Press release
Myanmar Switchgear Market (2018-2024)-6Wresearch
Myanmar Switchgear Market (2018-2024)-6Wresearch
Construction of new housing units, development of several large-scale transportation infrastructure projects as well as strengthening of the power infrastructure in the country are some of the top objectives of the NLD government in Myanmar over the coming years. Initiatives such as the Myanmar National Electrification Plan have been adopted with an aim to achieve full electrification in the country by 2030. In addition, increasing foreign investment for the development of energy and utilities, residential and public infrastructure sectors of Myanmar would also contribute to the rise in sales of switchgears. These factors would fuel the growth of switchgear market in the country.
According to 6Wresearch, the Myanmar Switchgear Market revenues are projected to grow at a CAGR of 8.4% during 2018-24. In order to keep up with the growing population of Myanmar, the Ministry of Construction plans on developing several residential and commercial projects in future, which would generate more demand for MCCBs, MCBs and other low voltage switchgears. Multiple new hydro and solar power plant projects are also in the construction phase and would provide additional power supply in the country. Additionally, the planned expansion of the transmission and distribution network in the country would increase the demand for medium and high voltage switchgear devices during the forecast period.
Browse Press Release : http://www.6wresearch.com/press-releases/myanmar-switchgear-market-share-forecasts-size-growth-opportunity-shipments-cagr-players-trends-news.html
According to Ravi Bhandari, Assistant Manager, 6Wresearch, “The power utilities and commercial sectors are the key revenue generating segments in the Myanmar switchgear market due to the wide utilization of low and high voltage switchgears in these two verticals.”
“The planned construction of new power plants, expansion of transmission and distribution lines and setting up of new renewable energy projects would further surge the demand for switchgears in the power utilities segment over the coming years,”, Ravi further added.
According to Rachit Gulati, Research Associate, Research and Consulting, 6Wresearch, “low voltage segment is the highest market revenue share holder in the overall switchgear market. However, with initiatives such as the National Transport Master Plan 2030 in place, the medium and high voltage switchgear segments are expected to gain significant revenue share in future.”
“Myanmar’s construction industry would be driven by investment in several segments, government focus on infrastructure development, setting up of new industrial zones and rising interest in low-cost residential development. This would drive the growth of switchgear market in the country,” Rachit further said.
Some of the major companies in the Myanmar switchgear market include ” ABB, Siemens, Schneider, Fuji Electric and Khin Maung Nyunt Manufacturing Company.
“Myanmar Switchgear Market (2018-2024)” provides an in-depth analysis with 64 figures and 21 tables covered in more than 140 pages. The report estimates and forecast the overall Myanmar switchgear market by revenue, insulation, regions and applications such as residential, commercial, industrial, power utilities and others. The report also offer insights on the competitive landscape, company profiles, market drivers and restraints.
For Sample Pages & Detailed Report Description Visit : http://www.6wresearch.com/market-reports/myanmar-switchgear-market-2018-2024-forecast-by-voltage-low-medium-high-insulation-ais-gis-mcb-mccb-cr-acb-cos-vertical-competitive-landscape.html
6Wresearch is the premier, one stop market intelligence and advisory center, known for its best in class business research and consulting activity. We provide industry research reports and consulting service across different industries and geographies which provide industry players an in-depth coverage and help them in decision making before investing or enter into a particular geography.
Delhi/NCR Office
1107-1108, PEARLS BEST HEIGHTS
TOWER 1, NETAJI SUBHASH PLACE
PITAMPURA, New Delhi-110034
Email sales@6wresearch.com
Phone: +911143024305
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Myanmar Switchgear Market (2018-2024)-6Wresearch here
News-ID: 1069010 • Views: …
More Releases from 6Wresearch- Market Intelligence Solutions
Market Penetration of Smart Ceiling Lights Globally
The global market for ceiling lights has been growing rapidly as consumers demand is high for seek stylish and efficient lighting for homes and commercial settings. Though new technologies in smart lighting are gaining traction, ceiling lights remain favored for their utility, design versatility, and energy-conscious features.
