Global
Hybrid Switchgear Market Research Report: Information by Voltage (Up to
72.5 kV, 72.5–245 kV and 245–550 kV), Installation (Onshore and Offshore),
Application (Infrastructure, Transportation, Industrial and Others) and Region.
Hybrid Switchgear Market Analysis
The global hybrid switchgear
market is expected to register a CAGR of 14.05% during the forecast period. A hybrid
switchgear is a combination of components including circuit breaker, earthing
switches, and other auxiliary devices that are located in a common gas tank.
Some hybrid switchgears are well suited for heavily polluted environments and
are highly preferred in areas prone to seismic activity. Its compact design,
with low center of gravity, is ideal for withstanding seismic acceleration, as
proven by shaking table tests and finite elements method simulations. These
unique features of hybrid switchgears will help in the growth of the hybrid
switchgear industry.
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
The global hybrid switchgear
market has been segmented into regions, namely, Asia-Pacific, North America,
Europe, the Middle East & Africa, and South America.
The market in Asia-Pacific
held the largest share of the global hybrid switchgear market in 2018, mainly
due to increasing investments in transmission and distribution, rising energy
demand, and limitations of space. The market in the region is also expected to
be the fastest growing during the forecast period. Moreover, factors such as
increased power consumption, government mandates on energy efficiency, rising
influx of renewable resources in the energy mix, and upgradation of aging
hydropower plants are driving the market growth. Within Asia-Pacific,
China is likely to hold the largest share during the forecast period owing to
increasing expenditure on transmission and distribution networks and increasing
manufacturing facilities in the region.
The market in Europe is also
expected to grow at a significant rate owing to many advanced technologies
being introduced by some key players in Europe. Germany is expected to dominate
the European market due to the introduction of new hybrid switchgear projects,
especially designed for railway transmission system.
Similarly, Saudi Arabia and
Brazil are the two economies which are expected to dominate the markets in the
Middle East & Africa and South America, respectively.
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