Hybrid Switchgear Market Size 2023-2028: ABB, CHINT Group., General Electric, Hitachi, L&T, Mitsubishi Electric

According to MarkNtel Advisors study the Global Hybrid Switchgear Market is expected to grow at a combined CAGR of around 11.5% during the forecast period, i.e., 2023-28.

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Scope of the Report and Hybrid Switchgear Market Segmentation:

By Voltage

• Up to 72.5KV
• 6 to 245KV
• Above 245KV

By Installation

• Onshore
• Offshore

By End User

• Infrastructure
• Transportation
• Industrial
• Others

Here, the industrial sector is expected to become the largest end-user of hybrid switchgear in the forecast years.

Hybrid Switchgear Market Development:

• On 12 July 2022, Hitachi Energy announced supplying its WindSTAR™ transformers & high-voltage hybrid switchgear PASS to China's Tuci offshore wind power project. It would allow for steady & reliable wind farm operations at a 66-kilovolt (kV) voltage level, promote efficient utilization of offshore wind power, and hence aid in optimizing the local energy structure.
• In October 2021, Madhya Pradesh, India, got its first hybrid switchgear module in Indore, i.e., a part of the ongoing expansion of the transmission network of the city. It is the first that MPPTCL (Madhya Pradesh Power Transmission Company Limited) has used a hybrid switchgear module system in a transformer of 50 MVA capacity at the 220kV substation of the Bicholi Mardana area in Indore

Geographical Analysis:

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Of all regions globally, Asia-Pacific is expected to dominate the Hybrid Switchgear Market with the largest share during 2023-28.

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