Market Share of Switchgear Industry
The switchgear market is fragmented, with key players like ABB Ltd., Havells India Ltd., Mitsubishi Electric Corporation, Schneider Electric, and Siemens AG, among others. Players in the market are adopting strategies such as partnerships, innovations, and acquisitions to enhance their product offerings and gain a sustainable competitive advantage.
In February 2023, ABB India announced the commissioning of a factory in Nashik to manufacture gas-insulated switchgear. The company aims to serve customers across various industries, including power distribution, smart cities, data centers, transport (metro, railways), tunnels, ports, highways, and other infrastructural developments. The new facility is expected to manufacture primary and secondary GIS.
In December 2022, Fuji Electric released the VC-V20A-1 switchgear with a reduced footprint. The product met IEC (International Electrotechnical Commission) standards and was marketed globally, mainly in Southeast Asia.
In November 2022, Schneider Electric partnered with ARDECO to manufacture power and energy technology solutions in the United Arab Emirates. As part of the agreement, Schneider Electric was expected to manufacture a range of highly advanced energy automation solutions and integrated power solutions, including switchgear and control panel integrations, as well as energy automation design and engineering.
Switchgear Market Leaders
ABB Ltd.
Havells India Ltd.
Mitsubishi Electric Corporation
Schneider Electric
Siemens AG
*Disclaimer: Major Players sorted in no particular order
