Yahoo Finance Global DC Switchgear Market Report 2022: Adoption of High Voltage Direct Current (HVDC) Technology Presents Opportunities
Global DC Switchgear Market
Dublin, Dec. 01, 2022 (GLOBE NEWSWIRE) -- The "Global DC Switchgear Market by Voltage, Deployment Type, Application, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global DC switchgear market is projected to reach USD 14.8 billion by 2026 from an estimated market size of USD 11.0 billion in 2021, at a CAGR of 6.1% during the forecast period. The factors driving the growth for DC switchgear are the growing demand for renewable power generation and increasing investment in the upgradation and modernization of the railway sector.
Up to 750 V segment dominates the global market
The DC switchgear market, by voltage, is segmented into up to 750 V, 750 V to 1,800 V, 1,800 V to 3,000 V, 3,000 V to 10 kV and above 10 kV. The up to 750 V segment is expected to be the largest segment in the DC switchgear market, by voltage, during the forecast period. The high-cost efficiency associated with 750 V DC power supply systems is expected to fuel the growth of the up to 750 V segment of the DC switchgear market.
Railways segment to lead the global DC switchgear market
The DC switchgear market, by application, is segmented into railways, solar farms, battery storage, EV charging infrastructure, marine, power generation and others. The railways segment is expected to hold the largest size of the market for DC switchgears. The developments in the suburban railway network, expansion and modernization of heavy rail network, and upgrade of existing metro lines across the world are expected to fuel the growth of the railways segment in the DC switchgear market.
Asia Pacific dominates the global DC switchgear market in terms of annual growth rate
The Asia Pacific region is estimated to be the largest market for the DC switchgear, followed by North America. The Asia Pacific region is also projected to be the fastest-growing market during the forecast period. Asia Pacific is expected to dominate the market due to the growing investments in the railways sector and integration of renewable energy sources, especially in countries such as China, India, Japan and Australia.
Market Dynamics
Drivers
Increasing Investments in Upgrade of Transmission and Distribution Networks
Growth in Renewable Power Generation
Increasing Demand for Reliable and Secure Power Supply Worldwide
Restraints
Impact of Environmental Conditions on Performance of DC Switchgears
Increase in Competition from Unorganized Sector
Opportunities
Introduction of Performance-Based Incentive Schemes and Definite Service Programs for Distributors in Multiple Countries
Adoption of High Voltage Direct Current (HVDC) Technology
Challenges
Cybersecurity Issues
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Dc Switchgear Market, by Voltage
7 Dc Switchgear Market, by Deployment Type
8 Dc Switchgear Market, by Application
9 Dc Switchgear Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
ABB
Brush Group
Daqo Group
Eaton
Entec Electric & Electronic
General Electric
Grimard
Hitachi Energy Ltd.
KDM Steel
L&T Electrical & Automation
LS Electric Co. Ltd.
Meidensha Corporation
Myers Power Products, Inc.
Ningbo Tianan (Group) Co. Ltd.
Pluton Rail Pty. Ltd.
Powell Industries
Schneider Electric
Secheron
Siemens
Toshiba Infrastructure Systems & Solutions Corporation
For more information about this report visit https://www.researchandmarkets.com/r/1tdsmm
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