DUBLIN--(BUSINESS WIRE)--The "Medium Voltage Switchgear Global Market Report 2020-30: Covid 19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global medium voltage switchgear market was worth $20.58 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 10.89% and reach $31.12 billion by 2023.
The medium voltage switchgear market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America, Middle East and Africa. In 2019, Asia-Pacific was the largest region in the medium voltage switchgear market.
Medium Voltage Switchgear Market Global Report 2020 from the publisher provides the strategists, marketers and senior management with the critical information they need to assess the global medium voltage switchgear market as it emerges from the Covid 19 shut down.
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Stringent environment and safety regulations in the manufacturing of medium voltage switchgear is hindering the market's growth. The regulations governing medium voltage switchgear is IEC 62271-200 and it specifies that all electrical characteristics must comply with standard regulations. Many companies struggle to stay with fast-changing safety standards. Sometimes they can't bear funds to perform tasks required by the latest standards. According to IEC 62271-200 regulations, enquirers placing any order for metal-enclosed switchgear, should provide the main electrical characteristics of the system and also the service conditions if it is different from standard. Therefore, stringent environment and safety regulations are limiting the medium voltage switchgear market's growth.
Development of eco-efficient switchgear has become an emerging trend in the medium voltage switchgear market. Eco-efficient switchgear is an alternative to greenhouse gas sulfur hexafluoride (SF6) for improved eco-efficiency and less environmental impact. Switchgear of SF6 gas is used as the electrical insulation and current interruption medium and is extremely restricted to greenhouse gas. For instance, in 2019, ABB has launched UniSec with AirPlus technology, which is completely SF6-free medium-voltage switchgear for networks up to 24kV. Therefore, a rise in the usage of eco-efficient switchgear is gaining popularity in the medium voltage switchgear market.
The demand for electricity generation is projected to drive the medium voltage switchgear market. Development of industrialization, urbanization requires continuous electricity supply, and the reliability of the electrical supply depends heavily on the performance of the switchgear. Production of energy is sustainable growth with demand in rural and urban areas with ongoing improvements to the integration of protection of supply, which will drive industry growth.
Key Topics Covered:
1. Executive Summary
2. Medium Voltage Switchgear Market Characteristics
3. Medium Voltage Switchgear Market Size And Growth
3.1. Global Medium Voltage Switchgear Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Medium Voltage Switchgear Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Medium Voltage Switchgear Market Segmentation
4.1. Global Medium Voltage Switchgear Market, Segmentation By Insulation, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Medium Voltage Switchgear Market, Segmentation By Installation, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Medium Voltage Switchgear Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Medium Voltage Switchgear Market Regional And Country Analysis
5.1. Global Medium Voltage Switchgear Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Medium Voltage Switchgear Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Siemens AG
- Schneider Electric SE
- Eaton Corporation Plc.
- Hyundai Heay Industries
- Bharat Heavy Electricals Limited
- Hyosung Heavy Industries
- General Electric
- Chint Group
- Crompton Greaves
- Lucy Electric
- E+I Engineering
- SENTEG Schaltanlagen fr Energietechnik GmbH
- Elatec Power Distribution GmbH
- Jyoti Ltd.
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