Asia Pacific Medium Voltage Switchgear Market Growth, Size, Trends, Share and Future Outlook
Asia Pacific Medium Voltage Switchgear Market Size- By Voltage, By Component, By Insulation, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2024 | Report ID: POAE2435 | Pages: 1 - 153 | Formats*: |
| Category : Power & Energy | |||
Asia Pacific Medium Voltage Switchgear Market Introduction and Overview
According to SPER Market Research, the Asia Pacific Medium Voltage Switchgear Market is estimated to reach USD 5.89 billion by 2033 with a CAGR of 8.58%.
The report includes an in-depth analysis of the Asia Pacific Medium Voltage Switchgear Market, including market size and trends, product mix, distribution channels, and supplier analysis. A medium voltage switchgear can be classed into three types: installation, insulation medium, and medium. Indoor medium voltage switchgear is often gas-insulated and used in areas where land costs are high or space is limited. Outdoor medium voltage switchgear is the most cost-effective switchgear since it employs air as an insulator. Thus, switchgear is necessary in a variety of applications, including air furnaces, railway traction, electrical transmission and distribution, and many more.
- ABB opened a new factory in Vietnam in September 2022 with the goal of producing more medium-voltage switchgear. The manufacturing hub will use production lines designed and constructed based on the tried-and-true lean manufacturing techniques utilized in the company's European facilities to produce 700 units of plug-and-play modular power distribution systems and 2,000 panels of ABB's UniGear Medium Voltage Switchgear annually.
- March 2022: Using Nuventura's dry air technology, Aktif Elektroteknik and Nuventura collaborated to design and produce SF6-free primary, gas-insulated switchgear (GIS) in Turkey. In addition to producing the goods, Aktif will offer its clients maintenance and post-purchase servicing.
Market Opportunities and Challenges
Opportunities: High-voltage components like disconnectors and circuit breakers are part of the gas-insulated switchgear (GIS), which is encased in metal. In limited locations like city buildings, offices, roofs, extensions, offshore platforms, etc., a GIS is utilized. Switchgear usage is expected to increase due to tightening regulations on overall carbon emissions and growing consumer knowledge of the benefits of adopting renewable energy sources like solar power. The extension or replacement of outdated switchgear at sub-stations that can power the gas-insulated equipment in the switchgear market, as well as the growing energy demand, are the main factors driving the growth. Gas-insulated switchgear is anticipated to become more in demand because of its minimal maintenance requirements, ability to optimize space, and ability to withstand external factors.
Challenges: The medium voltage switchgear market in Asia Pacific has several challenges. A significant hurdle is the mounting pressure, in the face of growing worries over climate change, to adopt ecologically friendly and sustainable solutions. This makes the creation and application of switchgear technologies that are low-impact on the environment and energy-efficient necessary. Manufacturers also face difficulties due to the region's heterogeneous regulatory environment, which necessitates that they follow various certification requirements and standards in several nations.
Market Competitive Landscape
The market for medium voltage switchgear in Asia-Pacific is extremely fragmented. Schneider Electric SE, Siemens AG, Hitachi ABB Power Grids Ltd., General Electric Company, and Eaton Corporation are a few of the major participants.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Voltage, By Component, By Insulation, By End User |
| Regions covered | India, Japan, China, Rest of Asia Pacific |
| Companies Covered | Bharat Heavy Electricals Limited, Chint Group, Eaton Corporation PLC, General Electric Company, Hitachi ABB Ltd., Hyosung Heavy Industries Corp., Lucy Group Ltd., Mitsubishi Electric Corporation, Powell Industries Inc., Schneider Electric SE, Siemens Energy AG, Toshiba Corp., Others |
COVID-19 Impact on Asia Pacific Medium Voltage Switchgear Market
The COVID-19 epidemic has had an impact on various industries, including the medium voltage switchgear market in Asia Pacific. The outbreak caused supply chain disruptions, which impacted production schedules and delivery timeframes by causing delays in industrial processes and shortages of raw materials. Lockdowns and other limitations imposed by the government also hindered infrastructure projects and building, two major factors driving the need for medium voltage switchgear. Businesses also were cautious with their expenditure due to uncertainty about the economic effects of the epidemic, which further reduced investment in new electrical infrastructure. But as businesses looked to reduce on-site staff and maintain operational continuity, the crisis also sped up other trends, such remote monitoring and maintenance solutions.
