1 INTRODUCTION 27
1.1 OBJECTIVES OF THE STUDY 27
1.2 DEFINITION 27
1.3 INCLUSIONS AND EXCLUSIONS 28
1.3.1 SWITCHGEAR MARKET, BY INSULATION 28
1.3.2 SWITCHGEAR MARKET, BY INSTALLATION 28
1.3.3 SWITCHGEAR MARKET, BY VOLTAGE 28
1.3.4 SWITCHGEAR MARKET, BY CURRENT 28
1.3.5 SWITCHGEAR MARKET, BY END USER 29
1.3.6 SWITCHGEAR MARKET, BY REGION 29
1.4 MARKET SCOPE 29
1.4.1 SWITCHGEAR MARKET SEGMENTATION 29
1.4.2 REGIONAL SCOPE 30
1.5 YEARS CONSIDERED FOR THE STUDY 30
1.6 CURRENCY 31
1.7 LIMITATIONS 31
1.8 STAKEHOLDERS 31
1.9 SUMMARY OF CHANGES 32
2 RESEARCH METHODOLOGY 33
2.1 RESEARCH DATA 33
FIGURE 1 SWITCHGEAR MARKET: RESEARCH DESIGN 33
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 34
FIGURE 2 DATA TRIANGULATION METHODOLOGY 34
2.2.1 SECONDARY DATA 34
2.2.1.1 Key data from secondary sources 35
2.2.2 PRIMARY DATA 35
2.2.2.1 Breakdown of primaries 35
FIGURE 3 KEY DATA FROM PRIMARY SOURCES 36
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE,
DESIGNATION, AND REGION 36
FIGURE 5 MAIN METRICS CONSIDERED WHILE ANALYZING AND ASSESSING
DEMAND FOR SWITCHGEAR 37
2.3 MARKET SIZE ESTIMATION 37
2.3.1 BOTTOM-UP APPROACH 37
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 37
2.3.2 TOP-DOWN APPROACH 38
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 38
2.3.3 DEMAND-SIDE ANALYSIS 39
2.3.3.1 Regional analysis 39
2.3.3.2 Country analysis 39
2.3.3.3 Demand-side assumptions 40
2.3.3.4 Demand-side calculations 40
2.3.4 SUPPLY-SIDE ANALYSIS 41
FIGURE 8 KEY STEPS CONSIDERED FOR ASSESSING THE SUPPLY OF SWITCHGEARS 41
FIGURE 9 SWITCHGEAR MARKET: SUPPLY-SIDE ANALYSIS 41
2.3.4.1 Supply-side calculations 42
2.3.4.2 Supply-side assumptions 42
2.3.5 FORECAST 42
3 EXECUTIVE SUMMARY 43
TABLE 1 SWITCHGEAR MARKET SNAPSHOT 44
FIGURE 10 ASIA PACIFIC DOMINATED THE SWITCHGEAR MARKET IN 2021 45
FIGURE 11 AIR-INSULATED SWITCHGEARS SEGMENT TO ACCOUNT FOR A LARGER SHARE BETWEEN 2022 AND 2027 46
FIGURE 12 INDOOR SEGMENT TO LEAD SWITCHGEAR MARKET, BY INSTALLATION,
FROM 2022 TO 2027 46
FIGURE 13 HIGH (ABOVE 36 KV) SEGMENT TO DOMINATE THE SWITCHGEAR MARKET FROM 2022 TO 2027 47
FIGURE 14 AC SEGMENT TO HOLD THE LARGEST SHARE OF THE SWITCHGEAR MARKET FROM 2022 TO 2027 47
FIGURE 15 TRANSMISSION & DISTRIBUTION UTILITIES SEGMENT TO HOLD THE LARGEST SHARE OF THE SWITCHGEAR MARKET FROM 2022 TO 2027 48
4 PREMIUM INSIGHTS 49
4.1 ATTRACTIVE OPPORTUNITIES IN THE SWITCHGEAR MARKET 49
FIGURE 16 STRENGTHENING OF POWER DISTRIBUTION INFRASTRUCTURE TO DRIVE
THE SWITCHGEAR MARKET BETWEEN 2022 AND 2027 49
4.2 SWITCHGEAR MARKET, BY REGION 49
FIGURE 17 ASIA PACIFIC MARKET TO EXHIBIT THE HIGHEST CAGR DURING
THE FORECAST PERIOD 49
4.3 ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER AND COUNTRY, 2021 50
FIGURE 18 TRANSMISSION & DISTRIBUTION UTILITIES AND CHINA HELD
THE LARGEST SHARES 50
4.4 SWITCHGEAR MARKET, BY INSULATION 50
FIGURE 19 AIR-INSULATED SWITCHGEARS TO ACCOUNT FOR THE LARGEST SHARE,
BY INSULATION 50
4.5 SWITCHGEAR MARKET, BY INSTALLATION 51
FIGURE 20 THE INDOOR SEGMENT DOMINATES THE SWITCHGEAR MARKET 51
4.6 SWITCHGEAR MARKET, BY VOLTAGE 51
FIGURE 21 HIGH (ABOVE 36 KV) SEGMENT TO HOLD THE LARGEST SHARE OF
THE SWITCHGEAR MARKET 51
 
4.7 SWITCHGEAR MARKET, BY CURRENT 51
