Gautam Seth Joint Managing Director, HPL Electric & Power Limited

Demand for Switchgears on Rise, Despite Roadblocks During Pandemic

By Gautam Seth – Joint Managing Director

Switchgear, a crucial component in an electric power system, is witnessing a rising demand now and also potentially in the future owing to increasing demand for electricity globally. Switchgear is an electrical component made up of electrical disconnect switches, fuses or circuit breakers. Not only did the pandemic stall the growth of businesses, compounded by the consequences of a weak supply chain, but also the closure of factories and other non-essential industries led to a significant negative impact on the global market for switchgear.
The pandemic had the greatest influence on the supply side of the market, resulting in a considerable drop in the production and procurement of critical raw materials, such as copper, aluminum, iron, cobalt, phosphate, alloys, steel, and others, needed in the development of switchgear. According to the International Energy Agency, global energy investment declined by around 20% to USD 1,520 billion in 2020, mainly due to the outbreak of COVID-19 leading to a global economic slowdown combined with decreased energy demand due to various COVID-19 related lockdowns around the world. But now, as per the current scenario with an increase in investments in electric transmission system projects the market has bounced back and the switchgear industry is witnessing a constant growth.
Consumers are preferring technologically advanced switchgears. To cater to the rising demand for technologically advanced switchgears, we are focusing and launching a range of products. Increase in global electricity production and high usage of renewable sources of energy are boosting the growth of the energy and utility sector, which is the main factor driving demand for switchgear, and thereby creating significant demand for switchgear monitoring systems. The rising demand for electricity in emerging regions is driving demand for power maintenance systems indicating that the switchgear market has a lot more potential in the coming years. According to a recent analysis by strategic consulting and market research firm, the market is expecting a growth at a CAGR of 7.7%, generating revenue of USD 21,413.8 million by the end of 2027.
Demand for switchgear monitoring systems is the result of excessive use and sales of switchgear. Energy generation and more demand for energy across the globe is impacting the market share of switchgear and monitoring systems. Urbanization and industrial development in developing countries is creating more scope for the growth of the market.
As, HPL is a well-established brand with a proven track record of over four decades in Indian electrical industry. We have bagged many contracts and orders for switchgears. Such achievements are big win for us, strengthening our position as one of the country’s major electrical equipment manufacturers.
Recently we have launched three new switchgear products that is DC Switch Disconnector up to 1500 V Dc and 800 V AC in 2, 3 and 4 Pole configuration at 14th Edition of Renewable Energy Expo 2021. These products are best-in-class offer latest technology and innovative design for long-term durability. The USP of the recent product launched are they can be used in solar/ PV applications as well as traditional PV applications.
The load break switch is a high-performance, well-built switch with a small footprint. From low voltage to 800V AC, it provides safe isolation. Furthermore, the switches include an inbuilt safety feature. This provide efficiency that leads to low power losses. The new DC Disconnectors are designed specifically for PV applications and are extremely durable.
Demand for switchgear monitoring systems has shown significant growth over the years. Competition has grown among manufacturers, and we are aiming to provide monitoring systems that give real-time working conditions of switchgear with convenient and easy access.

Leave a Reply