Press release
Low Voltage (LV) and Medium Voltage (MV) Switchgear Market: Global Industry Analysis, Size, Sales and Forecast By 2024
Many businesses working in the global low voltage (LV) and medium voltage (MV) switchgear market are focusing on mergers and acquisitions as key strategies, in order to gain extensive revenue. Enhancing product portfolio, bringing about geographical expansion, and increasing capacity of low voltage (LV) and medium voltage (MV) switchgear production are other important strategies that are implemented by most organizations operating in the market. ABB Ltd., GE Co. Mitsubishi Electric Corp., Crompton Greaves Ltd., Siemens AG, Powell Industries Inc., Bharat Heavy Electricals Ltd., Hyosung Corp., Eaton Corp., OJSC Power Machines, and Schneider Electric SE, are key companies operating in the global low voltage (LV) and medium voltage (MV) switchgear market.
Request For Report Sample: https://www.researchreportinsights.com/report/sample/110114904/Low-Voltage-(LV)-and-Medium-Voltage-(MV)-Switchgear-Market
In 2015, this market had registered revenue worth US$56.23 bn, which is further expected to record a valuation of US$98.90 bn by the end of 2024. This growth is projected to occur at a strong CAGR of 6.8% between 2016 and 2024, which is the forecast period covered in the report.
Rapid Industrialization and Urbanization Boosting Market’s Growth
The global low voltage (LV) and medium voltage (MV) switchgear market is being driven mainly due to a rise in demand for enhanced protection in electricity distribution systems. The demand for switchgear is also expected to increase owing to rapid industrialization and infrastructural development taking place all over the globe. With rural development and urbanization mushrooming rapidly, the construction of electricity transmission lines and distribution networks is highly necessary. Low voltage (LV) and medium voltage (MV) switchgear play a crucial role in setting up these networks, consequently driving the associated market.
High Costs of Manufacturing Equipment Restrains Market’s Expansion
However, high costs required for manufacturing low voltage (LV) and medium voltage (MV) switchgear devices makes it substantially expensive for companies having less disposable income to work in this market. This causes them to settle on alternatives, consequently hindering the global low voltage (LV) and medium voltage (MV) switchgear market’s growth. Lack of raw materials in several remote and underdeveloped regions needed to produce the switchgear is also restraining the market from a regional perspective. Nevertheless, some organizations are expected to introduce cost effective solutions, which may considerably reduce effects of restraints affecting the global low voltage (LV) and medium voltage (MV) switchgear market in the near future.
Request Report Discount: https://www.researchreportinsights.com/report/discount/110114904/Low-Voltage-(LV)-and-Medium-Voltage-(MV)-Switchgear-Market
This review is based on a new report published by Research Report Insights titled, “Low Voltage (LV) and Medium Voltage (MV) Switchgear Market (Product Standards - IEC (International Electro technical Commission) standards, ANSI (American National Standards Institute) standards; Application - Power plants, Oil & Gas and Petrochemical Industry, Pulp and paper industry, Utilities sector; Voltage Range - Less than 1kV, 1kV - 5kV, 6kV - 15kV, 16kV - 27kV, 28kV - 38kV; Components - Circuit Breaker, Relays; Insulation type - Air Insulated Switchgear, Gas Insulated Switchgear) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
The low voltage (LV) and medium voltage (MV) switchgear market has been segmented as follows:
LV and MV switchgear market, by Product Standards:
·IEC (International Electro technical Commission) standards
·ANSI (American National Standards Institute) standards
·Other (JIS, NEMA and GOST) standards
LV and MV switchgear market, by Application:
·Power plants
·Oil & Gas and Petrochemical Industry
·Pulp and paper industry
·Utilities sector
LV and MV switchgear market, by Voltages:
·Less than 1kV
·1kV - 5kV
·6kV - 15kV
·16kV - 27kV
·28kV - 38kV
LV and MV switchgear market, by Components:
·Circuit Breaker
·Relays
·Others (Enclosure, Fuses, Bus Bars and Switches)
LV and MV switchgear market, by Insulation:
·Air Insulated Switchgear
·Gas Insulated Switchgear
·Others (oil and solid)
LV and MV switchgear market, by Geography:
· North America
The U.S.
Canada
Mexico
· Europe
The United Kingdom
Germany
France
Italy
Russia
Rest of Europe
· Asia Pacific
China
India
Japan
Australia
South Korea
Indonesia
Rest of Asia Pacific
· Middle East & Africa
· Latin America
Report Analysis: https://www.researchreportinsights.com/report/rd/110114904/Low-Voltage-%28LV%29-and-Medium-Voltage-%28MV%29-Switchgear-Market
About Us:
Research Report Insights (RRI) is a leading market intelligence and consulting firm. We deliver a host of services including custom research reports, syndicated research reports, and consulting services which are personalised in nature. RRI delivers a complete packaged solution to clients; this combines current market intelligence, technology inputs, statistical anecdotes, valuable growth insights, 360-degree view of the competitive framework, and anticipated market trends.
