DUBLIN, April 25, 2018 /PRNewswire/ --
The "Paralleling Switchgear Market by End-User (Industrial, Commercial), Application (Prime, Standby and Peak shave), Transition Type (Open Transition and Closed Transition), Voltage (Low Voltage and Medium Voltage), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The paralleling switchgear market is estimated to reach a market size of USD 1.17 Billion in 2018 and would grow at a CAGR of 5.82% from 2018 to 2023.
Increasing share of distributed generation, ageing and overburdening of power grids, and investment in industrial and commercial sectors such as oil & gas, telecommunication, construction, and mining are the key factors driving the paralleling switchgear market during the forecast period.
The report segments the paralleling switchgear market, by end-user, into industrial and commercial. The industrial segment led the paralleling switchgear market in 2017 as paralleling switchgear is used to provide backup power in every industrial setup to support critical loads. They are also placed along with generators at remote locations such as oil & gas and mining sites as the prime source of power.
The global paralleling switchgear market, by application, has been segmented into prime, standby, and peak shave. The standby segment is estimated to grow at the highest rate. Standby generators are a necessity to maintain continuity of power in many industries such as healthcare, data centers, and process industry.
The report further segments the paralleling switchgear market, by voltage, into low and medium. The low voltage segment is estimated to grow at the highest CAGR during the forecast period. The growing demand from the construction and telecommunications sectors is driving the low voltage segment, especially in countries such as China, India, Germany, US, Thailand, Vietnam, Malaysia, and Nigeria. Low voltage paralleling switchgear is preferred for industrial operations due to safer operations and in housing ability of multiple equipments at the same place. A rise in demand from the industrial sector is expected to drive the growth of the low voltage global paralleling switchgear market during the forecast period.
In this report, the paralleling switchgear market has been analyzed with respect to 5 regions, namely, Asia Pacific, Europe, North America, South America, and the Middle East and Africa. Asia Pacific is expected to dominate the paralleling switchgear market during the forecast period due to growing industrialization and increased investments in public infrastructure, especially in China, India, and countries in South-East Asia. The figure below shows the projected market size of various regions with respective CAGRs for 2023.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Paralleling Switchgear Market, 2018-2023
4.2 Paralleling Switchgear Market, By Application
4.3 Paralleling Switchgear Market, By Transition Type
4.4 Paralleling Switchgear Market, By End User
4.5 Paralleling Switchgear Market, By Region
4.6 Asia Pacific Paralleling Switchgear Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need for Reliable and Uninterrupted Power Supply
5.2.1.2 Ageing and Overburdened Power Grid in Developed Nations
5.2.1.3 Growth in Healthcare, Data Centers, and BFSI Sector
5.2.2 Restraints
5.2.2.1 Cost Constraint and Complexity in Control System
5.2.3 Opportunities
5.2.3.1 Emerging Distributed Generation Opportunities
5.2.4 Challenges
5.2.4.1 Alternative Power Technologies in Key End-User Segments
6 Paralleling Switchgear Market, By Application
6.1 Introduction
6.2 Prime
6.3 Standby
6.4 Peak Shave
7 Paralleling Switchgear Market, By End User
7.1 Introduction
7.2 Industrial
7.2.1 Utilities/ Power Generation
7.2.2 Oil & Gas
7.2.3 Other Industrial
7.3 Commercial
7.3.1 IT & Telecom
7.3.2 Healthcare
7.3.3 Other Commercial
8 Paralleling Switchgear Market, By Transition Type
8.1 Introduction
8.2 Open Transition
8.3 Closed Transition
9 Paralleling Switchgear Market, By Voltage
9.1 Introduction
9.2 Low Voltage
9.3 Medium Voltage
10 Paralleling Switchgear Market, By Region
11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking Analysis
11.3 Competitive Scenario
11.3.1 Contracts & Agreements,2014-2018
11.3.2 Expansions & Investments,2014-2017
11.3.3 New Product Launches,2014-2018
11.3.4 Mergers & Acquisitions,2014-2017
11.3.5 Partnerships, 2017
12 Company Profiles
12.1 Benchmarking
12.2 GE
12.3 Caterpillar
12.4 Cummins
12.5 Rolls-Royce (MTU Onsite Energy)
12.6 Kohler
12.7 Pioneer Power Solutions (Pioneer Critical Power)
12.8 Regal Beloit Corporation (Thomson Power Systems)
12.9 Schneider Electric (Asco Power Technologies)
12.10 Advanced Power Technologies
12.11 Enercon Engineering
12.12 Industrial Electric Mfg
12.13 Russelectric
For more information about this report visit https://www.researchandmarkets.com/research/p5dbvw/global?w=5
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SOURCE Research and Markets
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