Asia-Pacific Switchgear Market By Insulation (Air Insulated, Gas Insulated, and Others), By Installation (Indoor and Outdoor), By Voltage ((low (up to 1 kV), medium (Between 1.1 kV and 40 kV), and High (Above 40 kV)), By Current ((Alternating Current (AC) and Direct Current (DC)), By End User (Commercial, Residential, Transmission & Distribution Utilities, Industrial and Others), By Country, Competition Forecast & Opportunities, 2018-2028

Asia-Pacific Switchgear Market is anticipated to grow at a steady pace at a very high CAGR in the forecast period, 2024-2028. The increasing demand for electricity, due to economic expansion, industrialization, rising population, urbanization, and rural electrification projects, is driving the demand for switchgears in Asia-Pacific. The region's adoption of smart switchgear has been made possible by the region's increased focus on renewable energy solutions as a result of the rising energy demands across several end-user sectors. n. The necessity for sophisticated monitoring systems and safe and secure control distribution systems is raising the switchgears’ capabilities. Switchgear is being used by many businesses as a cost-effective alternative. Additionally, factors such as increased adoption of smart switchgear and hybrid switchgear in smart cities in emerging economies, installation cost subsidies and tax incentives, high reliability and efficiency, modular design with lower maintenance requirements and performance enhancement through technological advancements are influencing the market. The need for high voltage and ultra-high voltage switchgears in commercial and industrial settings is also developing rapidly, which has a favorable impact on market expansion and is anticipated to drive the Asia-Pacific Switchgear Market over the anticipated time period.

Electrical switchgear or switchgear refers to a centralized collection of circuit breakers, fuses, and switches (circuit protection devices) that act to safeguard, regulate, and isolate electrical equipment. These circuit protection devices are mounted in metal constructions and distribute power to various sections of a facility and the electrical loads within those sections. A collection of one or more such structures is called a switchgear assembly .. The switches are connected directly to the mains, placing the power transformer to low and high voltage levels. These devices are important in the electrical system to protect the equipment against high current. A switchgear features include the presence of manual control, absolutely safe isolation, complete reliability and manual control. A circuit breaker's principal function is protection, which includes cutting off short circuit and overload fault current, maintaining open circuits, and enhancing system availability by giving the load access to different power sources. Switches are put in a variety of structures, including residential, commercial, and industrial ones, and they may work in both normal and exceptional circumstances to ensure proper electrical energy utilization.

Investment in Renewable Energy

Asia-Pacific Switchgear market is anticipated to improve due to increasing investments in developing renewable energy sources and favorable government laws and subsidies to support new technology across the region. In Asia-Pacific, countries including India, China, Vietnam, Australia, Japan and among others are rising their investment in the renewable energy industry and focusing on clean energy & declining carbon emissions by the end of 2050, as per the Paris Agreement. For instance,

On 1^st February 2023, India decided to invest around USD4.3 billion in clean energy including green electricity, green hydrogen, build irrigation system for farming & drinking water among others across the country. India aimed to develop huge solar projects in the Himalayan region of Ladakh and produce green hydrogen. Additionally, the union government has implemented various programs green fuel, green energy, green farming, green mobility, green buildings, and green equipment, and policies for efficient use of energy.

On 9^th March 2023, in Australia, the Clean Energy Council announced in its quarterly report that USD2.8 billion were invested in renewable energy generation and storage projects in the fourth quarter of 2022. In addition, the Australian Labor government decided to invest USD13 billion in the restoration and modernization of the national electricity grid. It aims to reduce carbon dioxide emissions by 43 percent by 2030 and reach zero by 2050.

On 2^nd March 2023, Japan's Asian Energy Transition Initiative (AETI), launched in 2021, initially supported the Association of Southeast Asian Nations (ASEAN) to achieve net emissions, including USD10 billion in financial support for renewable energy.

The governments of China and India have also switched to solar and wind energy to reduce pollution caused by climate change and maintain economic growth. According to the IEA, China added more than 92 gigawatts of capacity in the last quarter of 2020, more than triple the amount in the last quarter of 2019. This shift to renewable energy has encouraged the construction of more energy infrastructure, which should drive the switchgear market.

