Selbyville, Delaware, May 25, 2021 (GLOBE NEWSWIRE) -- As per expert analysts, global switchgear monitoring system market size was worth USD 1.3 billion in 2020 and is projected to expand at 9.7% CAGR over 2020-2027. Growing focus towards maximizing reliability of electrical assets through early detection of failure and integration of renewable energy into the power mix are stimulating the market growth.
Proceeding ahead, the document hosts a broader view of the vertical by conducting in-depth segmental analysis including type, voltage, component, monitoring, end user scope, and regional bifurcation. It also includes complete profiles of each leading firm with respect to their product/service portfolio, financial parameters, and recent developments like investments, partnerships, and mergers. Additionally, if offers insights into the upstream suppliers, downstream buyers, and distributors for a better understanding of the industry value chain.
For those uninitiated, switchgear is a type of electrical equipment that safeguards, controls, and isolates other electrical equipment to enable continuous and reliable electricity supply. It is also de-energizes and clear faults in equipment, however, is one of the most vulnerable links in the power gird infrastructure. A switchgear is built up of various components including fuses, electrical switches, and circuit breakers among others.
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Switchgear control systems aids in monitoring of switchgear functions in transformers and substations. They are also regarded environmentally benign because they help to limit the leakage of the greenhouse gas SF6, further enhancing the overall market outlook.
Considering the factors restraining global switchgear monitoring system market expansion, hefty initial investment for installation continue to pose as a major challenge for businesses in this domain.
Market segmentation overview
With respect to type, the industry segmentation comprises AIS (air-insulated switchgear monitoring systems) and GIS (gas-insulated switchgear monitoring systems). Based on components, the market is split into software & services and hardware. As per voltage type, worldwide switchgear monitoring system industry is categorized into medium and high.
Elaborating on monitoring type, the market is divided into gas monitoring, partial discharge monitoring, temperature monitoring, and others. Moving on to end user scope, the industry is segmented into commercial, industries, utilities, and others.
Geographical terrain summary
Asia Pacific held considerable portion of global switchgear monitoring system market share in 2019, largely attributable to China, which is the leading economy in power transmission and distribution. This can be ascribed to country's focus on constructing transmission lines capable of transporting heavier concentrations over long distances and maintaining a stable power infrastructure.
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Global Switchgear Monitoring System Market by Type (Value, USD Billion, 2018-2027)
- AIS (Air-Insulated Switchgear Monitoring Systems)
- GIS (Gas-Insulated Switchgear Monitoring Systems)
Global Switchgear Monitoring System Market by Components (Value, USD Billion, 2018-2027)
- Software and Services
- Hardware
Global Switchgear Monitoring System Market by Voltage (Value, USD Billion, 2018-2027)
- Medium
- High
Global Switchgear Monitoring System Market by Monitoring Type (Value, USD Billion, 2018-2027)
- Gas Monitoring·Partial Discharge Monitoring
- Temperature Monitoring
- Others
Global Switchgear Monitoring System Market by End User Scope (Value, USD Billion, 2018-2027)
- Commercial·Industries
- Utilities
- Others
Global Switchgear Monitoring System Market Regional Landscape (Value, USD Billion, 2018-2027)
North America
- Canada
- U.S.
Europe
- Italy·Spain
- France
- Germany
- U.K.
