DC Switchgear Market- Global Industry Analysis and Forecast (2022-2029)

DC Switchgear Market was valued at US$ 9.70 Bn. in 2021. Global DC Switchgear Market size is expected to grow at a CAGR of 6.1 % through the forecast period.
DC Switchgear Market Overview:
Dc switchgear is intended to shield have DC high-powered railway line and integrated it with high-speed circuit Breakers for the rectifier, the facility feeder, and therefore the backup application to forestall safety incidents. Switchgear in substations is found on each of the high and low voltage sides of enormous power transformers. The switchgear on the low voltage facet of the transformers could also be set within the building with medium voltage circuit breakers for distribution circuits, besides metering dominant and protection instrumentation. A switchgear assembly has 2 varieties of elements, first is power-conducting elements like switches, circuit breakers, fuses, and lighting arrestors, and the second is management systems like management panel current transformers, protecting relays, and associated electronic equipment. Growing investment in the renewable energy and increased demand for safe and secure electrical distribution systems area units are expected to come up with the rise.

To know about the Research Methodology :- Request Free Sample Report
DC Switchgear Market Dynamics:
Covid-19 Impact on DC Switchgear: The outbreak of the COVID 19 pandemic had a negative impact on the global economy as the government was forced to adopt blockade measures to prevent the spread of the virus. The impact of the COVID 19 pandemic has led to a significant and rapid decline in energy demand, including actions taken by businesses and governments to contain the virus epidemic. This resulted in a considerable decline in transportation and related activities, which further impacted the energy demand. These events together had caused major distributions in the corresponding activities by market players, consequently hindering the demand for DC switchgear.

The drivers for the DC Switchgear market are:

With an increased demand for safe power supply: To ensure the safety of distribution systems in the United States, the power industry has developed voluntary standards to ensure the coordination of various distribution systems. Today, there are essential reliability standards for operating power systems and addressing critical electrical infrastructure safety concerns. For instance, in North America, the North American Electric Reliability Corporation and its member organizations develop and enforce these standards, which are approved by the Federal Energy Regulatory Commission of the United States and the Canadian regulator of Canada. Governments in developing countries are investing in increasing electrification rates by providing access to electricity in remote villages. According to the International Energy Agency (IEA), an additional 1.7 billion people are expected to have access to electricity by 2030, and the number of people without electricity is expected to drop to less than 1 billion by 2030. This is the population of the world.

Increased engagement of smart grid networks: The market for DC switchgear in substation applications is forecasted by ongoing R & D activities to integrate innovative technologies to enhance the capabilities of key participants and improve management and smart operations. Gain momentum inside. Continued adoption of microgrid equipment and green energy sources to integrate renewable energy into large-scale power generation through improved power system monitoring will further support the industry's growth.

Market Opportunities: Increased use of high voltage Direct current technology and growing environmental concerns are forcing governments to invest in renewable energy. Renewable energy power generation such as solar, wind (onshore and offshore), biomass, hydropower and geothermal power is located in remote areas. To connect these remote power sources and minimize transmission losses, companies are deploying HVDC systems. HVDC transmission is considered efficient for long-distance transmission. The integration of renewable energy sources and HVDC links tends to grow in new or under-developed projects. They require continuous and continuous monitoring of the entire system to ensure minimal loss and protection from disturbances. HVDC converter stations require switchgear for efficient operation. Therefore, the dc switchgear market will witness growth.

Challenges for the DC switchgear market: The installation of modernized DC switchgear presents many challenges, including strict environmental conditions, strict regulations, and technical aspects that threaten the economies of all countries. While smart devices support the optimal functionality of any power system, they can pose a security threat due to antisocial factors. Bypassing security with remote access can lead to data theft and security breaches, which can lead to power outages and power outages. Multilayer cybersecurity is necessary to ensure the security of the substations of which DC switchgear is a part.
DC Switchgear Market Segment Analysis:
Based on Voltage Type: the DC Switchgear Market is segmented into Up to 750V, 750V to 1800V, 1800V to 3000V, and 3000V to 10kV. The segment, up to 750 V is expected to be the largest segment in the DC switchgear market in terms of voltage during the forecast period. The high-cost efficiency associated with 750V DC power systems is expected to drive the growth of up to 750V segments in the DC switchgear market.

