PUNE, India, August 28, 2017 /PRNewswire/ --
The report "Switchgear Market by Voltage (< 1 KV, 1-36 KV, 36-72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to grow from an estimated USD 88.71 Billion in 2017 to USD 125.10 Billion by 2022, at a CAGR of 7.12%, from 2017 to 2022. The global market is set to witness a significant growth due to the continued growth of construction and developmental activities, increasing access to electricity, and growth of renewable power generation projects.
Browse 68 Market Data Tables and 51 Figures spread through 144 Pages and in-depth TOC on "Switchgear Market - Global Forecast to 2022"
Early buyers will receive 10% customization on this report
The transmission and distribution utilities segment is expected to hold the largest share of the Switchgear Market, by end-user, during the forecast period.
The transmission and distribution utilities sub-segment of the end-user segment led the Switchgear Market in 2016 and is projected to dominate the market during the forecast period. The transmission and distribution utilities segment is also expected to grow at the fastest rate during the forecast period.
The growth of the transmission and distribution utilities segment is primarily driven by increasing investments in sub-station automation, modernization of electric grid, and smart utilities which includes smart grids and smart meters. This would enhance the protection by decreasing energy losses, due to poor operational efficiency of traditional equipment. This would ultimately create new revenue pockets for the Switchgear Market during the forecast period.
Download PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=1162268
The gas insulated switchgear is expected to hold the largest share of the Switchgear Market, by equipment, during the forecast period.
The gas insulated switchgear sub-segment of the equipment segment led the Switchgear Market in 2016 and is projected to dominate the market during the forecast period. Rising energy demand and extension/replacement of old switchgear at sub-stations can drive the gas insulated switchgear equipment in the Switchgear Market. However, the circuit breaker sub-segment accounted for the second largest share in 2016 in the Switchgear Market, based on the equipment segment.
North America: The leading market for switchgear
In this report, the Switchgear Market has been analyzed with respect to five regions, namely, Asia Pacific, Europe, North America, the Middle-East and Africa, and South America. The market in Asia Pacific led the global Switchgear Market in 2016. Increasing grid investments especially in developing economies, such as China and India and plans for electrification in remote areas in countries, such as Vietnam, Indonesia, and the Philippines are expected to drive the Switchgear Market in Asia Pacific. Indonesia aims to achieve 90% electrification rate by 2025 and the countries, such as the Philippines and Malaysia have similar plans. Rise in investments in smart grid technologies including distribution grid automation, smart meters, and demand response systems in countries, such as Japan, South Korea, and Australia would create opportunities for the Switchgear Market in the Asia Pacific region.
Make an Inquiry @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=1162268
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the Switchgear Market. The key players include ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), EATON CORPORATION plc (Ireland), Hitachi Ltd. (Japan), Schneider Electric SE (France), and Mitsubishi Electric Corporation (Japan) among others. The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.
Browse Related Reports:
Gas Insulated Switchgear Market by Type (High & Medium), Sub-Type (Primary & Secondary), End-User (Transmission & Distribution, Manufacturing & Processing, Infrastructure & Transportation and Power Generation) & Region - Global Forecast to 2021
Air Insulated Switchgear Market by Voltage Range (3 kV-36 kV and >36 kV), Installation (Indoor and Outdoor), Application (Transmission & Distribution, Manufacturing & Processing, and Infrastructure & Transportation), and Region - Global Forecast to 2022
Subscribe Reports from Energy and Power Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Visit Our Blog @ http://www.marketsandmarketsblog.com/market-reports/energy-and-power
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets