Region is Driving the Growth of the Industry

The Asia Pacific is the largest market, owing to rising urbanisation, particularly in China and India. Moreover, the construction of a new substation and the improvement of existing electrical infrastructure are propelling the market. On account of increased investments and quick commercialisation across industrial projects and utility-based electrification networks, the China market is expected to grow. The region's product demand will be further complemented by a paradigm shift toward converting overhead electric lines to underground networks. The improving economic situation in some growing nations will result in the rapid growth of the grid network, bolstering the market.

The market is being driven by the rising frequency of blackouts, old infrastructure, a shortage of investment, and a lack of a defined programme for grid modernisation. With the aid of monitoring technologies, Switchgear informs the maintenance staff when aged and over-used equipment is about to fail, preventing outages. The switchgear aid inefficient energy transmission across long distances and to bigger loads, resulting in dependable switching operations. These days, air-insulated Switchgear is one of the most used types of medium-voltage Switchgear. They are made up of a mix of electrical disconnector switches, circuit breakers, and earth switches used to regulate, isolate, and safeguard electrical equipment that is insulated by air. In addition, a reliability component has been incorporated into performance-based revenue policies by several government agencies. These plans would encourage the use of Switchgear to offer end-users consistent and trouble-free service. Another factor driving switchgear market expansion is the increase in building activities throughout the world due to the increased focus on infrastructure.

However, the strict environmental and safety standards of the switchgear market are a stumbling block.

Best Procurement Practices

The global Switchgears industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Switchgear regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

The supply approach is completely linked to the switchgear system. It is installed on the power transformer's high and low voltage sides. It's used to turn off the power to the equipment so that it may be tested and maintained and clear the issue. When a problem in the power system occurs, a large number of current flows through the equipment, causing equipment to malfunction and the service disrupts. As a result, automated protective devices or Switchgear are necessary to protect the lines, generators, transformers, and other electrical equipment from harm. The relay and circuit breaker are the essential components of automated protective Switchgear. When a failure develops in any part of the system, the relay for that part of the system activates and closes the breaker's trip circuit, disconnecting the defective portion. The vital part continues to provide loads, resulting in no equipment damage and no complete supply disruption.

Growing Technological Advancements, Further Driving the Procurement of Switchgears

The industry is being propelled by the demand for a robust and dependable T&D network. The T&D utility section oversees electricity generation, transmission, and distribution. To meet the power demand, T&D utilities use non-renewable and renewable energy sources. Switchgear physical security covers many applications that necessitate a dependable, high-performance communications network to provide centralised monitoring and reporting. Bulk power plants that use onshore and offshore wind, solar, and hydropower are expected to boost the demand for new transmission and distribution lines, affecting the switchgear industry. The switchgear market is predicted to be dominated by Gas Insulated Switchgear (GIS). Gas-insulated Switchgear (GIS) is metal-encased Switchgear that includes high-voltage components, including circuit breakers and disconnectors. A GIS is most commonly utilised in limited locations, such as city buildings, office spaces, and offshore, among other places. Growing norms to reduce total carbon emissions and consumer knowledge of the benefits of renewable energy generating, such as solar, are expected to drive switchgear adoption. They are more environmentally friendly, dependable, and adaptable than Air Insulated Switchgear (AIS). In addition, GIS takes less time to set up and costs less than AIS. Increasing space restrictions and continued R&D efforts aimed at improving smart and compact control equipment will add to the industry's current situation. Continuous investments in commercial and residential enterprises, such as public and private residences, offices, and restaurants, will help to keep the demand for the product high.

The regional markets for the industry can be divided into Europe, North America, the Asia Pacific, South America, and the Middle East and Africa.

Key Industry Players Mentioned in the Switchgears Industry Report

  • ABB Ltd.
  • Mitsubishi Electric Corporation
  • Siemens AG
  • Eaton Corporation plc
  • Toshiba Energy Systems & Solutions Corporation
  • Hitachi, Ltd.