According to 6Wresearch, the Global Ceiling Lights Market is projected to grow at a compound annual growth rate (CAGR) of 4.60% between 2025 and…
Role of Electric Vehicles in Shaping Parking Infrastructure & Advancements in Au …
The car parking market worldwide is growing steadily. This is due to the rising urbanization, increased numbers of vehicles, and the need for efficient space allocation in cities. With expanding urban centers and mounting traffic congestion, demand for smart and systematic parking solutions is rapidly rising. Additionally, governments and private companies have invested in contemporary parking facilities. Moreover, technological advancements are being done to make parking systems more accessible and…
Consumer Behavior and Preferences in Purchasing Car Insurance
The global car insurance market growth has boosted massively, driven by the rising vehicle ownerships and strict government regulations. Additionally, the rising driver's awareness regarding car insurance is another major factor boosting the growth of the market. While rise of digital solutions and new technologies, traditional car insurance remains essential in the auto and financial industries, which offer vital protection and financial security to drivers worldwide.
According to 6Wresearch, the Global…
Regional Analysis of Car Accessories Demand and Innovative Technologies in Car A …
The global car accessories market is experiencing consistent growth, driven by increasing vehicle ownership, rising interest in vehicle customization, and growing awareness around safety and comfort. Consumers around the world are investing more in both aesthetic and functional accessories for their vehicles-ranging from seat covers and infotainment systems to advanced safety tools and exterior enhancements.
According to 6Wresearch, the Global Car Accessories Market is projected to grow at a compound annual…
More Releases for Myanmar
Automotive Financing Market 2022 Global Insights and Business Scenario - CB Bank …
Global "Automotive Financing Market" report provides a meticulous analysis of market dynamics, current developments, and trending business strategies. This report gives a comprehensive analysis of different segments on the basis of type, application, and region. It Offers Qualitative and Quantitative Analysis of Market Size, Share, Future Growth Opportunities, and Current Trends. This research offers a detailed analysis of market development and growth factors, product launches, joint ventures, mergers, and acquisitions.…
Agriculture Machinery Market in Myanmar, Financing for Agriculture Equipment in …
Key Findings
Power tillers, tractors and threshers are the most common equipment’s used in the Myanmar agriculture machinery segment. Out of these, Power Tillers are the most selling agricultural equipment in the region.
The agriculture equipment market in Myanmar is currently exclusively import dependent. The Ministry of Commerce, effective from November 2017, granted the permission for joint ventures (JVs) between foreign and domestic companies to import and sell agricultural machinery.
Central…
Myanmar Agriculture Machinery Market, Agriculture Machinery Market, Major Staple …
How is Myanmar Agricultural Equipment Market Positioned?
Overview: The Agriculture Sector in Myanmar is undergoing transformation. Paddy, Sugarcane and Maize are the most grown crop in the region. Ayeyawady, Bago, Yangon, Mandalay, Magway and Mon State are some of the most fertile regions in the country. The total arable land in Myanmar is ~49 Mn Acres, with number of farmers around 7.2 Mn as of March, 2018. The average farm size…
Myanmar Agriculture Machinery Market, Myanmar Agriculture Machinery Industry, My …
High Focus on Agriculture Sector: Myanmar has been an agriculture dependent country historically. Currently, agriculture sector employs more than 60% of the country’s population; therefore it is one of the top developmental priorities for the government. The agriculture sector accounted for one-third of the Myanmar Economy in 2011, valued at USD 19.5 Bn. However, it declined lately contributing to one-fourth of the economy, with a value of USD 17.5 Bn.…
Myanmar Agriculture Market, Myanmar Agriculture Industry, Myanmar Agriculture Li …
Agriculture in Myanmar (also known as Burma) is that the main business within the country, accounting for 60 percent of the GDP and provides work for some 65 percent of the labour force. Myanmar was once Asia's biggest exporter of rice and rice remains the country's most vital agricultural product. Myanmar’s agricultural business is divided into three sectors: crop production, livestock, and fishing. In standings of Myanmar’s main crop production, it is well-known…
Myanmar: Country Intelligence Report 2018 By MPT, Ooredoo Myanmar, Telenor Myanm …
"Myanmar: Country Intelligence Report", a new Country Intelligence Report by GlobalData, provides an executive-level overview of the telecommunications market in Myanmar today, with detailed forecasts of key indicators up to 2023. Published annually, the report provides detailed analysis of the near-term opportunities, competitive dynamics and evolution of demand by service type and technology/platform across the fixed telephony, broadband, and mobile segments, as well as a review of key regulatory trends.
The…
