Paralleling Switchgear Market 2018 Global Industry Size, Demand, Growth Analysis, Share, Revenue, Manufacturers and Forecast 2023

According to recent research “Paralleling Switchgear Market by End-User (Industrial, Commercial), Application (Prime, Standby and Peak shave), Transition Type (Open Transition and Closed Transition), Voltage (Low Voltage and Medium Voltage), and Region - Global Forecast to 2023", the global paralleling switchgear market is estimated to grow at a CAGR of 5.82% from 2018 to 2023, to reach a market size of USD 1.55 billion by 2023. The increase in distributed generation, ageing and overburdening of power grids, and investment in industrial sectors such as power generation, oil & gas, telecommunication, construction, and mining are likely to drive the paralleling switchgear market during the forecast period. 

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The paralleling switchgear market is dominated by major players that are established brand names with a wide regional presence, along with many local and regional players in emerging economies. The leading players in the paralleling switchgear market include GE (US), Kohler (US), Caterpillar (US), Cummins (US), Schneider Electric (France), and Russelectric (US). 

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The industrial segment is estimated to be the fastest-growing segment of the paralleling switchgear market, by end-user, from 2018 to 2023. The growth of this segment is driven by the increasing demand for critical power from utilities/power generation in developing regions such as Asia Pacific, the Middle East & Africa, and South America. Increased focus on data center services in finance and e-commerce sectors and large investments in public infrastructure projects by governments globally are leading to the increased demand for generators for power generation, which, in turn, would drive the demand for paralleling switchgear used for paralleling multiple power sources in various end-user industries.

Based on transition type, the closed transition mode of paralleling switchgear market is expected to grow at the highest rate from 2018 to 2023. The growth of closed transition type switchgear can be attributed to its capability to maintain power supply to critical loads at all times with no interruption in electrical service. Closed transition equipment such as switchgear and automatic transfer switches uses a make-before-break operating sequence to maintain uninterrupted power to essential loads throughout a transfer between live sources. However, open transition segment is estimated to hold a higher market share as it is the more widely used technology and cost-effective in comparison to closed transition. The growing requirement from telecommunication, construction, distributed generation, and replacement demand also supports the higher share of the open transition segment in paralleling switchgear market.

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The standby segment of the paralleling switchgear market, by type, is estimated to grow at the highest rate from 2018 to 2023. Factors such as rising demand from data centers, hospitals, and solar PV sectors is driving the growth of this market. Growing demand from the Asia Pacific will continue to drive the standby segment of the paralleling switchgear market, led by demand from countries such as China and India. 

Low voltage segment of paralleling switchgear market, by voltage, will grow at the highest rate during the forecast period. Low voltage segment is primarily used for mission critical operations in hospitals, data centers, and telecom sector. Rising investments in healthcare and data centers industries, including the construction of new facilities, as well as extension and upgrade of existing facilities in the Asia Pacific, North America, and Europe, are expected to drive the demand for low voltage paralleling switchgear. 

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The paralleling switchgear market has been segmented, by region, into Asia Pacific, Europe, North America, South America, and the Middle East & Africa. The Asia Pacific market is projected to grow at the highest rate from 2018 to 2023, followed by North America and the Middle East & Africa. China and India are the largest markets in the Asia Pacific region and have seen increasing investments in data centers, public infrastructure, and telecommunication sectors in the recent past. The Indian market is projected to grow at the highest CAGR of 7.48% from 2018 to 2023 in the Asia Pacific region. Increasing investments in data centers, construction, telecommunication, manufacturing, water and wastewater treatment, and growing urbanization are the major factors driving the growth of the paralleling switchgear market in the region.

