Switchgear are the switching devices, comprises of electrical disconnect switches, circuit breakers which is used to protect and control the electrical equipment used in power generation, transmission and distribution.
The switchgears are applied to control the power supply of both high as well as the low voltage power systems or the transformer. The basis and the foremost function of the switchgears is to protect the electric appliances from the unusual damage mainly caused due to power fluctuations.
According to MarkNtel Advisors’ research report “Global Switchgear Market Analysis, 2020”, the market size for Switchgear across the globe is set to surge at a CAGR of around 6% during 2020-25. The switchgear market is the mature market due to its limited applications in the T& D utility, industrial and commercial power sectors. The rising trend in the global switch gear market can be witnessed on behalf of the boosting urbanization and industrialization in the emerging economies collaborated with revitalizing investment in the construction and infrastructure activities.
Further, the rising demand for energy efficient power generation and transmission system and the replacement of conventional aging transformers and grid with the smart automated technology in power generation, transmission and distribution, is expected to proliferate the global switchgear market in the upcoming years.
T&D Utility End User Segment holding the leading Market Share
In 2019, the T&D power generation, transmission and the distribution utility sector dominated the global switchgear market as revealed by MarkNtel Advisors, research report on “Global Switchgear Market Analysis, 2020”. The market dominance by the sector has been anticipated to prolong in the future owing to the increasing public- private investments in the power contributing the market growth.
Moreover, increasing technological enhancements in the power transmission and distribution system, in order to provide uninterrupted power supply and reduce the damage from power outages has been proliferating the market growth of medium and high voltage switchgear appliances from this sector.
According to Markntel Advisors, the substantial players in the global switchgear market includes ABB, Siemens, Schneider Electric, GE, Hyundai with more than 40% market share. The other players in the list of switchgear market includes, CG Power and Industrial, Fuji Electrics, Mitsubishi, and many others.
“Global Switchgear Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decision, hotspots and opportunities available for Switchgear providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Industry Segmentation:
1. By Insulation (Gas Insulated Switchgear, Air Insulated Switchgear, Oil Insulated Switchgear, Vacuum Insulated Switchgear)
2. By Installation (Indoor, Outdoor)
3. By Voltage (Low, Medium, High)
4. By End User (T&D Utility, Industrial, Commercial, Residential)
5. By Region (North America, South America, Europe, Middle East and Africa, and Asia- Pacific)
6. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, France, Saudi-Arabia, UAE, Kuwait, South Africa, China, India, Japan, South Korea, and Australia),
7. By Company (General Electrics, Hitachi, ABB, Siemens Group, Toshiba, Fuji Electrics, Mitsubishi, and Others)
1. Key questions answered in the study
1. What are the current and future market trends of the Global Switchgear industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Switchgear industry?
5. What are the customer orientation, purchase behavior, and expectations from the Switchgear suppliers across various regions?
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