Medium Voltage Switchgear Market Report: Trends, Forecast and Competitive Analysis to 2030

Medium Voltage Switchgear Market Report: Trends, Forecast and Competitive Analysis to 2030

Medium Voltage Switchgear Trends and Forecast

The future of the global medium voltage switchgear market looks promising with opportunities in the power station, transformer substation, and local electricity supply markets. The global medium voltage switchgear market is expected to reach an estimated $53.0 billion by 2030 with a CAGR of 6.5% from 2024 to 2030. The major drivers for this market are growing demand for electricity and high electricity consumption by electrical and technological devices, rapid industrialization and urbanization, as well as, increasing investments in the construction of infrastructure along with the expanding demand for a consistent and dependable supply of electricity.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Medium Voltage Switchgear by Segment

The study includes a forecast for the global medium voltage switchgear by component, insulation, application, end use, and region.

Medium Voltage Switchgear Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Circuit Breakers
• Contactors
• Switches & Disconnector
• Fuses
• Others

Medium Voltage Switchgear Market by Insulation [Shipment Analysis by Value from 2018 to 2030]:

• Air
• Gas
• Oil
• Vacuum
• Others

Medium Voltage Switchgear Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Residential
• Commercial
• Industrial
• Utility

Medium Voltage Switchgear Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Power Stations
• Transformer Substations
• Local Electricity Supply
• Others

Medium Voltage Switchgear Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Medium Voltage Switchgear Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies medium voltage switchgear companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the medium voltage switchgear companies profiled in this report include-

• HD Hyundai Electric
• Eaton
• ABB
• Mitsubishi Electric
• CG Power & Industrial
• Siemens
• Ormazabal

Medium Voltage Switchgear Market Insights

Lucintel forecasts that circuit breakers is expected to witness the highest growth over the forecast period.

APAC will remain the largest region over the forecast period due to increasing demand for effective transmission & distribution, as well as, numerous governments in this region have introduced smart grid programs, and they have also made significant investments to upgrade the power transmission and distribution networks.

Features of the Global Medium Voltage Switchgear Market

Market Size Estimates: Medium voltage switchgear market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Medium voltage switchgear market size by component, insulation, application, end use, and region in terms of value ($B).

Regional Analysis: Medium voltage switchgear market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different component, insulation, application, end use, and regions for the medium voltage switchgear market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the medium voltage switchgear market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the medium voltage switchgear market size?

Answer: The global medium voltage switchgear market is expected to reach an estimated $53.0 billion by 2030.

Q2. What is the growth forecast for medium voltage switchgear market?

Answer: The global medium voltage switchgear market is expected to grow with a CAGR of 6.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the medium voltage switchgear market?

Answer: The major drivers for this market are growing demand for electricity and high electricity consumption by electrical and technological devices, rapid industrialization and urbanization, as well as, increasing investments in the construction of infrastructure along with the expanding demand for a consistent and dependable supply of electricity.

Q4. What are the major segments for medium voltage switchgear market?

Answer: The future of the global medium voltage switchgear market looks promising with opportunities in the power station, transformer substation, and local electricity supply markets.

Q5. Who are the key medium voltage switchgear market companies?

Answer: Some of the key medium voltage switchgear companies are as follows:

• HD Hyundai Electric
• Eaton
• ABB
• Mitsubishi Electric
• CG Power & Industrial
• Siemens
• Ormazabal

Q6. Which medium voltage switchgear market segment will be the largest in future?

Answer: Lucintel forecasts that circuit breakers is expected to witness the highest growth over the forecast period.

Q7. In medium voltage switchgear market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to increasing demand for effective transmission & distribution, as well as, numerous governments in this region have introduced smart grid programs, and they have also made significant investments to upgrade the power transmission and distribution networks.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the medium voltage switchgear market by component (circuit breakers, contactors, switches & disconnector, fuses, and others), insulation (air, gas, oil, vacuum, and others), application (residential, commercial, industrial, and utility), end use (power stations, transformer substations, local electricity supply, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?