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Diesel Power Engine Market 2017 Analysis and In-depth Research on Market Size, Trends, Emerging Growth Factors and Forecasts

According to the new market research report "Diesel Power Engine Market by Operation (Standby, Prime, and Peak Shaving), Rated Power (Up To 0.5 MW, 0.5–1 MW, 1–2 MW, 2–5 MW, and Above 5 MW), End-User (Industrial, Commercial, Residential), and Region - Global Forecast to 2022 ", published by MarketsandMarkets™, the diesel power engine market is estimated to grow at a CAGR of 3.78% from 2017 to 2022, to reach a market size of USD 9.13 billion by 2022. Diesel power engines are used for power generation by end-users such as industries, commercial, and residential. The rising demand for reliable power and growing urbanization are some of the factors contributing to the growth of the diesel power engine market.  

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Asia Pacific is estimated to be the fastest growing market for diesel power engine from 2017 to 2022. The increasing need for power generation, particularly in China and India, along with rising investments in manufacturing, commercial complexes, process, and other industries, has increased the demand for a constant supply of uninterrupted power. Downtime in any industry is costly, and quick start power generation can aid in improving the overall plant efficiency and minimize unwanted cost overruns. These factors are expected to drive the growth of the diesel power engine market in Asia Pacific. China and India are estimated to be the two largest markets for diesel power engine in the region in 2017. In addition, the diesel power engine market is expected to grow significantly in countries such as Australia and Bangladesh during the forecast period. 

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The standby segment is expected to be the fastest-growing segment of the diesel power engine market from 2017 to 2022. The growth of this segment can be attributed to the widespread application of backup power across various end-users. The use of standby engines in commercial buildings, residential societies, and industrial applications in case of power interruption and backup applications in CHP and other power plants has also resulted in the higher demand for standby engines. Asia Pacific and South America are estimated to be the fastest growing markets for diesel power engine and offer lucrative business opportunities for standby manufacturers.

The 1 MW–2MW segment is expected to be the fastest growing market, by power rating, from 2017 to 2022. The diesel engines of this power rating find application in large residential areas and industrial applications. The 0.5MW–1 MW segment is expected to grow at the second highest CAGR from 2017 to 2022 as these are used in large applications in commercial spaces and universities. Thus, there are lucrative business opportunities in the 1 MW–2MW and 0.5MW–1 MW segments.

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The industries segment is expected to be fastest-growing diesel power engine market, by end-user, from 2017 to 2022 due to increasing industrialization in developing economies. The major industries that use diesel power engine include cement, pharmaceutical, datacenter, metals and mining, automotive, oil & gas, and paper and pulp. Various operations in these industries require an uninterrupted power supply, which helps to enhance the productivity. These factors are expected to create new revenue pockets for the diesel power engine market in the industries segment during the forecast period.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Switchgear Market 2017 Analysis and In-depth Research on Market Size, Trends, Emerging Growth Factors and Forecasts

The global switchgear market is projected to grow at a CAGR of 7.12%, from 2017 to 2022. The market in Asia Pacific was the largest in 2016 and is projected to hold the largest share by 2022, followed by the markets in Europe and North America. The growth of the switchgear market is driven by increasing access to electricity in developing countries, increase in the number of renewable power generation projects, and growth of the construction and developmental activities.

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The switchgear market is dominated by a few global players. The key players in this market include ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (US), EATON CORPORATION plc (Ireland), and Schneider Electric SE (France). 

Major strategies adopted by the players in the switchgear market over the period 2013–2017(July) included contracts & agreements, new product launches, expansions, and partnerships, of which contracts & agreements was the most adopted. The second most preferred growth strategy was new product launches which included India’s first 765 kV gas insulated substation by Larsen & Toubro Limited (India).

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ABB Ltd. (Switzerland) is a leading power and automation technology company that offers a wide range of products, services, and systems. It operates in five segments, namely, power products, power systems, low voltage products, discrete automation and motion, and process automation. The company manufactures switchgears through its power products segment. The company is focusing on the strategy of new product developments. In 2014, it produced the world’s first gas-insulated switchgear with a new eco-efficient gas, which is an alternative to Sulfur Hexafluoride (SF6) possessing 100% lower global warming potential than SF6. In January 2017, ABB won a contract worth USD 640 million to deliver a transmission link, Raigarh-Pugalur 800 kilovolt (kV) Ultra-High-Voltage Direct Current (UHVDC) system that connects Raigarh in Central India to Pugalur in the southern state of Tamil Nadu, India.