Market Landscape

The industry outlook will be boosted by increased mergers and acquisitions, increased investments in innovative technology, and the implementation of smart infrastructure across the sector. Furthermore, the industry's distribution network, emission compliance, product differentiation, and cost competitiveness are also critical growth drivers. Due to the existence of various established and regional switchgear manufacturers, the worldwide switchgear industry looks to be fragmented and competitive.

Key Initiatives by Companies

  • El Sewedy Electric T&D awarded ABB a contract in March 2020 to deliver high-voltage gas-insulated Switchgear and shunt reactors to ensure a stable power supply.
  • Schneider Electric extended its production facilities in Leeds and Scarborough, UK, in February 2020 to accommodate the increased demand for renewable technologies. Low-, medium-and high-voltage Switchgear is manufactured at the Leeds and Scarborough locations.

1.    Executive Summary
2.    Global Switchgears Market Snapshot

    2.1.    Switchgears Market Outlook
    2.2.    Switchgears Industry Analysis by Product Type
        2.2.1.    Low Voltage
        2.2.2.    Medium Voltage
        2.2.3.    High Voltage
    2.3.    Regional Overview
        2.3.1.    Asia
        2.3.2.    EMEA
        2.3.3.    North America
        2.3.4.    Latin America
        2.3.5.    MEA
3.    Impact of Recent Events 
4.    Switchgears Value Chain Analysis 
5.    Switchgears Production Process
6.    Trade Analysis 
7.    Major Risk Factors in Sourcing
8.    Switchgears Cost Structure
9.    Switchgears Price Analysis 
10.    Key Demand Indicator Analysis
11.    Key Price Indicator Analysis
12.    Switchgears Market Dynamics

    12.1.    Drivers & Constraints
    12.2.    Industry Events 
    12.3.    Innovations & Trends
    12.4.    SWOT Analysis
    12.5.    Porter’s Five Forces
        12.5.1.    Buyer Power
        12.5.2.    Supplier Power
        12.5.3.    Threat of New entrants
        12.5.4.    Threat of Substitutes
        12.5.5.    Industry Rivalry
13.    Feedstock Market Analysis 
    13.1.    Market Overview
    13.2.    Price Analysis 
14.    Industry Best Practices
    14.1.    Sourcing Strategy
    14.2.    Procurement Model
    14.3.    Contract Structure
    14.4.    Negotiation Levers
    14.5.    Pricing Model
    14.6.    Key Factors Influencing the Quotation 
15.    Key Supplier Analysis
    15.1.    ABB Ltd.
    15.2.    Mitsubishi Electric Corporation
    15.3.    Siemens AG
    15.4.    Eaton Corporation plc
    15.5.    Toshiba Energy Systems & Solutions Corporation
    15.6.    Hitachi, Ltd.

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Key Questions Answered in the Report

The global Switchgears market size was valued at USD 99.17 billion in 2021.

As per the application provided, the T&D Utility segment is anticipated to lead the market between the period 2022 – 2027.

The significant demand for a defined programme for grid modernisation is one of the essential drivers of the Switchgears market growth.

ABB Ltd., Mitsubishi Electric Corporation, Siemens AG, Eaton Corporation plc, Toshiba Energy Systems & Solutions Corporation, and Hitachi, Ltd. are few of the top companies in the market.

The Asia Pacific region of the Switchgears industry holds a significant share in the market.

Analyst Review

The global Switchgears market attained a value of USD 99.17 billion in 2021, driven by the demand for the rising frequency of blackouts, including old infrastructure, a lack of investment, and a lack of a defined programme for grid modernisation. In addition, aided by the growing technological advancements, such as T&D utilities, and Gas Insulated Switchgear (GIS), the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 6%. The market is projected to reach USD 140.98 billion by 2027. Some of the leading players in the industry are ABB Ltd., Mitsubishi Electric Corporation, Siemens AG, Eaton Corporation plc, Toshiba Energy Systems & Solutions Corporation, and Hitachi, Ltd.

Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate, and actionable and help them remain ahead of their competition.

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