PUBLISHER: BIS Research | PRODUCT CODE: 1570640
PUBLISHER: BIS Research | PRODUCT CODE: 1570640
Europe Switchgear Monitoring System Market: Focus on Product, Application, and Country - Analysis and Forecast, 2023-2033
Introduction to Europe Switchgear Monitoring System Market
The Europe switchgear monitoring system market was valued at $660.2 million in 2023 and is expected to reach $1,514.1 million by 2033, with a CAGR of 8.65% during the forecast period 2023-2033. Switchgear monitoring systems are seeing rapid expansion in the European market, fueled by important characteristics that encourage their implementation in a variety of industries. A primary driver is the increasing need for reliable and efficient power distribution solutions, as companies modernize and expand. Modern switchgear monitoring systems are essential for ensuring constant power, keeping an eye on the condition of the machinery, and averting future breakdowns. The demand for these systems is further increased by the region's emphasis on smart grid infrastructure and the incorporation of IoT technology into power networks. Modern technological advancements like real-time data analytics and sophisticated sensors improve monitoring capabilities, allowing for predictive maintenance and reducing downtime. Furthermore, the increased focus on sustainability and energy efficiency in Europe is promoting investments in monitoring systems that maximize energy use, minimize losses, and support greener operations.
Market Introduction
| KEY MARKET STATISTICS | |
|---|---|
| Forecast Period | 2023 - 2033 |
| 2023 Evaluation | $660.2 Million |
| 2033 Forecast | $1,514.1 Million |
| CAGR | 8.65% |
The increasing need for dependable power distribution systems across a range of industries is driving substantial expansion in the European switchgear monitoring system market. Ensuring a consistent and effective flow of power has grown crucial as industry grow and upgrade. Switchgear monitoring systems are essential for preserving the integrity and performance of electrical machinery, seeing any problems, and averting expensive downtime.
The need for sophisticated switchgear monitoring systems is being further fueled by the growing use of smart grid infrastructure and the incorporation of Internet of Things (IoT) technology in Europe's power distribution networks. Power distribution becomes more dependable and efficient when real-time monitoring, data analysis, and predictive maintenance are made possible by these technologies.
Moreover, enterprises are investing in monitoring systems that minimize energy losses and maximize power consumption as a result of Europe's emphasis on sustainability and energy efficiency. The demand for more environmentally friendly operations and adherence to strict energy rules is fueling this market's expansion as well. The demand for more intelligent, effective, and sustainable power management solutions is projected to fuel the market for switchgear monitoring systems in Europe as long as technology improvements persist.
Market Segmentation:
Segmentation 1: by End User
- Utilities
- Industrial
- Commercial
- Others
Segmentation 2: by Type
- Air-Insulated Switchgear
- Gas-Insulated Switchgear
Segmentation 3: by Voltage
- Low Voltage
- Medium Voltage
- High and Extra Voltage
Segmentation 4: by Service
- Partial Discharge Monitoring
- Gas Monitoring
- Temperature Monitoring
- Others
Segmentation 5: by Region
- Europe - Germany, France, Spain, U.K., and Rest-of-Europe
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different switchgear monitoring systems. Moreover, the study provides the reader with a detailed understanding of the Europe switchgear monitoring system market based on the end user (utilities, industrial, commercial, and others). Furthermore, there is a growing demand for reliable and cost-effective switchgear monitoring systems. Manufacturers can seize opportunities to design and produce next-generation switchgear equipped with advanced monitoring and diagnostic features.
Growth/Marketing Strategy: The Europe switchgear monitoring system market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the Europe switchgear monitoring system market.
Competitive Strategy: Key players in the Europe switchgear monitoring system market analyzed and profiled in the study involve switchgear monitoring system manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the Europe switchgear monitoring system market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.
