The global Hybrid Switchgear market was valued at US$ 10560 million in 2020 and it is expected to reach US$ 22440 million by the end of 2027, growing at a CAGR of 11.2% during 2021-2027.
Switchgears are segmented as per the arc-quenching medium that is used within the equipment. Various types of arc-quenching medium include air, SF6 gas, and oil. With the emergence of hybrid switchgear technology in the late 1990s, the equipment incorporated two different technologies in its operation. One was the use of gas for arc quenching purpose, while air-insulation technology was adopted for bus bars to be connected to other equipment present in a high-voltage sub-station. The target is to maximize the advantages of these two existing technologies and enhance the overall operation and performance of the equipment and the connected components within the grid network.
The benefits such as enhanced substation performance and space savings are primary growth factors for this market. Substations play a major role in catering to the demands of the end-user. The majority of existing substations have functioned beyond their operational lives and the replacement of the conventional air-insulated switchgear (AIS) components such as disconnectors and circuit-breakers is not economical. This will lead to the development of innovative switchgears with the functions of gas insulated substation (GIS) and integrated with dead tank circuit breakers. Moreover, the increased adoption of the plug and switch system (PASS) that is driven by the privatization of the electric power industry across the globe, will also fuel the growth of the market.
Global Hybrid Switchgear Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Hybrid Switchgear Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are ABB, GE, Mitsubishi Electric, Siemens, Toshiba, Tgood, Shandong Taikai Power Engineering, Ningbo Tianan and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Find more details at: https://www.themarketreports.com/report/global-hybrid-switchgear-market-outlook
Segment by Type
- Below 70 KV
- 70 KV-250KV
- Above 250KV
Segment by Application
- Commercial
- Industrial
- Others
Table of Content:
1 Hybrid Switchgear Market Overview
2 Hybrid Switchgear Market Competition by Manufacturers
3 Hybrid Switchgear Retrospective Market Scenario by Region
4 Global Hybrid Switchgear Historic Market Analysis by Type
5 Global Hybrid Switchgear Historic Market Analysis by Application
6 Key Companies Profiled
7 Hybrid Switchgear Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Hybrid Switchgear Market Dynamics
10 Global Hybrid Switchgear Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
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Peter Barzilai is a high school pitcher and college rower turned longtime World News journalist. Peter has also written for Buzz Feed and Huffington Post and many other major publications, Peter Loves everything about sports and loves to write on trending topics and he is DailyFactsNTrends member since 2017.