FIGURE 22 AC SEGMENT TO HOLD THE LARGEST SHARE OF THE SWITCHGEAR MARKET 51
4.8 SWITCHGEAR MARKET, BY END USER 52
FIGURE 23 TRANSMISSION & DISTRIBUTION UTILITIES SEGMENT DOMINATES
THE SWITCHGEAR MARKET 52
5 MARKET OVERVIEW 53
5.1 INTRODUCTION 53
5.2 COVID-19 HEALTH ASSESSMENT 54
FIGURE 24 GLOBAL PROPAGATION OF COVID-19 54
FIGURE 25 PROPAGATION OF COVID-19 CASES IN SELECT COUNTRIES 55
5.3 MARKET DYNAMICS 55
FIGURE 26 SWITCHGEAR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,
AND CHALLENGES 55
5.3.1 DRIVERS 56
5.3.1.1 Strengthening of power distribution infrastructure 56
5.3.1.2 Increase in renewable energy-based capacity addition 56
FIGURE 27 INSTALLED RENEWABLE ENERGY CAPACITY (2016–2021) 57
5.3.1.3 Increased investment in industrial production 57
FIGURE 28 GLOBAL GDP GROWTH (2010–2022) 57
5.3.2 RESTRAINTS 58
5.3.2.1 Regulations restricting SF6 gas emissions 58
TABLE 2 GLOBAL WARMING POTENTIAL OF GREENHOUSE GASES
(100-YEAR TIME HORIZON) 58
5.3.2.2 Slowdown in the residential real estate sector 59
5.3.3 OPPORTUNITIES 59
5.3.3.1 Emerging smart technologies and digitalization 59
5.3.3.2 Growing usage of high-voltage direct current systems 60
5.3.4 CHALLENGES 60
5.3.4.1 High temperature, arc flashing, and over pressure during operation 60
5.3.4.2 High competition from the unorganized sector 60
5.4 COVID-19 IMPACT 60
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 61
5.5.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SWITCHGEAR PROVIDERS 61
FIGURE 29 REVENUE SHIFT FOR SWITCHGEAR PROVIDERS 62
5.6 MARKET MAP 62
FIGURE 30 MARKET MAP: SWITCHGEAR MARKET 62
TABLE 3 SWITCHGEAR MARKET: ROLE IN ECOSYSTEM 63
5.7 VALUE CHAIN ANALYSIS 65
FIGURE 31 VALUE CHAIN ANALYSIS: SWITCHGEAR MARKET 65
5.7.1 RAW MATERIAL PROVIDERS/SUPPLIERS 65
5.7.2 COMPONENT MANUFACTURERS 65
5.7.3 SWITCHGEAR MANUFACTURERS/ASSEMBLERS 66
5.7.4 DISTRIBUTORS (BUYERS)/END USERS 66
5.7.5 POST-SALES SERVICES 66
5.8 TECHNOLOGY ANALYSIS 66
5.8.1 IOT-CONNECTED SWITCHGEARS 66
5.8.2 SF6-FREE SWITCHGEAR 67
5.9 KEY CONFERENCES & EVENTS IN 2022–2024 67
TABLE 4 SWITCHGEAR MARKET: DETAILED LIST OF CONFERENCES & EVENTS 67
5.10 TARIFFS, CODES, AND REGULATIONS 69
5.10.1 TARIFFS RELATED TO SWITCHGEAR 69
TABLE 5 IMPORT TARIFFS FOR HS 8536 LOW-VOLTAGE PROTECTION
EQUIPMENT IN 2019 69
TABLE 6 IMPORT TARIFFS FOR HS 8535 HIGH-VOLTAGE PROTECTION
EQUIPMENT IN 2019 70
5.11 TRADE ANALYSIS 71
5.11.1 TRADE ANALYSIS FOR ELECTRICAL APPARATUS FOR SWITCHING
OR PROTECTING ELECTRICAL CIRCUITS, FOR A VOLTAGE EXCEEDING
1,000 VOLTS 71
5.11.2 IMPORT SCENARIO 71
TABLE 7 IMPORT SCENARIO FOR HS CODE: 853590, BY COUNTRY, 2019–2021 (USD) 71
5.11.3 EXPORT SCENARIO 72
TABLE 8 EXPORT SCENARIO FOR HS CODE: 853590, BY COUNTRY, 2019–2021 (USD) 72
5.11.4 TRADE ANALYSIS FOR ELECTRICAL APPARATUS FOR SWITCHING OR PROTECTING ELECTRICAL CIRCUITS, FOR A VOLTAGE NOT EXCEEDING
1,000 VOLTS 73
5.11.5 IMPORT SCENARIO 73
TABLE 9 IMPORT SCENARIO FOR HS CODE: 853690, BY COUNTRY, 2019–2021 (USD) 73
5.11.6 EXPORT SCENARIO 74
TABLE 10 EXPORT SCENARIO FOR HS CODE: 853690, BY COUNTRY, 2019–2021 (USD) 74
5.11.7 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75
TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75
TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
TABLE 13 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 77
TABLE 14 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 78
5.11.8 CODES AND REGULATIONS RELATED TO SWITCHGEAR 78
TABLE 15 SWITCHGEAR: CODES AND REGULATIONS 78
5.12 INNOVATIONS AND PATENT REGISTRATIONS 80
TABLE 16 SWITCHGEAR: INNOVATIONS AND PATENT REGISTRATIONS, MAY 2018–APRIL 2022 80
5.13 PORTER’S FIVE FORCES ANALYSIS 88
FIGURE 32 PORTER’S FIVE FORCES ANALYSIS FOR THE SWITCHGEAR MARKET 88
TABLE 17 SWITCHGEAR MARKET: PORTER’S FIVE FORCES ANALYSIS 88
5.13.1 THREAT OF SUBSTITUTES 89
5.13.2 BARGAINING POWER OF SUPPLIERS 89
5.13.3 BARGAINING POWER OF BUYERS 89
5.13.4 THREAT OF NEW ENTRANTS 89
5.13.5 INTENSITY OF COMPETITIVE RIVALRY 90
5.14 KEY STAKEHOLDERS & BUYING CRITERIA 90
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 90
FIGURE 33 INFLUENCE OF KEY STAKEHOLDERS IN BUYING PROCESS FOR TOP
THREE END USERS 90
TABLE 18 INFLUENCE OF KEY STAKEHOLDERS IN BUYING PROCESS FOR TOP
THREE END USERS 90
5.15 BUYING CRITERIA 91
FIGURE 34 INFLUENCE OF KEY STAKEHOLDERS IN BUYING PROCESS FOR TOP
THREE END USERS 91
TABLE 19 KEY BUYING CRITERIA FOR TOP THREE END USERS 91
5.16 CASE STUDY ANALYSIS 92
5.16.1 A MIDWEST MUNICIPAL UTILITY IMPROVES THE SAFETY AND RELIABILITY
OF ITS DISTRIBUTION SYSTEM BY REPLACING OIL-INSULATED SWITCHGEAR WITH ELASTIMOLD SOLID-DIELECTRIC SWITCHGEAR 92
5.16.1.1 Problem Statement: April 2022 92
5.16.1.2 Solution 92
5.16.2 BECKENRIED MUNICIPAL UTILITY IMPROVES THE SUPPLY AT 1,600 METERS ABOVE SEA LEVEL BY REPLACING WITH EATON SF6-FREE XIRIA E SWITCHGEAR 92
5.16.2.1 Problem Statement: April 2022 92
5.16.2.2 Solution 92
5.16.3 GREYSTONE POWER CORPORATION SWITCHED FROM OIL-INSULATED SWITCHGEAR TO SOLID-DIELECTRIC SWITCHGEAR 93
5.16.3.1 Problem Statement: April 2021 93
5.16.3.2 Solution 93
5.16.4 SUSTAINABLE ELECTRICITY SUPPLY IN THE NETHERLANDS GAASPERDAMMER TUNNEL 93
5.16.4.1 Problem Statement: April 2021 93
5.16.4.2 Solution 93
6 SWITCHGEAR MARKET, BY INSULATION 94
6.1 INTRODUCTION 95
FIGURE 35 SWITCHGEAR MARKET, BY INSULATION, 2021 (%) 95
TABLE 20 SWITCHGEAR MARKET, BY INSULATION, 2020–2027 (USD BILLION) 95
6.2 AIR-INSULATED SWITCHGEARS 96
6.2.1 EXPANSION OF GRID INFRASTRUCTURE TO DRIVE THE MARKET FOR
AIR-INSULATED SWITCHGEARS 96
TABLE 21 AIR-INSULATED SWITCHGEARS MARKET, BY REGION,
2020–2027 (USD BILLION) 96
6.3 GAS-INSULATED SWITCHGEARS 97
6.3.1 LOWER MAINTENANCE REQUIREMENTS AND SMALLER FOOTPRINT DRIVE DEMAND FOR GAS-INSULATED SWITCHGEARS 97
TABLE 22 GAS-INSULATED SWITCHGEAR MARKET, BY REGION,
2020–2027 (USD BILLION) 97
6.4 OTHERS 98
TABLE 23 OTHER SWITCHGEARS MARKET, BY REGION, 2020–2027 (USD BILLION) 98
7 SWITCHGEAR MARKET, BY INSTALLATION 99
7.1 INTRODUCTION 100
FIGURE 36 SWITCHGEAR MARKET, BY INSTALLATION, 2021 100
TABLE 24 SWITCHGEAR MARKET, BY INSTALLATION, 2020–2027 (USD BILLION) 100
7.2 INDOOR 101
7.2.1 INCREASING INVESTMENTS IN THE RENEWABLES SECTOR TO DRIVE
THE DEMAND FOR INDOOR SWITCHGEARS 101
TABLE 25 INDOOR SWITCHGEAR MARKET, BY REGION, 2020–2027 (USD BILLION) 101
7.3 OUTDOOR 102
7.3.1 REQUIREMENT FOR HIGH-VOLTAGE SWITCHGEARS DRIVES THE
OUTDOOR SWITCHGEAR MARKET 102
