- The infographic offers a comprehensive overview of the medium voltage (MV) switchgear markets in China and India, encompassing switchgear ranging from 1-42 kV, vital for electricity distribution, generation plants, including solar PV and wind, as well as industrial electricity distribution.
- Together, China and India command almost 80% of the annual switchgear demand in the Asia Pacific (APAC) region, underscoring their pivotal role in driving regional growth.
- Despite its already substantial market presence, China is anticipated to undergo significant growth, reinforcing its status as a key switchgear market.
- India, though smaller in comparison, is experiencing rapid growth and is poised to emerge as a crucial manufacturing hub for switchgear.
MV Switchgear Market Drivers in China and India
Installed Supply Forecasts [GW]
PTR anticipates that China and India will significantly expand their installed electricity capacity between 2023 and 2030 to accommodate their growing electricity demand.
The utility-scale solar PV and wind sectors will experience the fastest growth.
In 2020, China committed to achieving 1,200 GW of renewable capacity by 2030 but is on pace to reach this target five years ahead of schedule.
By 2030, China has announced its goal to achieve 3 TW of solar PV and wind capacity, while India has set an ambitious target of 500 GW.
Installed Demand Forecasts [TWh]
China is expected to see a 1.5x increase in power demand between 2023 and 2030. At the same time, India is projected to experience a 1.4x increase in power demand over the same period.
This demand surge will be driven by urbanization, industrial growth, data centers, and electric vehicles (EVs).
By 2030, China’s energy demand from EV charging is forecasted to be 55 times greater than India’s, with China experiencing an 11-fold increase and India seeing a 40-fold increase in energy demand for EV charging compared to their respective levels in 2023.
Additionally, PTR estimates that power requirements for data centers in both China and India will double by 2030.
MV Switchgear Market Snapshot of China and India
China: Annual Units Market
China’s urbanization is driving demand for housing, buildings, and infrastructure, requiring reliable MV switchgear.
To achieve carbon neutrality by 2060, China plans to invest USD 3.6 trillion in renewables by 2030.
GIS usage is expected to increase due to its role in renewables and underground distribution.
Solid insulated switchgear will capture a small market share, particularly in data centers.
India: Annual Units Market
India aims to boost offshore wind capacity to 30 GW by 2030 and add 500 GW of renewables by then. It targets cutting 1 billion tons of emissions by 2030 and reaching net-zero carbon emissions by 2070.
Plans include expanding railways and semiconductor manufacturing. T&D expansion is underway, and EV growth is supported by a USD 631 million investment in hybrid and electric vehicles under the FAME-II scheme.
AIS and GIS are expected to share the market, with GIS used in renewables.
Major companies are investing in manufacturing to make India a regional export hub.
Medium Voltage Switchgear Service Overview
The research presented in this article is from PTR's Medium Voltage Switchgear market research. For information about this service please submit a request shown below.
Europe: +49-89-12250950
Americas: +1 408-604-0522
Japan: +81-80-7808-1378
GCC/Rest of APAC: +971-58-1602441
More About our: Medium Voltage Switchgear Market Analysis
Recent Insights
Riding the Wind: Fueling MV Switchgear Growth with Aggressive Energy Targets
A set of European countries are moving to deploy offshore wind farms in the North Sea which is expected to drive the demand for medium-voltage switchgear in the EU. This infographic sheds light on recent developments that have accelerated the shift towards renewable...
COP28’s Global Stocktake: A Pivotal Undertaking?
The global stocktake, a quinquennial undertaking, functions as a meticulous inventory of worldwide initiatives in climate action and support, with its inaugural culmination slated for COP28 in a bid to influence the ensuing round of nationally determined contributions...
COP28: Balancing Hope and Skepticism in Climate Talks
The Conference of the Parties (COP) is the primary decision-making body of the United Nations Framework Convention on Climate Change (UNFCCC). This annual gathering of member states focuses on addressing global climate change. In the lead up to COP28, amid the rising...
The EU’s F-Gas Ban Sparks Soaring Demand for SF-6 Alternative Solutions in MV Switchgear
The SF6-alternative switchgear market in Europe is poised for significant growth due to the recent ban imposed by the EU parliament on the sale of SF6 switchgear. SF6 gas, despite its widespread usage, has been found to possess a remarkably high greenhouse warming...
Overview of the European HV Switchgear Market
The High Voltage (HV)* Switchgear market in Europe has rebounded from the pandemic-induced revenue slump in 2021 and is expected to continue growing steadily until 2027.[ba_advanced_divider active_element="text" title="High Voltage Switchgear Service Overview"...
Key Drivers Instigating MV (Medium Voltage) Switchgear Demand in Middle-East & Africa (MEA)
The Middle East and Africa (MEA) region is poised for remarkable growth in the medium voltage (MV) air-insulated switchgear (AIS) and MV gas-insulated switchgear (GIS) markets. With increasing generation capacity, infrastructure projects, and electricity demand, MEA...
Solid State Technology to Streamline Global Transition to Clean Energy
The electrical power system of a country generally consists of generators, high voltage transmission lines that stretch hundreds of miles followed by distribution lines that span millions of miles in order to serve a range of consumers. Existing grid infrastructure...