Market Size of Australia Switchgear Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.44 Billion |
| Market Size (2029) | USD 1.9 Billion |
| CAGR (2024 - 2029) | 5.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Switchgear Market Analysis
The Australia Switchgear Market size is estimated at USD 1.44 billion in 2024, and is expected to reach USD 1.9 billion by 2029, growing at a CAGR of 5.70% during the forecast period (2024-2029).
Increasing electricity generation and consumption and the changing dynamics in the power generation industry are expected to be the major drivers for the transmission and distribution of power, which are expected to drive the Australian switchgear market during the forecast period.
- The primary drivers of the Australian switchgear market are the upgradation and expansion of the electrification infrastructure and the demand for electrical networks for industrial and residential utilities. The rise in the demand for renewable energy sources is also one of the primary driving factors.
- The market is growing due to rising infrastructure development costs and legislative restrictions on extending the power grid in rural areas. Government directives are also driving market expansion to replace outdated systems in industrial organizations to ensure operational safety and security.
- Eastern Australia's National Electricity Market (NEM) operates the world's most extensive interconnected power system that runs for more than 5,000 km from North Queensland to Tasmania and central South Australia and meets the demand of more than 10 million end users. This is expected to drive the demand for switchgear during the forecast period.
- The Australian switchgear market was significantly impacted by the COVID-19 pandemic, as major suppliers of raw materials and finished products were hugely affected. The industry faced a reduction in production, disruption in the supply chain, and price fluctuations. The impact of the pandemic on the country's power sector also affected the industry.
Australia Switchgear Industry Segmentation
A switchgear, integral for power system protection, regulates, switches, and controls electrical circuits. Its components include circuit breakers, isolators, relays, switches, fuses, and control panels. Switchgear plays a crucial role in de-energizing equipment for testing, maintenance, and fault clearance.
The Australian switchgear market is segmented by voltage class (high voltage, medium voltage, and low voltage) and end user (utilities, residential and commercial, and industrial). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Voltage Class | |
| High Voltage | |
| Medium Voltage |
| By End User | |
| Utilities | |
| Residential and Commercial | |
| Industrial |
Australia Switchgear Market Size Summary
The Australian switchgear market is poised for significant growth, driven by the increasing demand for electricity and the evolving dynamics within the power generation sector. The market is expected to expand as the country focuses on upgrading and expanding its electrification infrastructure to support both industrial and residential utilities. The push towards renewable energy sources further propels this growth, as the integration of renewable power generation units into the grid becomes a priority. Government initiatives aimed at replacing outdated systems and enhancing operational safety are also contributing to the market's expansion. The National Electricity Market in Eastern Australia, one of the world's largest interconnected power systems, plays a crucial role in meeting the energy demands of millions, thereby driving the demand for switchgear.
The market's growth is further supported by the rising infrastructure development costs and regulatory measures that encourage the replacement of old switchgear at substations. High-voltage switchgear, including gas-insulated and air-insulated types, is particularly in demand due to its space optimization and low maintenance benefits. The Australian government's reforms to ensure supply security and the ambitious renewable energy targets outlined in the Australian Long-Term Emissions Reduction Plan are expected to bolster the market. The fragmented nature of the market, with key players like ABB Ltd, Schneider Electric SE, and Tamco Switchgear Malaysia SDN BHD, indicates a competitive landscape. Recent advancements, such as the installation of climate-neutral switchgear and the development of high-voltage direct current projects, highlight the industry's commitment to innovation and sustainability.
Australia Switchgear Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Intensity of Competitive Rivalry
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1.2.5 Threat of Substitute Products
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1.3 Industry Value Chain Analysis
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1.4 Assessment of the Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Voltage Class
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2.1.1 High Voltage
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2.1.2 Medium Voltage
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2.2 By End User
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2.2.1 Utilities
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2.2.2 Residential and Commercial
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2.2.3 Industrial
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Australia Switchgear Market Size FAQs
How big is the Australia Switchgear Market?
The Australia Switchgear Market size is expected to reach USD 1.44 billion in 2024 and grow at a CAGR of 5.70% to reach USD 1.9 billion by 2029.
What is the current Australia Switchgear Market size?
In 2024, the Australia Switchgear Market size is expected to reach USD 1.44 billion.
