Fixed Switch Cabinet Market Expected to Reach $3.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Fixed Switch Cabinet Market," The fixed switch cabinet market size was valued at $2 billion in 2021, and is estimated to reach $3.2 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.

Some of the prime drivers of the fixed switch cabinet industry are surge in penetration of the aging infrastructure is further anticipated to drive the fixed switch cabinet market growth. The market for fixed switch cabinets would be driven by investing in new technology aimed at increasing system life. Another key factor driving the growth of the fixed switch cabinet market is the increased focus on infrastructure throughout the world. The construction business is expanding in growing economies such as China and India, as well as developed economies such as the U.S., Canada, and European Union (EU) countries, which are already focused on existing infrastructure. On the contrary, rise in demand for renewable energy capacity among developing nations, such as China, Japan, and India, is expected to offer remunerative opportunities for the expansion of the market during the forecast period.

Fixed switch cabinet provides monitoring technology to alert maintenance workers when outdated and overused equipment is about to fail, allowing them to make better decisions by providing real-time data on problems and possibilities for improvement. Aside from the limits listed above, there are others, such as environmental factors such as temperature and humidity, as well as groundwater seepage, which can have an influence on the operation of switchgear electrical networks, particularly those situated outside. The changing times necessitate changes in the fundamentals as well. In this situation, even small and medium-sized organisations (SMEs) are taking advantage of collocation data hubs' immense potential and the internet's enormous capacity.

The fixed switch cabinet sector is benefiting greatly from business changes in SMEs. There are an expanding number of SMEs, and that number vastly outpaces the business share provided by a country's select few top corporates. As a result, growth in the SME sector has been a steady demand for ethernet switches. Moreover, collocation data centres constantly employ fixed switch cabinet for smooth and high-speed communication. Its feature is appealing to a wide range of industries, including small and medium-sized organisations, healthcare units, consumer goods suppliers, the IT and telecom industries, internet businesses (such as eCommerce sites), educational institutions, and so on. The growing number of end-users is a steady factor of the ethernet switch market's expansion.

The infrastructure and utilities segment are expected to garner a significant fixed switch cabinet market share during the forecast period. This is attributed to the rise in need for renewable energy capacity and increase in investment by retail owners for adopting fixed switch cabinets. 

The electrical and electronics sector has grown tremendously, resulting in the creation of ultra-modern fixed switch cabinets that provide excellent safety, boosting market expansion. The market for fixed switch cabinets is predicted to increase substantially as a result of growing safety concerns while utilising switches. The global increase in consumer electronics consumption is likely to boost the expansion of the fixed switch cabinet market. Furthermore, the profitable features offered by fixed switch cabinets are likely to give prospects for growth in the fixed switch cabinet market. The fixed switch cabinet market analysis is segmented on the basis of application, and region. By application, the market is categorized into infrastructure and utilities, energy, and industrial. Region-wise, the fixed switch cabinet market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific) and LAMEA (Latin America, the Middle East, and Africa).    

Region-wise, the fixed switch cabinet market trends was dominated by Asia-Pacific in 2021 and is expected to retain its position during the forecast period. This is attributed to increase in demand among merchants across the U.S. and Canada to use fixed switch cabinet. However, North America is expected to witness significant growth rate during the forecast period, owing to penetration of high-electrical equipment solutions across developing nations such as U.S. and Canada. 

Key Findings of The Study

• By application, the infrastructure and utilities segment were the highest revenue contributor to the market, whereas the energy segment is expected to have the significant growth during the forecast period.
• Region-wise, the Asia-Pacific region was the highest revenue contributor, accounting for $1,008.1 million in 2021, and is estimated to reach $1,714.6 million by 2031, with a CAGR of 5.69%.

The fixed switch cabinet market key players profiled in the report include Belden Inc., ABB Ltd., Coslight Group Harbin Switch Co., Ltd, StarTech.com Ltd., Minimax, TEWE Elektronic, Cannon Technologies Ltd, NUM AG, Huimu Ltd., Clipsal (Schneider Electric).  The market players have adopted various strategies, such as product launches, collaborations & partnerships, joint ventures, and acquisitions to expand their foothold in the fixed switch cabinet industry.