Medium Voltage Switchgear Market

The Medium Voltage Switchgear Market in terms of revenue was worth of USD 33.72 Billion in 2021 and is expected to reach USD 40.9 Billion in 2028, growing at a CAGR of 3.1% from 2021 to 2028.  

Global Medium Voltage Switchgear Market: Global Size, Trends, Competitive, Historical & Forecast Analysis to 2021-2027, Increasing demand for electricity generation, growing incidences related to hazardous fire, shortage of safe electrical infrastructure, and an increasing number of product offerings all around the world are anticipated to drive the growth of Global Medium Voltage Switchgear Market.

Scope of Global Medium Voltage Switchgear Market

Switchgear is a fundamental part of an electric power system i.e., electrical switchgear is attached to electric supply systems. It is used in both low and high-voltage power transformers. The primary purpose of switchgear is to de-energize the system for maintenance and repair to accurate the defective issues. All medium voltage switchgear has some of the distinctive primary devices that are particularly constructed to stabilize any unsteady or uneven flow of power. These devices offer protection to the interconnected devices by controlling, metering, and regulating the flow of electricity in the distribution management system. The circuit protection devices usually are protected in metal structures. A sequence of one or more of these structures together is generally coined as a switchgear line-up or assembly. This MV switchgear can run between 3kv to 36 kV.

There are several types of MV switchgear like metal-enclosed outdoor type, metal-enclosed indoor type, etc. This type of switchgear uses oil, Sulfur hexafluoride, and vacuum for blocking current in case of errors. This switchgear is a cable of standard ON/OFF switching function, short circuit current interruption, switching of capacitive currents, switching of inductive currents, some unique applications. Switchgear panels are rated according to several specifications such as nominal voltage, rated voltage, power frequency withstand voltage and impulse voltage. MV switchgear types are categorized corresponding to the function and process of insulation.

Covid-19 has destructively impacted the medium voltage switchgear market across the world. Due to the Covid-19 crises, most of the commercial, residential, and industrial projects are presently on hold and this will persist till the markets are not stabilized. One of the major concerns of many manufacturing companies of medium voltage switchgear across the world is raw material and transportation. A number of small and major key players are facing the lack of raw material, adequate labor force, and manpower due to this pandemic.

The closing of various borders owing to government regulations and the recent outflux of labor has put immense stress on the production sector specifically the medium voltage switchgear. If the transportation is not operating properly there will be a disturbance in the supply chain network and which leads to impact the market. Since this is adversely impacting on production and demand for medium voltage switchgear and further affected the market growth pessimistically.

Medium Voltage Switchgear Manufacturers

Some major key players of global medium voltage switchgear market report cover prominent players like 

• Siemens AG 
• Schneider Electric SE 
• General Electric 
• ABB Ltd 
• Elatec Power Distribution GmbH 
• Chint Group Corp 
• Powell Industries 
• Eaton Corporation Plc 
• Mitsubishi Electric Corporation 
• ZPUE plc 

Medium Voltage (MV) Switchgear Market Segmentation

By Insulation 

• Air Insulated  
• Gas Insulated 
• Others 

By End Use Industry 

• Infrastructure & Buildings 
• Industrial & Machine Builders 
• Data Center/IT 
• Energy 
• Others 

The medium voltage switchgear is an important asset in electrical system that is responsible for the transporting, making, and breaking normal current loads. This medium voltage (MV) switchgear has evolved from open systems in the old days into state-of-the-art modern enclosed systems via several stages of development. It is developed as an electrical power distribution equipment commonly known as medium voltage (MV) switchgear in utility systems and large industrial facilities. As a consequence of this new reality, MV switchgears have undergone developmental changes from traditional type to new digital era. 

The medium voltage (MV) switchgears have undergone developmental changes owing to consequence of new reality of grid systems. Also, traditional protection, control, and measurement systems have also been evolving towards better service. In accordance with the growing energy business as it is changing as it faces day-to-day challenges such as increased demand & a greater drive toward decarbonization, which has increased the demand for medium voltage (MV) switchgears for better effective transmission and distribution of electricity. Moreover, the growing adoption of advanced technology such as microgrid and smart grid for distribution of electricity is also providing more growth to the market. Subsequently, the growing demand for renewable energy such as solar & wind power fueling the demand for medium voltage switchgear is also boosting the growth of the medium voltage (MV) switchgear market.  

Along with the new developments in the switchgear industry, there are new innovations such as vacuum switchgear, hybrid switchgear, intelligent switchgear, and others. Vacuum switchgear is widely used in the medium voltage range & it has become emerging as an alternative in HV applications. This trend is being driven by the fact that the vacuum switchgear is more environment friendly than other MV switchgear. 

In competitive perspective, medium voltage (MV) switchgear market has a presence of number of players. And the new innovative techniques in medium voltage (MV) switchgear are gaining new highlights from the electrical power distribution industry. For example, on December 10th, 2021; Schneider Electric's SF6-Free MV Switchgear has been named the Green Product of the Year by Southern Weekly. Thus, new MV switchgear is powered by an innovative combination of vacuum interruption and pure air insulation. It was a breakthrough alternative to traditional SF6 technology and a key milestone in moving toward a cleaner, more efficient, and decarbonized power system. 

