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Utility Scale Oil Insulated Switchgear Market Trends

Report ID: GMI11862
Published Date: Oct 2024
Report Format: PDF

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Utility Scale Oil Insulated Switchgear Market Trends

The integration of digital technologies in switchgear, featuring monitoring and diagnostic capabilities, is becoming increasingly prevalent. These digital systems optimize operational performance, reduce maintenance costs, and bolster the reliability of power distribution networks. As countries pursue their renewable energy goals, there is an escalating demand for advanced switchgear solutions capable of managing the intermittent nature and complexities of renewable energy sources.

Oil-insulated switchgear demonstrates suitability for high-voltage applications due to its superior reliability and performance characteristics. This necessity to upgrade existing systems is driving increased demand for new switchgear installations. For instance, In April 2024, Digital Realty and Schneider Electric collaborated with an industry body to implement a circular economy program at the Paris 5 center. This had the purpose to maximize the operational lifespan of critical infrastructure at PAR5, focusing on Schneider’s LV and MV electrical systems, uninterruptible power supply units.

Authors: Ankit Gupta , Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global market for utility-scale oil-insulated switchgear was reached USD 4.8 billion in 2023 and is estimated to grow at a 6.5% CAGR from 2024 to 2032, driven by the increasing need for reliable and efficient power distribution networks.

The low voltage segment is expected to surpass USD 4.1 billion by 2032, due to the demand for advanced and high-capacity low voltage switchgear in extensive residential complexes and expansive industrial parks.

The AC current segment is anticipated to witness a CAGR of more than 6.5% through 2032, propelled by the need for reliable and efficient power distribution systems at a utility scale.

The U.S. utility-scale oil-insulated switchgear market is predicted to hit USD 805 million by 2032, driven by substantial investments in power grid modernization and expansion.

Major players operating in the utility scale oil-insulated switchgear market are ABB, Eaton, Fuji Electric, Hitachi, Hubbell, Hyundai Electric and Energy Systems, Lucy Group, Meidensha, Mitsubishi Electric, Orecco Electric, Powell Industries, Schneider Electric, Sensata Technologies, Siemens, Skema, Switchgear Company.