Press release
2020 Switchboards Market Global Demand, Growth, Opportunities, Top Key Players and 2023 Forecast
Switchboard Market
The global switchboard market was worth $ 71.83 billion in 2019. It is expected to grow at a rate of about 8% and reach $95.78 billion by 2023.
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The switchboard market consists of sales of switchboards and related services for distribution of electricity from one electrical source to another electrical source. Switchboards refers to the power distribution process system which consists of panels with different switches and indicators to direct and control electricity for functioning in circuits.
Increasing manufacturing efficiency of products for longer durability increases demand for the switchboards. Major companies are highly focusing on innovations to design switchboards. Incorporation of new technologies within the production tends to improve its efficiency and service life of the products. For instance, in 2018, the Shanghai municipal government and ABB signed a memorandum and invested about $2.4 billion in China for upgradation of functionality in building smart city with smart manufacturing for efficient and safe connectivity in Shanghai’s local enterprises. Increase in efficiency drives the demand for switchboard, thereby contributing to the growth of the market.
Switchboard Market Segmentation: -
By Type
Low-Voltage
Middle-Voltage
High-Voltage
By End Users
Industrial
Residential
Commercial
Other
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Few Points From Table Of Content
1. Executive Summary
2. Switchboard Market Characteristics
3. Switchboard Market Size And Growth
4. Switchboard Market Segmentation
5. Switchboard Market Regional And Country Analysis
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25. Switchboard Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Switchboard Market
27. Switchboard Market Trends And Strategies
28. Switchboard Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Switchboard Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Switchboard Market are ABB, Mitsubishi Electric, Schneider Electric, Emerson Process Management, Rockwell Automation.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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