- Rest of Europe
Asia Pacific
- South Korea
- Australia
- Japan
- India
- China
- Rest of Asia Pacific
Latin America
- Mexico
- Brazil
- Rest of The World
Global Switchgear Monitoring System Market Top Vendors (Value, USD Billion, 2018-2027)
- Mitsubishi Electric Corporation
- Siemens AG
- PT Tiara Vibrasindo Pratama
- General Electric Company (GE)
- Doble Engineering Company
- Power Diagnostic Service GmbH
- Rugged Monitoring
- High Voltage Partial Discharge Ltd. (HVPD)
- Schneider Electric SE
- Koncar-Electrical Engineering Institute
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Switchgear monitoring system Market , by Region, 2019-2027 (USD Billion)
1.2.2. Switchgear monitoring system Market, by Type, 2019-2027 (USD Billion)
1.2.3. Switchgear monitoring system Market, by Components, 2019-2027 (USD Billion)
1.2.4. Switchgear monitoring system Market, by Voltage, 2019-2027 (USD Billion)
1.2.5. Switchgear monitoring system Market, by Monitoring type, 2019-2027 (USD Billion)
1.2.6. Switchgear monitoring system Market , by End User, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Switchgear monitoring system Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Switchgear monitoring system Market Dynamics
3.1. Switchgear monitoring system Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Renewable energy integration
3.1.1.2. Increasing focus toward maximizing reliability of electrical assets through early detection of failure
3.1.2. Market Restraint
3.1.2.1. High capital requirement for installation
3.1.3. Market Opportunities
3.1.3.1. Replacement of aging grid infrastructure
Chapter 4. Global Switchgear monitoring system Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Switchgear monitoring system Market , by Type
5.1. Market Snapshot
5.2. Global Switchgear monitoring system Market by Type, Performance - Potential Analysis
5.3. Global Switchgear monitoring system Market Estimates & Forecasts by type 2018-2027 (USD Billion)
5.4. Switchgear monitoring system Market , Sub Segment Analysis
5.4.1. GIS (gas-insulated switchgear monitoring systems)
5.4.2. AIS (Air-insulated switchgear monitoring systems )
Chapter 6. Global Switchgear monitoring system Market , by Components
6.1. Market Snapshot
6.2. Global Switchgear monitoring system Market by Components, Performance - Potential Analysis
6.3. Global Switchgear monitoring system Market Estimates & Forecasts by Components 2018-2027 (USD Billion)
6.4. Switchgear monitoring system Market , Sub Segment Analysis
6.4.1. Hardware
6.4.2. Software and Services
Chapter 7. Global Switchgear monitoring system Market , by Voltage
7.1. Global Switchgear monitoring system Market by Voltage, Performance - Potential Analysis
7.2. Global Switchgear monitoring system Market Estimates & Forecasts by Voltage 2018-2027 (USD Billion)
7.3. Switchgear monitoring system Market , Sub Segment Analysis
7.3.1. High
7.3.2. Medium
Chapter 8. Global Switchgear monitoring system Market , by Monitoring type
8.1. Global Switchgear monitoring system Market by Monitoring type, Performance - Potential Analysis
8.2. Global Switchgear monitoring system Market Estimates & Forecasts by monitoring type 2018-2027 (USD Billion)
8.3. Switchgear monitoring system Market , Sub Segment Analysis
8.3.1. Temperature Monitoring
8.3.2. Partial Discharge Monitoring
8.3.3. Gas Monitoring
8.3.4. Others
Chapter 9. Global Switchgear monitoring system Market , by End User
9.1. Global Switchgear monitoring system Market by End user, Performance - Potential Analysis
9.2. Global Switchgear monitoring system Market Estimates & Forecasts by End user 2018-2027 (USD Billion)
9.3. Switchgear monitoring system Market , Sub Segment Analysis
9.3.1. Utilities
9.3.2. Industries
9.3.3. Commercial
9.3.4. Others
Chapter 10. Global Switchgear monitoring system Market , Regional Analysis
Related Report:
Global Switchgear Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
The global switchgear market is poised to bring in significant revenue growth with opportunities in residential, commercial, industrial, and utilities sectors. Switchgear is an apparatus which is mostly used for controlling, switching as well as protecting the electrical circuits and equipment. The isolator, fuses, relays, lightning arresters, switches, circuit breaker, control panels, indicating instrument and potential and current transformer are some of the examples of the switchgear devices.
The switchgear system is linked to the supply system directly. It is placed in both high and low voltage side of the power transformer. The switchgear is utilized for de-energizing the equipment for testing as well as maintenance and for clearing the fault. When the fault occurs in the power system, usually heavy current flows through equipment due to which the equipment gets damaged, and the service also gets interrupted. In order to protect the lines, transformers, generators, as well as other electrical equipment from damage, switchgear or automatic protective devices are required.
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