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.

Browse 68 Market Data Tables and 51 Figures spread through 144 Pages and in-depth TOC on "Switchgear Market by Voltage (< 1 KV, 1–36 KV, 36–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022"

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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. 

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Switchgear Market Demand to Increase $125.10 billion by 2022

The report “Switchgear Market by Voltage (< 1 KV, 1–36 KV, 36–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022”

The switchgear market is expected to grow at a CAGR of 7.12%, from 2017 to 2022, to reach a market size of USD 125.10 billion by 2022. Continuous growth of construction and development activities, increasing access to electricity in developing countries, and growth in renewable power generation projects are the major factors driving the market.

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The switchgear market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the switchgear market include

Some of the key Players in Switchgear Market:

·         ABB Ltd. (Switzerland),

·         General Electric Company (US),

·         Siemens AG (Germany),

·         EATON CORPORATION plc (Ireland),

·         Alstom SA (France),

·         Hitachi Ltd. (Japan),

·         Schneider Electric SE (France),

·         Mitsubishi Electric Corporation (Japan), etc.

Based on voltage, 36–72.5 kV voltage segment is estimated to be the fastest growing segment of the switchgear market from 2017 to 2022. This segment is expected to witness growth because of the rapid industrialization and urbanization. Aging power infrastructure leading to modernization and upgradation of the existing electrical grid and power plants are also a key factor driving the growth of 36–72.5 kV voltage segment of the switchgear market.

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Target Audience:

The target audience of this report includes:

·         Switchgear manufacturers, dealers, and suppliers

·         Transmission and distribution utilities

·         State and national regulatory authorities

·         Power generation plants

·         Consulting companies in the energy and power sector

·         Government and research organizations

·         Environmental research institutes

·         Process industries and power and energy associations

·         Investment firms

Based on end-user, the transmission and distribution utilities are estimated to grow at the fastest rate during the forecast period. Increasing investments in sub-station automation, modernization of electric grid, and smart utilities are the major factors driving the growth of the transmission and distribution utilities segment of the switchgear market. Switchgear enhance protection by decreasing energy losses, due to poor operational efficiency of traditional equipment.

Based on region, the switchgear market in Asia-Pacific is projected to grow by the fastest rate during the forecast period. Increasing grid investments and plans for electrification in remote areas in countries, such as Vietnam, Indonesia, and the Philippines is likely to drive the growth of the switchgear market in the region during the forecast period. Rise in investments in smart grid technologies is also driving the switchgear market in Asia-Pacific.

For More Detailed Information regarding Companies, Types and Applications visit @ https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html

Aging power infrastructure, High Voltage Direct Current (HVDC) transmission networks, and upcoming smart cities are expected to create new opportunities for the switchgear companies. Moreover, governments in most of the countries are investing in renewable energy-based power generation to match up with the growing energy demand. All these factors is likely to drive the switchgear market during the forecast period.

Global Switchgear Market Leads with Comprehensive Gross Margin by 2022: Leading Companies ABB Ltd., General Electric Company, Siemens AG, EATON CORPORATION plc, Hitachi Ltd., Schneider Electric SE, Mitsubishi Electric Corporation

The switchgear market is expected to grow at a CAGR of 7.12%, from 2017 to 2022, to reach a market size of USD 125.10 billion by 2022. Continuous growth of construction and development activities, increasing access to electricity in developing countries, and growth in renewable power generation projects are the major factors driving the market.

Browse 80 Market Data Tables and 65 Figures spread through 199 Pages and in-depth TOC on "Switchgear Market by Voltage (< 1 KV, 1–36 KV, 3   6–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022"

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=1162268

The switchgear market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the switchgear market include ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), EATON CORPORATION plc (Ireland), Alstom SA (France), Hitachi Ltd. (Japan), Schneider Electric SE (France), and Mitsubishi Electric Corporation (Japan) among others.

Based on voltage, 36–72.5 kV voltage segment is estimated to be the fastest growing segment of the switchgear market from 2017 to 2022. This segment is expected to witness growth because of the rapid industrialization and urbanization. Aging power infrastructure leading to modernization and upgradation of the existing electrical grid and power plants are also a key factor driving the growth of 36–72.5 kV voltage segment of the switchgear market.

Based on end-user, the transmission and distribution utilities are estimated to grow at the fastest rate during the forecast period. Increasing investments in sub-station automation, modernization of electric grid, and smart utilities are the major factors driving the growth of the transmission and distribution utilities segment of the switchgear market. Switchgear enhance protection by decreasing energy losses, due to poor operational efficiency of traditional equipment.

Based on region, the switchgear market in Asia-Pacific is projected to grow by the fastest rate during the forecast period. Increasing grid investments and plans for electrification in remote areas in countries, such as Vietnam, Indonesia, and the Philippines is likely to drive the growth of the switchgear market in the region during the forecast period. Rise in investments in smart grid technologies is also driving the switchgear market in Asia-Pacific.

For More Detailed Information regarding Companies, Types and Applications visit @ https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html

Aging power infrastructure, High Voltage Direct Current (HVDC) transmission networks, and upcoming smart cities are expected to create new opportunities for the switchgear companies. Moreover, governments in most of the countries are investing in renewable energy-based power generation to match up with the growing energy demand. All these factors is likely to drive the switchgear market during the forecast period.

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