세계의 스위치기어 시장 : 성장, 동향, COVID-19의 영향, 예측(2023-2028년)

The Switchgear Market is expected to witness a CAGR of about 5.9% during the forecast period. Electrical switchgear is a collection of circuit breakers, switches, and fuses (circuit protection devices) intended to control, protect, and isolate electrical equipment. The switchgear line-up is a metal-enclosed structure with electrically operated switching elements. Switchgear can be further classified as Medium Voltage and Low Voltage. The demand for electricity generation is projected to drive the switchgear market.

The advancement of industrial structures for safe and reliable operations is driving the Switchgear Market. Increasing awareness toward green energy will lead to switchgear usage. Gas-insulated switchgear (GIS) is expected to contribute the maximum share of the global switchgear market.

The use of digital switchgear significantly improves the operating efficiency of the substation room with low energy consumption required for switchgear operation.

Electricity demand is increasing as a result of urbanization and industrialization, which will immediately fuel a significant need for switchgear. Switch gears are becoming increasingly necessary as smart grid and smart meter implementation proceeds.

According to Bloomberg NEF, the worldwide electricity demand is likely to reach around 38,700 terawatt-hours by 2050 from 25,000 terawatt-hours in 2017. This will add to expansion and investment in the power sector, increasing the need for electrical devices like switch gears.

COVID-19 affected the supply chain across all sectors. The electronics and semiconductors industry was affected the most by prevailing supply chain issues.

The government is taking measures to reduce carbon emissions. India has already set the target to become Net-Zero by 2070. The per capita emission of CO2 in India is much less than in other developed countries.

By 2030, the Siemens Energy Switchgear Factory in Berlin hopes to be carbon neutral. It is already developing solutions to make the facility and its machinery safer, greener, and more energy-efficient in production and operation.

Schneider Electric is planning to open a 185,000-sq-ft manufacturing plant in Mexico that will build and ship customized switchgear products used to transmit power, most often in commercial buildings.

Switchgear Market Trends

Switchgear Market Segment by Type Voltage

• Increasing demand for data centers creates the need for low-voltage switch gears to optimize colocation spaces with low voltage. To ensure the optimal and continuous operation of data centers, the companies are developing medium and low-voltage switchgear with superior durability and reliable braking performance.
• In November 2022, the Shanghai Yueke Data Center adopted the switchgear technology from ABB that includes Relion protection and control relays, which quickly identify any issues with the power system. The data will continue to flow uninterruptedly day and night, thanks to this. ABB's improved technology guarantees a low-carbon way to save 20% or more on energy usage.
• In October 2022, Mitsubishi Electric Power Products launched a 72kV vacuum circuit breaker with dry-air insulation, a new addition to its switchgear product line. The product is designed to reduce reliance on greenhouse gas-based insulation. This will also optimize performance, reduce the total cost of equipment ownership, and consistently provide an ongoing return on investment.
• In April 2022, Iberdrola, electric utilities and wind power producer, adopted Siemens Smart Infrastructure. This was also the first installation of fluorine gas-free switchgear from Siemens in Spain.

Switchgear Market Demand in Asia-Pacific

• The growing demand for renewable energy sources has increased power generation capabilities, currently at 14 MW, and is expected to reach 20 MW by 2030.
• The Hornsea Wind Farm is the world's largest offshore wind farm, with 300 turbines spanning 335 square miles and producing enough electricity to power more than 2 million households daily. In comparison to approximately 6,000 in Europe, there are only seven offshore wind turbines off the American coast. By 2030, the US anticipates using the energy of the wind on open oceans to power 10 million homes.
• The Government of India's vision for 2047 on providing power to maximum rural areas in India is the factor expected to contribute to the demand for switchgear in Asia-Pacific. The launch of smart city projects will also surge the electricity demand. The necessity for smart appliances to ensure the system's long-term viability has boosted the need for safe and energy-efficient switchgear.
• The need for switchgear would be fueled by the rapid growth of the Indian industrial sector. The National Statistics Office's data showed that in September 2022, industrial production increased by 3.1%. According to the Index of Industrial Production (IIP), the manufacturing sector contributed 77% of the total, while the electrical segment increased by 11.6%.
• Apart from China and India, Japan and South Korea are the leading promoters of the switchgear market, with dominant industrial advancement due to Industry 4.0.
• In November 2022, Suntory Holdings signed an agreement with Yamanashi Prefecture on decarbonizing Suntory Hakushu Distillery and Suntory Minami Alps Hakushu Water Plant located in Yamanashi Prefecture by installing the country's largest 16 megawatt-size "Yamanashi Model Power-to-Gas (P2G) System" at the company's Hakushu facilities.

