Switchgear Market Worth 144.41 Billion USD by 2021
PUNE, India, April 26, 2016 /PRNewswire/ --
The report "Switchgear Market by Voltage (<1 kV, 1 to 52 kV, and >52 kV), by End-user (Transmission & Distribution Utilities, Manufacturing & Process Industries, and Commercial & Residential Infrastructure), and by Region - Global Trends & Forecast to 2021" published by MarketsandMarkets, The Switchgear Market is expected to grow from an estimated USD 89.40 Billion in 2016 to USD 144.41 Billion by 2021, at a CAGR of 10.07% from 2016 to 2021. Increasing investments in transmission & distribution network development and growing need for efficient & reliable power are driving the global Switchgear Market.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 71 market data Tables and 52 Figures spread through 158 Pages and in-depth TOC on "Switchgear Market"
http://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html
Early buyers will receive 10% customization on this report.
Increasing preference for low voltage switchgear of capacity <1 kV
The <1 kV switchgears are used to control power supply and protect low voltage equipment in an electrical circuit. These switchgears are extensively used in commercial, residential, and industrial applications for various purposes; therefore, the demand for low voltage switchgears is in-line with industrial and urban developments, globally.
Transmission & distribution utilities is the largest end-user segment
Switchgears reduce the risk of losing costly instruments and equipment, due to current and voltage fluctuations in the power network systems. They are used for switching the power supply given to the equipment or the circuit during the event of a fault. With increasing electricity access worldwide, the number of substations would increase, which in turn would raise the demand for switchgears.
Asia-Pacific is the dominant market for switchgears
In this report, the Switchgear Market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The Asia-Pacific region holds the largest market for switchgear, driven largely by the number of transmission & distribution line upgrades and developments in China, India, and the ASEAN countries. The region would continue to dominate the market during the forecast period, due to strong smart grid initiatives, high investments in transmission & distribution infrastructure upgrade, energy efficiency measures, and renewable projects.
Make an Enquiry: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=1162268
The switchgear industry is fragmented and offers several opportunities for consolidation and growth in efficiency through an increase in economies of scale. The industry has low entry and exit barriers. The top players in the Switchgear Market include ABB Ltd. (Switzerland), TE Connectivity (Switzerland), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Alstom (France), General Electric Company (U.S.), Crompton Greaves Ltd. (India), and Eaton Corporation (Ireland).
Dominant players are trying to penetrate developing economies and adopting various methods to grab the market share. The scope of the report aids market participants to identify high growth markets and help managing key investment decisions.
The report segments the market on the basis of voltage range -<1 kV, 1 kV-52 kV and >52 kV; end-user - transmission & distribution utilities, manufacturing & process industries, commercial & residential infrastructure, and others (mining, marine, offshore power generation, and transportation); and region - Asia-Pacific, Europe, North America, South America, and the Middle East & Africa. Each region has been further studied on the basis of its important country markets.
Browse Related Reports:
High Voltage Cables Market by Type (Overhead, Underground, & Submarine), by Overhead Products (Conductors, Fittings & Fixtures), by Underground and Submarine Products (XLPE Cables, MI Cables, Cable Joints, & Cable Terminations), and by Region - Global Trends & Forecasts to 2020
http://www.marketsandmarkets.com/Market-Reports/high-voltage-cable-accessories-market-95892251.html
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 2020
http://www.marketsandmarkets.com/Market-Reports/gas-insulated-switchgear-market-234770702.html
About MarketsandMarkets
MarketsandMarkets is the world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. 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.
M&M'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. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: [email protected]
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/energy-and-power
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
SOURCE MarketsandMarkets
Share this article