Hybrid Switchgear Market | Emerging Trends, Competitive Landscape 2024

Posted by Anvi on November 21st, 2019

Global Hybrid Switchgear Market Research Report: Information by Voltage (Up to 72.5 kV, 72.5–245 kV and 245–550 kV), Installation (Onshore and Offshore), Application (Infrastructure, Transportation, Industrial and Others) and Region.

Hybrid Switchgear Market Analysis

The global hybrid switchgear market is expected to register a CAGR of 14.05% during the forecast period. A hybrid switchgear 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.

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The hybrid switchgear has been in use since the late 1990s with the introduction of two major technologies, namely AIS and SF6. These switchgears integrate the components of both traditional SF6 gas-insulated switchgear and air-insulated switchgear (AIS) technologies. The SF6 technology is used for arc quenching purpose, while air-insulation technology is adopted for busbars to be connected to other equipment present in a high voltage substation. The key advantages of hybrid switchgears include easy extension, less equipment cost, compact size, and combined features of air-insulated switchgear and gas-insulated switchgear.     

Industry Segmentation

The global hybrid switchgear market has been segmented on the basis of application, installation, voltage, and region.

On the basis of application, the hybrid switchgear market has been divided into infrastructure, transportation, industrial, and others. The industrial segment is expected to dominate the market during the forecast period owing to a focus on renewable energy resources in industries.

Based on installation, the market has been bifurcated into onshore and offshore. The onshore segment is expected to dominate the market as the installation process for hybrid switchgears is comparatively easy in onshore environments. However, the offshore segment is expected to register a higher growth rate due to space constraints while installing hybrid switchgear onshore. By voltage, the market has been characterized as up to 72.5 kV, 72.5–245 kV, and 245–550 kV.  The 72.5––245 kV segment is expected to dominate the market owing to the increasing use of hybrid switchgears in medium voltage applications within industries including power generation, manufacturing and process, and transportation.

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 (India), 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).

Regional Outlook

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

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 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.

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Joined: October 25th, 2019
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