Switchgear Industry Overview

Schniender Electric, Havells India Pvt. Ltd, Hyundai Electric and Energy Systems, Fuji Electric, Powell Industries, and many other companies are the major switchgear market players. The increased electrical demand from urbanization and industrialization would fuel a strong need for switchgear.

In February 2023, LMR Technologies, which creates novel solutions for electrical switchgear, inked a contract with R&B Switchgear Services. LMR will look for necessary safety and operational aspects when inspecting and servicing switchgear and live electrical equipment.

In January 2023, to investigate the potential for regional localization of battery and battery swapping station production, Tenaga Switchgear partnered with EP Manufacturing. Tenaga Switchgear manufactures medium and high-voltage switchgear for electrical transmission and is currently attempting to expand into the energy transition market with items like AC and DC EV chargers and infrastructure for battery swapping.

In November 2022, Siemens' Electrical Products business unit and Eplan partnered to offer optimized solutions for switchgear manufacturers and electrical planners. The duo plans to create a plug-and-play structure for electrical planners.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

• 4.1 Market Overview
• 4.2 Industry Attractiveness- Porter's Five Forces Analysis
  • 4.2.1 Bargaining Power of Suppliers
  • 4.2.2 Bargaining Power of Consumers
  • 4.2.3 Threat of New Entrants
  • 4.2.4 Threat of Substitutes
  • 4.2.5 Intensity of Competitive Rivalry
• 4.3 Key Market Trends in Hard (MEP) and Soft (Service) FM in Europe
• 4.4 Impact of COVID-19 on the Facility Management Industry

5 MARKET DYNAMICS

• 5.1 Market Drivers
  • 5.1.1 Growth of Smart Electricity Grid Infrastructure
  • 5.1.2 Growing Focus on Infrastructure and Renewable Energy
• 5.2 Market Challenges
  • 5.2.1 Stringent Environmental and Safety Regulations
  • 5.2.2 Increasing Competition from the Unorganized Sectors

6 Technology Snapshot

7 MARKET SEGMENTATION

• 7.1 By Type of Voltage
  • 7.1.1 Low Voltage
  • 7.1.2 Medium Voltage
  • 7.1.3 High Voltage
• 7.2 By Insulation
  • 7.2.1 Gas-insulated Switchgear (GIS)
  • 7.2.2 Air-insulated Switchgear (AIS)
  • 7.2.3 Other Insulation Types
• 7.3 By Installation
  • 7.3.1 Indoor
  • 7.3.2 Outdoor
• 7.4 By End-user Industry
  • 7.4.1 Commercial
  • 7.4.2 Residential
  • 7.4.3 Industrial
• 7.5 By Geography
  • 7.5.1 North America
  • 7.5.2 Europe
  • 7.5.3 Asia-Pacific
  • 7.5.4 Latin America
  • 7.5.5 Middle-East and Africa

8 COMPETITIVE LANDSCAPE

• 8.1 Company Profiles*
  • 8.1.1 ABB Ltd
  • 8.1.2 Havells India Ltd
  • 8.1.3 Mitsubishi Electric Corporation
  • 8.1.4 Schneider Electric
  • 8.1.5 Siemens AG
  • 8.1.6 Eaton Corporation PLC
  • 8.1.7 Toshiba International Coporation
  • 8.1.8 Meidensha Corporation
  • 8.1.9 Hitachi Ltd
  • 8.1.10 CG Power and Industrial Solutions Limited
  • 8.1.11 Powell Industries
  • 8.1.12 Fuji Electric Co. Ltd

9 INVESTMENT ANALYSIS

10 FUTURE OF THE MARKET