Recent Development by Key Players is Driving the Global Switchgear Market

The global switchgear market is anticipated to grow at a CAGR of 6.8% during the forecast period. The increasing focus on recent development by key players such as product innovation, technology advancements, expansions, mergers & acquisitions, and finding a new market or innovation in their core competency to expand individual market share is a key factor driving the growth of the global switchgear market. For instance, in June 2022, Schneider Electric launched its SureSeT MV switchgear offering in the North American market. This new and improved solution, backed by the EvoPacT circuit breaker, replaces the Schneider Electric Masterclad solution for primary switchgear applications with a smaller, stronger and smarter solution for managing digital day-to-day operations. 

Browse the full report description of “Switchgear Market Size, Share & Trends Analysis Report, By Type (Voltage, Insulation, and Installation), By End-User Industry (Commercial, Residential, and Industrial), Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/switchgear-market

Further, in January 2020, Siemens Ltd. acquired the New Delhi-based switchgear and power equipment major C&S Electric Ltd. for around $282 million. The acquisition comprises the Indian operations of C&S Electric's low-voltage switchgear components and panels, low and medium voltage power busbars as well as protection and metering devices businesses. The acquisition was done by the Siemens to extent its feet in the Indian market. Such developments are anticipated to drive the growth of the global switchgear market. 

Market Coverage

• The market number available for – 2021-2028

• Base year- 2021

• Forecast period- 2022-2028

• Segment Covered- 

o By Type

o By End-User

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- ABB Ltd., Mitsubishi Electric Corp., Schneider Electric, Siemens AG, and Eaton Corp.

Key questions addressed by the report

• What is the market growth rate?

• Which segment and region dominate the market in the base year?

• Which segment and region will project the fastest growth in the market?

• How COVID-19 impacted the market?

o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

• Who is the leader in the market?

• How are players addressing challenges to sustain growth?

• Where is the investment opportunity?

Global Switchgear Market Report by Segment

By Type

• Voltage
• Insulation
• Installation

By End-User

• Residential
• Industrial 
• Commercial

Global Switchgear Market Report by Region

North America

• United States

• Canada

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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