The global Medium Voltage Switchgear Market is expected to reach an estimated $118.6 billion by 2024 and is forecast to grow at a CAGR of 5.0% from 2020 to 2024.
In an electric power system, switchgear is composed of electrical disconnect switches, fuses or circuit breakers used to control, protect and isolate electrical equipment.Switchgear is used both to de-energize equipment to allow work to be done and to clear faults downstream.
Some of the switchgear companies profiled in this report include ABB, General Electric, Schneider Electric, Mitsubishi, Siemens AG, Eaton, Hitachi, and CG Power and Industrial Solutions.
ABB has added UniGear ZS2 switchgear sept in 2020, to the UniGear Digital family - extending the rated voltage rating to up to 36 kV. With this addition, the entire single busbar portfolio of the UniGear medium-voltage (MV) switchgear family becomes available in the digital version. UniGear ZS2 Digital is used to distribute electric power in a variety of demanding applications, such as in utility substations, power plants and chemical plants. The switchgear panels are available as a single busbar, back-to-back solution. Further ABB announced that Operation and maintenance managers have a responsibility to keep their electrical systems up and running 24/7 and at the same time keep control of the costs. Switchgear digitalization and digital switchgear solutions are transforming the way they can achieve this. Digital switchgear can help overcome the hidden costs of traditional switchgear by improving the ability to collect, access, analyze and act on the data your equipment and infrastructure creates, helping you achieve cost savings of up to 30 percent.
Schneider Electric latest secondary distribution switchgear is a perfect fit for large buildings, industries and electricity companies. Using air-insulated technology and rated up to 36 kV, these well-known MV switchboards have field-proven designs for peace of mind. The latest IoT-connected features bring predictive maintenance possibilities to maximize efficiency and minimize downtime.
Segmentation By type it classifies on Air Insulated Switchgears and Gas Insulated Switchgears. By application, Other Low Voltage Switchgear, Metal Enclosed & Metal Clad, MCCB, Fuse, Power Circuit Breaker and Other Medium & High Voltage Switchgear. Geographically it gas segmented into North America, Europe, Asia-Pacific And Row. Asia-Pacific is expected to remain the largest market and is also expected to witness the highest growth over the forecast period. Increasing electricity demand due to growing population, economic expansion, urbanization, industrialization, and rural electrification projects, particularly in India and China, are leading the demand for switchgear.