Some of the prominent established names in this market are:
- ABB
- Siemens
- Schneider Electric
Table of Contents
Executive Summary
Scope and Definition
1 Markets
- 1.1 Trends: Current and Future Impact Assessment
- 1.1.1 Trends Shaping Switchgear Monitoring System Market
- 1.1.2 Rising Demand for Electricity
- 1.1.3 Integration of Digital Technologies and Internet of Things (IoT)
- 1.2 Supply Chain Overview
- 1.2.1 Value Chain Analysis
- 1.2.2 Market Map
- 1.2.2.1 Switchgear Monitoring System Market - Product (by Type)
- 1.2.2.1.1 Air-Insulated Switchgear
- 1.2.2.1.2 Gas-Insulated Switchgear
- 1.2.2.1 Switchgear Monitoring System Market - Product (by Type)
- 1.2.3 Pricing Forecast
- 1.3 Research and Development Review
- 1.3.1 Patent Filing Trend (by Country and Company)
- 1.4 Regulatory Landscape
- 1.5 Stakeholder Analysis
- 1.5.1 Use Case
- 1.5.2 End User and Buying Criteria
- 1.5.2.1 Utility Companies
- 1.5.2.2 Industrial Facilities
- 1.5.2.3 Commercial Buildings
- 1.6 Impact Analysis for Key Global Events
- 1.6.1 COVID-19 Pandemic
- 1.6.2 Russia-Ukraine Conflict
- 1.6.3 Middle East Crises
- 1.7 Major Developments and Ongoing Projects
- 1.8 Market Dynamics Overview
- 1.8.1 Market Drivers
- 1.8.1.1 Aging Electrical Infrastructure
- 1.8.1.2 Advancements in IoT and Sensor Technology
- 1.8.2 Market Restraints
- 1.8.2.1 High Implementation Costs and Complex Data Management
- 1.8.3 Market Opportunities
- 1.8.3.1 Renewable Energy Integration
- 1.8.1 Market Drivers
2 Regions
- 2.1 Regional Summary
- 2.2 Europe
- 2.2.1 Key Market Participants in Europe
- 2.2.2 Business Drivers
- 2.2.3 Business Challenges
- 2.2.4 Application
- 2.2.5 Product
- 2.2.6 Germany
- 2.2.7 Application
- 2.2.8 Product
- 2.2.9 France
- 2.2.10 Application
- 2.2.11 Product
- 2.2.12 Spain
- 2.2.13 Application
- 2.2.14 Product
- 2.2.15 U.K.
- 2.2.16 Application
- 2.2.17 Product
- 2.2.18 Rest-of-Europe
- 2.2.19 Application
- 2.2.20 Product
3 Markets - Competitive Benchmarking & Company Profiles
- 3.1 Competitive Landscape
- 3.2 Company Profile
- 3.2.1 ABB
- 3.2.1.1 Overview
- 3.2.1.2 Top Products/Product Portfolio
- 3.2.1.3 Top Competitors
- 3.2.1.4 Target Customers/End-Use Industries
- 3.2.1.5 Key Personnel
- 3.2.1.6 Analyst View
- 3.2.1.7 Market Share, 2022
- 3.2.2 Siemens
- 3.2.2.1 Overview
- 3.2.2.2 Top Products/Product Portfolio
- 3.2.2.3 Top Competitors
- 3.2.2.4 Target Customers/End-Use Industries
- 3.2.2.5 Key Personnel
- 3.2.2.6 Analyst View
- 3.2.2.7 Market Share, 2022
- 3.2.3 Schneider Electric
- 3.2.3.1 Overview
- 3.2.3.2 Top Products/Product Portfolio
- 3.2.3.3 Top Competitors
- 3.2.3.4 Target Customers/End-Use Industries
- 3.2.3.5 Key Personnel
- 3.2.3.6 Analyst View
- 3.2.3.7 Market Share, 2022
- 3.2.4 Eaton
- 3.2.4.1 Overview
- 3.2.4.2 Top Products/Product Portfolio
- 3.2.4.3 Top Competitors
- 3.2.4.4 Target Customers/End-Use Industries
- 3.2.4.5 Key Personnel
- 3.2.4.6 Analyst View
- 3.2.4.7 Market Share, 2022
- 3.2.1 ABB
- 3.3 Other Key Market Participants
- 3.4 Growth Opportunities and Recommendations
4 Research Methodology
- 4.1 Data Sources
- 4.1.1 Primary Data Sources
- 4.1.2 Secondary Data Sources
- 4.1.3 Data Triangulation
- 4.2 Market Estimation and Forecast
List of Figures
