Paralleling Switchgear Market Research Report – Forecast to 2030

Paralleling Switchgear Market Research Report: Information by Voltage (Low Voltage, and Medium Voltage), by Application (Prime, Standby and Peak Shave), by End-Use (Commercial, Industrial, Utilities and Others) and By Region - Forecast till 2030

ID: MRFR/E&P/4552-HCR | February 2021 | Region: Global | 100 pages

Paralleling Switchgear Market Scenario


Paralleling switchgear market is expected to expand at ~ 5.5% CAGR during the forecast period.


Paralleling switchgear is a combination of metering, control & switching and protection elements acting as an integrated system to control the distribution of power for emergency systems, standby systems, critical operation power systems (COPS) and optional standby systems. Increasing stake of distributed generation, maturing and overloading of power grids, and investment in commercial and industrial sectors such as construction, oil & gas, mining and telecommunication are the key factors driving the paralleling switchgear market.


Global Paralleling Switchgear Market


The global paralleling switchgear market is estimated to observe a phenomenal growth over the forecast period. This is due to the substantial growth in the conventional and non-conventional power sector and rise in energy demand has propelled the paralleling switchgear market in various regions. The growth is primarily attributed due to the upgrade of ageing utility infrastructure and rising investments in the renewable energy sector have enhanced paralleling switchgear market in numerous countries, which is probable to continue over the forecast years. Asia Pacific region is expected to expand at the highest CAGR during the forecast period, wherein China was the major country-level market followed by India and Japan. Upsurge in population with tremendous energy demand growth has led to extraordinary growth for industrial, commercial and residential infrastructure in the region and consequently led to the growth of paralleling switchgear market.


Key Players


The key players of global 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.), and Pioneer Power Solutions. (U.S.). Regal Beloit Corporation (U.S.), Schneider Electric SE. (France), Advanced Power Technologies. (U.S.), Enercon Engineering, Inc. (U.S.), Industrial Electric Mfg (U.S.), and Russelectric Inc. (U.S.) are among others.


Market Segmentation


 paralleling switchgear market


Global paralleling switchgear market has been segmented based on voltage, application, end user and region. Based on voltage, the market is segmented into low voltage, and medium voltage. Among these, the low voltage, is projected to dominate the paralleling switchgear market through 2023. The rising demand from the construction and telecommunications sectors is propelling the low voltage segment, particularly in countries such as China, India, Germany, and U.S. Low voltage paralleling switchgear is favored for industrial operations owing to safer operations and in housing capability of numerous assemblies of equipment at an identical place. An upsurge in demand from the industrial sector is anticipated to boost the evolution of the low voltage global paralleling switchgear market over the forecast period. Based on application, the market is segmented into prime, standby and peak shave. Standby segment had been dominating the market in 2016 and is projected to be the fastest-growing application segment. Standby generators are a way to maintain the stability of power in many industries such as healthcare, data centers, and process industry. Based on the end user, the market is segmented into commercial, industrial, utilities and others. Industrial had been dominating the market in 2016 and is projected to be the fastest-growing end user over the next five years. Industrial segment is propelled by factors such as the growing demand for critical power from industries in developing regions of Asia Pacific and Middle East & Africa. Focus on data center services directed by increasing demand from finance and e-commerce sectors and huge investments in public infrastructure schemes by governments worldwide are the significant drivers of the industrial segment of paralleling switchgear market.


The paralleling switchgear market is projected to have enormous developments over the forecast period owing to continuous technological advancement in energy sector tied with rising power demand. The market is also likely to have a huge number of expansion activities by global and well-established firms. Mergers and acquisition activities are anticipated to be seen during the forecast period with several contracts and agreements among the top EPC contractors and Government across the globe.



Report Scope:
Report Attribute/Metric Details
  Market Size   2023: Significant Value
  CAGR   5.5% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Voltage, Application, End-Use
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   General Electric Company (U.S.), Caterpillar Inc. (U.S.), Cummins Inc. (U.S.), Rolls-Royce (MTU Onsite Energy) (U.K.), Kohler Co. (U.S.), and Pioneer Power Solutions. (U.S.). Regal Beloit Corporation (U.S.), Schneider Electric SE. (France), Advanced Power Technologies. (U.S.), Enercon Engineering, Inc. (U.S.), Industrial Electric Mfg (U.S.), and Russelectric Inc. (U.S.)
  Key Market Opportunities   Gradual Recovery Of construction, oil & gas, mining and telecommunication
  Key Market Drivers

  • Increasing stake of distributed generation
  • Maturing and overloading of power grids
  • Investment in commercial and industrial sectors


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    Frequently Asked Questions (FAQ) :


    A 5.5 % CAGR is predicted to be gained by eh market.

    A flourishing income level in the market is anticipated to shape the market in the forthcoming period.

    Pioneer Power Solutions. (U.S.), Kohler Co. (U.S.), Regal Beloit Corporation (U.S.), Advanced Power Technologies. (U.S.) and Schneider Electric SE. (France) are a few of the businesses in the market.

    The APAC region is expected to motivate the global market in the upcoming period steadily.

    The intensifying share of distributed generation is anticipated to transform the market.