New Zealand Switchgear Market (2024-2030) | Outlook, Trends, Forecast, Growth, Industry, Share, Value, Size, Revenue, Analysis & Companies

Topics Covered in the New Zealand Switchgear Market

New Zealand Switchgear Market report thoroughly covers the market by voltage, by insulation, and by applications. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

New Zealand Switchgear Market Synopsis

New Zealand Switchgear Market is dynamic and ever-evolving industry. With an increasing focus on renewable energy, the demand for smart grids and efficient transmission and distribution networks has never been higher. Factors such as electrification, industrialization, and urbanization continue to shape the market, with new players entering and existing ones expanding their portfolios.

According to 6Wresearch, the New Zealand Switchgear Market size was valued at US$ 389.8 million and is expected to grow at a CAGR of 6.6% during the forecast period of 2024-2030. One of the primary drivers of the switchgear market in New Zealand is the government's push towards renewable energy, with a goal to generate 100% renewable electricity by 2035. The Energy Efficiency and Conservation Authority (EECA) has been instrumental in promoting energy efficiency by offering funding for upgrading switchgear to better withstand harsh conditions. Furthermore, the government's investment in electrification of transportation and buildings is expected to drive New Zealand Switchgear Market Growth, particularly in the residential and industrial sectors. Despite the favorable market drivers, the switchgear market in New Zealand faces several challenges. The high cost of smart grid technology and limited funding for rural electrification are significant barriers to the growth of the market. Additionally, the lack of a unified grid system and industry standards has made it challenging for manufacturers to align their production with local requirements. The market for switchgear in New Zealand is witnessing several trends. The increasing demand for smart grids and the integration of distributed energy resources (DERs) such as solar photovoltaic (PV) systems and wind turbines is driving the deployment of advanced switchgear. There is also growing interest in digital switchgear, which enhances system reliability and minimizes maintenance costs. The adoption of gas-insulated switchgear (GIS) as a replacement for conventional air-insulated switchgear (AIS) is also on the rise.

Government policies and schemes introduced in the New Zealand Switchgear Market

One of the key policies introduced by the New Zealand government is the New Zealand Emissions Trading Scheme (NZETS). This scheme provides a dynamic market-based approach to reduce greenhouse gas emissions by placing a price on carbon. Switchgear manufacturing companies have responded to this policy by investing in research and development of energy-efficient products that minimize carbon emissions. Another policy that has impacted the switchgear market in New Zealand is the Energy Efficiency and Conservation Authority (EECA) program. The EECA program provides funding, resources, and technical support to companies to improve energy efficiency and conservation measures in their operations.

Leading players in the New Zealand Switchgear Market

Some of the prominent players in the New Zealand switchgear industry include ABB, Siemens, Eaton, Schneider Electric, and General Electric. These companies have a significant market share and have been successful in providing cutting-edge switchgear solutions to meet the evolving needs of their customers.

Market Analysis by Voltage

According to Aditi, Senior Research Analyst, 6Wresearch, the medium voltage segment is anticipated to grow at a significant pace due to the significant investments planned in expanding renewable energy capacity. In recent years, there has been a substantial increase in wind-powered generation in the country, where the majority of the installations are based in the South Island region.

Market Analysis by Applications

In terms of Applications, the industrial segment dominates the New Zealand Switchgear Market Share, primarily driven by the increasing automation of manufacturing processes. The commercial segment is also expected to grow due to the surge in construction activities in both urban and rural areas. The residential segment is mainly driven by the need for safe and efficient electrical systems in households.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Reports

• New Zealand Switchgear Market Overview
• New Zealand Switchgear Market Outlook
• New Zealand Switchgear Market Forecast
• Historical Data of New Zealand Switchgear Market Revenues & Volume for the Period 2020-2030
• New Zealand Switchgear Market Size and New Zealand Switchgear Market Forecast of Revenues & Volume, Until 2030
• Historical Data of New Zealand Switchgear Market Revenues & Volume, By Voltage, for the Period 2020-2030
• Market Size & Forecast of New Zealand Switchgear Market Revenues & Volume, By Voltage, Until 2030
• Historical Data of New Zealand Switchgear Market Revenues & Volume, By Insulation, for the Period 2020-2030
• Market Size & Forecast of New Zealand Switchgear Market Revenues & Volume, By Insulation, Until 2030
• Historical Data of New Zealand Switchgear Market Revenues & Volume, By Applications, for the Period 2020-2030
• Market Size & Forecast of New Zealand Switchgear Market Revenues & Volume, By Applications, Until 2030
• Market Drivers and Restraints
• New Zealand Switchgear Market Price Trends
• New Zealand Switchgear Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• New Zealand Switchgear Market Share, By Players
• New Zealand Switchgear Market Share, By Regions
• New Zealand Switchgear Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Voltage

• Low Voltage Switchgear
• Medium Voltage Switchgear
• High Voltage Switchgear

By Insulation

Medium Voltage Switchgear

• Air Insulated
• Gas Insulated

High Voltage Switchgear

• Air Insulated
• Gas Insulated

Low Voltage Switchgear

• MCB
• MCCB
• C&R
• ACB
• COS
• Others

By Applications

• Residential
• Commercial
• Industrial
• Power Utilities

New Zealand Switchgear Market (2024-2030): FAQs