Press release
Switchgear Market 2021 Evolving Technology and Growth Outlook - ABB Ltd., Havells India Ltd., Mitsubishi Electric Corporation, Schneider Electric, Siemens, Eaton Corporation, Toshiba International Corporation
Switchgear Market - Growth, Trends And Forecasts (2020-2025)The Switchgear Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global switchgear market is expected to register a CAGR of 7% during the forecast period (2019-2024).
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Top Leading Companies of Switchgear Market are ABB Ltd., Havells India Ltd., Mitsubishi Electric Corporation, Schneider Electric, Siemens, Eaton Corporation, Toshiba International Corporation, Meidensha Corporation, Hitachi, Ltd., Crompton Greaves Power and Industrial Solutions Limited, Powell Industries and others.
Key Market Trends:
The Gas Insulated Switchgear Is Expected To Hold The Largest Share Of The Switchgear Market
- The Gas Insulated Switchgear (GIS) is expected to hold the maximum share in the global switchgear market. A gas insulated switchgear (GIS) is a metal encapsulated switchgear which consists of high-voltage components such as circuit-breakers and disconnectors. A GIS is majorly used in confined spaces, for example, in city buildings, office spaces, on offshore platforms, extensions, on roofs, etc.
- As compared to Air Insulated Switchgear (AIS), they are more environment-friendly, more reliable and more flexible. Also, the installation time and maintenance cost required for GIS is less than that of AIS. The major applications of GIS are power transmission, integration of renewable power generation units to the grid, and railways.
Asia-Pacific Dominates the Market
- The market in the Asia-Pacific leads the global switchgear market during the forecast period. The major factors responsible for the dominance in this region is due to the up gradation of aging electrical grid infrastructure and increasing electricity demand in the region.
- Also, the increasing infrastructure development for renewable energy sources, growing market for grid modernization, replacement of old installations along with capacity enhancement are some more factors stimulating the growth.
Key Developments in the Market:
- April 2019 - ABB introduces the air-insulated switchgear UniSec at the Hanover fair. It is a complete SF6-free switchgear solution for networks up to 24(kV). It uses the HySec AirPlus, a multifunction apparatus, combine the functions of a circuit breaker, line disconnector, and earthing switch all-in-one, which is now available with AirPlus insulation gas.
- January 2019 Mitsubishi Electric Corporation has developed two technologies for gas-insulated switchgear: an arc-cooling technology that achieves a 25% improvement in the interruption of electrical current in sulfur-fluoride (SF6) gas-insulated switchgear used in high-voltage power systems, and a high-density dielectric coating technology that improves insulation performance by 30% in high-voltage conductors.
Regional Outlook of Switchgear Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Switchgear Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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