Based on deployment type: the DC switchgear market is divided into fixed, plug-in, and pullable units. The fixed mount segment is expected to occupy the largest market share of DC switchgear during the forecast period. The high-cost efficiency, low failure rate, and extraordinary factor of safety of fixed DC switchgear are expected to further improve acceptance rates.

Based on the Application, The DC Switchgear Market is segmented into railways, solar farms, battery storage, EV charging infrastructure, and power generation. The railway segment is expected to hold the largest size of the market for PC switch cases. The developments in the suburban railway networks, expansion and modernization of heavy rail networks, and upgrade of existing metro lines across the world are expected to fuel the growth of the railway segment in the DC switchgear market. Followed by the power generation segment as energy demand is increasing day by day which leads to an increase in the rise of the DC switchgear market.

Recent Market Developments:

In December 2021 Toshiba infrastructure system and Solution Corporation has been contracted by Busan Transportation Corporation for the provision of electrical equipment for railway traction in Korea. The scope of products to be supplied by the company includes permanent magnet synchronous motors and other electric equipment

Schneider Electric introduces (MAY 2022) GM AirSeT ™, the latest member of the growing family of SF6 free medium voltage switchgear. State-of-the-art green and digital clean air solutions enable industry and utilities to reduce environmental impact and streamline maintenance and operations. The upcoming technologies and trends will help the rise of the DC switchgear market.
DC Switchgear Market Regional Insights:
The Asia Pacific region dominated the market with a 33 % share in 2021. The region is estimated to be the largest market for DC switchgear, followed by the North America Pacific region is also expected to be the fastest-growing market during the forecast period. The Asia Pacific is expected to dominate the market due to growing investments in the railways’ sector and integration of renewable energy sources, especially in countries such as China Japan India and Australia.

The objective of the report is to present a comprehensive analysis of the global DC Switchgear Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the DC Switchgear Market dynamic, and structure by analyzing the market segments and projecting the DC Switchgear Market size. Clear representation of competitive analysis of key players by voltage type, price, financial position, product portfolio, growth strategies, and regional presence in the DC Switchgear Market make the report investor’s guide.
DC Switchgear Market Scope: Inquiry Before Buying



DC Switchgear Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 9.7 Bn.


Forecast Period 2022 to 2029 CAGR:
6.1%
Market Size in 2029:
US $ 15.57 Bn.


 Segments Covered:
by Voltage Type
• Up to 750 V
• 750 to 1800 V
• 1800 V to 3000 V
• 3000 V to 10kV


by Application
• Railways
• Battery storage
• EV chargers
• Power generation


by Deployment type
• Fixed DC switchgear
• Plugin DC switchgear
• Pullable DC switchgear



DC Switchgear Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
DC Switchgear Market, Key Players are:
• ABB group
• Siemens
• Hitachi energy Ltd
• Toshiba Corp.
• General Electric
• Schneider Electric
• Scheron
• LS electronic CO.
• L&T Electricals
• Myers Power Products
• ENTEC & Electronic
• Ningbo Tianan CO. Ltd
• PLUTON Rail PTY LTD
• KDM Steel
• MEIDENSHA Corp.
• Mass tech controls Ltd
• Flohe GmbH
• ELEKTROBUDOWA SA
• Chint Electric Co. Ltd
• Schaltbau GmbH

Frequently Asked Questions:

1] What segments are covered in the Global DC Switchgear Market report?
Ans. The segments covered in the DC Switchgear Market report are based on Voltage Type, Application and deployment type.

2] Which region is expected to hold the highest share in the Global DC Switchgear Market?
Ans. The Asia Pacific region is expected to hold the highest share in the DC Switchgear Market.

3] What is the market size of the Global DC Switchgear Market by 2029?
Ans. The market size of the DC Switchgear Market by 2029 is expected to reach US$ 15.57 Bn.

4] What is the forecast period for the Global DC Switchgear Market?
Ans. The forecast period for the DC Switchgear Market is 2021-2029.

5] What was the market size of the Global DC Switchgear Market in 2021?
Ans. The market size of the DC Switchgear Market in 2021 was valued at US$ 9.70 Bn.