Press release
Switchgear Market - 2018 Mitsubishi Electric Systems, Schneider Electric, Toshiba, ABB, GE, Siemens AG, Larson & Turbo, Hitachi Ltd., Crompton Greaves, Hubbell, Powell Industries, BHEL, Hyosung, Rittal, Hyundai Ideal Electric Co., Meidensha Corporation, F
Switchgear Market
China switchgear market is set to value over USD 20 billion by 2024. Favorable government norms toward the replacement of conventional sources with renewable energy resources favored by renewable energy targets will embellish the business outlook. In 2017, Regulators across China declared an investment worth USD 326.38 billion towards the expansion and structuring of renewable generation technologies by 2020.
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Paradigm shift towards conservation of energy along with stringent environmental constraints will fuel the switchgear market growth. Energy efficiency along with rapid adoption of smart grid technologies are few indispensable parameters evaluated to validate the product penetration. In 2017, European countries including the Italy, UK, Sweden, France, and Germany, collaboratively announced an investment worth USD 133.7 billion towards the expansion and sustainability of smart grid networks across the continent.
Vacuum insulation in 2016, held over 50% of the switchgear market share subject to the growing demand for HVDC transmission networks across industrial establishments. Effective di-electric strength and insulation coupled with economical costs when compared to its competitive counterparts will further augment the industry outlook. In 2017, Toshiba proposed investments worth USD 30 million towards the expansion and diversification of its India based switchgear manufacturing capacities.
Rising investments toward rural electrification across the Asia Pacific and African sub-continent supported by economic aid by financial institutions including the World Bank, International Finance Corporation and the Asian Development Bank (ADB) will boost the switchgear market growth. Refurbishment of electrical grids across the war affected areas of Syria, Iraq and Sudan will further complement the industry outlook. In 2017, the World Bank has planned investments worth USD 4 million in line with the expansion of sustainable grid networks across the Pacific region.
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Rising demand for refurbishment of aging infrastructure coupled with robust adoption of advance distribution networks will positively impact the U.S. switchgear market . Rising investments towards the expansion of railroad projects favored by the government aided peninsula corridor electrification program will foster the industry landscape. In 2017, The U.S. under the Peninsula Corridor Electrification Project announced an investment worth USD 100 million towards the development and sustainability of California’s rail networks.
Eminent players across the switchgear market include Mitsubishi Electric, ABB, GE, Schneider Electric, BHEL, Toshiba, Siemens, Hitachi, Crompton Greaves, Hubbell power systems, Powell Industries, Rittal, Hyosung, Fuji Electric, Larson & Toubro, Hyundai Ideal Electric, Ormazabal, and Iljin Electric.
Report Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market definitions
1.3 Market estimates and forecast parameters
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Switchgear market 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Voltage trends
2.1.4 Insulation trends
2.1.5 Installation trends
2.1.6 Current trends
2.1.7 Application trends
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