Switchgear Market Size in APAC (2020 to 2026) – Industry Trajectory and Analytics

The Asia Pacific switchgear market size will witness an appreciable gain by 2026. Forward-looking companies are leveraging energy-efficient systems to boost Asia Pacific switchgear industry outlook through the integration of sustainable energy. Compelling demand for smart monitoring and control systems to keep up with the electricity demand will bolster decision-making processes.

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The seismic shift towards microgrid networks has complemented the demand for efficient distribution and transmission control systems. End-users have shown traction for cogeneration plants and renewable power generation.

Air insulated switchgears will potentially augment the return on investment (RoI) in India, China and Australia. Surging private and public investments will remain pivotal in bolstering infrastructural growth. Some of the dynamics such as minimal space, low maintenance cost, high dielectric strength and enhanced reliability will expedite air insulated switchgear production.

Medium voltage switchgears will propel the revenue stream with the growth of industrial and commercial facilities. Besides, flourishing investments emphasizing power grid expansion and electrification of off-grid locations. Not to mention, the sheer ability of these switchgears to render safe and reliable operations services, cost-effectiveness and easy installation has further solidified the position of these units.

Indoor switch gears will provide promising growth opportunities with minimized risk of electrocution, compact design and high reliability. Key industry players are counting on sophisticated monitoring and control systems, coupled with energy-efficient systems, driving switchgear market growth in APAC.

DC switchgear will gain prominence across the region owing to surging demand for HVDC systems and the growth of extra high-tension transmission grids. Furthermore, robust uptake of advanced technologies in the offshore oil & gas sectors will propel the industry outlook. The DC switchgear segment will grow at a considerable rate by 2026.

Production of utility-based switchgears has picked pace in the past several years owing to favorable governments’ initiatives. In essence, the wave of smart city projects has mustered up the confidence of major industry players.

Governments are introducing tax rebates, financial incentives and subsidies to encourage the manufacturing of sustainable power generation technologies. Mounting concerns toward grid stability and secure power supply across manufacturing and production facilities will influence the growth of utility-based switchgears.

The China switchgear market will provide lucrative growth opportunities in the light of buoyant demand for electricity and a burgeoning population. Sustainable government policies will play an invaluable role in spurring the industry outlook. To illustrate, Asian Development Bank (ADB) earmarked more than USD 1 billion in 2019 for renewable power generation and sustainable electricity.

Well-established companies envisage massive opportunities in India considering the trend for automation and a viable environment for engineering. With the launch of the duty drawback scheme and other tax rebates, the adoption of renewable energy systems has furthered APAC switchgear market outlook.

Industry leaders will potentially focus on technology-led innovations, such as smart system controls. Specifically, ABB introduced its low voltage switchgear with data analytics, remote assistance and predictive management for real-time industry applications in 2019.

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Leading companies in the landscape are Toshiba, Siemens, Hyundai Electric, Mitsubishi Electric Systems, BHEL, Hitachi Ltd., ABB and Hyosung, among others.

Table of Contents (ToC) of the report:

Chapter 2   Market Snapshot

2.1    Asia Pacific switchgear market snapshot

Chapter 3   Asia Pacific Switchgear Market Trends

3.1    Industry coverage

3.2    Industry size & forecast, 2015 – 2026

3.3    Value chain analysis

3.3.1    Company product snapshot

3.4    Innovation Landscape

3.5    COVID-19 impact on the industry outlook

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Market drivers

3.7.2    Market restraints

3.8    Industry analysis - Porter's

3.9    Product growth mapping

3.10    Competitive benchmarking, 2019

3.10.1    Strategy dashboard

3.11    PEST analysis

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