Switchgear Monitoring System Market Development, Key Opportunity, Application and Forecast to 2029

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Switchgear Monitoring System: Introduction

Switchgear monitoring system is a monitoring and diagnostic unit, which provides mechanical and electrical health status of a fleet lineup
Switchgear monitoring system employs a variety of sensors and software to monitor, diagnose, and control switchgear devices from a pre-specified safe location outside the arc flash boundary
Switchgear monitoring system provides an on-line continuous monitoring into the condition of the equipment. High voltage switchgear monitoring system monitors various values of switchgear apparatuses such as circuit breakers, earthing switches, disconnectors, and instrument transformers.
Switchgear monitoring system is usually installed to monitor the apparatuses of the air insulated switchgear (AIS) and monitor the gas insulated switchgear (GIS)

Increase in digitization in the power industry is fueling the adoption of smart and secure electric infrastructure. It is also leading to creation of new communication hubs and data centers. This has increased the rate of energy consumption. Hence, a more efficient energy network is required for continuous operations of these data hubs, as governments are increasingly relying on real time data analysis for their decisions. In turn, this is estimated to increase the use of switch gear monitoring systems during the forecast period.
Switchgear monitoring system is also considered environmentally friendly, as it helps prevent the leakage of SF6 gas, which is considered a greenhouse gas. This is expected to drive the global switchgear monitoring system market.
Almost half a million villages and towns across the globe are without reliable and affordable electricity. Switchgear monitoring system can be deployed in a specific regional or nation-wide energy system with the additional objective to stabilize the grid in order to mitigate the failure chances of the electrical components. This would help improve the security of energy supplies. Such benefits are estimated to drive consumer preference for these systems, thereby driving the switchgear monitoring system market.

In April 2019, ABB introduced its low-voltage MNS innovations that enable safe, flexible, and smart electrical distribution at Hannover Messe, one of the world’s largest trade fairs in Germany. With its smart condition-based monitoring, ABB announced that it allows customers to extend maintenance intervals by up to 30%. As part of the ABB Ability portfolio of connected devices, these solutions offer improved performance and reliability throughout the entire lifetime of the assets, thus allowing customers to increase maintenance intervals by up to 30%.
Gas grid operators in the European Union plan to build up to 17 renewable switchgear monitoring system projects by 2025, as part of efforts to cut CO2 and keep their grids in use as the EU moves away from natural gas

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Based on region, the global switchgear monitoring system market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
Asia Pacific is expected to hold major share of the global switchgear monitoring system market during the forecast period. Switchgear monitoring system technology is estimated to play a significant role in stabilizing the region’s energy supply and offsetting fluctuating power generation from sources of renewable energy. Demand for switchgear monitoring system technology has been rising significantly in China and India.
North America is also an important region of the global switchgear monitoring system market. Demand for switchgear monitoring system in the region is driven primarily by the rise in demand for electricity reliability for commercial applications and stabilization of the power generation capacity.

The global economy has been hampered by the measures put in place to contain the COVID-19 pandemic. The power generation industry is estimated to face immediate challenges due to the COVID-19 pandemic such as difficulty in adhering to the social distancing norms, shortage of manpower, lack of parts & equipment, and discerning expenditure by end-users.