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

  • Industry : Power
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Summary

Report Description

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 1st 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 9th 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 2nd 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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Attribute

Details

Base Year

2022

Historic Data

2018– 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023E-2028F

Report Coverage

Revenue forecast, company share, growth factors, and trends

Segments Covered

Insulation

Installation

Voltage

Current

End User

Country scope

China, India, Japan, Australia, South Korea, Vietnam, Indonesia, Malaysia, Philippines, Singapore.

Key companies profiled

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.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

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).

Asia-Pacific Switchgear Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customer

5.    Asia-Pacific Switchgear Market Outlook

5.1.  Market Size & Forecast

5.1.1.       By Value

5.2.  Market Share & Forecast

5.2.1.       By Insulation (Air Insulated, Gas Insulated, and Others),

5.2.2.       By Installation (Indoor and Outdoor),

5.2.3.      By Voltage, (low (up to 1 kV), medium (between 1.1 kV and 40 kV), and high (above 40 kV)),

5.2.4.       By Current (Alternating current (AC) and Direct Current (DC)),

5.2.5.      By End-User (Commercial, Residential, Transmission & Distribution Utilities, Industrial and Others),

5.2.6.       By Country (China, India, Japan, Australia, South Korea, Vietnam, Indonesia, Malaysia, Philippines, Singapore)

5.2.7.       By Company (2022)

5.3.  Market Map

6.    China Switchgear Market Outlook

6.1.  Market Size & Forecast

6.1.1.       By Value

6.2.  Market Share & Forecast

6.2.1.       By Insulation

6.2.2.      By Voltage

6.2.3.       By Current 

6.2.4.      By End-User

7.    India Switchgear Market Outlook

7.1.  Market Size & Forecast

7.1.1.       By Value

7.2.  Market Share & Forecast

7.2.1.       By Insulation

7.2.2.      By Voltage

7.2.3.       By Current 

7.2.4.      By End-User

8.    Japan Switchgear Market Outlook

8.1.  Market Size & Forecast

8.1.1.       By Value

8.2.  Market Share & Forecast

8.2.1.       By Insulation

8.2.2.      By Voltage

8.2.3.       By Current 

8.2.4.       By End-User

9.    Australia Switchgear Market Outlook

9.1.  Market Size & Forecast

9.1.1.       By Value

9.2.  Market Share & Forecast

9.2.1.       By Insulation

9.2.2.      By Voltage

9.2.3.       By Current 

9.2.4.       By End-User

10. South Korea Switchgear Market Outlook

10.1.   Market Size & Forecast

10.1.1.    By Value

10.2.   Market Share & Forecast

10.2.1.    By Insulation

10.2.2.    By Voltage

10.2.3.    By Current 

10.2.4.    By End-User

11. Vietnam Switchgear Market Outlook

11.1.   Market Size & Forecast

11.1.1.    By Value

11.2.   Market Share & Forecast

11.2.1.    By Insulation

11.2.2.    By Voltage

11.2.3.    By Current 

11.2.4.    By End-User

12. Indonesia Switchgear Market Outlook

12.1.   Market Size & Forecast

12.1.1.    By Value

12.2.   Market Share & Forecast

12.2.1.    By Insulation

12.2.2.    By Voltage

12.2.3.    By Current 

12.2.4.    By End-User

13. Malaysia Switchgear Market Outlook

13.1.   Market Size & Forecast

13.1.1.    By Value

13.2.   Market Share & Forecast

13.2.1.    By Insulation

13.2.2.    By Voltage

13.2.3.    By Current 

13.2.4.    By End-User

14. Philippines Switchgear Market Outlook

14.1.   Market Size & Forecast

14.1.1.    By Value

14.2.   Market Share & Forecast

14.2.1.    By Insulation

14.2.2.    By Voltage

14.2.3.    By Current 

14.2.4.    By End-User

15. Singapore Switchgear Market Outlook

15.1.   Market Size & Forecast

15.1.1.    By Value

15.2.   Market Share & Forecast

15.2.1.    By Insulation

15.2.2.    By Voltage

15.2.3.    By Current 

15.2.4.    By End-User

16. Market Dynamics

16.1.   Drivers

16.2.   Challenges

17. Market Trends & Developments

18. Company Profiles

18.1.   ABB Ltd

18.1.1.    Business Overview

18.1.2.    Key Revenue and Financials (If Available)

18.1.3.    Recent Developments

18.1.4.    Key Personnel

18.1.5.    Key Product/Services

18.2.   General Electric Company

18.2.1.    Business Overview

18.2.2.    Key Revenue and Financials (If Available)

18.2.3.    Recent Developments

18.2.4.    Key Personnel

18.2.5.    Key Product/Services

18.3.   Siemens AG

18.3.1.    Business Overview

18.3.2.    Key Revenue and Financials (If Available)

18.3.3.    Recent Developments

18.3.4.    Key Personnel

18.3.5.    Key Product/Service

18.4.   Toshiba International Corporation

18.4.1.    Business Overview

18.4.2.    Key Revenue and Financials (If Available)

18.4.3.    Recent Developments

18.4.4.    Key Personnel

18.4.5.    Key Product/Service

18.5.   Mitsubishi Electric Corporation

18.5.1.    Business Overview

18.5.2.    Key Revenue and Financials (If Available)

18.5.3.    Recent Developments

18.5.4.    Key Personnel

18.5.5.    Key Product/Services

18.6.   Bharat Heavy Electricals Limited

18.6.1.    Business Overview

18.6.2.    Key Revenue and Financials (If Available)

18.6.3.    Recent Developments

18.6.4.    Key Personnel

18.6.5.    Key Product/Services

18.7.   Larson & Turbo Limited

18.7.1.    Business Overview

18.7.2.    Key Revenue and Financials (If Available)

18.7.3.    Recent Developments

18.7.4.    Key Personnel

18.7.5.    Key Product/Services

18.8.   Hyosung Heavy Industries Corp

18.8.1.    Business Overview

18.8.2.    Key Revenue and Financials (If Available)

18.8.3.    Recent Developments

18.8.4.    Key Personnel

18.8.5.    Key Product/Services

18.9.   Hitachi Energy Ltd

18.9.1.    Business Overview

18.9.2.    Key Revenue and Financials (If Available)

18.9.3.    Recent Developments

18.9.4.    Key Personnel

18.9.5.    Key Product/Services

18.10.Eaton Corporation PLC

18.10.1. Business Overview

18.10.2. Key Revenue and Financials (If Available)

18.10.3. Recent Developments

18.10.4. Key Personnel

18.10.5. Key Product/Services

19. Strategic Recommendations

20. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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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 are the major market players in the Asia-Pacific Switchgear Market.

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Air insulated switchgear segment held the largest market share in 2022 and is expected to register a significant CAGR during the forecast period. AIS consists of a combination of switches, circuit breakers and grounding switches used to regulate, isolate and protect air-insulated electrical equipment. The major buyers of switchgear are power transmission, manufacturing and automation, transportation, and petrochemicals sectors. An air-insulated switchgear is projected to lead the market because it is cheaper, less polluting, simpler in design and easier to maintain than a gas-insulated switchgear.

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Increasing investment in transmission & distribution infrastructure and rising demand for electricity from the commercial & residential sectors are the major drivers of the Asia-Pacific switchgear market.

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Rising competition from unorganized sectors and stringent environmental & safety regulations are the major challenges faced by the Asia-Pacific Switchgear Market.

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