Key Target Audience:
- Restaurants and Food Service Providers
- Retailers and Grocery Chains
- Seafood Distributors and Wholesalers
- Importers and Exporters
- Seafood Processing Companies
- Aquaculture Farms
- Government Regulatory Bodies
- Consumers and Household Buyers
- Tourism and Hospitality Industry
Our in-depth analysis of the Asia Pacific Medium Voltage Switchgear Market includes the following segments:
| By Voltage: |
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| By Component: |
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| By Insulation: |
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| By End User: |
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Key Topics Covered in the Report:
- Asia Pacific Medium Voltage Switchgear Market Size (FY’2024-FY’2033)
- Overview of Asia Pacific Medium Voltage Switchgear Market
- Segmentation of Asia Pacific Medium Voltage Switchgear Market By Voltage (3kV to 12kV, 12kV to 24kV, 24kV to 36kV)
- Segmentation of Asia Pacific Medium Voltage Switchgear Market By Component (Circuit Breakers, Contactors, Switches & Disconnector, Fuses)
- Segmentation of Asia Pacific Medium Voltage Switchgear Market By Insulation (Air Insulation Switchgear, Gas Insulation Switchgear, Others)
- Expansion Analysis of Asia Pacific Medium Voltage Switchgear Market
- Problems and Obstacles in Asia Pacific Medium Voltage Switchgear Market
- Competitive Landscape in the Asia Pacific Medium Voltage Switchgear Market
- Impact of COVID-19 and Demonetization on Asia Pacific Medium Voltage Switchgear Market
- Details on Current Investment in Asia Pacific Medium Voltage Switchgear Market
- Competitive Analysis of Asia Pacific Medium Voltage Switchgear Market
- Prominent Players in the Asia Pacific Medium Voltage Switchgear Market
- SWOT Analysis of Asia Pacific Medium Voltage Switchgear Market
- Asia Pacific Medium Voltage Switchgear Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Asia Pacific Medium Voltage Switchgear Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia Pacific Medium Voltage Switchgear Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia Pacific Medium Voltage Switchgear Market
7. Asia Pacific Medium Voltage Switchgear Market, By Voltage (USD Million) 2020-2033
7.1. Asia Pacific Medium Voltage Switchgear Market Size, Share and Forecast, By Voltage, 2020-20267.2. Asia Pacific Medium Voltage Switchgear Market Size, Share and Forecast, By Voltage, 2027-20337.3. 3kV to 12kV7.4. 12kV to 24kV7.5. 24kV to 36kV
8. Asia Pacific Medium Voltage Switchgear Market, By Component (USD Million) 2020-2033
8.1. Asia Pacific Medium Voltage Switchgear Market Size, Share and Forecast, By Component, 2020-20268.2. Asia Pacific Medium Voltage Switchgear Market Size, Share and Forecast, By Component, 2027-20338.3. Circuit Breakers8.4. Contactors8.5. Switches & Disconnector8.6. Fuses
9. Asia Pacific Medium Voltage Switchgear Market, By Insulation (USD Million) 2020-2033
9.1. Asia Pacific Medium Voltage Switchgear Market Size, Share and Forecast, By Insulation, 2020-20269.2. Asia Pacific Medium Voltage Switchgear Market Size, Share and Forecast, By Insulation, 2027-20339.3. Air Insulation Switchgear9.4. Gas Insulation Switchgear9.5. Others
10. Asia Pacific Medium Voltage Switchgear Market, By End User (USD Million) 2020-2033
10.1. Asia Pacific Medium Voltage Switchgear Market Size, Share and Forecast, By End User, 2020-202610.2. Asia Pacific Medium Voltage Switchgear Market Size, Share and Forecast, By End User, 2027-203310.3. Commercial & Residential10.4. Power Utilities10.5. Industrial Sector
11. Asia Pacific Medium Voltage Switchgear Market Forecast, 2020-2033 (USD Million)
11.1. Asia Pacific Medium Voltage Switchgear Market Size and Market Share
12. Asia Pacific Medium Voltage Switchgear Market, By Region, 2020-2033 (USD Million)
12.1. Asia Pacific Medium Voltage Switchgear Market Size and Market Share By Region (2020-2026)12.2. Asia Pacific Medium Voltage Switchgear Market Size and Market Share By Region (2027-2033)12.3. India12.4. Japan12.5. China12.6. Rest of Asia Pacific
13. Company Profile
13.1. Bharat Heavy Electricals Limited13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments13.2. Chint Group13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments13.3. Eaton Corporation PLC13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments13.4. General Electric Company13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments13.5. Hitachi ABB Ltd.13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments13.6. Hyosung Heavy Industries Corp.13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments13.7. Lucy Group Ltd.13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments13.8. Mitsubishi Electric Corporation13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments13.9. Powell industries Inc13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments13.10. Schneider Electric SE13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments13.11. Siemens Energy AG13.11.1. Company details13.11.2. Financial outlook13.11.3. Product summary13.11.4. Recent developments13.12. Toshiba Corp.13.12.1. Company details13.12.2. Financial outlook13.12.3. Product summary13.12.4. Recent developments13.13. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Asia Pacific Medium Voltage Switchgear Market is projected to reach USD 5.89 billion by 2033, growing at a CAGR of 8.58 % during the forecast period.
Asia Pacific Medium Voltage Switchgear Market size from 2022. The Market is expected to reach USD 5.89 billion by 2033, at a CAGR of 8.58% during the forecast period.
Asia Pacific Medium Voltage Switchgear Market CAGR of 8.58% during the forecast period.
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Asia Pacific Medium Voltage Switchgear Market size is 5.89 billion from 2024 to 2033.
Asia Pacific Medium Voltage Switchgear Market Segment is covered By Product, By Source, By Type, By Product, By Distribution Channel, By Format.
The Asia Pacific anticipated to have the highest market share in the Asia Pacific Medium Voltage Switchgear Market.
The key players in the market include Companies Covered Bharat Heavy Electricals Limited, Chint Group, Eaton Corporation PLC, General Electric Company, Hitachi ABB Ltd., Hyosung Heavy Industries Corp., Lucy Group Ltd., Mitsubishi Electric Corporation, Powell Industries Inc., Schneider Electric SE, Siemens Energy AG, Toshiba Corp., Others
European facilities to produce 700 units of plug-and-play modular power distribution systems and 2,000 panels of ABB's UniGear Medium Voltage Switchgear annually.
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