Report Overview

Singapore Switchgear Market – Industry Trends & Forecast Report, 2030

Singapore Switchgear Market size by value was estimated at USD 1,245.9 million in 2023. During the forecast period between 2024 and 2030, Singapore Switchgear Market size is expected to expand at a CAGR of 6.40% reaching a value of USD 1,929.7 million by 2030. Major factors driving the growth of Singapore Switchgear Market include the rising demand for reliable and efficient electrical infrastructure due to urbanization and industrialization, increased investments in smart grid technology, government initiatives to upgrade aging electrical networks, and the growing adoption of renewable energy sources. Additionally, advancements in switchgear technology, such as digital and automated systems, contribute to market growth by enhancing operational efficiency and safety in electrical distribution and transmission.

Switchgear Market – Overview

The switchgear market encompasses equipment used to control, protect, and isolate electrical circuits and equipment. It includes devices like circuit breakers, fuses, and relays, essential for managing power distribution in industrial, commercial, and residential settings. Singapore Switchgear Market is driven by the growing demand for reliable and efficient power supply, expansion of the renewable energy sector, and modernization of aging infrastructure. Technological advancements and increasing investments in smart grid projects further propel the growth of Singapore Switchgear Market.

Singapore Switchgear Market  

Growth Drivers

Growth of Smart Electricity Grid Infrastructure

The expansion of smart electricity grid infrastructure in Singapore is significantly driving the switchgear market. As the city-state focuses on enhancing its energy efficiency and integrating renewable energy sources, the demand for advanced switchgear systems has surged. These systems are essential for managing complex power distribution networks, ensuring reliability, and reducing operational costs. Government initiatives and investments in smart grid projects further bolster this growth, positioning Singapore as a leader in smart energy solutions.

Challenges

Downturn in Construction Industry

Singapore Switchgear Market is experiencing a decline due to a downturn in the construction industry. Reduced construction activities, driven by economic uncertainties and decreased investment in infrastructure projects, are impacting the demand for switchgear. As construction projects are major consumers of switchgear products, the slowdown in this sector directly translates to diminished market growth, posing challenges for manufacturers and suppliers in the industry.

Impact of Escalating Geopolitical Tensions on Singapore Switchgear Market  

The Russia-Ukraine war has exacerbated global supply chain disruptions, leading to shortages of critical raw materials like copper and aluminum. Sanctions in Russia have exacerbated these issues, inflating material costs. Rising energy prices and trade uncertainties with China further strain production costs, impacting the growth of Singapore Switchgear Market.

Singapore Switchgear Market

Segmental Information  

Singapore Switchgear Market  – By Installation

By installation, Singapore Switchgear Market is divided into Indoor and Outdoor segments. Indoor segment is a larger contributor to the growth of Singapore Switchgear Market. The segment’s dominance is driven by the high demand for indoor switchgear in commercial buildings, residential complexes, and industrial facilities due to space constraints and the need for reliable, safe, and efficient power distribution systems. Additionally, indoor switchgear offers advantages like better protection from environmental factors and ease of maintenance, further bolstering its market share in Singapore.

Singapore Switchgear Market  – By Insulation Type

Based on insulation type, Singapore Switchgear Market is divided into Air Insulated and Gas Insulated segments. The air-insulated segment holds a larger share in Singapore Switchgear Market. This dominance is attributed to its cost-effectiveness, ease of maintenance, and suitability for a wide range of applications in commercial, industrial, and residential sectors. Air-insulated switchgear systems are preferred for their simplicity and safety features, making them a popular choice for electrical distribution and control systems in Singapore's growing infrastructure and urban development projects.

Singapore Switchgear Market  – By Voltage

On the basis of voltage, Singapore Switchgear Market is divided into Low, Medium, and High segments. The medium voltage switchgear segment is the largest in Singapore Switchgear Market, due to its widespread application in industrial, commercial, and utility sectors. The growing demand for reliable and efficient power distribution systems, coupled with the need for modernization and expansion of existing infrastructure, contributes to the segment's prominence. Additionally, the emphasis on safety, operational efficiency, and integration of renewable energy sources further bolsters the demand for medium-voltage switchgear in Singapore.

