New York, August 2022: Axiom Market Research & Consulting™ added a report on the global DC Switchgear market which includes studies on technology, and applications across various countries in key regions across the globe. The global DC Switchgear market is projected to grow at a CAGR of 5.90% for the forecast period 2022 to 2028. The global DC Switchgear market is estimated and forecasted in terms of revenue (USD Thousand) generated by the DC Switchgear market.
The increase in renewable energy sources has led to a corresponding increase in the need for DC switchgear. DC Switchgear devices are usually used in complex electrical substations and industries to withstand various operating voltages as well as harsh environmental conditions to maintain voltage stability. Along with this, increasing demand for the commuter rail network, expansion, and modernization of the goods rail network, and upgrading of existing metro lines across the globe are expected to fuel the growth of the railway segment of the DC Switchgear market
The report analyses the global DC Switchgear industry based on voltage, deployment type, application, and geography. The DC Switchgear Voltage is segmented into low voltage (Up to 1kV), medium voltage (1kV - 69kV), high voltage (69kV-230kV), and extra high voltage (Above 230kV). The deployment type of DC Switchgear is classified into the fixed mounting, plug-in, and withdrawable units. Based on application, the market is employed in various applications such as railways, solar farms, marine, power generation, and others. The Global DC Switchgear market is studied across various key countries and regions, such as North America, Europe, Asia-Pacific, and the Rest of the World.
Low-voltage DC switchgear protects the users from insulation failure and protects devices from events such as overvoltage and overcurrent. Recent developments in electric infrastructure, along with the rise in infrastructure spending and growing measures to ensure stability and safety are major factors due to which, the low-voltage DC switchgear segment is expected to dominate the market over the estimated time period. Thus, low voltage is growing at the highest rate during the forecast period.
Fixed mounting design is typically used in applications where the front panel must contain all metering and applicable instrumentation, or where minimal housing depth is important (such as inside traction power substations). The fixed mounting DC switchgear offers some key benefits in terms of cost efficiency, low failure rate, and safety. Due to these key factors, the fixed mounting segment is expected to lead the market over the projected time period
The DC Switchgear market has dominated the inside station. The station will include the railway station head house that has trains stopped to load or unload passengers, and freight. This inside station has staffed ticket sales offices, automated ticket machines, and other assemblies related to railway operations. Thus it is a bit crowded railway head house and needs an effective automation system to simplify the railway operations.
Asia Pacific is expected to dominate the region. The increasing urbanization and increasing population and growing demand for electricity as well as increasing demand for renewable energy in the Asia Pacific region will drive the market growth. In addition, government subsidies, and rising technology demands in the region will boost the market growth. Apart from that, the increasing smart grid and IoT technology developments that furthering the demand for switchgear in the Asia Pacific region.
The key players in the global DC Switchgear market, are Hitachi Energy Ltd, Siemens, PLUTON Rail PTY LTD, ABB, Eaton, L&T Electrical & Automation, Lucy Electric, Powell Industries, Myers Power Production, Inc., Grimard, DAOQ Group, Schaltbau GmbH, FLOHE GmbH, and among others.
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