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Asia Pacific Medium Voltage Commercial Switchgear Market Trends

  • Report ID: GMI10790
  • Published Date: Aug 2024
  • Report Format: PDF

Asia Pacific Medium Voltage Commercial Switchgear Market Trends

Urbanization and industrialization are core drivers of the MV commercial switchgear market's growth in the Asia Pacific. The ongoing expansion of urban centers, particularly in China and India, is generating substantial demand for reliable and efficient power distribution systems. The rise in commercial buildings, shopping malls, data centers, and industrial facilities requires robust medium voltage switchgear solutions to ensure uninterrupted power supply and operational efficiency. As these countries continue to industrialize, the need for medium voltage switchgear to support new factories, manufacturing plants, and industrial zones is escalating.
 

The increasing focus on renewable energy sources, such as wind and solar, is significantly influencing the MV commercial switchgear market. As countries in the region strive to meet their renewable energy targets, there is a growing demand for advanced switchgear solutions that can integrate and manage renewable energy generation into existing power grids. For instance, China and India are leading the way in solar and wind energy adoption, which necessitates medium voltage switchgear capable of handling variable energy inputs and ensuring grid stability. This trend is expected to continue as more countries in the region commit to reducing their carbon footprints.

Authors: Ankit Gupta , Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

Asia Pacific market for medium voltage commercial switchgear was worth over USD 2.2 billion in 2023 and will grow at a 7.6% CAGR through 2032, due to rapid urbanization, industrialization, and the expansion of infrastructure projects across the region.

The AC voltage segment in the Asia Pacific medium voltage commercial switchgear market is anticipated to cross USD 3.4 billion by 2032, on account of their efficiency in transmitting and distributing electricity over long distances.

China medium voltage commercial switchgear market is expected to reach USD 1.6 billion by 2032, driven by rapid urban expansion.

ABB, Chint Group, E + I Engineering, Eaton Corporation, Fuji Electric Co., Ltd., Hitachi Ltd., Hyosung Corporation, Hyundai Electric & Energy Systems Co., Ltd., Lucy Group Ltd., Mitsubishi Electric Corporation, Powell Industries, Schneider Electric, Siemens, and Skema S.p.A.

Asia Pacific Medium Voltage Commercial Switchgear Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 9
  • Countries covered: 6
  • Pages: 90
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