The switchgear is a part of an electrical system,
which is the combination of electrical disconnect switches, fuses, circuit
breaker, and others, to protect and isolate electrical equipment. The
monitoring system for switchgear helps check the effectiveness of the closed
circuit and the reliability of the electrical system. The switchgear monitoring
system helps improve the efficiency of the power plant by effective
maintenance.
The global switchgear monitoring market is estimated
to progress at 7.86% CAGR during the forecast period.
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Leading
Players
The key players of the global switchgear monitoring
market are Senseor (France), Fortive (France), ABB (Switzerland), Mitsubishi
Electric Corporation (Japan), Eaton (Ireland), Trafag AG (Switzerland),
Schneider Electric (France), Siemens (Germany), Emerson (US), KONCAR-Electrical
Engineering Institute, Inc. (Croatia), and Siemens (Germany).
Segmental
Analysis
On the basis of voltage, the global market has been
segmented into medium voltage, and high voltage. The high voltage segment is
the larger segment in the market due to the construction of transmission &
distribution (T&D) networks and the high voltage switchgears are primarily
used in power transmission over long distances. The end users of high voltage
switchgear monitoring are utilities, transmission networks, and heavy
industries.
On the basis of type, the global market is segmented
into gas insulated switchgear (GIS) and air insulated switchgear (AIS). The GIS
segment is expected to dominate the switchgear monitoring market, owing to
rising demand in industrial areas to fulfil high energy demands, with power
need at varying voltage levels. On the basis of end-use, the global market is
segmented into utilities, industrial, commercial, and others. The utilities
segment is expected to dominate the switchgear monitoring market during the
forecast period. Utilities are responsible for the generation, transmission,
and distribution of electricity.
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Regional
Outlook
On the basis of region, the global switchgear
monitoring market has been segmented into Asia-Pacific, North America, Europe,
the Middle East & Africa, and South America.
Asia-Pacific dominated the switchgear monitoring
market in 2018 and is estimated to be the fastest growing region. The growth of
the switchgear monitoring market in Asia-Pacific is driven by many factors
including the rise in investments in T&D, resulting in power infrastructure
development in the emerging economies of Australia, China, Thailand, and India.
Moreover, market players such as ABB, Emerson, and Schneider Electric have
signed contracts with industries to provide switchgear monitoring and necessary
services. Furthermore, the rising expansion of power plants and development of
smart grids are other factors driving the growth of switchgear monitoring
market, globally.
Scope
of the Report
This research report provides insights into various levels
of analysis, such as industry analysis and market share analysis for the
leading industry competitors, along with their profiles. It also helps in
studying the target segments by providing views on the emerging &
high-growth segments. The market data comprises the basic assessment of the
competitive scenarios and strategies in the global switchgear monitoring
market, including high-growth regions and/or countries, and political and
economic environments. The project report further provides both – historical
market values and pricing & cost analysis
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