Switchgear Market Is Seeing Explosive Growth By Future Industry Winners: Global Forecast

The switchgear market is expected to grow from an estimated USD 88.71 Billion in 2017 to USD 125.10 Billion by 2022, at a CAGR of 7.12%, from 2017 to 2022. The global market is set to witness a significant growth due to the continued growth of construction and developmental activities, increasing access to electricity, and growth of renewable power generation projects.

Market Ecosystem:

The switchgear ecosystem comprises equipment manufacturers, such as, ABB, Ltd. (Switzerland), General Electric Company (US), Schneider Electric SE (France), EATON CORPORATION plc (Ireland), Siemens AG (Germany), Larsen & Toubro, Ltd. (India), Alstom SA (France), Hitachi, Ltd. (Japan), CG Power and Industrial Solutions Limited (India), Efacec Power Solutions – S.G.P.S. S.A. (Portugal), ELEKTROBUDOWA SA GROUP (Poland), Hawker Siddeley Switchgear Ltd. (UK), Hyosung Corporation (South Korea), Mitsubishi Electric Corporation (Japan), and Toshiba Corporation (Japan) among others.

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The transmission and distribution utilities segment is expected to hold the largest share of the switchgear market, by end-user, during the forecast period.

The transmission and distribution utilities sub-segment of the end-user segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. The transmission and distribution utilities segment is also expected to grow at the fastest rate during the forecast period.

The growth of the transmission and distribution utilities segment is primarily driven by increasing investments in sub-station automation, modernization of electric grid, and smart utilities which includes smart grids and smart meters. This would enhance the protection by decreasing energy losses, due to poor operational efficiency of traditional equipment. This would ultimately create new revenue pockets for the switchgear market during the forecast period.

The gas insulated switchgear is expected to hold the largest share of the switchgear market, by equipment, during the forecast period.

The gas insulated switchgear sub-segment of the equipment segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. Rising energy demand and extension/replacement of old switchgear at sub-stations can drive the gas insulated switchgear equipment in the switchgear market. However, the circuit breaker sub-segment accounted for the second largest share in 2016 in the switchgear market, based on the equipment segment.

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North America: The leading market for switchgear

In this report, the switchgear market has been analyzed with respect to five regions, namely, Asia Pacific, Europe, North America, the Middle-East and Africa, and South America. The market in Asia Pacific led the global switchgear market in 2016. Increasing grid investments especially in developing economies, such as China and India and plans for electrification in remote areas in countries, such as Vietnam, Indonesia, and the Philippines are expected to drive the switchgear market in Asia Pacific. Indonesia aims to achieve 90% electrification rate by 2025 and the countries, such as the Philippines and Malaysia have similar plans. Rise in investments in smart grid technologies including distribution grid automation, smart meters, and demand response systems in countries, such as Japan, South Korea, and Australia would create opportunities for the switchgear market in the Asia Pacific region.

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Distributed Control Systems Market 2022 | DCS Market Leader – ABB, Siemens, Honeywell, Yokogawa, Emerson, Schneider Electric, General Electric, Rockwell, Toshiba

The global distributed control systems market is projected to reach USD 20.33 billion by 2022, at a CAGR of 4.97%, from 2017 to 2022. This growth is primarily driven by the increased use of renewable and nuclear energy for power generation and booming power sector and augmented power generation capacities worldwide.

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Asia Pacific is expected to be the largest market for DCS followed by North America till 2022. The global market is dominated by a few players including ABB (Switzerland), Emerson (US), Siemens (Germany), Honeywell (US), and Schneider Electric (France).

The major strategies adopted by the players include contracts & agreements, new product launches, expansions and investments, mergers & acquisitions, and joint ventures and collaborations. Contracts & agreements was the most commonly adopted strategy from 2014 to August 2017. Industry players also adopted new product developments, which was the second most widely followed strategy, during the same period.

