Global High Voltage Switchgear Market Report 2022 – Market Forecast, Trends And Strategies

The global high voltage switchgear market size is expected to grow from $9.45 billion in 2021 to $10.61 billion in 2022 at a compound annual growth rate (CAGR) of 12.3%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The high voltage switchgear market is expected to reach $16.61 billion in 2026 at a CAGR of 11.9%.

What is the Global High Voltage Switchgear Market?

The High Voltage Switchgear market consists of revenues generated by entities (organizations, sole traders, or partnerships) that carry out design, manufacturing, and sales of high voltage switchgear. The market also consists of high voltage switchgear that are electrical equipment used in an electrical path to deal with voltage above 36kV and are designed to perform some operations such as control, regulate, and switch on/off as needed in electric circuit.

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What drives the Global High Voltage Switchgear Market?

The demand for electricity generation is projected to drive the high voltage switchgear market. Availability of electricity has become essential for the economic development and poverty alleviation. Development of industrialization, urbanization requires continuous electricity supply, and reliability of the electrical supply depends heavily on the performance of the switchgear. Therefore, electricity demand is driving the demand of high voltage switchgear market in the forecast period. For instance, according to IEA, a Paris-based autonomous intergovernmental organization, global electricity demand expected to grows at 2.1% per year to 2040, twice the rate of primary energy demand.

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Global High Voltage Switchgear Market Segments
The global high voltage switchgear market is segmented:
By Insulation Type: Gas Insulated, Oil Insulated, Air Insulated
By Application: Transmission and Distribution Network, Manufacturing and Processing, Infrastructure and Transportation
By Product Standard: IEC Standard, ANSI Standard
By Component: Circuit Breakers, Relays, Other
By Geography: The regions covered in the high voltage switchgear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

High Voltage Switchgear Global Market Report 2022 provides market size and growth forecasts for the global high voltage switchgear market, global high voltage switchgear market share, high voltage switchgear market segments and geographies, high voltage switchgear market competitive landscape including leading competitors’ revenues, profiles and market shares. The high voltage switchgear market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global High Voltage Switchgear Industry Players include ABB Ltd., General Electric, Company Crompton Greaves Limited, Fuji Electric, Hitachi, Hyosung Corporation, Mitsubishi Electric Corporation, Toshiba Electric Corporation, Siemens AG, and Eaton Corporation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.