Switchgears for Power Transmission Market Trends and Analysis by Region, Technology, Installed Capacity, Key Players and Forecast to 2027
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Switchgears for Power Transmission Market Report Overview
The high-voltage (HV) switchgear market size was $25.02 billion in 2022. The market was expected to achieve a CAGR of more than 4% during 2023-2027. The increasing demand for electricity is propelling the HV switchgear market in growing economies such as Asia-Pacific and the Middle East, with capacity addition in the generation and transmission sectors. The replacement of the aging grid infrastructure, shift to renewable energy, grid reliability issues, improved policy and investment decisions, and technology innovations are the factors aiding the growth of the HV switchgear market in the Americas and Europe.
China, one of the fastest-growing economies with the largest fleet of transmission substations, topped the global HV switchgear market in 2022. Factors such as the need to build transmission infrastructure to move power from renewable sources in remote regions is aiding the growth of the market.
Switchgears for Power Transmission Market Outlook, 2022-2027 ($ Billion)
Large-scale renewable energy deployment will also support the Chinese switchgear market.
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The switchgear for power transmission market research report offers comprehensive information and understanding of the global switchgear for power transmission market. The report offers an in-depth analysis of switchgear for power transmission market in the global, regional (Asia-Pacific, Americas, Europe, and Middle East and Africa) and key countries (the US, Canada, Brazil, India, China, Japan, Germany, Russian Federation, South Africa, and the UK) level.
Market Size (2022) | $25.02 Billion |
CAGR | >4% |
Forecast Period | 2023-2027 |
Historical Period | 2018-2022 |
Key Regions and Countries | • Americas
• Europe and The Middle East and Africa • APAC |
Key Voltage Segments | • Above 172kV
• 72–172kV |
Key Types | • Gas-Insulated Switchgear (GIS)
• Air-Insulated Switchgear (AIS) |
Key Countries | • The US
• Canada • Brazil • India • China • Japan • Germany • Russian Federation • South Africa • The UK |
Leading Companies | • CG Power and Industrial Solutions Limited
• Fuji Electric • General Electric Company • Henan Pinggao Electric Co., Ltd. • Siemens AG |
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Switchgears for Power Transmission Market Dynamics
Public policies for generation capacity transition and expansion will aid market growth. Rapid economic growth and climate change issues led to critical changes in the power sector. Industrialization and enhanced trade cooperation increased the electricity demand globally, necessitating new generation infrastructure. Simultaneously, concerns about carbon emissions prompted countries to transition to a low-carbon economy, increasing the deployment of renewables and gas. The share of conventional generators in power generation is declining due to the increasing use of gas and renewable sources.
Switchgears for Power Transmission Market Segmentation by Voltage
The key segments by voltage in the switchgears for power transmission market are above 172kV and 72–172kV. In 2022, the above 172kV segment dominated the switchgears market. Due to China’s large fleet of substations at the 110kV level, the 72–172kV segment contributes the highest share in terms of market value and volume. The higher growth rate in the above 172kV segment in the last few years was due to the rapid addition of extra-high-voltage networks for inter-regional transmission, and the trend is expected to continue over the forecast period.
Switchgears for Power Transmission Market Analysis, by Voltage Segments, 2022 (%)
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Switchgears for Power Transmission Market Segmentation by Types
The GIS market is consolidated and has a limited number of companies, leading to intense competition in the switchgears market.
The key types in the switchgears for power transmission market are GIS and AIS. In 2022, GIS dominated the switchgears market. The gas-insulated switchgear (GIS) market in EMEA region benefited from its high functional reliability and equipment protection from extreme environmental conditions and the growth is expected to continue.
Switchgears for Power Transmission Market Analysis, by Type, 2022 (%)
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Switchgears for Power Transmission Market Segmentation by Geography
The economic growth in countries in the Middle East led to an increase in the demand for power, contributing to the growth of the market.
The key regions and countries in the switchgears for power transmission market are the Americas, Asia-Pacific, and EMEA. In 2022, EMEA (Europe, Middle East, and Africa) was the largest market for HV switchgears globally. The gas-insulated switchgear (GIS) market in this region benefited from its high functional reliability and equipment protection from extreme environmental conditions and the growth is expected to continue.
The key countries of the switchgears for power transmission market discussed in the report are the US, Canada, Brazil, India, China, Japan, Germany, Russian Federation, South Africa, and the UK.
Switchgears for Power Transmission Market Analysis, by Regions, 2022 (%)
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Switchgears for Power Transmission Market – Competitive Landscape
The key companies in the switchgears for power transmission market are Siemens AG, CG Power and Industrial Solutions Limited, Fuji Electric, General Electric Company, and Henan Pinggao Electric Co., Ltd among others.
Switchgears for Power Transmission Market Analysis, by Companies, 2022 (%)
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Segments Covered in the Report
Switchgears for Power Transmission Market Voltage Outlook (Value, $ Billion, 2018-2027)
- 72–172kV
- Above 172kV
Switchgears for Power Transmission Market Types Outlook (Value, $ Billion, 2018-2027)
- AIS
- GIS
Switchgears for Power Transmission Market Regions Outlook (Value, $ Billion, 2018-2027)
- Americas
- Asia-Pacific
- EMEA
Switchgears for Power Transmission Market Countries Outlook (Value, $ Billion, 2018-2027)
- The US
- Canada
- Brazil
- India
- China
- Japan
- Germany
- Russian Federation
- South Africa
- The UK
Scope
The report analyses the switchgears utilized for power transmission. Its scope includes –
- Analysis of the market trends at global and regional levels including Asia-Pacific, Americas, Europe, and Middle East and Africa.
- The report provides market analysis for key countries including the US, Canada, Brazil, India, China, Japan, Russian Federation, Germany, Saudi Arabia, and the UK.
- The report offers market analysis (value and volume) for the historical period and forecast period based on voltage levels and switchgear type.
- It provides a competitive landscape of leading players at the country level for the year 2022.
Reasons to Buy
The report will enhance your decision-making capability in a more rapid and time-sensitive manner. It will allow you to:
- Facilitate decision-making by analyzing market data on switchgear for power transmission.
- Develop strategies based on developments in the switchgear for the power transmission market.
- Identify key business-development avenues, based on an understanding of the trends in the switchgear for the power transmission market.
- Respond to your competitors’ business structure, strategies, and prospects.
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CG Power and Industrial Solutions Limited
China XD Electric
Energomash
Fuji Electric
General Electric Company
Henan Pinggao Electric Co.Ltd.
Hitachi ABB Power Grids
Hyosung Corporation
Hyundai Electric & Energy Systems
Hyundai Heavy Industry Ltd
Meidensha Corporation
Mitsubishi Electric Corp
New Northeast Electric Group High Voltage Switchgear Co. Ltd
Nissin Electric
Siemens AG
Toshiba Electric Corporation
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Frequently asked questions
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What was the size of the HV switchgear market in 2022?
The HV switchgear market size was valued at $25.02 billion in 2022.
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What is the growth rate of the switchgear for power transmission market?
The market was expected to achieve a CAGR of more than 4% during 2023-2027.
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Which voltage segment accounted for the largest switchgear for power transmission market share?
In 2022, the above 172kV segment dominated the switchgear market.
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Which are the key companies operating in the switchgears for power transmission market?
The key companies in the switchgear for power transmission market are Siemens AG, CG Power and Industrial Solutions Limited, Fuji Electric, General Electric Company, and Henan Pinggao Electric Co., Ltd Among others.
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