Global DC Switchgear Market Report 2022: Adoption of High Voltage Direct Current (HVDC) Technology Presents Opportunities

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Global DC Switchgear Market

Global DC Switchgear Market
Global DC Switchgear Market

Dublin, Dec. 01, 2022 (GLOBE NEWSWIRE) -- The "Global DC Switchgear Market by Voltage, Deployment Type, Application, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global DC switchgear market is projected to reach USD 14.8 billion by 2026 from an estimated market size of USD 11.0 billion in 2021, at a CAGR of 6.1% during the forecast period. The factors driving the growth for DC switchgear are the growing demand for renewable power generation and increasing investment in the upgradation and modernization of the railway sector.

Up to 750 V segment dominates the global market

The DC switchgear market, by voltage, is segmented into up to 750 V, 750 V to 1,800 V, 1,800 V to 3,000 V, 3,000 V to 10 kV and above 10 kV. The up to 750 V segment is expected to be the largest segment in the DC switchgear market, by voltage, during the forecast period. The high-cost efficiency associated with 750 V DC power supply systems is expected to fuel the growth of the up to 750 V segment of the DC switchgear market.

Railways segment to lead the global DC switchgear market

The DC switchgear market, by application, is segmented into railways, solar farms, battery storage, EV charging infrastructure, marine, power generation and others. The railways segment is expected to hold the largest size of the market for DC switchgears. The developments in the suburban railway network, expansion and modernization of heavy rail network, and upgrade of existing metro lines across the world are expected to fuel the growth of the railways segment in the DC switchgear market.

Asia Pacific dominates the global DC switchgear market in terms of annual growth rate

The Asia Pacific region is estimated to be the largest market for the DC switchgear, followed by North America. The Asia Pacific region is also projected to be the fastest-growing market during the forecast period. Asia Pacific is expected to dominate the market due to the growing investments in the railways sector and integration of renewable energy sources, especially in countries such as China, India, Japan and Australia.

Market Dynamics

Drivers

  • Increasing Investments in Upgrade of Transmission and Distribution Networks

  • Growth in Renewable Power Generation

  • Increasing Demand for Reliable and Secure Power Supply Worldwide

Restraints

  • Impact of Environmental Conditions on Performance of DC Switchgears

  • Increase in Competition from Unorganized Sector

Opportunities

  • Introduction of Performance-Based Incentive Schemes and Definite Service Programs for Distributors in Multiple Countries

  • Adoption of High Voltage Direct Current (HVDC) Technology

Challenges

  • Cybersecurity Issues


Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Dc Switchgear Market, by Voltage

7 Dc Switchgear Market, by Deployment Type

8 Dc Switchgear Market, by Application

9 Dc Switchgear Market, by Region

10 Competitive Landscape

11 Company Profiles

12 Appendix

Companies Mentioned

  • ABB

  • Brush Group

  • Daqo Group

  • Eaton

  • Entec Electric & Electronic

  • General Electric

  • Grimard

  • Hitachi Energy Ltd.

  • KDM Steel

  • L&T Electrical & Automation

  • LS Electric Co. Ltd.

  • Meidensha Corporation

  • Myers Power Products, Inc.

  • Ningbo Tianan (Group) Co. Ltd.

  • Pluton Rail Pty. Ltd.

  • Powell Industries

  • Schneider Electric

  • Secheron

  • Siemens

  • Toshiba Infrastructure Systems & Solutions Corporation

For more information about this report visit https://www.researchandmarkets.com/r/1tdsmm

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