DC switchgear market is anticipated to grow at a CAGR of 6.2% during the forecast period. The rising demand for DC switchgear in power distribution in the electric utility transmission and distribution systems is the major factor accelerating the growth of the market. Switchgear is commonly found throughout electric utility transmission and distribution systems as well as in medium to large-sized commercial or industrial facilities. Across the globe, the government in major economies taking initiatives under which they are offering a package of support for innovative energy technologies that will power homes and businesses. For instance, in April 2022, the UK government launched a wide-ranging $434 million package of support for innovative energy technologies that will power British homes and businesses for decades to come and further strengthen the nation’s energy security. This includes £240 million to support the production of hydrogen as clean, low-cost energy technology, $2.9 million of funding to develop next-generation nuclear technology and a further $5.8 million towards research into carbon capture. This will increase the demand for DC switchgear in electric power plants across the country. Moreover, rising consumer inclination toward electric vehicles (EV) is anticipated to drive its demand, thereby fueling the need for EV charging infrastructure demand along with DC switchgear. The high cost of this switchgear poses a serious challenge to the growth of the market.
Get Free Sample link @ https://www.omrglobal.com/request-sample/dc-switchgear-market
The global DC switchgear market is segmented based on voltage, deployment type, and application. Based on voltage, the market is sub-segmented into Up to 750 V, 1,800 V to 3,000 V, 3,000 V to 10 kV, and Above 10 kV. Based on deployment type, the market is categorized into fixed mounting, plug-in, and withdrawable units. Among these, up to 750 V segment is expected to gain a high share. Advantages such as ease of installation and maintenance, high breaking capacity, and good protection performance associated with this DC switchgear make them ideal for medium to large-sized commercial or industrial facilities. Further based on application, the market is subdivided into railways, power generation, EV charging infrastructure, marine, and others.
full report of DC Switchgear Market available @ https://www.omrglobal.com/industry-reports/dc-switchgear-market
- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global DC Switchgear Market Report by Segment
- By Voltage
o Up to 750 V
o 1,800 V to 3,000 V
o 3,000 V to 10 kV
o Above 10 kV
- By Deployment Type
o Fixed Mounting
o Plug-In
o Withdrawable Units
- By Application
o Railways
o Power Generation
o EV Charging Infrastructure
o Marine
o Others
Global DC Switchgear Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global DC switchgear market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/dc-switchgear-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
