Australia Switchgear Market Report and Forecast 2024-2032

Australia Switchgear Market Outlook

The Australia switchgear market size reached approximately USD 1.27 billion in 2023. The market is estimated to grow at a CAGR of 5.9% in the forecast period of 2024-2032, reaching a value of around USD 2.12 billion by 2032.

Key Trends in the Market

Switchgear encompasses electrical devices such as fuse, relays, switches, and circuit breakers that are responsible for controlling the electrical equipment in a power system. They can also disconnect or isolate the equipment during the occurrence of faults or for testing purposes.

• Growing integration of eco-friendly switchgear in power systems, which do not contain SF6, is one of the crucial Australia switchgear market trends. Such systems involve the usage of clean or dry air as an alternative to SF6 and other greenhouse gases to reduce the overall carbon footprint and provide an environmentally friendly solution.

• Smart switchgear is gaining prominence in Australia as it enhances the efficiency, reliability, and safety of a power system. It mainly consists of sensors and intelligent electronic devices (IEDs) for advanced diagnostics to ensure the safety and proper functioning of the system. It also offers real-time monitoring and predictive maintenance capabilities for the timely detection of faults and system failures.

• Favourable strategies by market players to increase the production of digital switchgear also contribute to the Australia switchgear market growth. For example, in August 2022, Schneider Electric launched a medium voltage digital switchgear range in Australia which possesses shunt vacuum interruption (SVI) and pure air insulation technology as a leap towards sustainability.

Market Analysis

Based on voltage, the market is divided into low, medium, and high. On the basis of installation, the market is bifurcated into indoor and outdoor. The Australia switchgear market segmentation, based on insulation, includes gas, and air, among others. On the basis of end use, the market is classified into utilities, residential and commercial, and industrial.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Australia switchgear market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Schneider Electric SE

• Siemens AG

• ABB Ltd.

• Eaton Plc

• Hitachi Ltd.

• Toshiba Corp.

• Mitsubishi Electric Corp. 

• RPS Switchgear Limited

• Tamco Switchgear Malaysia SDN BHD

• Insulect Australia Pty Ltd.

• Others

Market Share by Voltage

High-voltage switchgear occupies a significant portion of the Australia switchgear market share, due to its widespread utilisation in office and commercial buildings, among others. There is also a surge in the integration of these switchgear with renewable energy systems.

For instance, the Australian Energy Market Operator (AEMO) presented a 30-year roadmap, in which the electricity consumption of the country from the grid is expected to double by 2050, presenting lucrative growth opportunities for the segment.

Additionally, high-voltage gas-insulated switchgear is popular for indoor purposes, due to its compact size as well as lower carbon footprint compared to air-insulated switchgear, which further provides a positive market outlook.

Market Share by End Use

As per the Australia switchgear market analysis, commercial and industrial sectors account for a major market share, due to the growing industrialisation in the country. The rising adoption of smart grids is also expected to fuel the demand for smart switchgear for efficient power supply and transmission.

There is also a surge in the establishment of data centres, which is expected to boost the requirement for switchgear that can provide reliable electricity. Moreover, the residential sector is expected to witness robust growth in the coming years, owing to rapid urbanisation and high electricity demand.

Competitive Landscape

Schneider Electric SE is a multinational digital automation and energy management company, founded in 1836 and based in Rueil-Malmaison, France. The company offers a comprehensive range of software for data centre, grid and substation management, industrial automation, and power distribution management, among others. It mainly addresses the needs of buildings, data centres, and industrial sectors through its products and services.

Siemens AG, established in 1847 and headquartered in Munich, Germany, is a multinational technology company. It offers its services to industry verticals such as aerospace, automotive manufacturing, battery manufacturing, commercial buildings, and machinery and plant construction, among others. The major subdivisions of the company are digital industries, financial services, and smart infrastructure, among others.

Toshiba Corp, incorporated in 1875, is an electronics corporation, with its headquarters in Tokyo, Japan. The company is well known for its digital solutions, electronic devices, and energy solutions across the world. It has reduced its carbon emission during the manufacturing process by over 20% as an initiative towards sustainability.

Other Australia switchgear market players include ABB Ltd., Eaton Plc, Hitachi Ltd., Mitsubishi Electric Corp., RPS Switchgear Limited, Tamco Switchgear Malaysia SDN BHD, and Insulect Australia Pty Ltd., among others.

Key Highlights of the Report