Market Highlights

Hybrid Switchgear Market is projected to be worth USD 37.53 billion by 2027, registering a CAGR of 16.89% CAGR during the forecast period (2021 - 2027)

A Hybrid Switchgear Market is a combination of components including circuit breaker, earthing switches, and other auxiliary devices that are located in a common gas tank. Some hybrid switchgears are well suited for heavily polluted environments and are highly preferred in areas prone to seismic activity. Its compact design, with low center of gravity, is ideal for withstanding seismic acceleration, as proven by shaking table tests and finite elements method simulations. These unique features of hybrid switchgears will help in the growth of the hybrid switchgear industry.

GLOBAL HYBRID SWITCHGEAR MARKET, 2019-–2024

Asia-Pacific held the largest share of the global hybrid switchgear market in 2018.

The global hybrid switchgear market has been segmented into regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.

Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/7924

The market in Asia-Pacific held the largest share of the global hybrid switchgear market in 2018, mainly due to increasing investments in transmission and distribution, rising energy demand, and limitations of space. The market in the region is also expected to be the fastest-growing during the forecast period. Moreover, factors such as increased power consumption, government mandates on energy efficiency, rising influx of renewable resources in the energy mix, and upgradation of aging hydropower plants are driving the market growth.  Within Asia-Pacific, China is likely to hold the largest share during the forecast period owing to increasing expenditure on transmission and distribution networks and increasing manufacturing facilities in the region. The market in North America is expected to be the second-largest owing to increasing demand for energy and modernization of infrastructure. The US will dominate the North American market during the forecast period.

The market in Europe is also expected to grow at a significant rate owing to many advanced technologies being introduced by some key players in Europe. Germany is expected to dominate the European market due to the introduction of new hybrid switchgear projects, especially designed for railway transmission system.

Similarly, Saudi Arabia and Brazil are the two economies which are expected to dominate the markets in the Middle East & Africa and South America, respectively.

In addition to regions, the global hybrid switchgear market has been segmented based on voltage, application, and installation.

Based on voltage, the market has been divided into into up to 72.5 kV, 72.5–245 kV, and 245–550 kV. In 2018, the 72.5–245 kV segment dominated the market owing to the increasing use of these hybrid switchgears in applications such as integration of renewable power to the grid, facilitating remote mining connections, and substation extensions. These modular hybrid switchgears enable customizable solutions in a short manufacturing time.

On the basis of application, the hybrid switchgear market has been classified as infrastructure, transportation, industrial, and others. The industrial segment is expected to dominate the market during the forecast period.

By installation, the market has been segmented into onshore and offshore. The onshore segment is expected to dominate the market during the forecast period.

READ MORE @https://www.openpr.com/news/2096092/hybrid-switchgear-market-2020-insights-current-and-future

Key Players

The key players in the global hybrid switchgear market are ABB (Switzerland), GE (US), Mitsubishi Electric (Japan), Siemens (Germany), Toshiba Corporation (Japan), Skipperseil (NA), TGOOD (Colombia), Schneider Electric (France), Hitachi (Japan), CG (India), L&T (India), Chint (China), Hyosung (South Korea), Taikai Power Engineering (China), and Capchem Electricals Pvt. Ltd (India).

Drivers
  

Scope of the Report

This report provides an in-depth analysis of the global Hybrid Switchgear Market Growth, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and share for North America, Asia-Pacific, Europe, the Middle East & Africa, and South America. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global hybrid switchgear market by voltage, installation, application, and region.  

Buy Now @https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=7924

• By Voltage
  • Up to 72.5 KV
  • 5–245 KV
  • 245–550 KV

• By Installation
  • Onshore
  • Offshor

• By Application
  • Infrastructure
  • Transportation
  • Industrial
  • Others

• By Region
  • Asia-Pacific
  • North America
  • Europe
  • Middle East & Africa
  • South Americ

For More Details On this Report: https://www.marketresearchfuture.com/reports/hybrid-switchgear-market-7924

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact

Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com