The high voltage switchgear global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
High Voltage Switchgear Market, 2024 report by The Business Research Company
offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
The high voltage switchgear market size has grown strongly in recent years. It
will grow from $10.87 billion in 2023 to $11.49 billion in 2024 at a compound
annual growth rate (CAGR) of 5.6%. The growth in the historic period can be
attributed to electrical grid expansion, industrialization, technological
advancements, infrastructure development.
The high voltage switchgear market size is expected to see strong growth in the
next few years. It will grow to $14.65 billion in 2028 at a compound annual
growth rate (CAGR) of 6.3%. The growth
in the forecast period can be attributed to renewable energy integration, grid
modernization, electrification trends, grid resilience, digital twin
technologies. Major trends in the forecast period include grid modernization,
renewable energy integration, smart grids, digital substations, gas-insulated
switchgear (gis).
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Scope Of High Voltage Switchgear Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
High Voltage Switchgear Market Overview
Market Drivers -
The demand for electricity generation is projected to drive the high-voltage
switchgear market. The availability of electricity has become essential for
economic development and poverty alleviation. The development of
industrialization and urbanization requires continuous electricity supply, and
the reliability of the electrical supply depends heavily on the performance of
the switchgear. Therefore, electricity demand is driving the demand for
high-voltage switchgear in the forecast period. For instance, according to IEA,
a Paris-based autonomous intergovernmental organization, global electricity
generation demand is expected to grow at 2.1% per year to 2040, twice the rate
of primary energy demand.
The high voltage switchgear market covered in this report is segmented –
1) By Product Standard: IEC Stardard, ANSI Standard
2) By Component: Circuit Breakers, Relays, Other Components
3) By Application: Transmission And Distribution Network, Manufacturing &
Processing, Infrastructure & Transportation
Sub-Segments
By Component: Circuit Breakers, Relays, Other Components
By Insulation Type: Gas Insulated, Oil Insulated, Air Insulated
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Regional Insights -
Asia-Pacific was the largest region in
the high voltage switchgear market in 2023. Western Europe was the second-largest region in the high
voltage switchgear market analysis. The regions covered in the high voltage
switchgear market report are Asia-Pacific, Western Europe, Eastern Europe,
North America, South America, Middle East, Africa
Key Companies -
Major companies operating in the high voltage switchgear market include ABB
Ltd., General Electric Company, Crompton Greaves Limited, Fuji Electric Co.
Ltd., Hitachi Ltd., Hyosung Corporation, Mitsubishi Electric Corporation,
Toshiba Corporation, Siemens Aktiengesellschaft, Eaton Corporation plc,
Schneider Electric SE, China XD Electric Co. Ltd., Henan Pinggao Electric Co.
Ltd., Hyundai Heavy Industries Co. Ltd., Nissin Electric Co. Ltd., Shanghai
Siyuan Electric Co. Ltd., Bharat Heavy Electricals Limited, LSIS Co. Ltd.,
Shenyang High-Voltage Switchgear Co. Ltd., Energomash, New Northeast Electric
Group High Voltage Switchgear Co. Ltd., Shandong Taikai High-volt Switchgear
Co. Ltd., Larsen & Toubro Limited, Hubbell Incorporated, Powell Industries
Inc., Rittal GmbH & Co. KG, Meidensha Corporation, Iljin Electric Co. Ltd.,
Ormazabal Velatia S.L., Alstom SA, OJSC Power Machines, Howard Industries Inc.,
Koncar Distribution and Special Transformers Inc., Ormazabal, Raychem RPG
Private Limited, SPX Transformer Solutions Inc., Tianan Electric Group Co.
Ltd., Transformers and Rectifiers (India) Limited, Triad Magnetics, Voltamp Transformers
Limited
Table of Contents
1. Executive Summary
2. High Voltage Switchgear Market Report Structure
3. High Voltage Switchgear Market Trends And Strategies
4. High Voltage Switchgear Market – Macro Economic Scenario
5. High Voltage Switchgear Market Size And Growth
…..
27. High Voltage Switchgear Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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