The global hybrid switchgear
market is expected to register a CAGR of ~14.05% during the forecast period. The hybrid switchgear has been in use since the late 1990s with the introduction
of two major technologies, namely AIS and SF6. These switchgears integrate the
components of both traditional SF6 gas-insulated switchgear and air-insulated
switchgear (AIS) technologies. The SF6 technology is used for arc quenching
purpose, while air-insulation technology is adopted for busbars to be connected
to other equipment present in a high voltage substation. The key advantages of
hybrid switchgears include easy extension, less equipment cost, compact size,
and combined features of air-insulated switchgear and gas-insulated switchgear.
Industry Segmentation
The global hybrid switchgear market has been segmented
on the basis of application, installation, voltage, and region.
On the basis of application, the hybrid switchgear
market has been divided into infrastructure, transportation, industrial, and
others. The industrial segment is expected to dominate the market during the
forecast period owing to a focus on renewable energy resources in industries.
Based on installation, the market has been bifurcated
into onshore and offshore. The onshore segment is expected to dominate the
market as the installation process for hybrid switchgears is comparatively easy
in onshore environments. However, the offshore segment is expected to register
a higher growth rate due to space constraints while installing hybrid
switchgear onshore. By voltage, the market has been characterized as up to 72.5
kV, 72.5–245 kV, and 245–550 kV. The
72.5––245 kV segment is expected to dominate the market owing to the increasing
use of hybrid switchgears in medium voltage applications within industries
including power generation, manufacturing and process, and transportation.
Key Players
The key players in the global hybrid switchgear market
are ABB (Switzerland), GE (US), Mitsubishi Electric (Japan), Siemens (Germany),
Toshiba Corporation (Japan), Skipperseil (India), TGOOD
(Colombia), Schneider Electric (France), Hitachi (Japan), CG (India),
L&T (India), Chint (China), Hyosung (South Korea), Taikai Power
Engineering (China), and Capchem Electricals Pvt. Ltd (India).
Regional Outlook
On the basis of region, the
global hybrid switchgear market has been segmented into Asia-Pacific, North
America, Europe, the Middle East & Africa, and South America.
The growth of the hybrid
switchgear market in Asia-Pacific is driven by key factors such as increasing
participation by the private sector in transmission and distribution, resulting
in infrastructure development in the emerging economies of Australia, China,
Thailand, and India. Moreover, market players such as ABB and GE have signed
key contracts with governments in the region in order to strengthen the
efficiency and reliability of transmission and distribution networks.
Furthermore, factors such as government mandates on energy efficiency,
increased power consumption, rising influx of renewable resources in the energy
mix, and upgradation of aging hydropower plants are driving the growth of the global
hybrid switchgear market.
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