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The demand for electricity generation are expected to drive innovation in medium voltage switchgear manufacturing, thus driving the market during the forecast period.

The global medium voltage switchgear market is expected to grow from $40.13 billion in 2022 to $43.73 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The global medium voltage switchgear (2kv – 36kv) market is expected to grow to $57.84 billion in 2027 at a CAGR of 7.2%.

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Global Medium Voltage Switchgear Market Segments Include:

• By Insulation:Air, Gas, Oil, Vacuum
• By Installation:Outdoor, Indoor
• By Application:Residential, Commercial, Industrial, Utility
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global medium voltage switchgear market in 2021.

Major Market Players in the medium voltage switchgear market include Siemens AG, Schneider Electric SE, Eaton Corporation PLC., Mitsubishi, Hyundai Heavy Industries, ABB, Bharat Heavy Electricals Limited.

The development of eco-efficient switchgear has become an emerging trend in the medium-voltage switchgear market. Eco-efficient switchgear is an alternative to greenhouse gas sulfur hexafluoride (SF6) for improved eco-efficiency and less environmental impact. Switchgear of SF6 gas is used as the electrical insulation and current interruption medium and is extremely restricted to greenhouse gas. For instance, in November 2022, Hitachi Energy, a Switzerland-based company operating in an energy solution, introduced sulfur hexafluoride (SF6) free 420-kilovolt (kV) gas-insulated switchgear (GIS) technology to achieve carbon neutrality in the power grid. Therefore, a rise in the usage of eco-efficient switchgear is gaining popularity in the medium-voltage switchgear market.

The Medium Voltage Switchgear Global Market Report 2023  provides a medium voltage switchgear market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The medium voltage switchgear market forecast analyzes medium voltage switchgear market size, medium voltage switchgear market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Medium voltage switchgear refers to electrical switchgear rated between 2 KV and 36 KV. It provides central control and safety for medium-voltage power circuits and equipment.

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