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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