The Switchgear Monitoring System Market is expected to grow at a robust CAGR over the forecast period (2021-2028).

The factors driving growth of the Switchgear Monitoring System Market includes rising focus on using renewable sources of energy such as solar and wind energy, growing consumption of electricity, Government initiatives promotes digitalization and improved living standards of consumer. For instance, the Government of India is planning to expand solar and other renewable capacity to 25,750 MW by the end of 2022, with total central financial support of INR 34,422 crore, which is expected to accelerate the Switchgear Monitoring System Market size in the approaching years. In addition, switchgear monitoring systems avoids unplanned outages, minimizes repairing cost, enhances switchgear availability and are cost-effective, are some of the features pushing the Switchgear Monitoring System Market Share. Moreover, increasing investments by major companies on research and development, strategic mergers and collaborations between key industry leading players, growing population growth rates, and rising emphasis on maximizing reliability of electrical assets, are further contributing towards the market growth.

The prominent players operating in the market are Siemens, SENSeOR, Eaton, Koncar – Electrical Engineering Institute, Inc, Mitsubishi Electric Corporation., Schneider Electric, ABB, TRAFAG AG., General Electric., and Tiara Vibrasindo Pratama, among others.

Based on Voltage, the Medium emerged as the fastest growing segment during the forecast period

As per the Switchgear Monitoring System Market Forecast, increasing application of medium voltage switchgear for industrial and commercial purposes, is pushing segment’s growth.

Based on Monitoring, the Temperature Monitoring segment is projected to dominate the market over the forecast period due to growing demand for temperature monitoring in power distribution lines

Temperature monitoring switchgear systems enables early detection of incipient problems, is the major factors propelling segment’s growth.

Based on Region, the Asia-Pacific region is expected to hold on maximum market share during the forecast period

According to the Switchgear Monitoring System Market Trends, rise in the number of renewable energy projects across India, China, and Indonesia, rising focus on developing transmission lines and high population size, are some of the important factors increasing the market growth.

Key Developments

• In 2020, Siemens acquired C&S Electric in India for meeting the growing electrification needs and fulfil the rising demand for low-voltage power distribution in India.

Market Segmentation

Segmentation by Type

• Gas-insulated high-voltage switchgear (GIS)

• Air-insulated high-voltage switchgear (AIS)

Segmentation by Voltage

• Low

• Medium

• High

Segmentation by Component

• Hardware

• Software and Services

Segmentation by Monitoring

• Gas Monitoring

• Temperature Monitoring

• Partial Discharge Monitoring

• Others

Segmentation by End-User

• Utilities

• Industrial

• Commercial

• Residential

Segmentation by Region

• Asia Pacific

  • China

  • Japan

  • India

  • Rest of APAC

• North America

  • United States of America

  • Canada

• Europe

  • United Kingdom

  • Germany

  • France

  • Spain

  • Rest of Europe

• RoW

  • Brazil

  • South Africa

  • Saudi Arabia

  • UAE

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