Image

Global Paralleling Switchgear Market – Industry Trends and Forecast to 2031

Semiconductors and Electronics

Image

Global Paralleling Switchgear Market – Industry Trends and Forecast to 2031

  • Semiconductors and Electronics
  • Upcoming Report
  • Apr 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Paralleling Switchgear Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 1.55 USD Billion
Diagram Market Size (Forecast Year) USD 2.37 USD Billion
Diagram CAGR %

Major Markets Players

  • Dummy1
  • Dummy2
  • Dummy3
  • Dummy4
  • Dummy5

Global Paralleling Switchgear Market, By Voltage (Low Voltage, and Medium Voltage), Application(Prime, Standby), End User (Commercial, Industrial) - Industry Trends and Forecast to 2031.

Paralleling Switchgear Market

Paralleling Switchgear Market Analysis and Size

Increasing adoption of smart grid technologies, driving the demand for advanced paralleling switchgear solutions capable of integrating with intelligent control systems. Additionally, there is a growing emphasis on renewable energy integration, leading to the development of paralleling switchgear equipped to manage diverse energy sources such as solar and wind power. Moreover, there is a heightened focus on enhancing grid reliability and resilience, prompting the deployment of paralleling switchgear with advanced monitoring and diagnostic capabilities to prevent downtime and optimize power distribution. Overall, these trends reflect the industry's evolution towards more efficient, flexible, and sustainable electrical infrastructure.

Global paralleling switchgear market was valued at USD 1.55 billion  in 2023 and is expected to reach USD 2.37 billion by 2031, registering a CAGR of 5.5% during the forecast period of 2024-2031. “Commercial” segment dominate the market due to the increasing construction of commercial infrastructure such as office buildings, malls, and data centers, which require reliable and scalable power distribution solutions. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Voltage (Low Voltage, and Medium Voltage), Application(Prime, Standby), End User (Commercial, Industrial)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa

Market Players Covered

General Electric Company (U.S.), Caterpillar Inc. (U.S.), Cummins Inc. (U.S.), Rolls-Royce (MTU Onsite Energy) (U.K.), Kohler Co. (U.S.), Pioneer Power Solutions. (U.S.), Regal Beloit Corporation (U.S.), Schneider Electric SE. (France), Advanced Power Technologies. (U.S.), Enercon Engineering (U.S.), INDUSTRIAL ELECTRIC MFG (U.S.) among others

Market Opportunities

  • Technological Advancements
  • Expansion in Emerging Markets

Market Definition

Paralleling switchgear is a type of electrical distribution system used to synchronize and manage multiple power sources, such as generators or utility feeds, to supply power to a common load. It allows for the seamless transfer of electrical power between different sources, ensuring continuous and reliable power supply. Paralleling switchgear typically includes controls, protection devices, and monitoring systems to coordinate the operation of multiple power sources and maintain stability within the electrical distribution system. It is commonly used in various applications, including commercial buildings, industrial facilities, data centers, healthcare facilities, and critical infrastructure installations, where uninterrupted power supply is essential.

Paralleling Switchgear Market Dynamics

Drivers

  • Rising Demand for Reliable Power Supply

Industries globally, such as healthcare and IT, rely heavily on uninterrupted power for operations. This heightened need for reliability is fueling the demand for paralleling switchgear systems, which ensure seamless power distribution and backup in case of grid disruptions, thereby supporting continuous operations and preventing costly downtime.

  • Integration of Renewable Energy Sources

As the world transitions towards sustainable energy sources such as solar and wind power, there is a growing need to integrate these intermittent energy sources into the existing power grid. Paralleling switchgear facilitates the smooth integration of renewable energy by synchronizing multiple power sources and managing the flow of electricity, thus optimizing the utilization of renewable resources and enhancing grid stability.

Opportunities

  • Technological Advancements

Ongoing advancements in technology, such as digitalization, IoT integration, and advanced control algorithms, present opportunities for the development of more efficient and intelligent paralleling switchgear systems. These advancements enable enhanced monitoring, control, and predictive maintenance capabilities, thereby improving overall system performance and reliability while meeting evolving customer requirements.