Contact Us:
Research Report Insights (RRI)
42 Joseph Street
Port carling P0B 1J0
Muskoka, Ontario1
Phone - +1-631-721-4201
Website: https://www.researchreportinsights.com/
Email: sales@researchreportinsights.com
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 Low Voltage (LV) and Medium Voltage (MV) Switchgear Market: Global Industry Analysis, Size, Sales and Forecast By 2024 here
News-ID: 1247687 • Views: …
More Releases from Research Report Insights
Automotive Brake System Market 5.7% of CAGR throughout 2017-2022 Research Report …
The global automotive brake system market is anticipated to witnessing a substantial growth due to fresh prospects of the automotive industry in emerging along with developing economies and increased safety concerns by the government. It was stated in the report that the overall growth of the market is expected to reach a market value of above US$ 25 Billion through 2022, exhibiting a strong 5.7% of CAGR throughout 2017-2022.
In modern…
Automotive Brake System Market 2022 | Continental AG, Robert Bosch GmbH, Wabco H …
The global automotive brake system market is anticipated to witnessing a substantial growth due to fresh prospects of the automotive industry in emerging along with developing economies and increased safety concerns by the government. It was stated in the report that the overall growth of the market is expected to reach a market value of above US$ 25 Billion through 2022, exhibiting a strong 5.7% of CAGR throughout 2017-2022.
In modern…
Tarpaulin Sheets Market These factors, thus, are likely to boost the plastic mar …
A tarpaulin is a big sheet of water-proof material available in various sizes, generally being crafted from plastic like HDPE, LDPE. Tarps can be used to refuge any kind of items. Tarpaulins can efficiently be used to cover goods in the course of shipping and then they also can be used to house goods internal of a truck body so they are not uncovered to the elements.
The Tarpaulin Sheets Market…
Research Report Insights present kayaks market by 21 percent, or over by $42 mil …
Kayaking is a watersport which involves paddling using a double-bladed oar and a small boat known as a kayak. The boats come in a variety of sizes and types, depending on their intended use, but most kayaks feature an enclosed deck which covers the legs. The boat sits low in the water & usually only accommodates the single paddler, but tandem kayaks hold two people and some boats hold three…
More Releases for Voltage
Low Voltage (LV) and Medium Voltage (MV) Switchgear Market Forecast And Analysis
The automated switchgear operation is preferred over conventional operations in the smart grid. In an automated substation, all operations are carried out through automated systems, since they are more efficient and require less manpower. Automated substation also promotes energy-efficiency and ensures better utilization of assets, thereby it continuously provides uninterrupted power flow through smart grid.
Get Report Details- https://www.transparencymarketresearch.com/lv-mv-switchgear-industry.html
The rise in need for automatic switchgear solutions for the integration of renewable…
Low Voltage (LV) and Medium Voltage (MV) Switchgear Market Forecast And Analysis
The automated switchgear operation is preferred over conventional operations in the smart grid. In an automated substation, all operations are carried out through automated systems, since they are more efficient and require less manpower. Automated substation also promotes energy-efficiency and ensures better utilization of assets, thereby it continuously provides uninterrupted power flow through smart grid.
Get Report Details- https://www.transparencymarketresearch.com/lv-mv-switchgear-industry.html
The rise in need for automatic switchgear solutions for the integration of renewable…
Line Voltage and Low Voltage (12v/ 24v) Lighting Market 2022 | Detailed Report
The Line Voltage and Low Voltage (12v/ 24v) Lighting market research report delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. The Line Voltage and Low Voltage (12v/ 24v) Lighting report also incorporates the current and future global market outlook in the emerging and developed markets. Moreover, the report also investigates regions/countries expected to witness the fastest growth rates during the forecast period.
The…
Marine VFD Market by Type (AC Drive, DC Drive), Voltage (Low Voltage, Medium Vol …
The Marine VFD Market report examines the market size by vital countries/regions, product type, application, historical data, and estimate to forecast. It helps to understand the structure of the Marine VFD Market by recognizing its different sub-segments. Furthermore, the report focuses on key market players to determine, describe and analyze the value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
Request a sample on…
Dual Voltage Comparator Market - High Speed Voltage Comparator Addresses Applica …
A comparator is an electrical device used to compare a measurable quantity with a reference or standard such as two voltages or currents. It outputs a digital signal showing the results. The comparator can be designed by using various components like diodes, transistors, op-amps. The comparators found in many electronic applications that may be used to drive logic circuit. However, the dual voltage comparator consists of two independent voltage comparators…
United States Differential Probes Market: By Voltage Type - Low Voltage Differen …
ResearchMoz presents this most up-to-date research on "United States Differential Probes Market: By Voltage Type - Low Voltage Differential Probes, Medium Voltage Differential Probes & High Voltage Differential Probes".
In this report, the United States Differential Probes market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
Geographically, this report…
