According to the latest research report from Global Market Insights Inc., the DC switchgear market is expected to exceed US$38 billion by 2032.
Various factors, such as increased adoption of renewable energy sources, increased investment in infrastructure development, and growing demand for reliable power distribution systems, are driving the growth of the industry. As solar and wind power installations expand, there is a growing need for efficient switchgear to control, monitor and protect the generated DC power. In addition, the rapid growth of electric vehicle charging infrastructure requires the use of reliable DC switchgear for safe and reliable power distribution.
By 2032, the plug-in segment will account for a significant share of the DC switchgear market. This segment offers various benefits such as ease of installation, flexibility and scalability. Pluggable switchgears are designed to be easily connected and disconnected, allowing for quick and efficient maintenance and upgrades. These systems are widely used in data centers, commercial buildings and industrial facilities. The rapid expansion of data centers and the growing popularity of cloud computing services are driving demand for products in the IT and telecommunications segments.
The share of DC switchgear in power distribution applications is expected to increase significantly in 2023-2032. Growth is driven by growing demand for reliable power supply in urban areas, the expansion of renewable energy projects and increased investment in infrastructure development. These systems play a vital role in ensuring the safe and efficient distribution of electricity to end users. The integration of digital technologies into power distribution switching systems, such as advanced metering and monitoring systems, is also driving market growth.
From 2023 to 2032, the North American DC switchgear market will expand rapidly. Growing attention to the integration of renewable energy sources, coupled with government initiatives to promote clean energy, has led to a significant increase in the adoption of DC switchgear solutions. Moreover, the growing investment in infrastructure development, especially in the construction of smart grids, creates a huge demand for switchgear in the region.
Notable DC switchgear companies include Siemens, ABB, Eaton Corporation, Schneider Electric, Mitsubishi Electric, General Electric (GE), Fuji Electric, Toshiba Corporation, Larsen & Toubro (L&T), Powell Industries, Bharat Heavy Electricals. Limited (BHEL), Hyosung Corporation, CG Power and Industrial Solutions, Ormazabal and Crompton Greaves.
Chapter 2 Executive Summary 2.1 360° DC Switchgear Industry Overview 2019-2032 Industry Analysis 3.1 Industry Ecosystem Analysis 3.2 Regulatory Environment 3.3 Impact of COVID-19 on Industry Prospects 3.4 Industry Impact 3.4.1 Growth Drivers 3.4.2 Industry Pitfalls and Challenges 3.5 Growth Potential Analysis 3.6 Porter Analysis 3.7 PESTEL Analysis Browse Our Report Store – GMIPulse @ https www.gminsights.com/gmipulse
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Post time: Jul-31-2023