Press release
Reforms in Power Industry to Boost Demand for High Voltage Switchgears
A new market study on the global high voltage switchgears market has been added to the huge repository of MarketResearchReports.biz. The research report, titled “High Voltage Switchgear Market, Update 2017 - Market Size, Competitive Landscape, Key Country Analysis, and Forecasts to 2021,” provides a complete overview of the worldwide market for high voltage switchgears on the basis of market segmentations, latest trends, and future projections.
The market study takes the current as well as the historical performance of the global high voltage switchgears market into consideration and presents a thorough and detailed report on the existing condition of this market. Further, this 238-page research report provides significant statistical data about the global high voltage switchgears market and, on the basis of this data, it projects the future of this market, making it a valuable source of guidance for the market players.
According to the study, the growth in the global market for high voltage switchgears is strengthened by the presence of a number of favorable reforms in the power industry intended to renovate and expand the transmission and distribution sector. The swift rise in the trend of urbanization and industrialization has also incited the demand for advanced technologies and the need for new and efficient reforms.
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In addition to this, the increasing uptake of smart grid technology across the world is having a significant impact on the sales of high voltage switchgears. The rise in the expenditure on the renewable sources of energy has also contributed to the growth of the high voltage switchgear market. Furthermore, the proposal for long distance, high-voltage direct current (HVDC) transmission is expected to boost the market for switchgear in the coming years.
On the other hand, the volatility in the prices of raw materials, issues related to terrorism and cyber security, and the substantial rise in the grey market that offers counterfeit, low-quality products at much cheaper rates, may impede the development of the global market for switchgears, notes the research study.
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As per the report, the worldwide market for high voltage switchgears has a strong presence across Asia Pacific, the Americas, the Middle East and Africa, and Europe. The Americas includes the markets in the U.S., Canada, and Brazil. The Germany, Russia, and the U.K. markets are included in the Europe market. The Asia Pacific market consists of the local markets in China, Japan, India, Australia, and the Republic of Korea while the Saudi Arabia market comes under the market in the Middle East and Africa.
The report has also studied the nature of the worldwide high voltage switchgears market by analyzing its competitive landscape on the basis of company profiles of major participants operating in this market. Eaton Corp., ABB Ltd., General Electric Co., Schneider Electric SE, and Siemens AG are leading players functioning in the global high voltage switchgear market. Some of the other players mentioned in this report are Powell Industries, Mitsubishi, Toshiba, OJSC Power, and BHEL.
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