Switchgear Market Is Booming Worldwide | ABB, Siemens, GE, Eaton, Toshiba, Schneider Electric, Siemens, Hitachi Limited, Powell Industries, Fuji Electric, Iljin Electric, Ormazabal
China switchgear market is set to surpass USD 20 billion by 2024. Government initiatives pertaining to substitution of conventional energy sources with clean and sustainable energy resources will complement the industry landscape. The National Energy Administration, in 2017, announced to strengthen the sustainable power generation technologies across China with an expenditure worth USD 326.40 billion by 2020.
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Switchgear Market will surpass USD 140 billion by 2024. Rising investments toward the infrastructure expansion across developing nations will enhance the industry growth. Increasing demand for advanced monitoring units and control distribution systems coupled with replacement and modernization of ageing power networks will further stimulate the business landscape. The Government of Serbia in collaboration with the Government of China entered into a strategic partnership to upgrade its existing electrical grid infrastructure.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Schneider Electric
• Hitachi Limited
• Powell Industries
• Fuji Electric
• Iljin Electric
Paradigm shift toward energy conservation and strict environmental regulations will boost the growth of the global switchgear market. Rapid technological advancements in smart grid and growing focus toward energy efficient environment will further boost the product penetration. In 2017, Western European nations including France, UK, Germany, Sweden and Italy together, declared a cumulative funding worth USD 133.7 billion for the expansion of smart grid network.
In 2017, vacuum insulation accounted for over half of the global switchgear market share, attributable toward the rising demand for HVDC transmission & distribution networks across industrial sector. In comparison to its counterparts, the effective di-electric strength and high insulation along with fierce installation costs will further fuel the product trade. Toshiba estimated USD 30 million of investment toward the expansion of its transformers and switchgear manufacturing units in 2017 across India.
Rational measures toward the electrification of rural regions in Asia Pacific and Africa sustained by growing investments from financial institutions including Asian Development Bank (ADB) and the World Bank will uphold the global switchgear market share. Refurbishment of power grids in war affected regions of Sudan, Iraq and Syria will further energize the industry outlook. The World Bank, in 2017, announced to invest USD 4 million in accordance to Rural Electrification Project II in Vanuatu for the development of power grid infrastructure in the Pacific Island.
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Growing demand for restoration of existing infrastructure along with robust deployment of modern distribution networks will positively influence the U.S. switchgear market share. Rising investments in the projects pertaining to railroad infrastructure supported by government-assisted peninsula grid project will propel the industry dynamics. The U.S. Federal Administration, in 2017, announced to allocate USD 100 million toward the development of rail networks in San Carlos within the Peninsula Corridor Project.
Eminent players in the switchgear market include ABB, Siemens, GE, EATON, Mitsubishi Electric Systems, Schneider Electric, Toshiba, BHEL, Hitachi, Crompton Greaves, Powell Industries, Hubbell power systems, Hyosung, Fuji Electric, Rittal, Larson & Toubro, Hyundai Ideal Electric, Iljin Electric and Ormazabal.
Switchgear Market Segmentation:
Chapter 4 Switchgear Market, By Voltage
4.1 Switchgear market share by voltage, 2017 & 2024
4.2.1 Global market from LV, 2013 - 2024
4.2.2 Global market from LV, by region, 2013 - 2024
4.3.1 Global market from MV, 2013 - 2024
4.3.2 Global market from MV, by region, 2013 - 2024
4.4.1 Global market from HV, 2013 - 2024
4.4.2 Global market from HV, by region, 2013 - 2024
Chapter 5 Switchgear Market, By Insulation
5.1 Switchgear market share by insulation, 2017 & 2024
5.2.1 Global market from Air, 2013 - 2024
5.2.2 Global market from Air, by region, 2013 - 2024
5.3.1 Global market from Gas, 2013 - 2024
5.3.2 Global market from Gas, by region, 2013 - 2024
5.4.1 Global market from Oil, 2013 - 2024
5.4.2 Global market from Oil, by region, 2013 - 2024
5.5.1 Global market from Vacuum, 2013 - 2024
5.5.2 Global market from Vacuum, by region, 2013 - 2024
5.6.1 Global market from Others, 2013 - 2024
5.6.2 Global market from Others, by region, 2013 - 2024
Chapter 6 Switchgear Market, By Installation
6.1 Switchgear market share by installation, 2017 & 2024
6.2.1 Global market from Indoor, 2013 - 2024
6.2.2 Global market from Indoor, by region, 2013 - 2024
6.3.1 Global market from Outdoor, 2013 - 2024
6.3.2 Global market from Outdoor, by region, 2013 - 2024
Chapter 7 Switchgear Market, By Current
7.1 Switchgear market share by current, 2017 & 2024
7.2.1 Global market from AC, 2013 - 2024
7.2.2 Global market from AC, by region, 2013 - 2024
7.3.1 Global market from DC, 2013 - 2024
7.3.2 Global market from DC, by region, 2013 - 2024
Chapter 8 Switchgear Market, By Application
8.1 Switchgear market share by application, 2017 & 2024
8.2 Residential & Commercial
8.2.1 Global market from Residential & Commercial, 2013 - 2024
8.2.2 Global market from Residential & Commercial, by region, 2013 - 2024
8.3.1 Global market from Industrial, 2013 - 2024
8.3.2 Global market from Industrial, by region, 2013 - 2024
8.4.1 Global market from Utility, 2013 - 2024
8.4.2 Global market from Utility, by region, 2013 - 2024
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