Switchgear Monitoring System Market: Current Analysis and Forecast (2021-2027)

Switchgear Monitoring System Market: Current Analysis and Forecast (2021-2027)

  • UnivDatos Market Insight
  • August 2021
  • Power
  • 172 pages

Report Description

The switchgear monitoring system is a set of equipment used to keep a track of the condition of switchgear and detect any defects in switchgear to prohibit possible failure of switchgear system which may cause unwanted power outages.

It is usually installed to monitor the apparatuses of the air insulated switchgear (AIS) and monitor the gas insulated switchgear (GIS). Some benefits which these systems offer include avoiding unplanned outages, reducing industrial downtimes, reducing repair costs through improved failure detection, improving switchgear availability, cost-effectiveness, and proactive maintenance strategy. Moreover, they are also regarded environmentally benign because they help to limit the leakage of the greenhouse gas SF6, further enhancing the overall market outlook.

Switchgear Monitoring Market provides advantages in grid distribution including energy savings through reduced usage, improved customer service and more accurate bills, fraud detection and technical losses, and many more. The rising need for continuous monitoring of switchgear across various business verticals, the rising investments for efficient and reliable renewable energy and in T&D networks for upgrading the aging infrastructure, are some factors driving the target market’s rise.

However, some of the restraints in the market include high capital requirement for installing switchgear monitoring systems, stringent environmental and safety regulations for SF6 switchgears which are some factors impeding the growth of this market all over the world.

Based on type, the market is segmented into GIS and AIS. The GIS segment grabbed XX% market share of the Global Switchgear Monitoring System Market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as they are mainly used in industrial areas to fulfill high-energy demands through a space-saving design of minimum cost.

Based on component type, the market is segmented into Hardware & Software & Services. In 2020, the Hardware segment dominated the Switchgear Monitoring System Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) as it helps to control, measure, transmit, and analyze the data in process and non-process industries, utilities, commercial sector, and others.

Based on voltage type, the market is classified into High and medium. The High voltage segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as high-voltage switchgear are mostly gas-insulated switchgear, rated above 36 kV and are connected to high-voltage transmission grids. They are mostly used by different end users such as T&D utilities, large power generation plants, and railways & metros.

Based on monitoring type, the market is classified into Temperature Monitoring, Partial Discharge Monitoring, Gas Monitoring and others. The temperature segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as temperature monitoring offers the early detection of incipient problems, which leads to the rapid identification of issues and better maintenance resulting in a little or no downtime associated with switchgear failure.

Based on end user type, the market is classified into T&D Utilities, Industries, Commercial and others. The T&D Utilities segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as this segment is responsible for the transmission, and distribution of electricity and there is a rapid expansion of power plants and transmission lines to meet the growing electricity.

For a better understanding of the market adoption of Switchgear Monitoring System, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 on account of increase in demand for power due to rapid urbanization and increase in industrialization in the region.

Some of the major players operating in the market include Schneider Electric, Siemens AG, ABB Ltd., General Electric, Eaton Corporation etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

Switchgear monitoring system is a monitoring and diagnostic unit, which provides mechanical and electrical health status of a fleet lineup. It employs a variety of sensors and software to monitor, diagnose, and control switchgear devices from a pre-specified safe location outside the arc flash boundary. Switchgear monitoring system provides an on-line continuous monitoring into the condition of the equipment. High voltage switchgear monitoring system monitors various values of switchgear apparatuses such as circuit breakers, earthing switches, disconnectors, and instrument transformers. The growth of Switchgear Monitoring System Market expanded significantly over recent years, underpinned by increase in digitization in the power industry, increased focus on reliability of electric assets through the early detection of failure, and increasing demand for power across globally. For instance, as per ExxonMobil, global energy demand reaches 675 quadrillion BTUs in 2040, up ~20 percent versus 2017, reflecting a growing population and rising prosperity.

Other factors which are leading the growth of this market are growth of data centers, execution of performance-based incentive systems and definite service programs, the increasing focus towards maximizing reliability of electrical assets through early detection of failure, the growing demand for retrofitting of existing electrical network in line with regulatory and fiscal reorganization across the large-scale industries and the rising inclination towards the advancement of prevailing grid infrastructure across developed nations will further propel the market growth. 

Schneider Electric, Siemens AG, ABB Ltd., General Electric, Eaton Corporation etc. are some of the prominent players operating in the Global Switchgear Monitoring System Market. Several M&As along with partnerships have been undertaken by these players to facilitate countries with more innovative Switchgear Monitoring System applications.

Insights Presented in the Report

“Amongst type, GIS segment holds the major share.”

Based on type, the market is segmented into GIS and AIS. The GIS segment grabbed XX% market share of the Global Switchgear Monitoring System Market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as they are mainly used in industrial areas to fulfill high-energy demands through a space-saving design of minimum cost. 

“Amongst component type, Hardware dominated the market in 2020.”

Based on component type, the market is segmented into Hardware & Software & Services. In 2020, the Hardware segment dominated the Switchgear Monitoring System Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) as it helps to control, measure, transmit, and analyze the data in process and non-process industries, utilities, commercial sector, and others.

