According to Market Study Report, Switchgear Monitoring System Market provides a comprehensive analysis of the Switchgear Monitoring System Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry.
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The Global Switchgear Monitoring System Market size is projected to grow from an estimated USD 1.3 Billion in 2020 to USD 2.1 Billion by 2025, at a CAGR of 9.7% from 2020 to 2025. This report spread across 199 Pages, Profiling 20 Companies and Supported with 109 Tables and 51 figures are now available in this research.
Top Key Players Profiled in the Switchgear Monitoring System Market:
- ABB (Switzerland)
- Schneider Electric (France)
- Siemens (Germany)
- General Electric (US)
- Eaton (Ireland)
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Gas-insulated switchgear are generally high-voltage switchgear with a rating above 36 kV. They are mostly used where space is a constraint and are the most reliable types of switchgear. The growth of GIS segment is driven by increasing investments in renewable energy resulting in the demand for the upgrade of the existing substations or the installation of new ones are expected to drive the market for GIS.
Asia Pacific is the fastest-growing market for switchgear monitoring system, followed by Europe, and North America. The growth of this region is driven by increasing T&D network expansion and industrialization projects in countries such as China, Japan, and South Korea. For instance, The State Grid Corporation of China (SGCC) plans to invest USD 250 billion in electric power infrastructure upgrade, out of which USD 45 billion are planned to be invested in smart grids between 2018 and 2020.
Breakdown of primary participants’ profile:
By Company Type: Tier 1- 59%, Tier 2- 26%, Tier 3- 15%
By Designation: C-Level- 62%, D-Level- 20%, Others- 18%
By Region: North America- 20%, Europe- 25%, Asia Pacific- 30%, Middle East & Africa- 15%, , and South America- 10%