Press release
Switchgear Market 2021-2026 (Covid-19 Outbreak) Industry – Investment in Emerging Economies to Gain Market Share by Top Companies Analysis – ABB, Hyosung, Alstom, CG Power and Industrial Solutions, Hitachi
Global Switchgear Market Research Report 2021The Switchgear Market Research Report begins with an overview of the Market and offers throughout development. It presents a comprehensive analysis of all the regional and major player segments that give closer insights upon present market conditions and future market opportunities along with drivers, trending segments, consumer behavior, pricing factors, and market performance and estimation. The forecast market information, SWOT analysis, Switchgear market scenario, and feasibility study are the vital aspects analyzed in this report.
Global Switchgear Market size in 2019, was valued at over USD 120 billion and is anticipated to register over 6% gains up to 2026. Increasing investments toward infrastructural development along with growing demand for efficient transmission and distribution control systems will drive the business scenario.
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Over the next five years the Switchgear market will register a 5.6% CAGR in terms of revenue, the global market size will reach US$ 255.7 million by 2026.
Top Key Players in the Global Switchgear Market: are ABB, Hyosung, Alstom, CG Power and Industrial Solutions, Hitachi, Hyundai Heavy Industries, Schneider Electric, Siemens, Eaton, General Electric, Toshiba, Mitsubishi Electric, Powell Industries, TE Connectivity, Larsen & Toubro, Elektrobudowa, Zpue, Lucy Electric, Hawker Siddeley Switchgear, Sel
Industry News:
Zurich, September 23, 2020 - Hitachi ABB Power Grids today announced a strategic realignment of its global high-voltage switchgear manufacturing, engineering and service footprint to enhance competitiveness in a dynamic market environment marked by increasing competition. The move is expected to entail an investment of over $100 million to strengthen the High Voltage Products business which employs around 7,500 people globally, and support its profitable and sustainable growth.
Hitachi ABB Power Grids will invest in capabilities to serve the growing market needs in Asia, Middle East and Africa from its switchgear units in China, India, Saudi Arabia, Indonesia and Vietnam, to ensure customer proximity and competitiveness. Additionally, the company has a global engineering center in India which will be further strengthened to meet increasing demand.
Segment by Type
Below 1 kV
1-36 kV
36-72.5 kV
Below 1 kV
Segment by Application
Transmission and Distribution Utilities
Manufacturing and Process Industries
Commercial and Residential Infrastructure
The growing demand for electricity is expected to be a key driver of the switchgear market in the forecast period. This can be attributed to rising populations and increasing demand for electrical and electronic appliances, especially in developing countries such as China, India, Brazil and some African countries. Global electricity demand is projected to grow from 25,000 TWh in 2017 to 38,700 TWh by 2050, an increase of 57%.i Emerging economics such as China and India will account for a major portion of this growth. Electricity consumption in India is expected to grow at a CAGR of 7.1% during 2017 to 2022.ii Furthermore, the global household appliances manufacturing market is expected to grow from $334.3 billion in 2019 to $402.93 billion in 2023 at a CAGR of 4.8%iii, supporting the demand for residential switchgears market, going forward.
Regions are covered By Switchgear Market Report 2021
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Influence of the Switchgear Market Report:
-Comprehensive assessment of all opportunities and risks in the Switchgear market.
-Switchgear market recent innovations and major events.
-Detailed study of business strategies for the growth of the Switchgear market-leading players.
-Conclusive study about the growth plot of the Switchgear market for forthcoming years.
-In-depth understanding of Switchgear market-particular drivers, constraints, and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Switchgear market.
Read the full report:
https://www.marketinsightsreports.com/reports/02152606096/global-switchgear-market-research-report-2021?Mode=70
The report provides insights on the following pointers:
– Market Penetration: Comprehensive information on the product portfolios of the top players in the Switchgear market.
– Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.
– Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
– Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
– Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Switchgear market.
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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2016-2028 Global Gas Insulated Switchgear (GIS) Industry Market Research Report, Segment By Player, Type, Application, Marketing Channel, And Region
https://www.marketinsightsreports.com/reports/06022949963/2016-2028-global-gas-insulated-switchgear-gis-industry-market-research-report-segment-by-player-type-application-marketing-channel-and-region?mode=70
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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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