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Asia Pacific Medium Voltage Switchgear Market Trends

  • Report ID: GMI7274
  • Published Date: Nov 2023
  • Report Format: PDF

Asia Pacific Medium Voltage Switchgear Market Trends

Several notable trends are shaping demand for medium voltage switchgear in Asia Pacific. The rapid urbanization and industrialization in countries like China and India are propelling demand for advanced electrical distribution infrastructure. The increasing focus on renewable energy sources is driving the adoption of switchgear solutions to efficiently manage power generated from sources like solar and wind. There is a growing emphasis on digitalization and smart grid technologies to enhance grid reliability and optimize energy management. Lastly, stringent regulations regarding safety and environmental compliance are encouraging the market's shift towards more eco-friendly and efficient switchgear solutions. These trends collectively point to a dynamic and evolving landscape for medium voltage switchgear in the Asia Pacific region.
 

Energy storage integration is gaining prominence as a means to stabilize power supply and support grid flexibility, especially with the increasing adoption of electric vehicles. The market is also witnessing a rising demand for eco-friendly, gas-insulated switchgear as it offers superior environmental performance. Moreover, the transition to smart cities and infrastructure is driving the incorporation of intelligent switchgear systems with monitoring and control capabilities, enhancing energy efficiency and grid management.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia Pacific market for medium voltage switchgear was surpassed USD 15.2 billion in 2022 and is projected to be worth more than USD 28 billion by 2032, owing to the expanding industrial and infrastructure sectors particularly in countries like China and India

Asia Pacific medium voltage switchgear market from the ? 21 kV to < 27 kV rated segment is set to expand at over 6.7% CAGR from 2023 to 2032, owing to the increasing demand for dependable and secure distribution networks across commercial, residential, industrial, and utility sectors.

China medium voltage switchgear market generated more than USD 5.4 billion in revenue in 2022 and is foreseen to be worth over USD 9 billion by 2032, attributed to the rapid urbanization and industrialization in the country.

Some of the major medium voltage switchgear companies in APAC are ABB, Siemens, General Electric, Mitsubishi Electric Corporation, Schneider Electric, Bharat Heavy Electricals Limited, CG Power & Industrial Solutions Ltd., Eaton, and HYOSUNG HEAVY INDUSTRIES

Asia Pacific Medium Voltage Switchgear Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 405
  • Countries covered: 5
  • Pages: 325
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