“Amongst voltage type, High dominated the market in 2020.”

Based on voltage type, the market is classified into High and medium. The High voltage segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as high-voltage switchgear are mostly gas-insulated switchgear, rated above 36 kV and are connected to high-voltage transmission grids. They are mostly used by different end users such as T&D utilities, large power generation plants, and railways & metros.

“Amongst monitoring type, Temperature Monitoring dominated the market in 2020.”

Based on monitoring type, the market is classified into Temperature Monitoring, Partial Discharge Monitoring, Gas Monitoring, and others. The temperature segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as temperature monitoring offers the early detection of incipient problems, which leads to the rapid identification of issues and better maintenance resulting in a little or no downtime associated with switchgear failure.

“Amongst End User type, T&D Utilities segment dominated the market in 2020.”

Based on end user type, the market is classified into T&D Utilities, Industries, Commercial and others. The T&D Utilities segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as this segment is responsible for the transmission, and distribution of electricity and there is a rapid expansion of power plants and transmission lines to meet the growing electricity.

“Asia Pacific represents as the largest market in the Global Switchgear Monitoring System Market.”

For a better understanding of the market adoption of Switchgear Monitoring System, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 on account of increase in demand for power due to rapid urbanization and increase in industrialization.

Reasons to buy this report:

  •  The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  •  The report presents a quick review of overall industry performance at one glance
  •  The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  •  Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  •  The study comprehensively covers the market across different segments
  •  Deep dive regional & country-level analysis of the industry

Customization Options:

The Global Switchgear Monitoring System Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Companies Covered

  • Schneider Electric
  • Siemens AG
  • ABB Ltd.
  • General Electric Eaton Corporation

Have query on this report?

Make an Enquiry

 Table of Content

1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Objective of the Study
1.3. Limitation
1.4. Stake Holders
1.5. Currency Used in Report
1.6. Scope of the Global Switchgear Monitoring System Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Methodology for the Global Switchgear Monitoring System Market
2.1.1. Main Objective of the Global Switchgear Monitoring System Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL SWITCHGEAR MONITORING SYSTEM MARKET COVID-19

6 GLOBAL SWITCHGEAR MONITORING SYSTEM MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY TYPE

7.1.GIS
7.2.AIS

8 MARKET INSIGHTS BY COMPONENT
8.1.Hardware
8.2.Software & Services

9 MARKET INSIGHTS BY VOLTAGE
9.1.High
9.2.Medium

10 MARKET INSIGHTS BY MONITORING
10.1. Temperature Monitoring
10.2. Partial Discharge Monitoring
10.3. Gas Monitoring
10.4. Others

11 MARKET INSIGHTS BY END USER
11.1. T&D Utilities
11.2. Industries
11.3. Commercial
11.4. Others

12 MARKET INSIGHTS BY REGION
12.1. North America Switchgear Monitoring System Market
12.1.1. United States
12.1.2. Canada
12.1.3. Rest of North America
12.2. Europe Switchgear Monitoring System Market
12.2.1. Germany
12.2.2. France
12.2.3. United Kingdom
12.2.4. Italy
12.2.5. Spain
12.2.6. Rest of Europe
12.3. Asia Pacific Switchgear Monitoring System Market
12.3.1. China
12.3.2. Japan
12.3.3. India
12.3.4. Australia
12.3.5. Rest of Asia Pacific
12.4.Rest of World Switchgear Monitoring System Market

13 SWITCHGEAR MONITORING SYSTEM MARKET DYNAMICS
13.1.Market Drivers
13.2.Market Challenges
13.3.Impact Analysis

14 SWITCHGEAR MONITORING SYSTEM MARKET OPPORTUNITIES

15 SWITCHGEAR MONITORING SYSTEM MARKET TRENDS

16 LEGAL & REGULATORY FRAMEWORK

17 DEMAND AND SUPPLY SIDE ANALYSIS

17.1. Demand Side Analysis
17.2. Supply Side Analysis
17.2.1. Top Product Launches
17.2.2. Top Business Partnerships
17.2.3. Top Business Expansions, Investments and Divestitures
17.2.4. Top Merger and Acquisitions

18 VALUE CHAIN ANALYSIS

19 COMPETITIVE SCENARIO

19.1. Porter’s Five Forces Analysis
19.1.1. Bargaining power of Supplier
19.1.2. Bargaining power of Buyer
19.1.3. Industry Rivalry
19.1.4. Availability of Substitute
19.1.5. Threat of new Entrants                            
19.2. Competitive Landscape
19.2.1. Company Shares, By Revenue

20 COMPANY PROFILED
20.1. Schneider Electric
20.2. Siemens AG
20.3. ABB Ltd.
20.4. General Electric
20.5. Eaton Corporation
20.6. Mitsubishi Electric Corporation
20.7. Prism Power Group
20.8. Guangzhou Haozhi Electric & Automation Co.,Ltd
20.9. SENSeOR
20.10. Doble Engineering Company

21 DISCLAIMER

Success Stories

Our Clients