GCC Switchgear Market growth to Grow with a robust CAGR of 4.37% through to 2028
Policies and incentives to encourage renewable energy
adoption are expected to drive the GCC Switchgear Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “GCC Switchgear
Market - By Country, Competition, Forecast and Opportunities, 2018-2028”,
the GCC Switchgear Market is expected to register robust during the forecast
period, 2024-2028. The GCC countries are witnessing significant population growth,
propelled by factors such as high birth rates, extended life expectancy, and
immigration. This surge in population results in a heightened demand for
electricity in residential, commercial, and industrial sectors, thereby
necessitating the expansion and modernization of electrical infrastructure.
With a strong emphasis on diversifying
energy sources and decreasing reliance on fossil fuels, GCC countries are
actively investing in renewable energy projects, specifically focusing on solar
and wind power. This transition presents a notable opportunity for the
switchgear market, as the integration of renewable energy sources into the grid
necessitates advanced switchgear solutions to effectively manage intermittent
power generation, ensuring grid stability and reliability.
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spread through 135 Pages and an in-depth TOC on "GCC Switchgear Market”
Based on Insulation, Gas-insulated Switchgears segment
has emerged as the predominant market leader. GIS systems are renowned for
their exceptional reliability and robust safety features. These sealed units
exhibit remarkable resistance to environmental factors such as dust, moisture,
and pollution, rendering them highly suitable for the challenging desert
conditions prevalent in the GCC region. Moreover, their gas-insulated design
effectively mitigates the risks associated with electrical faults and fires.
The integration of renewable energy sources into the GCC's electrical grids
serves as a significant catalyst for the adoption of GIS systems. These systems
excel in managing the intermittent nature of renewable energy generation,
providing stability and facilitating efficient grid management. As GCC
countries continue to invest in smart grid technologies, GIS systems play a
pivotal role in advancing grid automation and digitization. Equipped with
sophisticated communication and monitoring capabilities, they are well-equipped
to support the requirements of smart grid implementations. The growing focus on
smart grid infrastructure in GCC countries presents an opportunity for GIS
providers to capitalize on the demand for cutting-edge switchgear solutions
that seamlessly integrate with grid automation, monitoring, and control
systems. Furthermore, establishing local manufacturing facilities for GIS
equipment can align with localization initiatives in select GCC countries,
fostering partnerships and driving growth. In summary, the Gas-insulated
Switchgears (GIS) segment in the GCC switchgear market is poised for
significant growth, given its compact design, environmental advantages, and
suitability for renewable
Based on End User, Transmission & Distribution
Utilities segment is expected to grow during the forecast period. Ensuring a
dependable and stable electricity supply is of utmost importance. Advanced
switchgear systems play a crucial role in helping utilities effectively manage
voltage levels, reduce power losses, and minimize downtime, all of which are
critical for ensuring consistent power delivery to consumers. With a growing
emphasis on energy efficiency, utilities are increasingly prioritizing the
reduction of losses in the Transmission and Distribution (T&D) system. As a
result, switchgear solutions that offer improved efficiency, lower losses, and
intelligent monitoring capabilities are highly sought after. As grids continue
to digitalize and become more interconnected, cybersecurity has become a top
priority for utilities. This has led to an increased adoption of advanced
switchgear solutions that incorporate built-in cybersecurity features to
safeguard against cyber threats. Utilities seeking to minimize losses and
enhance energy efficiency are potential customers for switchgear providers
offering energy-efficient and low-loss solutions. The ongoing shift towards
smart grids presents significant opportunities for switchgear companies to
offer products that support grid automation, monitoring, and control. By developing
switchgear systems with robust cybersecurity features, these companies can
address utilities' concerns regarding the protection of critical infrastructure
from cyber threats. In conclusion, the Transmission & Distribution
Utilities segment within the GCC switchgear market plays a vital role in
providing reliable electricity to meet the region's growing demands. The
modernization of grids, integration of renewable energy sources, focus on
energy efficiency, and cybersecurity considerations are key factors shaping
this segment and presenting opportunities for switchgear manufacturers and
providers.
Major companies operating in GCC Switchgear Market
are:
- ABB
- Siemens
- Schneider Electric
- Eaton
- Lucy Electric
- Alfanar Group
- Schweitzer Engineering Laboratories
(SEL)
- Hyosung Heavy Industries
- Rittal Middle East
- Elimsan Group
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“Saudi Arabia is expected to dominate the market
during the forecast period.
The
Kingdom has undertaken a strategic endeavor to modernize its electrical grid
through the adoption of smart grid technologies. By integrating advanced
switchgear systems with digital communication and control capabilities, smart
grids improve grid efficiency, reliability, and sustainability. This initiative
opens up opportunities for companies that provide smart switchgear solutions
and services.,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“GCC
Switchgear Market By Insulation (Gas-insulated Switchgears, Air-insulated
Switchgears and Others), By Installation (Indoor and Outdoor), By Voltage (Low
Voltage, Medium Voltage and High Voltage), By End User (Transmission &
Distribution Utilities, Industries, Commercial & Residential and Other), By
Country, By Competition Forecast & Opportunities, 2018-2028”,
has evaluated the future growth potential of GCC Switchgear Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in GCC Switchgear Market.
Contact
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Techsci Research LLC
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