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

Coverage: MV Switchgear Market covers analysis By Voltage (3kV-5kV, 6kV-15kV, 17kV-27kV, And 28kV- 40kV.); Insulation (Air Insulated Switchgear, Gas Insulated Switchgear, Oil Insulated Switchgear , Others); Installation (Indoor, Outdoor.); End-user (Power Stations, Transformer Substations, Local Electricity Supply and Others.) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00027596
  • Category : Energy and Power
  • Status : Upcoming
  • No. of Pages : 150
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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 2018 to 2028 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.

MV Switchgear Market Report Analysis

MV Switchgear Market

  • CAGR (2023 - 2031)
    XX%
  • Market Size 2023
    US$ XX Million
  • Market Size 2031
    US$ XX Million

Report Coverage

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Industry landscape and competition analysis & recent developments
  • Detailed company profiles
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

  • 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.

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

By Voltage
  • 3kV-5kV
  • 6kV-15kV
  • 17kV-27kV
  • And 28kV- 40kV.
By Insulation
  • Air Insulated Switchgear
  • Gas Insulated Switchgear
  • Oil Insulated Switchgear
  • Others
By Installation
  • Indoor
  • Outdoor.
By End-user
  • Power Stations
  • Transformer Substations
  • Local Electricity Supply and Others.
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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 Market Report Scope

Report Attribute Details
Market size in 2023 US$ XX Million
Market Size by 2031 US$ XX Million
Global CAGR (2023 - 2031) XX%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Voltage
  • 3kV-5kV
  • 6kV-15kV
  • 17kV-27kV
  • And 28kV- 40kV.
By Insulation
  • Air Insulated Switchgear
  • Gas Insulated Switchgear
  • Oil Insulated Switchgear
  • Others
By Installation
  • Indoor
  • Outdoor.
By End-user
  • Power Stations
  • Transformer Substations
  • Local Electricity Supply and Others.
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • 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.
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    The List of Companies

    1.Siemens AG
    2.Schneider Electric SE
    3.General Electric
    4.Bharat Heavy Electricals Limited
    5.Eaton Corporation Plc
    6.Mitsubishi Electric Corporation
    7.Powell Industries
    8.ABB Ltd
    9.Elatec Power Distribution GmbH
    10.Chint Group Corp.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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