Singapore Switchgear Market – By End User

By end user, Singapore Switchgear Market is divided into Transmission & Distribution (T&D) Utilities, Industries, and Commercial & Residential segments. The transmission & distribution utilities segment is the largest end user in Singapore Switchgear Market. The dominance is due to the significant investments in upgrading and expanding the country's electrical grid infrastructure to meet growing energy demands. The focus on enhancing grid reliability, integrating renewable energy sources, and ensuring efficient power distribution contributes to the dominance of the transmission & distribution utilities segment in Singapore Switchgear Market.

Competitive Landscape

Key players in the highly competitive Singapore Switchgear Market include E-Abel, Schneider Electric, Socomec, PT Sapem, Element14, Focke, Legrand, and Chint. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In April 2022 – Siemens AG supplied EWE NETZ GmbH, with a new switchgear technology. In addition, EWE NETZ completed the installation of an advanced medium voltage switchgear in the Brake, featuring seven fluorine gas-free NXPLUS C 24 circuit breaker panels from Siemens green-blue GIS line.

Scope of the Report

By Installation

• Indoor

• Outdoor

By Insulation Type

• Air Insulated

• Gas Insulated

By Voltage

• Low

• Medium

• High

By Current

• AC

• DC

By End User

• Transmission & Distribution (T&D) Utilities

• Industries

• Commercial & Residential

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Singapore Switchgear Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growth of Smart Electricity Grid Infrastructure
         2. Growing Focus on Infrastructure and Renewable Energy Sources
         3. Rising Demand for Electricity in Developing Economies
      2. Restraints
         1. Downturn in Construction Industries
         2. High Initial Investment Costs
      3. Opportunities
         1. Increasing Stringency of Regulations
         2. Advancements in Switchgear Technology
      4. Challenges
         1. Maturity in Developed Markets
         2. Availability of Low-Cost Alternatives
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Singapore Switchgear Market: Marketing Strategies
5. Singapore Switchgear Market: Pricing Analysis
6. Singapore Switchgear Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Installation
         1. Indoor
         2. Outdoor
      2. By Insulation Type
         1. Air Insulated
         2. Gas Insulated
         3. Others
      3. By Voltage
         1. Low
         2. Medium
         3. High
      4. By Current
         1. AC
         2. DC
      5. By End User
         1. Transmission & Distribution (T&D) Utilities
         2. Industries
         3. Commercial & Residential
         4. Others
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Singapore Switchgear Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on Singapore Switchgear Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. E-Abel
   2. Schneider Electric
   3. Socomec
   4. PT Sapem
   5. Element14
   6. Focke
   7. Legrand
   8. Chint
   9. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1.  Primary & Secondary Research
    2.   Quantitative Research
    3.   Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5.   Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Singapore Switchgear Segmentation

Figure 2       Singapore Switchgear Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Singapore Switchgear Market Size, By Value (USD Million), 2019–2030

Figure 5       Singapore Switchgear Market Share, By Installation, By Value, 2019–2030

Figure 6       Singapore Switchgear Market Share, By Insulation Types, By Value, 2019–2030

Figure 7       Singapore Switchgear Market Share, By Voltage, By Value, 2019–2030

Figure 8       Singapore Switchgear Market Share, By Current, By Value, 2019–2030

Figure 9       Singapore Switchgear Market Share, By End User, By Value, 2019–2030

List of Tables

Table 1        Singapore Switchgear Market Size, By Value (USD Million), 2019–2030

Table 2        Singapore Switchgear Market Size, By Installation, By Value, 2019–2030

Table 3        Singapore Switchgear Market Size, By Insulation Types, By Value, 2019–2030

Table 4        Singapore Switchgear Market Size, By Voltage, By Value, 2019–2030

Table 5        Singapore Switchgear Market Size, By Current, By Value, 2019–2030

Table 6        Singapore Switchgear Market Size, By End User, By Value, 2019–2030

Table 7        E-Abel Company Overview

Table 8        E-Abel Financial Overview

Table 9        Schneider Electric Company Overview

Table 10      Schneider Electric Financial Overview

Table 11      Socomec Company Overview

Table 12      Socomec Financial Overview

Table 13      PT Sapem Company Overview

Table 14      PT Sapem Financial Overview

Table 15      Element14 Company Overview

Table 16      Element14 Financial Overview

Table 17      Focke Company Overview

Table 18      Focke Financial Overview

Table 19      Legrand Company Overview

Table 20      Legrand Financial Overview

Table 21      Chint Company Overview

Table 22      Chint Financial Overview