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Europe Medium Voltage Switchgear Market Trends

Report ID: GMI7335
Published Date: Dec 2024
Report Format: PDF

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Europe Medium Voltage Switchgear Market Trends

One of the most significant trends is the integration of medium voltage switchgear with smart grid technologies. This shift aims to enhance the efficiency, reliability, and safety of power distribution systems. Smart switchgear allows for real-time monitoring, remote control, and predictive maintenance, optimizing energy flow, reducing downtime, and improving fault detection. These advancements help utilities manage power distribution more effectively, especially with the increasing complexity of modern grids. Europe’s commitment to decarbonization and renewable energy adoption is driving a higher demand for medium voltage switchgear.

The trend towards digitalization and automation is reshaping the medium voltage switchgear market. Digital switchgear, which incorporates advanced sensors, communication technologies, and cloud-based analytics, enables utilities to collect valuable data on operational performance. This data aids in optimizing grid operations, enhancing asset management, and providing better insights into system conditions. The rise of automated control systems also supports faster decision-making and response times during grid disturbances, improving overall grid stability.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The European market for medium voltage switchgear was reached USD 14.1 billion in 2024 and is projected to grow at a 7% CAGR from 2025 to 2034, driven by increasing investments in infrastructure and renewable energy sources.

The ≥ 15 kV to < 21 kV voltage segment is expected to surpass USD 5.5 billion by 2034, as these voltage levels are optimal for connecting grid components and integrating renewable energy sources efficiently.

The contactors segment is anticipated to achieve a CAGR of over 7.8% through 2034, led by the adoption of automation technologies in industries and utilities, which increases the demand for reliable switching devices.

The Russia medium voltage switchgear market is likely to exceed USD 3.3 billion by 2034, supported by significant investments in modernizing aging power grid infrastructure to meet rising demand and improve reliability.

Key players in the market include ABB, Bharat Heavy Electricals, CG Power and Industrial Solutions, E + I Engineering, Eaton, Fuji Electric, General Electric, HD Hyundai Electric, Hitachi, Lucy Group, Mitsubishi Electric, Ormazabal, Schneider Electric, Siemens, Skema, and Toshiba.