TABLE 26 OUTDOOR SWITCHGEAR MARKET, BY REGION, 2020–2027 (USD BILLION) 102
8 SWITCHGEAR MARKET, BY VOLTAGE 103
8.1 INTRODUCTION 104
FIGURE 37 SWITCHGEAR MARKET, BY VOLTAGE, 2021 104
TABLE 27 SWITCHGEAR MARKET, BY VOLTAGE, 2020–2027 (USD BILLION) 104
8.2 LOW (UP TO 1 KV) 105
8.2.1 GROWTH OF THE COMMERCIAL INFRASTRUCTURE SECTOR TO BOOST
THE LOW-VOLTAGE SWITCHGEAR MARKET 105
TABLE 28 SWITCHGEAR MARKET FOR LOW (UP TO 1 KV) VOLTAGE, BY REGION,
2020–2027 (USD BILLION) 105
8.3 MEDIUM (2–36KV) 106
8.3.1 INCREASING USE OF MEDIUM-VOLTAGE SWITCHGEAR IN RAILWAYS SUPPORTS MARKET GROWTH 106
TABLE 29 SWITCHGEAR MARKET FOR MEDIUM (2–36KV) VOLTAGE, BY REGION,
2020–2027 (USD BILLION) 106
8.4 HIGH (ABOVE 36KV) 107
8.4.1 STRENGTHENING OF TRANSMISSION AND DISTRIBUTION INFRASTRUCTURE TO DRIVE THE DEMAND FOR HIGH-VOLTAGE (ABOVE 36 KV) SWITCHGEARS 107
TABLE 30 SWITCHGEAR MARKET FOR HIGH (ABOVE 36 KV) VOLTAGE, BY REGION, 2020–2027 (USD BILLION) 107
9 SWITCHGEAR MARKET, BY CURRENT 108
9.1 INTRODUCTION 109
FIGURE 38 SWITCHGEAR MARKET, BY CURRENT, 2021 109
TABLE 31 SWITCHGEAR MARKET, BY CURRENT, 2020–2027 (USD BILLION) 109
9.2 AC 110
9.2.1 GROWING DEMAND FOR POWER TO DRIVE THE AC SWITCHGEAR MARKET 110
TABLE 32 AC SWITCHGEAR MARKET, BY REGION, 2020–2027 (USD BILLION) 110
9.3 DC 111
9.3.1 GROWING INVESTMENTS IN RENEWABLE POWER GENERATION PLAY
A KEY ROLE IN MARKET GROWTH 111
TABLE 33 DC SWITCHGEAR MARKET, BY REGION, 2020–2027 (USD BILLION) 111
10 SWITCHGEAR MARKET, BY END USER 112
10.1 INTRODUCTION 113
FIGURE 39 SWITCHGEAR MARKET, BY END USER, 2021 113
TABLE 34 SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 113
10.2 TRANSMISSION & DISTRIBUTION UTILITIES 114
10.2.1 GROWING ELECTRIFICATION TO DRIVE THE GROWTH OF THE TRANSMISSION & DISTRIBUTION UTILITIES 114
TABLE 35 SWITCHGEAR MARKET FOR TRANSMISSION & DISTRIBUTION UTILITIES,
BY REGION, 2020–2027 (USD BILLION) 114
10.3 INDUSTRIES 115
10.3.1 ECONOMIC GROWTH TO DRIVE THE INDUSTRIES END-USER SEGMENT
OF THE SWITCHGEAR MARKET 115
TABLE 36 SWITCHGEAR MARKET FOR INDUSTRIES, BY REGION,
2020–2027 (USD BILLION) 115
10.4 COMMERCIAL & RESIDENTIAL 116
10.4.1 INFRASTRUCTURAL DEVELOPMENTS AND URBANIZATION TO DRIVE
THE GROWTH OF THE COMMERCIAL & RESIDENTIAL SEGMENT 116
TABLE 37 SWITCHGEAR MARKET FOR COMMERCIAL AND RESIDENTIAL, BY REGION, 2020–2027 (USD BILLION) 116
10.5 OTHER END USERS 117
TABLE 38 SWITCHGEAR MARKET FOR OTHER END USERS, BY REGION,
2020–2027 (USD BILLION) 117
11 SWITCHGEAR MARKET, BY REGION 118
11.1 INTRODUCTION 119
FIGURE 40 SWITCHGEAR MARKET SHARE, BY REGION, 2021 120
FIGURE 41 SWITCHGEAR MARKET IN THE ASIA PACIFIC TO REGISTER THE HIGHEST
CAGR DURING THE FORECAST PERIOD 120
TABLE 39 SWITCHGEAR MARKET, BY REGION, 2020–2027 (USD BILLION) 120
11.2 ASIA PACIFIC 121
FIGURE 42 SNAPSHOT: ASIA PACIFIC SWITCHGEAR MARKET 122
11.2.1 BY INSULATION 122
TABLE 40 ASIA PACIFIC: SWITCHGEAR MARKET, BY INSULATION,
2020–2027 (USD BILLION) 122
11.2.2 BY INSTALLATION 123
TABLE 41 ASIA PACIFIC: SWITCHGEAR MARKET, BY INSTALLATION,
2020–2027 (USD BILLION) 123
11.2.3 BY VOLTAGE 123
TABLE 42 ASIA PACIFIC: SWITCHGEAR MARKET, BY VOLTAGE,
2020–2027 (USD BILLION) 123
11.2.4 BY CURRENT 123
TABLE 43 ASIA PACIFIC: SWITCHGEAR MARKET, BY CURRENT,
2020–2027 (USD BILLION) 123
11.2.5 BY END USER 124
TABLE 44 ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 124
11.2.6 BY COUNTRY 124
TABLE 45 ASIA PACIFIC: SWITCHGEAR MARKET, BY COUNTRY,
2020–2027 (USD BILLION) 124
11.2.6.1 China 124
11.2.6.1.1 Increasing investments in clean power generation to
drive the market growth in China 124
TABLE 46 CHINA: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 125
11.2.6.2 India 125
11.2.6.2.1 Rising electrification initiatives in remote parts of
India to drive the demand for switchgears 125
TABLE 47 INDIA: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 126
11.2.6.3 Japan 126
11.2.6.3.1 Replacing aging infrastructure to drive the market
growth for switchgears in Japan 126
TABLE 48 JAPAN: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 127
11.2.6.4 Australia 127
11.2.6.4.1 Electrification of the Australian railroad network to
drive the demand for switchgears 127
TABLE 49 AUSTRALIA: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 128
11.2.6.5 Rest of Asia Pacific 128
TABLE 50 REST OF ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 129
11.3 EUROPE 129
FIGURE 43 SNAPSHOT: EUROPE SWITCHGEAR MARKET 130
11.3.1 BY INSULATION 130
TABLE 51 EUROPE: SWITCHGEAR MARKET, BY INSULATION, 2020–2027 (USD BILLION) 130
11.3.2 BY INSTALLATION 131
TABLE 52 EUROPE: SWITCHGEAR MARKET, BY INSTALLATION,
2020–2027 (USD BILLION) 131
11.3.3 BY VOLTAGE 131
TABLE 53 EUROPE: SWITCHGEAR MARKET VOLUME, BY VOLTAGE,
2020–2027 (USD BILLION) 131
11.3.4 BY CURRENT 131
TABLE 54 EUROPE: SWITCHGEAR MARKET, BY CURRENT, 2020–2027 (USD BILLION) 131
11.3.5 BY END USER 132
TABLE 55 EUROPE: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 132
11.3.6 BY COUNTRY 132
TABLE 56 EUROPE: SWITCHGEAR MARKET, BY COUNTRY, 2020–2027 (USD BILLION) 132
11.3.6.1 Germany 132
11.3.6.1.1 Increasing focus on energy efficiency and grid expansion to drive the market growth for switchgears 132
TABLE 57 GERMANY: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 133
11.3.6.2 UK 133
11.3.6.2.1 The growing integration of renewables in the electricity mix to drive the UK market 133
TABLE 58 UK: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 134
11.3.6.3 Italy 134
11.3.6.3.1 Interconnection of grids to drive the market demand for switchgears in Italy 134
TABLE 59 ITALY: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 134
11.3.6.4 France 135
11.3.6.4.1 Growing focus on the addition of renewable energy-based capacity to drive the market growth in France 135
TABLE 60 FRANCE: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 135
11.3.6.5 Rest of Europe 135
TABLE 61 REST OF EUROPE: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 136
11.4 NORTH AMERICA 136
11.4.1 BY INSULATION 137
TABLE 62 NORTH AMERICA: SWITCHGEAR MARKET, BY INSULATION,
2020–2027 (USD BILLION) 137
11.4.2 BY INSTALLATION 137
TABLE 63 NORTH AMERICA: SWITCHGEAR MARKET, BY INSTALLATION,
2020–2027 (USD BILLION) 137
11.4.3 BY VOLTAGE 137
TABLE 64 NORTH AMERICA: SWITCHGEAR MARKET, BY VOLTAGE,
2020–2027 (USD BILLION) 137
11.4.4 BY CURRENT 138
TABLE 65 NORTH AMERICA: SWITCHGEAR MARKET, BY CURRENT,
2020–2027 (USD BILLION) 138
11.4.5 BY END USER 138
TABLE 66 NORTH AMERICA: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 138
11.4.6 BY COUNTRY 138
TABLE 67 NORTH AMERICA: SWITCHGEAR MARKET, BY COUNTRY,
2020–2027 (USD BILLION) 138
11.4.6.1 US 139
11.4.6.1.1 Replacement of aging power infrastructure to drive the switchgear market in the US 139
TABLE 68 US: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 140
11.4.6.2 Canada 140
11.4.6.2.1 The requirement for low-emission power generation
and growing investments in renewables to drive the
market growth 140
TABLE 69 CANADA: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 140
11.4.6.3 Mexico 141
11.4.6.3.1 Growing investments in strengthening electric power infrastructure to drive the market growth in Mexico 141
TABLE 70 MEXICO: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 141
11.5 MIDDLE EAST & AFRICA 142
11.5.1 BY INSULATION 142
TABLE 71 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY INSULATION,
2020–2027 (USD BILLION) 142
11.5.2 BY INSTALLATION 143
TABLE 72 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY INSTALLATION,
2020–2027 (USD BILLION) 143
11.5.3 BY VOLTAGE 143
TABLE 73 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY VOLTAGE,
2020–2027 (USD BILLION) 143
11.5.4 BY CURRENT 143
TABLE 74 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY CURRENT,
2020–2027 (USD BILLION) 143
11.5.5 BY END USER 144
TABLE 75 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 144
11.5.6 BY COUNTRY 144
TABLE 76 MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY COUNTRY,
2020–2027 (USD BILLION) 144
11.5.6.1 Saudi Arabia 145
11.5.6.1.1 Favorable government policies supporting the utilization
of renewables for power generation to drive the demand
for switchgears 145
TABLE 77 SAUDI ARABIA: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 145
11.5.6.2 UAE 146
11.5.6.2.1 Rapid economic development and the growing demand for power to drive the market growth for switchgears in the UAE 146
TABLE 78 UAE: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 146
11.5.6.3 Egypt 146
11.5.6.3.1 Replacement of power generation infrastructure to drive
the growth of the switchgear market in Egypt 146
TABLE 79 EGYPT: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 147
11.5.6.4 South Africa 147
11.5.6.4.1 Growing development projects for wind power plants to drive the market demand for switchgears in South Africa 147
TABLE 80 SOUTH AFRICA: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 148
11.5.6.5 Rest of the Middle East & Africa 148
TABLE 81 REST OF MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 148
11.6 SOUTH AMERICA 149
11.6.1 BY INSULATION 149
TABLE 82 SOUTH AMERICA: SWITCHGEAR MARKET, BY INSULATION,
2020–2027 (USD BILLION) 149
11.6.2 BY INSTALLATION 150
TABLE 83 SOUTH AMERICA: SWITCHGEAR MARKET, BY INSTALLATION,
2020–2027 (USD BILLION) 150
11.6.3 BY VOLTAGE 150
TABLE 84 SOUTH AMERICA: SWITCHGEAR MARKET, BY VOLTAGE,
2020–2027 (USD BILLION) 150
11.6.4 BY CURRENT 150
TABLE 85 SOUTH AMERICA: SWITCHGEAR MARKET, BY CURRENT,
2020–2027 (USD BILLION) 150
11.6.5 BY END USER 151
TABLE 86 SOUTH AMERICA: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 151
11.6.6 BY COUNTRY 151
TABLE 87 SOUTH AMERICA: SWITCHGEAR MARKET, BY COUNTRY,
2020–2027 (USD BILLION) 151
11.6.6.1 Brazil 151
11.6.6.1.1 Growing demand for power & electrification to drive the demand for switchgears in Brazil 151
TABLE 88 BRAZIL: SWITCHGEAR MARKET, BY END USER, 2020–2027 (USD BILLION) 152
11.6.6.2 Argentina 152
11.6.6.2.1 Rising power demand and government initiatives towards the utilization of renewable energy to drive the switchgear market in Argentina 152
TABLE 89 ARGENTINA: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 153
11.6.6.3 Rest of South America 153
TABLE 90 REST OF SOUTH AMERICA: SWITCHGEAR MARKET, BY END USER,
2020–2027 (USD BILLION) 153
12 COMPETITIVE LANDSCAPE 154
12.1 OVERVIEW 154
12.2 KEY PLAYER STRATEGIES 154
TABLE 91 OVERVIEW OF KEY STRATEGIES DEPLOYED BY TOP PLAYERS,
APRIL 2019–APRIL 2022 154
12.3 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS 156
TABLE 92 SWITCHGEAR MARKET: DEGREE OF COMPETITION 156
FIGURE 44 SWITCHGEAR MARKET SHARE ANALYSIS, 2021 157
12.4 REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS 158
FIGURE 45 TOP PLAYERS IN THE SWITCHGEAR MARKET, 2017–2021 158
 
12.5 COMPANY EVALUATION QUADRANT 159
12.5.1 STARS 159
12.5.2 PERVASIVE PLAYERS 159
12.5.3 EMERGING LEADERS 159
12.5.4 PARTICIPANTS 159
FIGURE 46 COMPETITIVE LEADERSHIP MAPPING: SWITCHGEAR MARKET, 2021 160
12.6 START-UP/SME EVALUATION QUADRANT, 2021 161
12.6.1 PROGRESSIVE COMPANIES 161
12.6.2 RESPONSIVE COMPANIES 161
12.6.3 DYNAMIC COMPANIES 161
12.6.4 STARTING BLOCKS 161
FIGURE 47 SWITCHGEAR MARKET: START-UP/SME EVALUATION QUADRANT, 2021 162
12.6.5 COMPETITIVE BENCHMARKING 163
TABLE 93 SWITCHGEAR MARKET: DETAILED LIST OF KEY START-UPS/SMES 163
TABLE 94 SWITCHGEAR MARKET: COMPETITIVE BENCHMARKING OF KEY
PLAYERS (START-UPS/SMES) 163
12.7 SWITCHGEAR MARKET: COMPANY FOOTPRINT 164
TABLE 95 COMPANY FOOTPRINT: BY VOLTAGE 164
TABLE 96 COMPANY FOOTPRINT: BY END USER 165
TABLE 97 BY REGION: COMPANY FOOTPRINT 166
TABLE 98 OVERALL COMPANY FOOTPRINT 167
12.8 COMPETITIVE SCENARIO 169
TABLE 99 SWITCHGEAR MARKET: PRODUCT LAUNCHES, AUGUST 2020–MARCH 2022 169
TABLE 100 SWITCHGEAR MARKET: DEALS, OCTOBER 2021–APRIL 2022 170
TABLE 101 SWITCHGEAR MARKET: OTHER DEVELOPMENTS, APRIL 2019–APRIL 2022 171
13 COMPANY PROFILES 172
13.1 KEY PLAYERS 172
(Business Overview, Products Offered, Recent Developments, Deals, Other developments, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats)*
13.1.1 ABB 172
TABLE 102 ABB: BUSINESS OVERVIEW 172
FIGURE 48 ABB: COMPANY SNAPSHOT (2021) 173
TABLE 103 ABB: PRODUCTS OFFERED 173
TABLE 104 ABB: DEALS 175
TABLE 105 ABB: OTHER DEVELOPMENTS 177
13.1.2 GENERAL ELECTRIC 179
TABLE 106 GENERAL ELECTRIC: BUSINESS OVERVIEW 179
FIGURE 49 GENERAL ELECTRIC: COMPANY SNAPSHOT (2021) 180
TABLE 107 GENERAL ELECTRIC: PRODUCTS OFFERED 180
TABLE 108 GENERAL ELECTRIC: PRODUCT LAUNCHES 181
TABLE 109 GENERAL ELECTRIC: DEALS 182
TABLE 110 GENERAL ELECTRIC: OTHER DEVELOPMENTS 184
13.1.3 SIEMENS 186
TABLE 111 SIEMENS: BUSINESS OVERVIEW 186
FIGURE 50 SIEMENS: COMPANY SNAPSHOT (2021) 187
TABLE 112 SIEMENS: PRODUCTS OFFERED 187
TABLE 113 SIEMENS: PRODUCT LAUNCHES 190
TABLE 114 SIEMENS: DEALS 191
TABLE 115 SIEMENS: OTHER DEVELOPMENTS 192
13.1.4 SCHNEIDER ELECTRIC 194