- Figure 1: Switchgear Monitoring System Market (by Region), $Million, 2022, 2026, and 2033
- Figure 2: Europe Switchgear Monitoring System Market (by Type), 2022, 2026, and 2033
- Figure 3: Europe Switchgear Monitoring System Market (by Voltage), 2022, 2026, and 2033
- Figure 4: Europe Switchgear Monitoring System Market (by Service), 2022, 2026, and 2033
- Figure 5: Switchgear Monitoring System Market, Recent Developments
- Figure 6: Average Annual Renewable Capacity Additions, Historical, and Forecasts and IEA Net-Zero Scenario, 2009-2026
- Figure 7: Supply Chain Analysis for Switchgear Monitoring System Market
- Figure 8: Patent Filed (by Country), January 2020-December 2023
- Figure 9: Patent Filed (by Company), January 2020-December 2023
- Figure 10: Impact Analysis of Switchgear Monitoring System Market Navigating Factors, 2023-2033
- Figure 11: Projected Economic Impact of IoT: $4 Trillion to $11 Trillion Annually by 2025 in Business Terms
- Figure 12: Germany Switchgear Monitoring System Market, $Million, 2022-2033
- Figure 13: France Switchgear Monitoring System Market, $Million, 2022-2033
- Figure 14: Spain Switchgear Monitoring System Market, $Million, 2022-2033
- Figure 15: U.K. Switchgear Monitoring System Market, $Million, 2022-2033
- Figure 16: Rest-of-Europe Switchgear Monitoring System Market, $Million, 2022-2033
- Figure 17: Strategic Initiatives, January 2020- February 2024
- Figure 18: Share of Strategic Initiatives, January 2020- February 2024
- Figure 19: Data Triangulation
- Figure 20: Top-Down and Bottom-Up Approach
- Figure 21: Assumptions and Limitations
List of Tables
- Table 1: Market Snapshot
- Table 2: Switchgear Monitoring System Market, Opportunities
- Table 3: Pricing Forecast of Switchgear Monitoring System Market (by Type), $/Unit, 2022-2033
- Table 4: Key Product Developments
- Table 5: Switchgear Monitoring System Market (by Region), Thousand Units, 2022-2033
- Table 6: Switchgear Monitoring System Market (by Region), $Million, 2022-2033
- Table 7: Europe Switchgear Monitoring System Market (by End User), Thousand Units, 2022-2033
- Table 8: Europe Switchgear Monitoring System Market (by End User), $Million, 2022-2033
- Table 9: Europe Switchgear Monitoring System Market (by Type), Thousand Units, 2022-2033
- Table 10: Europe Switchgear Monitoring System Market (by Type), $Million, 2022-2033
- Table 11: Europe Switchgear Monitoring System Market (by Voltage), Thousand Units, 2022-2033
- Table 12: Europe Switchgear Monitoring System Market (by Voltage), $Million, 2022-2033
- Table 13: Europe Switchgear Monitoring System Market (by Service), Thousand Units, 2022-2033
- Table 14: Europe Switchgear Monitoring System Market (by Service), $Million, 2022-2033
- Table 15: Germany Switchgear Monitoring System Market (by End User), Thousand Units, 2022-2033
- Table 16: Germany Switchgear Monitoring System Market (by End User), $Million, 2022-2033
- Table 17: Germany Switchgear Monitoring System Market (by Type), Thousand Units, 2022-2033
- Table 18: Germany Switchgear Monitoring System Market (by Type), $Million, 2022-2033
- Table 19: Germany Switchgear Monitoring System Market (by Voltage), Thousand Units, 2022-2033