Increasing Demand for Electricity Generation, Growing Incidences Related to Hazardous Fire, Shortage of Safe Electrical Infrastructure, and Increasing Number of Product Offerings are Driving the Market Growth

Increasing demand for electricity generation is one of the major factors driving the growth of the medium voltage switchgears market across the world. Electricity is considered at the heart of modern economies, and it is delivering a growing share of energy services. As a result of expanding household incomes, with the electrification of transport and heat, and increasing demand for digital associated devices and air conditioning, the demand  for electricity is extremely increasing. For instance; according to the India Ratings and Research, the demand for electricity in India reached its highest since July 2019 to register124.8 billion units in July 2021.

Also, according to International Energy Agency 2021, approximately 4,009 billion kilowatt-hours (kWh) (nearly 4.01 trillion kWh) of electricity were produced at utility-scale electricity generation services in the U.S. Similarly, to keep up with the mounting demand, worldwide electricity generation reached a high of 26,730 terawatt-hours in 2018. The electricity demand is knowingly improving due to industrial activity and advances in both developing and developed countries. Owing to industrialization and urbanization, the continuous supply of electricity has become an essential thing while the reliability of the electrical supply generally depends on the functioning of the switchgear. As a result, rising electricity generation is one of the key reasons why the demand for medium voltage switchgear has reached the highest point.

In addition, growing incidences related to hazardous fire and shortage of safe electrical infrastructure are also supplementing the growth of the medium voltage switchgear market. Recently, incidences of electrical fires are highly increasing owing to the usage of ungrounded plugs, overloading light fixtures, old wiring, and many other reasons. For instance; as per the National Fire Protection Association 2019, home fires including electrical failure or malfunction caused a projected average of 440 civilian deaths and 1,250 civilian injuries every year. In addition, according to the U.S. Fire Administration, electrical fires stated for 6.3% of all residential fires, with roughly 24,000 fires being registered per year. Owing to the several threatening and unsafe accidents at home as well as industrial level, many people are desiring to adopt switchgear.

As medium voltage switchgear plays a vital role in controlling, protecting, and isolating electrical equipment which avoids the cases of hazardous fires and death of the people. This is dramatically enhancing the demand for it and further impelling the medium voltage switchgear market growth worldwide.

However, strict security and environmental regulations regarding medium voltage switchgear production may impede market growth. Despite this, the advancements in technologies and untapped potential in developing markets may propose profitable growth opportunities for the market.

Geographically, Asia Pacific is expected to dominate the medium voltage (MV) switchgear market growth, owing to the increasing power demand & grid connectivity across the region. In addition, increasing investments in renewable energy and also, especially in developing countries such as China & India are the leading revenue-generating countries and are expected to drive the market growth in this region. Turning towards the power demand & grid connectivity across the region. For example; According to International Energy Agency (IEA); Power demand in the India is expected to grow at an annual rate of 6.5 percent between 2022 & 2024 backed by rising consumption from residential and industrial segments.  

Also, the emerging countries such as India and China, with the decentralization, decarbonization, and digitalization of the energy sector, electrical utilities are taking steps to transition & upgrade their power systems to cater to future grid requirements. As the Switchgear & substations are critical components of power transmission and distribution (T&D) networks. It is pushing the market growth into the region. Despite this, the growth is also associated with the rising government efforts towards infrastructural developments in the developing economies such as India, Thailand, Malaysia, Vietnam, Philippines, and Indonesia.  

Likewise, North America stands at second position in dominance due to increased demand for energy efficient T&D systems and stringent energy efficiency norms to curb GHG emissions in this region. When it comes to electrical power transmission and distribution, there seems to be increased adoption of an ac system rather than a dc system. Thus, as switchgear has been the backbone of electricity grids, switching equipment became a requirement to connect power generation sources & loads to a single electricity line, which has resulted in a complex yet effective meshed topology that is today’s electricity grid. Expressing about U.S. Grid Advancements, medium voltage (MV) switchgears are installed throughout the sub-T&D sectors in addition to generation and in industry in United States. And also, according to Endeavor Business Media, Switchgear is used in various application verticals in the United States, which can be categorized into three parent categories: utility distribution, power generation and industry.

Global Medium Voltage Switchgears Market Analysis and Forecast, By Regional Analysis

North America is expected to show significant growth in the global highest medium voltage switchgear market over the forecast period due to the supportive government initiatives towards infrastructure development and the presence of leading vendors in this region. For instance; Federal agency clients in the Washington, DC area can count on GSA to provide switchgear services to government-owned buildings for further development. And in 2018, Schneider Electric launched CBGS-0, innovative medium voltage switchgear in the U.S. This industry-leading gas-insulated switchgear with a solid dielectric busbar is used for applications up to 38 kilovolts, 2,000 A, and 31.5kA. It became the most recent addition to a portfolio of Schneider of innovative medium voltage switchgear solutions. Moreover, a large number of industries, as well as commercial buildings in the U.S., are also creating significant demand for the medium voltage switchgear industry in the region. Consequently, these factors are projected to contribute to the regional growth in the forecast period.

On Special Requirement medium voltage switchgear Market Report is also available for below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 33.72 Billion
Base year considered	2021
Forecast Period CAGR %:	3.1%
Market Size Expected in 2028:	USD 40.9 Billion
Tables, Charts & Figures:	175
Pages	200
Medium Voltage Switchgear Manufacturers	General Electric, Bharat Heavy Electricals Limited, Eaton Corporation Plc, Siemens AG, Elatec Power Distribution GmbH, Chint Group Corp, Schneider Electric SE, Mitsubishi Electric Corporation, Powell Industries, ABB Ltd, ZPUE plc and Others.
Segments Covered	By Insulation, By End Use Industry
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa