Switchgear Market Assessment, By Voltage Type, By Insulation, By End-user, By Region, Opportunities and Forecast, 2016-2030F
全球開關設備市場規模預計將從 2022 年的約 976 億美元增長到 2030 年的 1,652 億美元，預測期內複合年增長率為 6.8%。
開關設備在確保配電網路、變電站、工業設施和建築安全可靠運作方面發揮著至關重要的作用。 隨著全球電力需求的增加以及公用事業和工業對電力基礎設施現代化的投資以提高可靠性、效率和安全性，開關設備市場預計將快速成長。 人們也相信，數位技術的整合和智慧電網解決方案的採用將推動開關設備的進一步創新。 由於輸配電網路中開關設備的使用不斷增加，預計未來幾年對開關設備的需求將會增加。
智慧電網基礎設施能夠即時監控和控製配電，這需要具有整合感測器和通訊功能的先進開關設備來收集數據並促進遠端控制。 此外，智慧電網支援即時管理電力消耗的需求響應計劃，而開關設備在選擇性斷開和重新連接負載方面發揮關鍵作用。 此外，智慧開關設備可以與需求響應系統集成，以優化能源使用。 智慧基礎設施透過動態轉移潮流來實現電網優化、減少損耗並提高效率。 所有這些都推動了對支援智慧電網功能和電網優化策略的開關設備的需求。
Global switchgear market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years. With projected revenue of approximately USD 97.6 billion in 2022, the market is forecasted to reach a value of USD 165.2 billion by 2030, displaying a robust CAGR of 6.8% from 2023 to 2030.
Switchgear is a significant segment within the broader electrical equipment industry. Switchgear combines electrical disconnect switches, fuses, circuit breakers, and other equipment used to control, protect, and isolate electrical equipment in power systems. It plays a crucial role in ensuring the safe and reliable operation of electrical grids, substations, industrial facilities, and buildings. Switchgear devices have a wide range of applications in electric substations, aiding them in withstanding fluctuating voltage conditions in challenging environments. The switchgear market is expected to grow faster as the world's electricity demands increase, and as utilities and industries invest in modernizing their electrical infrastructure to improve reliability, efficiency, and safety. Integration of digital technologies and the adoption of smart grid solutions will likely drive further innovation in the switchgear sector. The increasing utilization of switching equipment within transmission and distribution networks is expected to drive the demand for switchgear in the coming years.
In Europe, there are plants to centralize the production of gas-insulated switchgear (GIS) below 170 kilovolts (kV) from Hanau, Germany to Zurich, Switzerland. The Hanau facility has a notable history of pioneering innovation, including developing the world's first eco-efficient (SF6 alternative) GIS. It possesses assembly and testing capabilities for products up to 1,200 kV. In the future, the Hanau and Mannheim GIS operations are expected to shift their focus towards technology development, sales, and service. The extensive presence of high-voltage switchgear in Europe will continue to cater to the region primarily through facilities in Switzerland, Sweden, and Italy, along with the expanding footprint in Bulgaria and the Czech Republic.
Smart grid infrastructure allows for real-time monitoring and control of power distribution. This requires advanced switchgear with integrated sensors and communication capabilities to collect data and facilitate remote control. Smart grids enable demand response programs, where electricity consumption can be managed in real-time. Switchgear plays a crucial role by allowing for the selective disconnection or reconnection of loads. Smart switchgear can integrate with demand response systems to optimize energy usage. Smart infrastructure allows for grid optimization, which involves the dynamic rerouting of power flows to reduce losses and improve efficiency. As a result, there is a growing demand for switchgear that supports these smart grid functionalities and grid optimization strategies.
For example, in March 2023, Siemens invested 30 million euros in expanding its switchgear facility in Fechenheim, Frankfurt. On the extensive 160,000 square-meter site, the company is constructing a smart, fully automated high-speed warehouse and adding a 1,200 square-meter extension to an existing hall. The new production space will facilitate the establishment of a third assembly line for switchgear, thereby enhancing the site's capabilities and generating employment opportunities in the region.