  • Expansion in Emerging Markets

Emerging economies are experiencing rapid industrialization and urbanization, driving the demand for reliable power infrastructure. The expansion of paralleling switchgear markets in these regions (south America and south Asia-Pacifc region) offers significant growth opportunities for manufacturers and suppliers. Moreover, government initiatives promoting electrification and infrastructure development further contribute to market expansion in emerging economies, creating a conducive environment for market players to capitalize on.

Restraint/Challenge

  • High Initial Investment

The implementation of paralleling switchgear systems often requires substantial upfront investment in equipment procurement, installation, and commissioning. This high initial cost can be a barrier, particularly for small-scale enterprises and regions with limited financial resources. Additionally, the complexity of these systems may entail additional expenses related to training and maintenance, further adding to the overall cost of ownership and potentially deterring potential buyers.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.

Recent Development

  • In April 2021, GE and Hitachi-ABB Power Grids entered into a non-exclusive cross-licensing deal. This agreement enabled them to expand their high-voltage equipment offerings by utilizing an innovative gas alternative to sulphur hexafluoride (SF6), a commonly used switching and insulating gas in high-voltage electrical equipment. SF6 is notorious for its contribution to greenhouse gas emissions. The companies benefited from this collaboration by gaining access to a groundbreaking alternative that promises reduced environmental impact while maintaining the functionality and efficiency of their equipment

Paralleling Switchgear Market Scope

The market is segmented on the basis of voltage, application, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Voltage

  • Low Voltage
  • Medium Voltage

Application

  • Prime
  • Standby

End User

  • Commercial
  • Industrial

Paralleling Switchgear Market Regional Analysis/Insights

The market is analysed and market size insights and trends are provided by country, voltage, application, and end user as referenced above.

The countries covered in the market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.    

North America dominates and is the fastest growing region in the global paralleling switchgear market is primarily fueled by robust industrial and commercial activities, stringent regulations promoting grid modernization, and significant investments in critical infrastructure projects, driving the demand for reliable power distribution solutions in the region. Additionally, the presence of key market players and technological advancements further solidify North America's leading position in the paralleling switchgear market.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.      

Competitive Landscape and Paralleling Switchgear Market Share Analysis

The market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the market are:

  • General Electric Company (U.S.)
  • Caterpillar Inc. (U.S.)
  • Cummins Inc. (U.S.)
  • Rolls-Royce (MTU Onsite Energy) (U.K.)
  • Kohler Co. (U.S.)
  • Pioneer Power Solutions. (U.S.)
  • Regal Beloit Corporation (U.S.)
  • Schneider Electric SE. (France)
  • Advanced Power Technologies. (U.S.)
  • Enercon Engineering (U.S.)
  • INDUSTRIAL ELECTRIC MFG (U.S.)


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for Infographics

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Please fill in the below form for Research Methodology

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Get online access to the report on the World's First Market Intelligence Cloud

  • Interactive Data Analysis Dashboard
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
  • Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Request for Demo

FREQUENTLY ASK QUESTIONS

The Paralleling Switchgear Market size will be worth USD 2.37 billion by 2031.
The Paralleling Switchgear Market growth rate will be 5.5% by 2031.
Rising Demand for Reliable Power Supply and Integration of Renewable Energy Sources are the growth drivers of the Paralleling Switchgear Market.
The voltage, application, and end-user are the factors on which the Paralleling Switchgear Market research is based.
The major companies in the Paralleling Switchgear Market are General Electric Company (U.S.), Caterpillar Inc. (U.S.), Cummins Inc. (U.S.), Rolls-Royce (MTU Onsite Energy) (U.K.), Kohler Co. (U.S.), Pioneer Power Solutions. (U.S.), Regal Beloit Corporation (U.S.), Schneider Electric SE. (France), Advanced Power Technologies. (U.S.), Enercon Engineering (U.S.), INDUSTRIAL ELECTRIC MFG (U.S.).
Free Sample Report

CHOOSE LICENCE TYPE

  • 7000.00
  • 4800.00
  • 3000.00
  • 8000.00
  • 12000.00

Why Choose Us

Industry Coverage

DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem.

Regional Coverage

Coverage of Data Bridge is not restricted to developed or emerging economies. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown.

Technology Coverage

In today’s world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. This leads to innovation and our clients to come out as winners.

Goal Oriented Solutions

DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies.

Unparallel Analyst Support

Our analysts take pride in our clients’ success. Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service.

Banner

Client Testimonials