Australia Switchgear Market Size, Share, and COVID-19 Impact Analysis, By Voltage Class (High Voltage and Medium Voltage), By End User (Utilities, Residential & Commercial, and Industrial), and Australia Switchgear Market Insights, Industry Trend, Forecasts to 2033

Australia Switchgear Market Insights Forecasts to 2033

• The Australia Switchgear Market Size was valued at USD 1.44 Billion in 2023.
• The Market is Growing at a CAGR of 5.67% from 2023 to 2033
• The Australia Switchgear Market Size is Expected to Reach USD 2.50 Billion by 2033

The Australia Switchgear Market is Anticipated to exceed USD 2.50 Billion by 2033, growing at a CAGR of 5.67% from 2023 to 2033. The nation's ability to incorporate renewable power-producing units into the grid is anticipated to drive demand for high-voltage in the Australia switchgear market.   

Market Overview

The industry in Australia that deals with the design, production, distribution, and installation of electrical switchgear equipment is known as the "Australia switchgear market." Switchgear is a group of electrical devices used in power systems for the isolation, control, and protection of electrical equipment. The manufacturing, supply, and maintenance services sectors are represented in the Australian switchgear market. The switchgear market in Australia ensures that electrical circuits are adequately secured against faults, overheating, and short circuits while also assisting in the safe distribution of electricity. The transmission and distribution of power, are anticipated to drive the Australia switchgear market. This is attributed to the rising electricity generation and consumption as well as shifting dynamics in the power generation sector. To guarantee operational safety and security, government mandates are also driving market expansion for industrial companies looking to replace antiquated systems. The extension or replacement of outdated switchgear at sub-stations and the growing energy demand are the primary factors driving the growth of Australia switchgear market.        

Report Coverage

This research report categorizes the market for the Australia switchgear market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Australia switchgear market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Australia switchgear market.

Driving Factors

The demand for electrical networks for residential and commercial utilities, as well as the expansion and improvement of electrification infrastructure, are the main factors driving the Australia switchgear market. Australia's aggressive renewable energy goals and related infrastructure improvements are among the primary variables driving the growth of Australia switchgear market. The industry is expanding steadily due to strict environmental and regulatory compliance, the necessity to repair old electrical infrastructure, and the incorporation of renewable energy. The demand for upgrading and replacing outdated electrical infrastructure is an important factor driving the industry.    

Restraining Factors

High upfront capital costs, intricate installation and maintenance requirements, strict regulatory standards, slow adoption of cutting-edge technologies, and labor scarcity are some of the factors that are restricting the growth of the Australia switchgear market.

Market Segmentation

The Australia switchgear market share is classified into voltage class and end user.    

• The high voltage segment accounted for the largest share of the Australia switchgear market in 2023 and is anticipated to grow at a significant CAGR during the forecast period       

On the basis of voltage class, the Australia switchgear market is divided into high voltage and medium voltage. Among these, the high voltage segment accounted for the largest share of the Australia switchgear market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growing need for power transmission, infrastructure expansion, and renewable energy projects all of which necessitate high-voltage switchgear solutions for effective and secure power distribution are driving the high-voltage segment.   

• The industrial segment accounted for the largest share of the Australia switchgear market in 2023 and is anticipated to grow at a significant CAGR during the forecast period       

On the basis of end user, the Australia switchgear market is divided into utilities, residential & commercial, and industrial. Among these, the industrial segment accounted for the largest share of the Australia switchgear market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The industrial segment is driven by the growing need for power distribution solutions in industries like mining, manufacturing, and energy production that depend on sturdy and dependable switchgear systems to operate safely.   

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Australia switchgear market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Schneider Electric SE
• ABB Ltd.
• Siemens AG
• Eaton Corporation PLC
• Tamco Switchgear Malaysia SDN BHD
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In April 2024, the 'Future Made in Australia Act' was launched by the Australian government to utilize Australia's abundant clean energy resources and leverage the global renewable energy transition. The plan's main objectives are to assist sectors like battery manufacture and renewable hydrogen, improve supply chain resilience, and move toward a carbon-neutral economy.   

• In August 2022, In Australia, Schneider Electric, a pioneer in the digital revolution of energy automation and management, launched its new line of green and digital medium voltage switchgear. 

Market Segment

This study forecasts revenue at Australia, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Australia switchgear market based on the below-mentioned segments:

Australia Switchgear Market, By Voltage Class  

• High Voltage
• Medium Voltage

Australia Switchgear Market, By End User

• Utilities
• Residential & Commercial
• Industrial