Switchgear is an integral part of the electric power system. The power sector offers a promising future, with growing demands for electricity following increasing urbanization in the developing nations. Switchgear forms a crucial part in the sector across various segments including power generation, transmission and distribution, and equipment protection. Switchgear is employed to minimize electric failures and mitigate aftereffects of fault currents that flow through the circuit. These high-intensity fault currents can damage equipment or devices in the circuit.
With increasing electricity access worldwide, the number of substations would increase, which in turn would raise the demand for switchgears.
The switchgear market is expected to grow from an estimated USD 89.40 Billion in 2016 to USD 144.41 Billion by 2021, at a CAGR of 10.07% from 2016 to 2021.
Asia-Pacific is the dominant market for switchgears.
Switchgear are preferred more over its substitute fuses as they do not provide re-closure function, which is very important in setting up the circuit in its normal functions. Moreover, there is no need of replacing the switchgear after every disconnection of the circuit due to faults, which is unavoidable in fuses.