Hybrid Switchgear Market Size 2023-2028: ABB, CHINT Group., General Electric, Hitachi, L&T, Mitsubishi Electric
Hybrid Switchgear Market Size 2023-2028: ABB, CHINT Group., General Electric, Hitachi, L&T, Mitsubishi Electric
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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.
Note: If you require specific information not covered in the current report, we can provide it through customized option
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