General Electric Company announced winning the three-year framework contract by SP Energy Network to supply g3 circuit breaker. Over the UK's RIIO-T2 regulatory period, the "High Voltage (HV) Main Plant" agreement covers the majority of SP Energy Networks' requirements for 145 kV SF6-free live tank circuit-breakers.
Eaton Corporation Plc announced the acquisition of 82.275 percent controlling interest in Ulusoy Elektrik Imalat Taahhut ve Ticaret A.S., a leading manufacturer of switchgear based in Ankara, Turkey, with its main emphasis is on medium voltage solutions for industrial and utility customers.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 4899
Published Date: May 02, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for electricity, an aging network of grids, and the adoption of smart grids are the major factors driving the market growth.
The market size of medium voltage switchgear is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2035.
Lack of awareness about its proper maintenance and negative impact on the environment are estimated to be the growth hindering factors for the market expansion.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are Siemens AG, Schneider Electric SE, General Electric Company, Bharat Heavy Electricals Limited, Eaton Corporation Plc, Mitsubishi Electric Corporation, Powell Industries, Inc., ABB, Elatec Power Distribution GmbH, and Chint Group Corporation.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by component, insulation, application, end use, and by region.
The power station segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.