Global Switchboards Market Outlook, 2030 - Consider Investing in Technologies for Manufacturing Ethernet Connected Switchboards to Capitalize on the Growing Demand for Energy Efficient Systems

DUBLIN, March 16, 2020 /PRNewswire/ -- The "Switchboards Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider switchboard market, and compares it with other markets.

The global switchboard market was worth $71.83 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 8% and reach $95.78 billion by 2023.

Increasing manufacturing efficiency of products for longer durability increases demand for the switchboards. Major companies are highly focusing on innovations to design switchboards. Incorporation of new technologies within the production tends to improve its efficiency and service life of the products. For instance, in 2018, the Shanghai municipal government and ABB signed a memorandum and invested about $2.4 billion in China for upgradation of functionality in building smart city with smart manufacturing for efficient and safe connectivity in Shanghai's local enterprises. Increase in efficiency drives the demand for switchboard, thereby contributing to the growth of the market.

The rising prices of raw materials is expected to limit the growth of the switchboard market. The volatility of prices in raw materials such as copper, aluminum and steel is expected to have a significant impact on manufacturing cost of switchboards increasing the expenses of manufacturers. For instance, in 2018, Schneider Electric predicted high prices of raw materials owing to high input costs due to new import tariffs in the USA and China impacting the company's business and bottom line.

Ethernet connected switchboards are widely being used in household and commercial buildings to save energy and reduce maintenance costs. Switchboards can be connected to a computer through an Ethernet cable. Electricity use, system status and other data is transmitted to the computer through the Ethernet cable. Data obtained on the computer is analyzed by energy experts and suggestions to minimize energy consumption. For example, Enerlin'x system manufactured by Schneider is a smart panel that transmits energy consumption data to computer through Ethernet and Modbus interfaces. For instance, some of the major companies manufacturing Ethernet connected switchboards include Schneider Electric, Southwire Company LLC, Siemens AG and Prysmian Group.

Establishments in the switchboard manufacturing market should consider investing in technologies for manufacturing Ethernet connected switchboards to capitalize on the growing demand for energy efficient systems.

In July 2018, ABB, a Switzerland-based automation company acquired GE Industrial Solutions for $2.6 billion. With this acquisition, ABB aimed to become market leader in electrification and expanding its footprint in the North American market. GE Industrial Solutions is a USA-based company that specializes in designing and selling electrical solutions such as circuit breakers, switchgear, components for lighting control and power supply equipments.

Major players in the market are ABB, Mitsubishi Electric, Schneider Electric, Emerson Process Management, Rockwell Automation, Siemens, Powerwell, GEDAC ELECTRIC, Kounis, and Aussie Switchboards.

Key Topics Covered

1. Executive Summary

2. Switchboard Market Characteristics

3. Switchboard Market Size and Growth
3.1. Global Switchboard Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Switchboard Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market

4. Switchboard Market Segmentation
4.1. Global Switchboard Market, Segmentation by Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Low-Voltage
• Middle-Voltage
• High-Voltage

4.2. Global Switchboard Market, Segmentation by End-users, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Industrial
• Residential
• Commercial
• Other

5. Switchboard Market Regional and Country Analysis
5.1. Global Switchboard Market, Split by Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Switchboard Market, Split by Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

• ABB
• Aussie Switchboards
• CandS Electric
• CUBIC
• Eaton
• Emerson Process Management
• GE
• Gedac Electric
• IEM
• Kounis
• Leoni
• Mastervolt
• Merriam-Webster
• Mitsubishi Electric
• Nilsen
• Powerwell
• Rockwell Automation
• Rolla
• ROMAC
• Schneider Electric
• Siemens

For more information about this report visit https://www.researchandmarkets.com/r/efqswo

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