The proliferation of renewable energy projects is causing significant disruption in the switchgear industry. The surge in renewable energy installations, such as solar, wind and green hydrogen plants, is leading to changes in how electrical power is generated and distributed. This shift in power generation methods necessitates updated, specialized switchgear solutions capable of handling intermittent energy sources. Additionally, renewable energy projects, especially in remote or offshore locations, demand robust and reliable switchgear systems that withstand harsh environmental conditions. It has prompted innovations in the design and materials used in switchgear to enhance their durability.
For example, in June 2023, Grid Solutions, an integral division of the GE Vernova portfolio of energy enterprises, was contracted from Larsen & Toubro to provide 380 kV T155 gas-insulated substations (GIS). These substations are intended for use in the world's largest utility-scale hydrogen facility, powered entirely by renewable energy sources. The switchgear design and breaker configuration provided by GE's Grid Solutions division are essential for ensuring a dependable and uninterrupted power supply to the hydrogen plant. GE's well-established GIS design and the utilization of a 1.5 breaker configuration will play a crucial role in maintaining continuous operations at the hydrogen facility and at the associated wind and photovoltaic facilities, which will generate captive energy for the plant. Furthermore, GE's switchgear will enhance the reliability of the primary grid's power supply.
Asia-Pacific, which accounted for over 55% of the worldwide switchgear market revenue in 2022, is expected to register the highest CAGR during the forecast period. The rapid growth of the regional market from 2023 to 2030 can be attributed to significant industries like manufacturing and processing in countries like India and China. Emerging economies like India and South Korea are witnessing a surge in energy demand owing to the increasing requirements for electric power transmission and distribution and electrification initiatives. According to the India Brand Equity Foundation (IBEF), the ongoing electrification efforts are expected to propel power consumption to 1,847 terawatt-hours (TWh) in India by 2022. Additionally, within the Asia-Pacific region, other notable countries such as Japan, Australia, and various Southeast Asian nations are poised to contribute substantially to the industry's growth in the upcoming years.
The June 2023 update of the IEA Government Energy Spending Tracker reveals that governments have allocated USD 1.34 trillion to support clean energy investments since 2020. In the last six months, there has been an announcement of approximately USD 130 billion in new government spending to bolster clean energy investments.
The COVID-19 pandemic had a significant impact on the global switchgear market. As nations implemented comprehensive lockdown measures to curb the spread of COVID-19, various businesses operating in the power industry across diverse sectors were compelled to close their manufacturing facilities and processing operations. Companies worldwide have postponed significant power projects, investment initiatives, and acquisition activities, hindering market expansion. Regarding the domestic aspect, approximately 60% of the switchgear business originates from project-based sources. In the industrial segment, particularly in the low voltage (LV) and medium voltage (MV) categories, over 80% of the business is driven by projects. However, due to the COVID-19 pandemic, most of the residential, commercial, and industrial projects were on hold. Moreover, the COVID-19 pandemic had an adverse impact on investments within the power industry.
Global switchgear market is witnessing a swift growth trajectory due to the increasing emphasis placed by companies worldwide on establishing advanced managed security infrastructure. Furthermore, the market expansion is greatly facilitated by the establishment of smart power grid infrastructure, along with significant investments made by companies to enhance research and development resources, engage in collaboration projects, bolster marketing efforts, and expand distribution networks. These factors collectively contribute to the rapid expansion of the market.
In February 2023, ABB India unveiled production facility in Nashik dedicated to gas-insulated switchgear (GIS). The objective is to cater to diverse industries, encompassing power distribution, smart cities, data centers, transportation (including metro and railways), tunnels, ports, highways, and other infrastructure projects. The newly established facility is anticipated to manufacture both primary and secondary GIS components.
All segments will be provided for all regions and countries covered:
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.