Switchgear Monitoring Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

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  • Number of Pages: 250
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Market Snapshot

CAGR:9.54
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 9.54
Energy & Power-companies
Energy & Power-Snapshot

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Report Overview

Switchgear Monitoring Market Analysis By Application (Utilities, Industrial, Commercial), By Type (GIS, AIS, Hybrid), and By Region Forecast to 2032:

The Switchgear Monitoring Market is poised to witness substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is driven by several key factors, including the increasing demand for reliable power distribution systems, the need for enhanced grid management, and advancements in switchgear monitoring technologies. Switchgear monitoring involves real-time monitoring and control of electrical switchgear systems to ensure efficient and secure power distribution.

Switchgear Monitoring Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Switchgear Monitoring Market is the critical role of switchgear systems in utilities and industrial sectors. Switchgear systems are fundamental for power distribution, protection, and control, and their efficient operation is essential for uninterrupted power supply. Monitoring these systems in real time helps utilities and industries optimize power distribution and prevent downtime, thereby increasing operational efficiency.

Furthermore, the integration of advanced monitoring technologies, such as sensors, communication systems, and data analytics, plays a crucial role in driving market growth. These technologies enable real-time monitoring, predictive maintenance, and remote management of switchgear systems, reducing maintenance costs and enhancing reliability.

Trends:

An emerging trend in the Switchgear Monitoring Market is the adoption of Gas-insulated Switchgear (GIS) and Air-insulated Switchgear (AIS) monitoring solutions. GIS and AIS are commonly used in substations and power distribution systems. Monitoring these systems in real time helps utilities and industries optimize power distribution and prevent downtime, thereby increasing operational efficiency.

Additionally, the growing focus on environmental sustainability is driving the adoption of hybrid switchgear monitoring solutions. These solutions combine the advantages of GIS and AIS while reducing the environmental footprint. Monitoring such hybrid systems helps organizations meet their sustainability goals.

Restraints:

One of the key challenges hindering the growth of the Switchgear Monitoring Market is the high initial investment required for implementing advanced monitoring solutions. While these solutions offer long-term benefits in terms of reduced maintenance costs and improved reliability, the upfront capital expenditure can be a deterrent for some organizations, especially in the commercial sector.

Moreover, concerns related to data security and privacy can act as restraints for the market. Switchgear monitoring systems gather sensitive data related to power distribution and grid operations. Ensuring the security of this data and compliance with data privacy regulations is essential to building trust and encouraging adoption.

Switchgear Monitoring Market Segmentation By Application:

  • Utilities: The utility sector is a significant application area for switchgear monitoring, focusing on improving grid management, reducing downtime, and enhancing power distribution efficiency.
  • Industrial: Industries rely on switchgear systems for power distribution within their facilities. Monitoring these systems helps industries maintain uninterrupted operations and reduce production losses due to power interruptions.
  • Commercial: Commercial buildings and facilities use switchgear systems for power distribution. Monitoring solutions in the commercial sector help enhance energy management and reduce operational costs.

Switchgear Monitoring Market Segmentation By Type:

  • GIS (Gas-insulated Switchgear): GIS monitoring solutions are designed for real-time monitoring and control of gas-insulated switchgear systems, which are commonly used in substations and high-voltage applications.
  • AIS (Air-insulated Switchgear): AIS monitoring solutions cater to air-insulated switchgear systems, which are widely used in medium-voltage applications.
  • Hybrid: Hybrid switchgear monitoring solutions combine the advantages of both GIS and AIS systems while reducing the environmental impact. Monitoring hybrid systems helps organizations achieve sustainability goals.

Regional Overview:


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  • North America is expected to be a key contributor to the global Switchgear Monitoring Market, driven by the region's extensive power infrastructure and the need to modernize aging grid systems. The adoption of advanced monitoring solutions is crucial for ensuring grid reliability.
  • Europe is another prominent market, particularly in countries with a focus on renewable energy integration and grid modernization. Switchgear monitoring supports efficient power distribution in these regions.

Switchgear Monitoring Market Customer Landscape:

The Switchgear Monitoring Market report encompasses a diverse customer landscape, including utility companies, industrial facilities, commercial building owners, and power generation companies. Understanding their specific requirements and operational challenges is essential for market players.

Major Switchgear Monitoring Market Companies:

Companies in the switchgear monitoring market are continuously innovating to develop advanced monitoring solutions and expand their market presence.

Example companies include:

  1. ABB Group: ABB offers a range of switchgear monitoring solutions for utilities and industries, enabling real-time monitoring, diagnostics, and control of switchgear systems.
  2. Siemens AG: Siemens provides comprehensive switchgear monitoring solutions, including GIS and AIS monitoring, to enhance grid management and reliability.
  3. Eaton Corporation: Eaton offers advanced monitoring and control solutions for switchgear systems in industrial and commercial applications, focusing on energy efficiency and reliability.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

  • Schneider Electric SE
  • General Electric Company
  • Mitsubishi Electric Corporation
  • Larsen & Toubro Limited
  • Hitachi, Ltd.
  • Toshiba Corporation
  • Fuji Electric Co., Ltd.
  • NR Electric Co., Ltd.
  • Echelon Corporation
  • Powell Industries, Inc.
  • Tavrida Electric AG
  • Meidensha Corporation
  • Elia Group
  • NKT A/S
  • Crompton Greaves Limited
  • Chint Group
  • G&W Electric Company
  • EFACEC Energia, Máquinas e Equipamentos Eléctricos, S.A.
  • Beckwith Electric Co., Inc.

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on their product offerings and market share.

Segment Overview:

The Switchgear Monitoring Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032):
    • Utilities
    • Industrial
    • Commercial
  • Type Outlook (USD Million, 2019 - 2032):
    • GIS (Gas-insulated Switchgear)
    • AIS (Air-insulated Switchgear)
    • Hybrid
  • Geography Outlook (USD Million, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • Rest of Asia-Pacific
    • Middle East & Africa
      • United Arab Emirates
      • Saudi Arabia
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America

TABLE OF CONTENTS: GLOBAL SWITCHGEAR MONITORING MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. SWITCHGEAR MONITORING MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Switchgear Monitoring Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. SWITCHGEAR MONITORING MARKET BY Type INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. GIS

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. AIS

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. SWITCHGEAR MONITORING MARKET BY Voltage INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. High

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Medium

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. SWITCHGEAR MONITORING MARKET REGIONAL OUTLOOK

7.1. Switchgear Monitoring Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Switchgear Monitoring Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Switchgear Monitoring Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Switchgear Monitoring Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Switchgear Monitoring Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Switchgear Monitoring Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. ABB (Switzerland)

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2. Eaton (Ireland)

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3. Schneider Electric (France)

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4. Siemens (Germany)

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5. Emerson (US)

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6. Fortive (France)

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7. Mitsubishi Electric Corporation (Japan)

    9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8. Senseor (France)

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9. Trafag AG (Switzerland)

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10. KONCAR-Electrical Engineering Institute, Inc. (Croatia)

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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