Medium Voltage Switchgear Market Size By Voltage (&#8805; 3 kV to < 9 kV, &#8805; 9 kV to < 15 kV, &#8805; 15 kV to < 21 kV, &#8805; 21 kV to < 27 kV, &#8805; 27 kV to < 33 kV,&#8805; 33 kV), By Component (Circuit Breakers, Contactors, Switches & Disconne

Medium Voltage Switchgear Market Size By Voltage (≥ 3 kV to < 9 kV, ≥ 9 kV to < 15 kV, ≥ 15 kV to < 21 kV, ≥ 21 kV to < 27 kV, ≥ 27 kV to < 33 kV,≥ 33 kV), By Component (Circuit Breakers, Contactors, Switches & Disconnector, Fuses), By Insulation (Air, Gas, Oil, Vacuum), By End-Use (Power Stations, Transformer Substations, Local Electricity Supply), By Application (Residential, Commercial, Industrial, Utility), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

The medium voltage switchgear market is expected to register sizable growth by 2030 owing to the rising demand for effective transmission and distribution infrastructures. In addition, government initiatives to encourage urbanization and commercialization will boost the electrification of remote and rural areas, further boosting industry growth.

A dynamic shift in lifestyles, combined with a greater need for modern infrastructures, has created a favorable path for the market to grow. Government initiatives to further improve infrastructures in less developed areas have also driven market growth.

Moreover, major players in the industry have been concentrating on the development and commercialization of products that address the need for cleaner energy to enhance their market presence, thereby fostering business growth. For instance, in May 2022, Schneider Electric, a prominent energy solutions provider, unveiled its new eco-friendly switchgear that doesn’t use SF6 (sulfur hexafluoride) gas.

The medium voltage switchgear market has been bifurcated based on component, end-use, voltage, installation, application, and region. In terms of voltage, the market has been divided into ≥ 3 kV to < 9 kV, ≥ 9 kV to < 15 kV, ≥ 15 kV to < 21 kV, ≥ 21 kV to < 27 kV, ≥ 27 kV to < 33 kV, and ≥ 33 kV. The ≥ 3 kV to < 9 kV segment is anticipated to witness significant growth up to 2030 on account of a paradigm shift toward IT incorporation across the electricity sector and smart grid deployment.

The medium voltage switchgear market share from the ≥ 15 kV to < 21 kV segment is likely to grow substantially over the analysis timeline owing to the rapid adoption of smart meters, along with evolving smart transmission & distribution technologies. The ≥ 21 kV to < 27 kV segment is estimated to observe strong growth by 2030 due to rising concerns to manage the intermittency produced by the increased use of solar power.

Owing to regulatory provisions that cater to the rapid expansion of smart grid networks, the ≥ 27 kV to < 33 kV segment is foreseen to exhibit steady expansion through the study timespan. The ≥ 33 kV segment is estimated to experience drastic growth as a result of beneficial reforms aligned with large-scale renewable assimilation supported by the upgradation of the existing grid networks to sustain the booming electricity demand.

With reference to component, the medium voltage switchgear market has been categorized into switches & disconnectors, circuit breaker, contractors, and fuses. The contractors segment is anticipated to progress at a significant pace through 2030 due to critical power distribution networks across large industrial establishments, including metal and mining, coupled with railway infrastructure.

The switches & disconnectors segment is anticipated to showcase robust expansion by 2030 on account of product versatility and diverse applicability across distribution networks. The fuses segment is expected to record considerable progress driven by effective corrosion resistance, lower costs, and ease-of-installations offered by the product.

Based on installation, the medium voltage switchgear market has been classified into oil, gas, air, and vacuum. The air segment is projected to witness substantial growth over the analysis period on account of lower insulating & di-electric properties as compared to its competitive counterparts.

Moreover, factors like effective dielectric strength, system compactness, and sound operational safety are likely to drive the growth of the gas-insulated medium voltage switchgear market. The oil segment is foreseen to grow at a sturdy pace by 2030 because of the shifting inclination toward the incorporation of sustainable electricity networks and electrification across standalone grid infrastructure.

With regards to end-use, the medium voltage switchgear market has been segregated into transformer substations, local electricity supply, and power stations. The transformer substations segment is primed to exhibit significant growth through the review period as the incorporation of grid-connected renewable networks, along with decentralized micro-grid infrastructure, has led to the demand for technologically effective circuitry components to sustain varying frequency network integrations across transformer substations.

The local electricity supply segment is primed to amass notable gains up to 2030 supported by government-led initiatives that are encouraging technological escalation to support small-scale renewable integration including rooftops.

From the application point of view, the medium voltage switchgear market has been divided into commercial, utility, residential, and industrial. The residential segment is projected to witness remarkable growth due to an increase in population index across cities and favorable measures for electrification across grid-isolated regions.

The commercial sector is slated to develop at a solid pace by 2030 since large-scale suburban migration and favorable regulatory measures to ensure a healthy livelihood for domestic residents have led to urbanization and expansion of the commercial sector. The industrial segment is set to showcase strong progress. Rising dependency on manufactured products impelled by large-scale suburban migration has increased the focus on expanding electricity networks in the industrial sector, which is poised to fuel segmental growth.

From the regional perspective, the Middle East & Africa medium voltage switchgear market is expected to witness considerable growth owing to the expansion of T&D networks to meet the energy demand across off-grid areas in MEA. On the other hand, surging energy demand, along with rapid urbanization across Latin America, would drive the demand for integrating sustainable electric infrastructure in the region, which is likely to favor LATAM market growth through 2030.