Therefore, the use of switching equipment increased as efforts to minimize carbon emissions and consumer knowledge of the advantages of renewable energy production grew. The construction of new transmission & distribution (T&D) lines by bulk power generation facilities using onshore and offshore solar, wind, and hydro sources is anticipated to drive both the adoption of switchgear components and the demand for switchgear in the Asia-Pacific region.

Challenges: Growing Competition from the Unorganized Sectors

The unorganized sector for switchgears has grown steadily. With growth comes the need for continuous development through the integration of new technologies, which is necessary to ensure that safety strip standards are constantly raised so that only standardized switch products are available in the markets. The increasing competition from the unorganized sector and lack of standardization and design parameters have adversely affected the quality of products and the overall growth of the industry. The market studied also shows a growing trend of customization, which has hindered the development of the switchgear market in Asia-Pacific. Poor quality products are the cause of many fires caused by short circuits. This is a major concern in developing countries like India. The main challenges limiting the growth of the switchgear market in Asia-Pacific are budget reductions in project planning, increased pricing pressures due to high competition, and delays and uncertainties in the implementation of various power reforms. MNCs are struggling to hold their market share as profits decline while competition from the unorganized sector increases. For example, in India, increasing pressure and fluctuations in raw material prices as well as imports from other Asian countries, are limiting the market growth.

Recent developments

In October 2020, ABB launched its GIS, the PrimeGear ZX0 switchgear. It distributes energy in the medium voltage (MV) network, it is one of perfect solution to meet electricity demand. In addition, it uses SF6-free switch technology.

ABB has invested in the research and development of alternative solutions for MV GIS SF6 for more than ten years. PrimeGear ZX0 presents an all-in-one solution. It is available with eco-efficient gas mixtures such as Dry Air and AirPlus with a global warming potential of <1.

In China's power grid, demand for HVDC transmission systems is expected to complement the integration of large-scale renewable energies located far from demand centers. It is likely to lead the high voltage switchgear market in the country. In December 2020, Hitachi ABB Power Grids launched a new high-voltage hybrid switchgear for offshore wind applications, specifically designed to enable the operation of the collector grid between wind towers at higher voltage levels. This solution installed in China's first 66 kV offshore wind farm to optimize the energy landscape in the Yangtze Delta.

Market Segmentation

The Asia-Pacific Switchgear Market is divided into insulation, installation, voltage, current, end user, country and competitive landscape. Based on insulation, the market is divided into air insulated, gas insulated, and others. Based on the installation, the market is segmented into indoor and outdoor. Based on Voltage, the market is segmented into low (up to 1 kV), medium (between 1.1 kV and 40 kV), and high (above 40 kV). Based on the current, the market is segmented into current alternating current (AC) and direct current (DC). Based on end-user, the market is segmented into commercial, residential, transmission & distribution utilities, industrial and others. Based on country analysis, the market is segmented into China, India, Japan, Australia, South Korea, Vietnam, Indonesia, Malaysia, Philippines, Singapore.

Market Players

Major market players in the Asia-Pacific Switchgear Market are ABB Ltd, General Electric Company, Siemens AG, Toshiba International Corporation, Mitsubishi Electric Corporation, Bharat Heavy Electricals Limited, Larson & Turbo Limited, Hyosung Heavy Industries Corp., Hitachi Energy Ltd, Eaton Corporation PLC and among others.

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Report Scope:

In this report, the Asia-Pacific Switchgear Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Asia-Pacific Switchgear Market, By Insulation:
• Air Insulated
• Gas Insulated
• Others
• Asia-Pacific Switchgear Market, By Installation:

• Indoor
• Outdoor  
• Asia-Pacific Switchgear Market, By Voltage:
• Low (Up To 1 kV)
• Medium (Between 1.1 kV and 40 kV)
• High (Above 40 kV) 
• Asia-Pacific Switchgear Market, By Current:
• Alternating Current (AC)
• Direct Current (DC)
• Asia-Pacific Switchgear Market, By End User:
• Commercial
• Residential
• Transmission & Distribution Utilities
• Industrial
• Others
• Asia-Pacific Switchgear Market, By Country:
• China
• India
• Japan
• Australia
• South Korea
• Vietnam
• Indonesia
• Malaysia
• Philippines
• Singapore

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Asia-Pacific Switchgear Market.

Available Customizations:

 Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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