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Siemens AG (Germany) is a leading manufacturing and engineering company. It operates its business through nine segments, namely, power and gas, healthcare, energy management, digital factory, process industries and drives, mobility, building technologies, wind power and renewables, and financial services. The low and medium voltage division under the energy management segment caters to electrical grid operators, large industrial electricity consumers, and construction markets. It offers medium and low voltage electrical power equipment, which includes distribution switchgears, control gears, circuit breakers, and components for distributing and switching electrical power. The power transmission division under the energy business segment covers high voltage transmission solutions, power and distribution transformers, high voltage switching, non-switching products and systems, and AC and DC transmission systems. In May 2017, Siemens received a USD 867 million contract from Qatar General Water & Electricity Corporation (KAHRAMAA) for the expansion of the Qatar power transmission network which includes 35 turnkey super and primary sub-stations for Phase 13 of the Qatar Power Transmission System Expansion project. 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Smart Water Metering Market growth is primarily driven by reducing non-revenue water and retrofitting of aging water infrastructure.

According to recent research “Smart Water Metering Market by Type (AMR and AMI), by Component (Meters & Accessories, Communication, and IT Solution), by Application (Water Utilities and Industries) and by Region - Global Trends & Forecast to 2021”, the global smart water metering market is likely to witness a growth rate of 7.23% from 2016 to 2021. Market growth is primarily driven by factors such as increasing focus towards reducing non-revenue water, retrofitting of aging water infrastructure, and the need for accurate billing. North America is estimated to be the largest market for smart water metering in 2016, and the trend is projected to continue till 2021, followed by Europe and Asia-Pacific, respectively.

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The smart water metering market includes both global and small regional players. Some of the key players operating in the market include Itron Inc. (U.S.), Elster Group GmbH (Germany), Sensus (U.S.), Landis+Gyr (Switzerland), and Kamstrup A/S (Denmark), among others. Other companies include Aclara Technologies LLC (U.S.), Badger Meter, Inc. (U.S.), Datamatic, Inc. (U.S.), Diehl Metering GmbH (Germany), Neptune Technology Group Inc. (U.S.), B METERS s.r.l. (Italy), Arad Ltd. (Israel), and Arqiva Ltd. (U.K.).

Developments adopted by key players in the smart water metering market include contracts and agreements, expansions, new product launches, and mergers & acquisitions. Contracts and agreements was the most commonly adopted strategy, constituting more than one-third of the total development share. The industry also adopted business expansion as the second most popular strategy in the past 4 years (2012–2015).

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Itron Inc. (U.S.) and Elster Group GmbH (Germany) were among the leading players in the smart water metering market. Itron Inc. (U.S.) supports more than 8,000 utility companies in around 100 countries worldwide. The company has a global presence and has been expanding its existing facilities through various acquisitions. The company also tries to consistently improve its product portfolio by making apt utilization of contemporary and advanced technologies. Contracts & agreements and new product launches were the main strategies adopted by the company. For instance, it has received contracts for providing smart water metering solutions from companies such as Larsen & Toubro (India) and Water Corporation of Australia (Australia), among others. It has also launched new products such as OpenWay Riva communications platform and 4G LTE smart metering solution, among others.

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Elster Group GmbH (Germany) is another leading global player in the smart water metering market. The company is focusing on developing new-generation meters and communication capabilities for transmission and high-end applications. It has also been awarded various contracts to provide smart water metering solutions, which could help it to improve its top-line. For instance, it was awarded a contract by Brazilian utility, Companhia de Saneamento do Parana, to supply more than 105,000 single-jet water meters and was selected by Orlando Utilities Commission (U.S.) to provide advanced metering infrastructure (AMI) system.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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