Global Switchgear Monitoring System Market Outlook to 2023 - Schneider Electric, Siemens, ABB, General Electric and Emerson are Leading

Wednesday, 20. March 2019 11:42

Dublin, March 20, 2019 (GLOBE NEWSWIRE) -- The "Switchgear Monitoring System Market by Switchgear Type, Component, End-User, Voltage, Monitoring Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The switchgear monitoring system market is projected to reach USD 2 billion by 2023 from an estimated USD 1.4 billion in 2018, at a CAGR of 7.83%.

Growing investments in renewable energy and demand for safe and secure electrical distribution systems have increased the demand for switchgear monitoring system. However, high cost of monitoring devices and stringent regulations for SF6 switchgears could act as a restraint for the market.

The gas insulated switchgear segment is expected to be the fastest growing market from 2018 to 2023

The gas insulated switchgear (GIS) segment is expected to hold the largest market share in 2018 and is projected to be the fastest growing segment during the forecast period. They are mainly used in industrial areas to fulfill high-energy demands through a space-saving design of minimum cost. GISs are deployed in various industries, serving different needs at varying voltage levels. Many developed countries have also started improving their T&D network to ensure safety and security with the help of switchgear monitoring system.

The hardware segment by component is expected to be the largest market from 2018 to 2023

The hardware segment is expected to hold the largest market share during the forecast period because these devices can be controlled or automated from the control room by the control system/software, and are essential in monitoring operations. Asia Pacific is expected to hold the largest market for hardware with rapid adoption in countries such as China and India.

Rapid expansion of power plants and transmission lines to meet the growing electricity requirements is expected to drive the utilities segment market between 2018 and 2023

The utilities segment, by end-user, held the largest market share in 2018 and is estimated to be the fastest growing segment during the forecast period because the utilities segment is responsible for the generation, transmission, and distribution of electricity. Electric utilities include investor-owned and publicly-owned cooperatives and nationalized entities, which are the major providers of electricity in most of the countries, worldwide.

Europe: The second fastest growing market for switchgear monitoring system

The European region is expected to be the second fastest growing market for switchgear monitoring system by 2023. The European power generation, transmission, and distribution systems are comparatively mature. Therefore, the EU is focusing on upgrading its aging infrastructure, integrating renewable energy sources such as solar and wind power, and building interconnections to enable more efficient power and energy trading. This would also require replacement of switchgear from electromechanical to digital by installing switchgear monitoring system.

The switchgear monitoring system market is dominated by a few major players that have a wide regional presence. The leading players in switchgear monitoring system market are Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Emerson (US).

Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitation
1.7 Stakeholders

2 Research Methodology
2.1 Market Size Estimation
2.2 Some of the Insights of Industry Experts

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Switchgear Monitoring System Market During the Forecast Period
4.2 Switchgear Monitoring System Market, By Region
4.3 Asia Pacific Switchgear Monitoring System Market, By Monitoring Type & Country
4.4 Switchgear Monitoring System Market, By Switchgear Type
4.5 Switchgear Monitoring System Market, By End-User
4.6 Switchgear Monitoring System Market, By Component
4.7 Switchgear Monitoring System Market, By Voltage

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Demand for Safe & Secure Electrical Distribution Systems
5.2.1.2 Demand for Continuous Monitoring of Switchgears
5.2.1.3 Revival of Investments in the Construction Sector
5.2.1.4 Growing Investments in Renewable Energy
5.2.2 Restraints
5.2.2.1 High Cost of Monitoring Devices
5.2.2.2 Stringent Environmental and Safety Regulations for Sf6 Switchgears
5.2.3 Opportunities
5.2.3.1 Growth of Data Centers
5.2.3.2 Execution of Performance-Based Incentive Schemes and Definite Service Programs
5.2.3.3 HVDC Transmission
5.2.3.4 Aging Power Infrastructure
5.2.4 Challenges
5.2.4.1 Cybersecurity
5.2.4.2 Delays in Grid Expansion Projects

6 Switchgear Monitoring System, By Type
6.1 Introduction
6.2 GIS
6.3 AIS

7 Switchgear Monitoring System Market, By Component
7.1 Introduction
7.2 Hardware
7.3 Software & Services

8 Switchgear Monitoring System Market, By End-User
8.1 Introduction
8.2 Utilities
8.3 Industries
8.4 Commercial
8.5 Others

9 Switchgear Monitoring System, By Voltage
9.1 Introduction
9.2 High Voltage
9.3 Medium Voltage

10 Switchgear Monitoring System Market, By Monitoring Type
10.1 Introduction
10.2 Temperature Monitoring
10.3 Partial Discharge Monitoring
10.4 Others

11 Switchgear Monitoring System Market, By Region
11.1 Introduction
11.2 Asia Pacific
11.3 North America
11.4 Europe
11.5 Middle East & Africa
11.6 South America

12 Competitive Landscape
12.1 Overview
12.2 Market Share Analysis
12.3 Competitive Scenario

13 Company Profile
13.1 Schneider Electric
13.2 General Electric
13.3 ABB
13.4 Siemens AG
13.5 Eaton
13.6 Emerson
13.7 Koncar - Electrical Engineering Institute Inc.
13.8 Tiara Vibrasindo Pratama
13.9 TrafAG
13.10 Senseor
13.11 Fortive
13.12 Independent Power Engineering Consultants
13.13 Mitsubishi Electric Corporation

For more information about this report visit https://www.researchandmarkets.com/research/zb7356/global_switchgear?w=12

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Related Topics: Industrial Automation , Electrical Switches 

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