This study encompassed significant efforts in determining the present size of the switchgear market. It commenced with a thorough secondary research process to gather data related to the market, similar markets, and the overarching industry. Subsequently, these findings, assumptions, and market size calculations were rigorously validated by consulting industry experts across the entire value chain through primary research. The total market size was assessed by conducting an analysis specific to each country. Following that, the market was further dissected, and the data was cross-referenced to estimate the size of various segments and sub-segments within the market.
Secondary Research
In this research study, a wide range of secondary sources were utilized, including directories, databases, and reputable references such as Hoover's, Bloomberg BusinessWeek, Factiva, World Bank, the US Department of Energy (DOE), and the International Energy Agency (IEA). These sources played a crucial role in gathering valuable data for a comprehensive analysis of the global switchgear market, covering technical, market-oriented, and commercial aspects. Additional secondary sources included annual reports, press releases, investor presentations, whitepapers, authoritative publications, articles authored by well-respected experts, information from industry associations, trade directories, and various database resources.
Primary Research
The switchgear market involves a range of stakeholders, including component manufacturers, product manufacturers/assemblers, service providers, distributors, and end-users within the supply chain. The demand for this market is primarily driven by industrial end-users. Additionally, the increasing demand from transmission and distribution utilities contributes to market growth. On the supply side, there is a notable trend of heightened demand for contracts from the industrial sector and a significant presence of mergers and acquisitions among major players.
To gather qualitative and quantitative insights, various primary sources from both the supply and demand sides of the market were interviewed. The following breakdown presents the primary respondents involved in the research study.
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Market Size Estimation
The estimation and validation of the switchgear market size have been conducted using a bottom-up approach. This approach was rigorously employed to ascertain the dimensions of multiple subsegments within the market. The research process comprises the following key stages.
In this method, the production statistics for each type of switchgear have been examined at both the country and regional levels.
Thorough secondary and primary research has been conducted to gain a comprehensive understanding of the global market landscape for various categories of switchgears.
Numerous primary interviews have been undertaken with key experts in the field of switchgear system development, encompassing important OEMs and Tier I suppliers.
When calculating and forecasting the market size, qualitative factors such as market drivers, limitations, opportunities, and challenges have been taken into account.
Global Switchgear Market Size: Bottom-Up Approach
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Data Triangulation
The process of determining the overall market size involved the methodologies described earlier, followed by segmenting the market into multiple segments and subsegments. To finalize the comprehensive market analysis and obtain precise statistics for each market segment and subsegment, data triangulation and market segmentation techniques were applied, as appropriate. Data triangulation was accomplished by examining various factors and trends from both the demand and supply perspectives within the ecosystem of the switchgear market.
Market Definition
Switchgear devices function akin to switches, managing the flow of normal load current. They also play a critical role in clearing fault currents. Sensing devices like current transformers, potential transformers, and various types of relays are employed based on the application to detect and respond to faults. Additionally, these systems incorporate provisions for metering, control, and data gathering, employing a diverse array of devices to fulfil their switching functions.
These systems directly interface with supply systems, strategically positioned in both high- and low-voltage sides of power transformers. Their primary functions encompass de-energizing equipment for testing and maintenance, as well as responding to faults in the power system. In the event of a fault, switchgear devices, particularly automatic protective ones, come into play. This involves relays and circuit breakers; the relay identifies the faulty section and activates the circuit to trip the breaker, isolating the defective segment. The unaffected sections continue normal operation, preventing damage and ensuring uninterrupted power supply.
The market encompasses a wide range of stakeholders, from component manufacturers and product assemblers to service providers and end-users and is influenced by factors such as development of power distribution infrastructure, rapid growth in renewable energy-based capacity, likewise.
Key Stakeholders
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Government Utility Providers
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Independent Power Producers
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Switchgear manufacturers
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Power equipment and garden tool manufacturers
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Consulting companies in the energy & power sector
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Distribution utilities
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Government and research organizations
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Organizations, forums, and associations
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Raw material suppliers
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State and national regulatory authorities
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Switchgear manufacturers, distributors, and suppliers
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Switchgear and circuit breaker original equipment manufacturers (OEMs)
Objectives of the Study
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The switchgear market will be defined, described, segmented, and forecasted based on installation, insulation, voltage, current, and end-user.
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To forecast market size for five key regions: North America, South America, Europe, Asia Pacific, and the Middle East and Africa, as well as the key countries within each region.
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To provide comprehensive information about market growth drivers, restraints, opportunities, and industry-specific challenges.
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To strategically analyze the subsegments in terms of individual growth trends, prospects, and contributions to overall market size.
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To examine market opportunities for stakeholders and the competitive landscape for market leaders.
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To profile the key players strategically and thoroughly analyze their market shares and core competencies.
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To monitor and analyze competitive developments in the switchgear market, such as agreements, sales contracts, partnerships, new product launches, acquisitions, joint ventures, contracts, expansions, and investments.
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This report examines the value of the switchgear market.
Available Customization
With the given market data, MarketsandMarkets offers customizations based on the company’s specific needs. The following customization options are available for the report:
Product Analysis
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Product Matrix, which provides a detailed comparison of the product portfolio of each company
Company Information
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Detailed analyses and profiling of additional market players (up to 5)
Linda
Jun, 2022
We want a Scorecard for Competitors in the switchgear Market projected forecast should be 2022 to 2030..