Market Overview:
The global hybrid compact switchgear market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy and the need for reliable and efficient power distribution systems. Additionally, the growing infrastructure development in emerging economies is also contributing to the growth of this market. The high voltage switchgear segment is expected to hold a major share of the global hybrid compact switchgear market during the forecast period. This can be attributed to its ability to handle high voltages and provide protection against faults and short circuits.
Product Definition:
Hybrid Compact Switchgear is a type of switchgear that merges the features of both traditional and modular switchgear. This type of switchgear is important because it can provide a more reliable and efficient power distribution system.
High Voltage Switchgear:
High voltage switchgear is a category of switchgear equipment designed to handle extremely high voltages in power transmission and distribution systems. The normal range of switching capacity for commercial purposes is between low and medium voltage, whereas the extremely high range switches are generally referred to as “high voltage” switches. These are typically employed in applications such as hydroelectric plants, nuclear power plants, natural gas liquefaction facilities along with some other industrial processes that require extremely high-voltage supply.
Medium Voltage Switchgear:
The global medium voltage switchgear and it’s usage in the hybrid compact switchgear market size was valued at USD 3.5 billion in 2016. The increasing demand for electricity, especially from developing countries is expected to drive the industry growth over the forecast period.
The growing industrialization coupled with rapid urbanization has resulted in a rise in power consumption across emerging economies such as India, China,.
Application Insights:
The infrastructure application segment accounted for the largest revenue share of over 40% in 2017. The demand for these products is expected to increase as a result of growing urbanization and industrialization, which will eventually boost the product sales over the forecast period.
The global rise in demand for electric vehicles is also likely to have a positive impact on industry growth as compact switchers are widely used in EV chargers owing to their small size and high efficiency. Furthermore, rising investments by governments across various countries towards promoting electric vehicle production will further fuel industry expansion during the forecast period. Hybrid switches use regenerative braking energy and hence reduce electricity consumption compared with conventional electromechanical equipment; this factor along with increasing environmental concerns regarding carbon emissions has led many industries worldwide toward adopting hybrid switchesgear solutions over recent years.
Regional Analysis:
Asia Pacific regional market accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid growth in industrialization, which has led to an increase in demand for switchgears across various applications. Furthermore, increasing penetration of renewable energy sources such as wind and solar is anticipated to drive the demand for hybrid compact switchgear systems across industries such as oil & gas, power generation, mining, etc.
The Middle East & Africa (MEA) market also contributed significantly towards global industry growth owing to growing infrastructure activities coupled with a rise in government initiatives pertaining to sustainable energy solutions that are likely boost product adoption across several sectors including transportation and communication equipment among others.
Growth Factors:
- Increasing demand for energy due to population growth and industrialization in developing countries
- Rapid deployment of renewable energy sources, such as solar and wind power, which require more efficient and reliable switchgear
- Aging electrical infrastructure in developed countries that need to be replaced or upgraded
- Growing popularity of microgrids, which can use hybrid switchgear to manage different types of generation and loads more efficiently
- Increased focus on sustainability and the environment, leading to a preference for hybrid systems that are more efficient and have lower emissions
Scope Of The Report
Report Attributes
Report Details
Report Title
Hybrid Compact Switchgear Market Research Report
By Type
High Voltage Switchgear, Medium Voltage Switchgear, Low Voltage Switchgear
By Application
Industrial Equipment, Seismic Application, Infrastructure, Other
By Companies
ABB, General Electric, Siemens, Schneider Electric, Mitsubishi Electric, Hitachi T&D Solutions, Toshiba, Eaton, TMEIC, Kappa optronics GmbH, Fuji Electric Co
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
192
Number of Tables & Figures
135
Customization Available
Yes, the report can be customized as per your need.
Global Hybrid Compact Switchgear Market Report Segments:
The global Hybrid Compact Switchgear market is segmented on the basis of:
Types
High Voltage Switchgear, Medium Voltage Switchgear, Low Voltage Switchgear
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Industrial Equipment, Seismic Application, Infrastructure, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- General Electric
- Siemens
- Schneider Electric
- Mitsubishi Electric
- Hitachi T&D Solutions
- Toshiba
- Eaton
- TMEIC
- Kappa optronics GmbH
- Fuji Electric Co
Highlights of The Hybrid Compact Switchgear Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- High Voltage Switchgear
- Medium Voltage Switchgear
- Low Voltage Switchgear
- By Application:
- Industrial Equipment
- Seismic Application
- Infrastructure
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hybrid Compact Switchgear Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hybrid Compact Switchgear is a type of switchgear that combines the features of both traditional compact switchgear and full-sized switchgear. Hybrid Compact Switchgear is designed to be smaller and more efficient than either type of switch gear, while still providing the same level of protection and reliability.
Some of the major players in the hybrid compact switchgear market are ABB, General Electric, Siemens, Schneider Electric, Mitsubishi Electric, Hitachi T&D Solutions, Toshiba, Eaton, TMEIC, Kappa optronics GmbH, Fuji Electric Co.
The hybrid compact switchgear market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hybrid Compact Switchgear Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Hybrid Compact Switchgear Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Hybrid Compact Switchgear Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Hybrid Compact Switchgear Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Hybrid Compact Switchgear Market Size & Forecast, 2020-2028 4.5.1 Hybrid Compact Switchgear Market Size and Y-o-Y Growth 4.5.2 Hybrid Compact Switchgear Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 High Voltage Switchgear
5.2.2 Medium Voltage Switchgear
5.2.3 Low Voltage Switchgear
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Industrial Equipment
6.2.2 Seismic Application
6.2.3 Infrastructure
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hybrid Compact Switchgear Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hybrid Compact Switchgear Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 High Voltage Switchgear
9.6.2 Medium Voltage Switchgear
9.6.3 Low Voltage Switchgear
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Industrial Equipment
9.10.2 Seismic Application
9.10.3 Infrastructure
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 High Voltage Switchgear
10.6.2 Medium Voltage Switchgear
10.6.3 Low Voltage Switchgear
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Industrial Equipment
10.10.2 Seismic Application
10.10.3 Infrastructure
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 High Voltage Switchgear
11.6.2 Medium Voltage Switchgear
11.6.3 Low Voltage Switchgear
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Industrial Equipment
11.10.2 Seismic Application
11.10.3 Infrastructure
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 High Voltage Switchgear
12.6.2 Medium Voltage Switchgear
12.6.3 Low Voltage Switchgear
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Industrial Equipment
12.10.2 Seismic Application
12.10.3 Infrastructure
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 High Voltage Switchgear
13.6.2 Medium Voltage Switchgear
13.6.3 Low Voltage Switchgear
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Industrial Equipment
13.10.2 Seismic Application
13.10.3 Infrastructure
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hybrid Compact Switchgear Market: Competitive Dashboard
14.2 Global Hybrid Compact Switchgear Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 General Electric
14.3.3 Siemens
14.3.4 Schneider Electric
14.3.5 Mitsubishi Electric
14.3.6 Hitachi T&D Solutions
14.3.7 Toshiba
14.3.8 Eaton
14.3.9 TMEIC
14.3.10 Kappa optronics GmbH
14.3.11 Fuji Electric Co