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Asia-Pacific Medium Voltage Switchgear Market Size (2024 - 2029)

The Asia-Pacific medium voltage switchgear market is experiencing growth driven by increasing investments in transmission and distribution infrastructure, which are expected to boost demand. Despite potential challenges posed by the environmental impact of SF6 gas used in insulating switchgear, the market is poised for expansion. Opportunities are anticipated from the integration of renewable energy into national grids, with India emerging as a significant growth contributor in the region.

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Market Size of Asia-Pacific Medium Voltage Switchgear Industry

Asia Pacific Medium Voltage Switchgear Market
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 8.30 %
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

Market Overview

The Asia-Pacific medium voltage switchgear market is estimated to be at USD 2.85 billion by the end of this year. It is projected to reach USD 4.24 billion in the next five years, registering a CAGR of over 8.3% during the forecast period.

Increasing investments in transmission and distribution infrastructure are expected to drive the demand for Switchgear during the forecast period.

However, SF6 gas used in insulating Switchgear is a potent greenhouse gas with a global warming potential that may restrain the market.

Plans to integrate renewable energy with the national grids are expected to create significant opportunities for the switchgear market players in the near future.

India is the second fastest-growing country after China in the Asia Pacific Switchgear market during the forecast period.

Scope of the Report

From 3 KV to 36 KV, switchgear systems are categorized as medium voltage or MV switchgear. This switchgear is of many types. They are metal-enclosed indoor-type switchgear, metal-enclosed outdoor-type switchgear, outdoor-type switchgear without metal enclosure, etc.

Asia-Pacific's medium voltage switchgear market is segmented by voltage, insulation, components country, and end-user. The market is segmented by voltage into 3kV to 12kV, 12kV to 24kV, and 24kV to 36kV. The market is segmented by insulation into gas-insulated switchgear (GIS), air-insulated switchgear (AIS), and others. The market is segmented by components into circuit breakers, contactors, fuses, and switches & disconnectors. The market is segmented by end-user into commercial, industrial, and residential. The report also covers the market size and forecasts for the switchgear market across the regions. The market sizing and forecasts have been done for each segment based on revenue (USD).

Voltage
3kV to 12kV
12kV to 24kV
24kV to 36kV
Component
Circuit Breakers
Contactors
Switches & Disconnector
Fuses
Insulation
Air Insulation Switchgear
Gas Insulation Switchgear
Other Insulations
End-User
Commercial & Residential
Power utilities
Industrial sector
Geography
India
Japan
China
Rest of Asia-Pacific
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Asia-Pacific Medium Voltage Switchgear Market Size Summary

The Asia-Pacific medium voltage switchgear market is poised for significant growth, driven by increasing investments in transmission and distribution infrastructure. This growth is further supported by the integration of renewable energy sources with national grids, presenting substantial opportunities for market players. India is emerging as a key player in this market, following China, with government initiatives like Smart Cities and the Green Energy Corridor Phase-II playing a crucial role in market expansion. The shift towards gas-insulated switchgear (GIS) is notable due to its environmental benefits, space optimization, and lower maintenance costs compared to air-insulated switchgear (AIS). These factors, coupled with rising energy demand and the need to replace outdated switchgear, are expected to bolster the market's growth trajectory.

The market landscape is moderately fragmented, with major players such as Schneider Electric SE, Siemens AG, Hitachi ABB Power Grids Ltd, General Electric Company, and Eaton Corporation actively contributing to the sector's development. Recent initiatives, like ABB's new factory in Vietnam and partnerships for developing SF6-free GIS, highlight the industry's focus on sustainable and innovative solutions. The market's expansion is also supported by India's vast renewable energy potential, with significant solar and wind capacity expected to be harnessed in the coming years. These developments underscore the dynamic nature of the Asia-Pacific medium voltage switchgear market, with a strong emphasis on sustainability and technological advancement.

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Asia-Pacific Medium Voltage Switchgear Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing investments in transmission and distribution infrastructure.

      2. 1.5.2 Restraints

        1. 1.5.2.1 Utilization of SF6 gas in insulating switchgears.

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Force Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Voltage

      1. 2.1.1 3kV to 12kV

      2. 2.1.2 12kV to 24kV

      3. 2.1.3 24kV to 36kV

    2. 2.2 Component

      1. 2.2.1 Circuit Breakers

      2. 2.2.2 Contactors

      3. 2.2.3 Switches & Disconnector

      4. 2.2.4 Fuses

    3. 2.3 Insulation

      1. 2.3.1 Air Insulation Switchgear

      2. 2.3.2 Gas Insulation Switchgear

      3. 2.3.3 Other Insulations

    4. 2.4 End-User

      1. 2.4.1 Commercial & Residential

      2. 2.4.2 Power utilities

      3. 2.4.3 Industrial sector

    5. 2.5 Geography

      1. 2.5.1 India

      2. 2.5.2 Japan

      3. 2.5.3 China

      4. 2.5.4 Rest of Asia-Pacific

Asia-Pacific Medium Voltage Switchgear Market Size FAQs

The Asia-Pacific Medium Voltage Switchgear Market is projected to register a CAGR of 8.30% during the forecast period (2024-2029)

Schneider Electric SE, Hitachi ABB Power Grids Ltd, General Electric Company, Eaton corporation and Siemens AG are the major companies operating in the Asia-Pacific Medium Voltage Switchgear Market.

Asia-Pacific Medium Voltage Switchgear Market Report Snapshots

Asia-Pacific Medium Voltage Switchgear Market - Growth, Trends, and Forecasts (2024 - 2029)