The medium voltage switchgear market size was valued at $14.5 billion in 2021, and medium voltage switchgear industry is estimated to reach $31.7 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.
Medium voltage switchgear refers to electrical equipment used to control, protect, and isolate electrical circuits in systems where the voltage level is typically between 1,000 volts and 33,000 volts. This equipment plays a crucial role in the distribution and transmission of electrical power in medium voltage networks.
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The key players operating in the medium voltage switchgear market are ABB Ltd, General Electrics, Schneider Electrics, Siemens AG, Toshiba Corporation, Mitsubishi Electrics, Eaton Corporation, Bharat Heavy Electrical Ltd., Chint group, Efacec, Fuji Electric Co. Ltd., Hyundai Electric & Energy Systems Co. Ltd., Jyoti group, Ormazabel, Power Well Inc. and LUCY group Ltd.
Types of Medium Voltage Switchgear:
- Metal-Enclosed Switchgear: This type of switchgear is housed in a metal enclosure, which provides protection against environmental factors and enhances safety.
- Gas-Insulated Switchgear (GIS): GIS switchgear uses compressed gas, typically SF6, as an insulating medium. It is compact and suitable for applications where space is limited.
- Air-Insulated Switchgear (AIS): AIS switchgear uses air as the insulating medium. It is less expensive than GIS but requires more space.
- Solid-Insulated Switchgear: Solid-insulated switchgear uses solid insulation materials, such as epoxy resin, to provide insulation and protection.
As per medium voltage switchgear market analysis, on the basis of voltage, the 3kV – 5kV medium voltage switchgear segment is projected to grow at the highest CAGR of approximately 9.1%, in terms of revenue, during the forecast period.
On the current type, the AC segment is expected to dominate the market during the forecast period.
On the basis of insulation type, the air insulated switchgear segment is expected to dominate the market during the forecast period.
On the basis of application, the transmission and distribution utilities segment is expected to dominate the medium voltage switchgear market share during the forecast period.
On the basis of region, the Asia-Pacific segment is projected to grow at the highest CAGR of approximately 8.8%, in terms of revenue, during the forecast period.
On the basis of voltage, the market is classified into 3kV – 5kV, 6kV – 15kV, 16kV – 27kV and 28kV – 40kV. Similarly on the basis of installation type, the medium voltage switchgear market is divided into two major categories which include indoor switchgear and outdoor switchgear.
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Applications:
- Medium voltage switchgear is used in a variety of applications, including:
- Electrical substations for power distribution.
- Industrial facilities to control and protect electrical equipment.
- Commercial and residential buildings for medium voltage power distribution.
- Renewable energy projects, such as wind farms and solar power plants.
The medium voltage switchgear market is classified by insulation type into three categories which include air insulated switchgear, gas insulated switchgear and others (oil and solids).
Depending on the end use industry, the market is broadly divided into three types which are transmission and digital utilities, commercial & residential and others.
Domestic and industrial power demand is increasing significantly due to urbanization, public infrastructure, and the construction of industrial plants around the world which has led to the increased demand for the medium voltage switchgear market opportunities.
Impact of Covid-19 on Medium Voltage Switchgear Market
The COVID-19 outbreak has moderately affected the medium voltage switchgear market due to lockdown measures, the closure of various manufacturing and industrial facilities, and the delay of several infrastructure projects. It had a negative impact on different industries like automobile, aerospace, transportation and construction. The commercial, residential and industrial projects were put on hold due to the strict regulations imposed by the government.
The transportation sector has halted due to the pandemic which caused the stoppage of raw materials required for the manufacturing of the switchgears. Also the reduced manpower has delayed the production process due to the limited number of labor allowed to work.
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A medium voltage switchgear is a device designed to open an electrical circuit by mechanical action. It interrupts the flow of current without permanently damaging the device operating in the voltage range of 3kV-40kV. Switchgear includes, for example, switches, fuses, circuit breakers, disconnectors, relays, current and potential converters, indicators, lightning arresters and control cabinets.
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