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Switchgear Market 2014 – Global Industry Key Growth Factor Analysis and Research Study till 2020
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The overall market for the switchgear is segmented on the basis of the current rating, voltage, insulating medium, construction type, interrupting device, type of current, application and purpose as well as on the basis of the geography to provide overall picture of the market. The global demand driven by the substantial investment in the T&D infrastructure and increasing demand for renewable sources of energy is expected to boost the growth of the switchgear market. However, increasing raw material prices is expected hamper the growth of this market.
Presently, Asia Pacific accounts for the highest demand for the Switchgear. The increasing demand for medium and high voltage switchgears is expected to drive the growth in this region. China is expected to be the leading market for global switchgears. The demand is driven by increasing investment in alternative sources of energy. In North America and Europe, the demand for renewable power generation is expected to open new market opportunities in medium-voltage switchgears market.
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Some of the market players in this industry segment are Xian XD Switch Gear Electric Co. Ltd., Siemens AG, Schneider Electric SA, OJSC Power Machines, Mitsubishi Electric Corp., Hyosund Corp., GE Co., Eaton Corp., Crompton Greaves Ltd., Bharat Heavy Electricals Ltd., Alstom SA, and ABB Ltd. among others.
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