ABB is a leading manufacturer of electrical products. The company operates through 4 segments, namely, power grids, electrification products, discrete automation and motion, and process automation. It offers distributed control system products through its process automation segment. The company offers a wide range of products and software for distributed control (DCS) systems. ABB mainly focuses on the human factor and, hence, provides interfaces between panels and complete control room systems to drive productivity, quality, and safety. ABB operates in more than 100 countries across Europe, the Americas, and Asia, Middle East and Africa (AMEA). It has approximately 320 operating and holding subsidiaries worldwide, including ABB India Limited, ABB Argentina, ABB Canada, and ABB Beijing Drive Systems. In May 2016, ABB was awarded a contract by TAKRAF GmbH to provide a complete power and automation solution to the company.

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Emerson provides manufacturing products and services to a wide range of commercial and consumer markets worldwide. The company operates through 4 segments, namely, process management, climate technologies, industrial automation, and commercial and residential solutions. It offers distributed control systems (DCS) through its process management and industrial automation segments. The company’s process management segment offers both systems and software to end-users. Emerson’s most popular DCS systems are Ovation and DeltaV. It provides its services to various industries such as oil & gas, refining, chemicals and power generation, pharmaceuticals, food and beverage, pulp and paper, and metals and mining. In 2016, 42% of Emerson’s process management segment’s revenue was generated in North America. This was followed by Asia Pacific and Europe, accounting for 23% and 19%, respectively, in the same year. The company has 220 manufacturing locations and operates in 150 countries. In September 2017, the company launched the DeltaV PK controller, an advanced version of the DeltaV distributed control 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.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Floating Power Plant Market Projections, Future Opportunities Recorded for the Period until 2022

The floating power plant market is expected to grow from an estimated USD 889.6 Million in 2017 to USD 1,440.1 Million by 2022, at a CAGR of 10.11%, from 2017 to 2022.

The factors driving the market includes increasing demand for power, coupled with the lack of power infrastructure, benefits over land based power plants (majorly as it eliminates the land acquisition related problems), and energy efficiency mandates and demand for clean energy (renewable energy source).

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Non-Renewable is the largest power source-based market segment

The report segments the floating power plant market on the basis of power sources into non-renewable and renewable. In 2016, the non-renewable segment held the largest market share of the global floating power plant market. This growth is majorly driven by the lack of power infrastructure, coupled with the upsurge in energy demand. The non-renewable power source market is segmented into key components, such as gas turbines and IC engines.

Above 250 MW is the largest capacity-based market segment

The report also segments the floating power plant market by capacity into 1 MW to5 MW, 5.1 MW to–20 MW, 20.1 MW to100 MW, 100.1MW to250 MW, and above 250 MW. The capacity segment above 250 MW is projected to dominate the floating power plant market till 2022. The market share of the above 250 MW segment, is maximum, as the floating power plants which generate this amount of capacity, fall under the non-renewable segment, thus accounting for a major share of the market in the capacity segment.

Asia-Pacific is a key potential market for floating power plants

The floating power plants market is segmented into North America, Asia-Pacific, Europe, and the rest of the world (South & Central America and the Middle East & Africa). The rest of the world dominated the floating power plant market in 2016, owing to the high demand from the Middle East and African countries, which was closely followed by the Asia-Pacific region. The Asia-Pacific region is projected to dominate the floating power plant market by 2022, owing to the rise in renewable floating power plants in countries such as Japan and China, and the non-renewable floating power plants in countries such as Indonesia and Myanmar, among others.

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To provide an in-depth understanding of the competitive landscape, the report includes the profiles of companies, such as MAN Diesel & Turbo SE (Germany), Mitsubishi Corporation (Japan), Wartsila (Finland), General Electric Company (U.S.), Siemens AG (Germany), Caterpillar, Inc. (U.S.), Ciel & Terre International (France), Floating Power Plant A/S (Denmark), Ideol (France), Kyocera Corporation (Japan), Principle Power, Inc.(U.S.), Upsolar (Hong Kong), Vikram Solar Pvt., Ltd. (India), Yingli Solar (China), and SeaTwirl AB (Sweden), among others. The dominant players are trying to gain a foothold in developing economies and are adopting various methods to grab the market share.

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.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: sales@marketsandmarkets.com