High Voltage Switchgear refers to the electrical equipment that is used to control, protect and isolate electrical equipment and circuits in a high voltage power system. High Voltage Switchgear plays an important role in the transmission and distribution of electrical power. It is used to switch on or off the power flow in a circuit, and to protect the equipment from overloads and short circuits. The global High Voltage Switchgear Market is expected to grow at a significant rate in the forecast period of 2021-2026.
Market Segmentation
The global High Voltage Switchgear Market can be segmented on the basis of voltage, product, end-user, and region.
On the basis of voltage, the market can be segmented into:
- High Voltage (72.5 kV – 170 kV)
- Extra High Voltage (170 kV – 420 kV)
- Ultra High Voltage (420 kV – 800 kV)
On the basis of product, the market can be segmented into:
- Circuit Breakers
- Gas-Insulated Switchgear (GIS)
- Air-Insulated Switchgear (AIS)
- Hybrid Switchgear
On the basis of end-user, the market can be segmented into:
- Power Transmission
- Power Distribution
- Infrastructure & Transportation
- Industries & OEMs
Regional Analysis
Geographically, the global High Voltage Switchgear Market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific is expected to dominate the High Voltage Switchgear Market owing to the growing demand for electricity in countries like China and India. The increasing population, rapid urbanization, and industrialization are driving the demand for electricity, which is expected to drive the growth of the High Voltage Switchgear Market in the region.
Europe is expected to witness significant growth in the High Voltage Switchgear Market owing to the growing demand for renewable energy sources and the need to upgrade the existing power infrastructure.
North America is expected to witness moderate growth in the High Voltage Switchgear Market owing to the increasing demand for electricity and the need to upgrade the existing power infrastructure.
Latin America and Middle East & Africa are expected to witness steady growth in the High Voltage Switchgear Market owing to the increasing demand for electricity in the region.
Conclusion
The High Voltage Switchgear Market is expected to grow at a significant rate owing to the increasing demand for electricity, the need to upgrade the existing power infrastructure, and the growing demand for renewable energy sources. The market can be segmented on the basis of voltage, product, end-user, and region. Asia Pacific is expected to dominate the market owing to the growing demand for electricity in countries like China and India. Europe is expected to witness significant growth owing to the need to upgrade the existing power infrastructure. North America is expected to witness moderate growth owing to the increasing demand for electricity.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Market Insight Lab journalist was involved in the writing and production of this article.