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.
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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.
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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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