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.
Don’t miss out on business opportunities in Paralleling Switchgear Market. Speak to
our analyst and gain crucial industry insights that will help your business
grow:
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).
Browse and
in-depth TOC on “Paralleling Switchgear Market”
73
- Tables
36
- Figures
131
- Pages
View more detailed
TOC @
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.
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.
Request for
special pricing on bundle reports @ https://www.marketsandmarkets.com/RequestBundleReport.asp?id=107294848
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.
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.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
No comments:
Post a Comment