TABLE 116 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW 194
FIGURE 51 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT (2021 195
TABLE 117 SCHNEIDER ELECTRIC: PRODUCTS OFFERED 195
TABLE 118 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES 198
TABLE 119 SCHNEIDER ELECTRIC: OTHER DEVELOPMENTS 199
13.1.5 EATON 201
TABLE 120 EATON: BUSINESS OVERVIEW 201
FIGURE 52 EATON: COMPANY SNAPSHOT (2021) 202
TABLE 121 EATON: PRODUCTS OFFERED 202
TABLE 122 EATON: PRODUCT LAUNCHES 204
TABLE 123 EATON: DEALS 205
TABLE 124 EATON: OTHER DEVELOPMENTS 206
13.1.6 MITSUBISHI ELECTRIC 207
TABLE 125 MITSUBISHI ELECTRIC: BUSINESS OVERVIEW 207
FIGURE 53 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT (2021) 208
TABLE 126 MITSUBISHI ELECTRIC: PRODUCTS OFFERED 208
TABLE 127 MITSUBISHI ELECTRIC: PRODUCT LAUNCHES 209
TABLE 128 MITSUBISHI ELECTRIC: DEALS 210
13.1.7 POWELL 211
TABLE 129 POWELL: COMPANY OVERVIEW 211
FIGURE 54 POWELL: COMPANY SNAPSHOT (2021) 211
TABLE 130 POWELL: PRODUCTS OFFERED 212
13.1.8 HAVELLS 213
TABLE 131 HAVELLS: BUSINESS OVERVIEW 213
FIGURE 55 HAVELLS: COMPANY SNAPSHOT (2021) 214
TABLE 132 HAVELLS: PRODUCTS OFFERED 215
TABLE 133 HAVELLS: PRODUCT LAUNCHES 216
13.1.9 BHARAT HEAVY ELECTRICALS LIMITED (BHEL) 217
TABLE 134 BHEL: BUSINESS OVERVIEW 217
FIGURE 56 BHEL: COMPANY SNAPSHOT (2021) 218
TABLE 135 BHEL: PRODUCTS OFFERED 219
 
13.1.10 HYUNDAI ELECTRIC 220
TABLE 136 HYUNDAI ELECTRIC: BUSINESS OVERVIEW 220
FIGURE 57 HYUNDAI ELECTRIC: COMPANY SNAPSHOT (2021) 220
TABLE 137 HYUNDAI ELECTRIC: PRODUCTS OFFERED 221
13.1.11 HUBBELL 222
TABLE 138 HUBBELL: BUSINESS OVERVIEW 222
FIGURE 58 HUBBELL: COMPANY SNAPSHOT (2021) 223
TABLE 139 HUBBELL: PRODUCTS OFFERED 223
13.1.12 FUJI ELECTRIC 224
TABLE 140 FUJI ELECTRIC: BUSINESS OVERVIEW 224
FIGURE 59 FUJI ELECTRIC: COMPANY SNAPSHOT (2021) 225
TABLE 141 FUJI ELECTRIC: PRODUCTS OFFERED 225
TABLE 142 FUJI ELECTRIC: DEALS 226
TABLE 143 FUJI ELECTRIC: OTHER DEVELOPMENTS 226
13.1.13 HITACHI 227
TABLE 144 HITACHI: BUSINESS OVERVIEW 227
FIGURE 60 HITACHI: COMPANY SNAPSHOT (2020) 228
TABLE 145 HITACHI: PRODUCTS OFFERED 228
TABLE 146 HITACHI: PRODUCT LAUNCHES 230
TABLE 147 HITACHI: DEALS 231
TABLE 148 HITACHI: OTHER DEVELOPMENTS 232
13.1.14 LEGRAND 233
TABLE 149 LEGRAND: BUSINESS OVERVIEW 233
FIGURE 61 LEGRAND: COMPANY SNAPSHOT (2021) 233
TABLE 150 LEGRAND: PRODUCTS OFFERED 234
13.1.15 CG POWER AND INDUSTRIAL SOLUTIONS 235
TABLE 151 CG POWER AND INDUSTRIAL SOLUTIONS: BUSINESS OVERVIEW 235
FIGURE 62 CG POWER AND INDUSTRIAL SOLUTIONS: COMPANY SNAPSHOT (2021) 236
TABLE 152 CG POWER AND INDUSTRIAL SOLUTIONS: PRODUCTS OFFERED 237
13.2 OTHER PLAYERS 238
13.2.1 HYOSUNG 238
13.2.2 LUCY ELECTRIC 239
13.2.3 TOSHIBA 240
13.2.4 SÉCHERON 240
13.2.5 ELEKTROBUDOWA 241
*Details on Business Overview, Products Offered, Recent Developments, Deals, Other developments, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats might not be captured in case of unlisted companies.
 
14 APPENDIX 242
14.1 INSIGHTS FROM INDUSTRY EXPERTS 242
14.2 DISCUSSION GUIDE 243
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 247
14.4 AVAILABLE CUSTOMIZATIONS 249
14.5 RELATED REPORTS 249
14.6 AUTHOR DETAILS 250