According to a recent FMI report, the DC switchgear market is expected to grow at a 6% CAGR over the forecast period. The region’s dominance in the global market is the result of several governments in this region implementing innovative grid programmes and massive investments in modernising electricity transmission and distribution networks.
DC switchgear statistics point to Asia Pacific as the region’s market size is expected to grow significantly over the forecast period. The Asia Pacific DC switchgear market is now growing at the fastest rate, owing to a variety of factors such as increased peak load demand, the expansion of micro-grid networks, and concerns about grid stability and supply security.
The growing preference for energy-efficient distribution networks, as well as increased concerns about transmission network stability, security, and reliability, are expected to drive growth in the DC switchgear industry. Growing investments in renewable energy have the potential to create lucrative DC switchgear market opportunities over the forecasted period.
Request A Sample PDF @
https://www.futuremarketinsights.com/reports/sample/rep-gb-14262
Key Takeaways:
• Contribution of railway segment is projected to be the most during the forecast period.
• Sales of DC switchgear with a capacity of 750 V is anticipated to remain the highest, as end users seek high efficiency.
• The DC switchgear market sizein the United States is expected to grow by more than 5% by 2025. The same can be attributed to government initiatives to replace and upgrade existing distribution networks.
• By installation, the outdoor installation segment is expected to have a large DC switchgear market sharedue to its ability to withstand harsh climatic conditions while also providing reliable and cost-effective operations.
“Asia Pacific is anticipated to have a major share of the global switchgear market, owing to increased investments in the railway sector and the incorporation of renewable energy sources, particularly in countries like Australia, India, China, and Japan. The presence of a large potential for large industrial plant construction, combined with rapidly developing residential and commercial sectors, is also expected to increase the demand for DC switchgears and contribute to regional growth.” opines an FMI analyst.
Competitive Landscape:
A few key players in the DC switchgear market are Toshiba Infrastructure Systems & Solutions Corporation (Japan), Siemens (Germany), Hitachi Energy Ltd. (Japan), ABB (Switzerland) and Eaton (Ireland), L & T (India), Lucy Electric (UK), Hubbell Incorporated (United States).
DC switchgear companies use different strategies to acquire a high share in the DC switchgear market. Some of the key strategies in DC switchgear market include contracts and agreements, investments and expansions, partnerships, collaborations, alliances, and joint ventures.
Before Buying, Visit for Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-14262
Global DC Switchgear Market by Category
By Component Type:
- Power Distributor Switch Breaker
- Switch Disconnector
- MCCB
- MCB
- HRC Fuse
- Earth Fuse
By Voltage Range:
- Up to 750V
- 750V to 1800V
- 1800V to 3000V
- 3000V to 10,000V
- Above 10kV
By Insulation Type:
- Air Insulated
- Gas Insulated
- Oil Insulated
- Vacuum Insulated
- Solid Insulated
By Deployment Type:
- Fixed Mounting
- Plug-In
- Withdrawable Units
By Application:
- Railways
- Solar Farms
- Battery Storage
- EV Charging Infrastructure
- Marine
- Power Generation and Distribution
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- The Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights, Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com