- Table 20: Germany Switchgear Monitoring System Market (by Voltage), $Million, 2022-2033
- Table 21: Germany Switchgear Monitoring System Market (by Service), Thousand Units, 2022-2033
- Table 22: Germany Switchgear Monitoring System Market (by Service), $Million, 2022-2033
- Table 23: France Switchgear Monitoring System Market (by End User), Thousand Units, 2022-2033
- Table 24: France Switchgear Monitoring System Market (by End User), $Million, 2022-2033
- Table 25: France Switchgear Monitoring System Market (by Type), Thousand Units, 2022-2033
- Table 26: France Switchgear Monitoring System Market (by Type), $Million, 2022-2033
- Table 27: France Switchgear Monitoring System Market (by Voltage), Thousand Units, 2022-2033
- Table 28: France Switchgear Monitoring System Market (by Voltage), $Million, 2022-2033
- Table 29: France Switchgear Monitoring System Market (by Service), Thousand Units, 2022-2033
- Table 30: France Switchgear Monitoring System Market (by Service), $Million, 2022-2033
- Table 31: Spain Switchgear Monitoring System Market (by End User), Thousand Units, 2022-2033
- Table 32: Spain Switchgear Monitoring System Market (by End User), $Million, 2022-2033
- Table 33: Spain Switchgear Monitoring System Market (by Type), Thousand Units, 2022-2033
- Table 34: Spain Switchgear Monitoring System Market (by Type), $Million, 2022-2033
- Table 35: Spain Switchgear Monitoring System Market (by Voltage), Thousand Units, 2022-2033
- Table 36: Spain Switchgear Monitoring System Market (by Voltage), $Million, 2022-2033
- Table 37: Spain Switchgear Monitoring System Market (by Service), Thousand Units, 2022-2033
- Table 38: Spain Switchgear Monitoring System Market (by Service), $Million, 2022-2033
- Table 39: U.K. Switchgear Monitoring System Market (by End User), Thousand Units, 2022-2033
- Table 40: U.K. Switchgear Monitoring System Market (by End User), $Million, 2022-2033
- Table 41: U.K. Switchgear Monitoring System Market (by Type), Thousand Units, 2022-2033
- Table 42: U.K. Switchgear Monitoring System Market (by Type), $Million, 2022-2033
- Table 43: U.K. Switchgear Monitoring System Market (by Voltage), Thousand Units, 2022-2033
- Table 44: U.K. Switchgear Monitoring System Market (by Voltage), $Million, 2022-2033
- Table 45: U.K. Switchgear Monitoring System Market (by Service), Thousand Units, 2022-2033
- Table 46: U.K. Switchgear Monitoring System Market (by Service), $Million, 2022-2033
- Table 47: Rest-of-Europe Switchgear Monitoring System Market (by End User), Thousand Units, 2022-2033
- Table 48: Rest-of-Europe Switchgear Monitoring System Market (by End User), $Million, 2022-2033
- Table 49: Rest-of-Europe Switchgear Monitoring System Market (by Type), Thousand Units, 2022-2033
- Table 50: Rest-of-Europe Switchgear Monitoring System Market (by Type), $Million, 2022-2033
- Table 51: Rest-of-Europe Switchgear Monitoring System Market (by Voltage), Thousand Units, 2022-2033
- Table 52: Rest-of-Europe Switchgear Monitoring System Market (by Voltage), $Million, 2022-2033
- Table 53: Rest-of-Europe Switchgear Monitoring System Market (by Service), Thousand Units, 2022-2033
- Table 54: Rest-of-Europe Switchgear Monitoring System Market (by Service), $Million, 2022-2033
- Table 55: Market Share, 2022
