DUBLIN, Oct. 24, 2024 (Globe Newswire) — “European Switchgear Monitoring Systems Market: Focus on Products, Applications and Countries – Analysis and Forecast, 2023-2033” report is a service of ResearchAndMarkets.com added to.
The European Switchgear Monitoring Systems Market was valued at $660.2 million in 2023 and is expected to reach $1.51 billion by 2033, at a CAGR of It is 8.65%.
Switchgear monitoring systems are rapidly expanding in the European market due to important characteristics that facilitate their adoption in various industries. The main factor is the increasing need for reliable and efficient power distribution solutions as companies modernize and expand. Modern switchgear monitoring systems are essential to ensure constant power, monitor machine health and avoid future breakdowns.
The European switchgear monitoring systems market is expanding significantly due to the increasing need for reliable power distribution systems across various industries. As the industry grows and upgrades, ensuring consistent and effective power flow has become critical. Switchgear monitoring systems are essential to maintain the integrity and performance of electrical machines, spot problems, and avoid costly downtime.
The need for sophisticated switchgear monitoring systems is further heightened by the growing use of smart grid infrastructure and the incorporation of Internet of Things (IoT) technology in European electricity distribution networks. These technologies enable real-time monitoring, data analysis, and predictive maintenance, further increasing the reliability and efficiency of power distribution.
Additionally, Europe’s emphasis on sustainability and energy efficiency has led companies to invest in monitoring systems that minimize energy losses and maximize power consumption. Demand for greener operations and compliance with strict energy regulations is also fueling the expansion of this market. The demand for more intelligent, effective and sustainable power management solutions is predicted to fuel the European switchgear monitoring systems market as long as technology improvements continue.
What value does this report bring to your organization?
Product/Innovation Strategy: Product segments help readers understand different switchgear monitoring systems. Additionally, this study provides readers with an in-depth understanding of the European Switchgear Monitoring Systems market based on end users (utilities, industrial, commercial, etc.). Additionally, there is a growing demand for reliable and cost-effective switchgear monitoring systems. Manufacturers have the opportunity to design and manufacture next-generation switchgear with advanced monitoring and diagnostic capabilities.
Growth/Marketing Strategies: The European Switchgear Monitoring Systems market is witnessing significant development by the major players operating in the market, including business expansions, partnerships, alliances, mergers & acquisitions, and joint ventures. The strategies favored by both companies were product development, business expansion, and acquisitions to strengthen their positions in the European switchgear monitoring systems market.
Competitive Strategies: Key players in the European Switchgear Monitoring Systems market analyzed and profiled in this study include Switchgear Monitoring Systems manufacturers and the entire ecosystem. Additionally, a detailed competitive benchmarking of the players operating in the European Switchgear Monitoring Systems market is carried out to help readers understand how the players compete with each other and present a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations help readers understand the untapped revenue sources of the market.
Overview of key market players and competition
ABBS Siemens Schneider Electric Eaton
Market segmentation:
end user
Public works industrial other
type
Air-insulated switchgear Gas-insulated switchgear
Voltage
Low voltage medium voltage high voltage and special voltage
service
Partial discharge monitoring Gas monitoring Temperature monitoring Others
region
Germany France Spain United Kingdom Rest of Europe
Key attributes:
Report attribute details No. Forecast period 2023 to 2033 Estimated market value in 2023 (US$) 660.2 million US$ Predicted market value by 2033 (US$) 1514.1 million Average annual growth rate 8.6% Target region europe
Main topics covered:
1 market
1.1 Trends: Current and future impact assessments
1.1.1 Trends Shaping the Switchgear Monitoring Systems Market
1.1.2 Increase in electricity demand
1.1.3 Integrating digital technologies and the 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 Systems Market – Products (By Type)
1.2.2.1.1 Air-insulated switchgear
1.2.2.1.2 Gas-insulated switchgear
1.2.3 Price prediction
1.3 Research and development review
1.3.1 Patent application trends (by country/company)
1.4 Regulatory status
1.5 Stakeholder analysis
1.5.1 Usage example
1.5.2 End users and purchasing criteria
1.5.2.1 Utility companies
1.5.2.2 Industrial facilities
1.5.2.3 Commercial buildings
1.6 Impact analysis of major world events
1.6.1 New Coronavirus Pandemic
1.6.2 Russia-Ukraine conflict
1.6.3 Middle East Crisis
1.7 Major developments and ongoing projects
1.8 Overview of market trends
1.8.1 Market Drivers
1.8.1.1 Aging electrical infrastructure
1.8.1.2 Advances in IoT and sensor technology
1.8.2 Market constraints
1.8.2.1 High implementation costs and complex data management
1.8.3 Market opportunities
1.8.3.1 Renewable energy integration
two regions
2.1 Regional overview
2.2 Europe
2.2.1 Major market participants in Europe
2.2.2 Business drivers
2.2.3 Business challenges
2.2.4 Application
2.2.5 Products
2.2.6 Germany
2.2.7 Application
2.2.8 Products
2.2.9 France
2.2.10 Application
2.2.11 Products
2.2.12 Spain
2.2.13 Application
2.2.14 Products
2.2.15 United Kingdom
2.2.16 Application
2.2.17 Products
2.2.18 Rest of Europe
2.2.19 Application
2.2.20 Products
Three Markets – Competitive Benchmarks and Company Profile
3.1 Competitive environment
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 perspective
3.2.1.7 Market Share, 2022
3.2.2 Siemens
3.2.3 Schneider Electric
3.2.4 Eaton
3.3 Other major market participants
3.4 Growth opportunities and recommendations
4 Research methods
For more information on this report, please visit https://www.researchandmarkets.com/r/mcg5o7.
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European switchgear monitoring system market
