Top Companies in Switchgear Market | Comprehensive Research Report by Vantage Market Research | Company Market Share, Competitor Analysis, Past Data, Price Analysis
Switchgear is an electrical component that is used in a circuit to effectively control, monitor, and regulate the circuit. It's used in a variety of residential, commercial, industrial, and utility applications to assure operating safety, cost-effectiveness, and continuity.
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Market Overview:
The Global Switchgear Market is valued at USD 68.3 Billion in the year 2021 and is anticipated to reach a value of USD 92.5 Billion by the year 2028. The Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 5.2% over the forecast period. Switchgear is made up of electrical switches, fuses, or circuit breakers used to control, turn on or off the electrical circuit, and control the power system. It provides security tools from short circuits and errors and protects individuals by limiting the current flow of the system to safe levels. As a result, globally in various fields such as residential, commercial, and industrialized. It is used to disassemble the toolkit for testing and repair and debugging. The growing demand for energy due to global population growth represents one of the most important factors driving the market.
In addition, Switchgear ensures seamless communication and a high volume of productive channels. It also separates the faulty parts of the circuit in the event of a malfunction. In addition, Switchgear improves system access by allowing more than one source to load. It is used in confined spaces, such as roofs, city buildings, office areas, coastal platforms, extensions, industrial plants, and hydroelectric power plants. In addition, the growing investment in the energy sector provides lucrative growth opportunities for market players.
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Some of the key players operating in the Switchgear Market are listed below:
|
Company Name |
Revenue in the US |
|
$28 Billion |
|
$74 Billion |
|
$30 Billion |
|
$19 Billion |
|
$70 Billion |
|
$20 Billion |
|
$616 Million |
|
$671 Million |
|
$38 Billion |
|
$28 Billion |
ABB Ltd is one of the world's leading engineering companies, which helps customers to use electrical power effectively and to increase industrial productivity sustainably. The company is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. They have served utility and industry customers for over 50 years with a complete range of engineering, products, solutions, and services in the areas of Automation and Power technology. ABB Ltd, formerly ASEA Brown Boveri, is a Swedish-Swiss multinational corporation headquartered in Västerås, Sweden, and Zürich, Switzerland. ABB Limited provides power and automation technologies. The Company operates under segments that include power products, power systems, automation products, process automation, and robotics.
General Electric Company is an American multinational conglomerate founded in 1892, incorporated in New York State, and headquartered in Boston. General Electric Company is a globally diversified technology and financial services company. The Company's products and services include aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing, and industrial products.
Schneider Electric SE manufactures electrical power products. The Company offers car chargers, home security goods, light switches, access control, sensors, valves, circuit breakers, cables, accessories, signaling devices, fuses, motor starters, and voltage transformers. Schneider Electric serves customers worldwide.
Eaton Corporation PLC is a multinational power management company founded in the United States with global headquarters in Dublin, Ireland, and a secondary administrative center in Beachwood, Ohio. Eaton Corporation PLC manufactures engineered products for the industrial, vehicle, construction, commercial, and aerospace markets. The Company offers hydraulic products and fluid connectors, electrical power distribution and control equipment, truck drivetrain systems, engine components, and a wide variety of controls. Eaton conducts business worldwide.
Siemens AG is an engineering and manufacturing company. The Company focuses on areas of electrification, automation, and digitalization. Siemens also provides engineering solutions in automation and control, power, transportation, and medical diagnosis.
Larsen & Toubro Ltd manufactures engineering equipment undertakes large-scale engineering projects and acts as the Indian representative for several overseas manufacturers of heavy machinery. The Company's products include bulldozers, road rollers, dairy machinery, chemical and pharmaceutical plants, Switchgear, food processing machinery, and feed milling plants.
Hitachi, Ltd. is a Japanese multinational conglomerate corporation headquartered in Chiyoda, Tokyo, Japan. Hitachi, Ltd. manufactures communications and electronic equipment, heavy electrical and industrial machinery, and consumer electronics. The Company's diverse product line ranges from nuclear power systems to kitchen appliances. Hitachi also operates subsidiaries in the wire and cable, metal, and chemical industries.
CG Power and Industrial Solutions Limited manufacture distributes, installs, and services electrical and allied equipment. The company was previously known as Crompton Greaves Limited, which is an Indian multinational company engaged in the design, manufacturing, and marketing of products related to power generation, transmission, and distribution. It is based in Mumbai and is a part of the Murugappa Group. The company offers transformers, reactors, Switchgear control equipment and accessories, industrial motors, pumps, and communication systems. CG Power and Industrial Solutions serve customers globally.
Mitsubishi Electric Corporation, established on 15 January 1921, is a Japanese multinational electronics and electrical equipment manufacturing company headquartered in Tokyo, Japan. Mitsubishi Electric Corporation manufactures and sells electric and electronic equipment used in energy and electric systems, industrial automation, information and communication systems, electronic devices, and home appliances. It serves customers in Japan and internationally.
Toshiba Corporation is a manufacturer and marketer of advanced electronic and electrical products such as information and communications systems; digital consumer products; electronic devices and components; power systems including nuclear energy; industrial and social infrastructure systems; and home appliances. Toshiba Corporation was founded in 1939 and is based in Tokyo, Japan.
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