USD 89.40 Billion in 2016 to USD |
The switchgear industry is fragmented |
144.41 Billion by 2021 , at a CAGR of |
and offers several opportunities for |
10.07 % from 2016 to 2021 . Increasing |
consolidation and growth in efficiency |
investments in transmission and |
through an increase in economies of |
distribution network development and |
scale . The industry has low entry and |
growing need for efficient and reliable |
exit barriers . The top players in the |
power are driving the global switchgear |
switchgear market include ABB Ltd . |
market . |
( Switzerland ), TE Connectivity |
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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
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( 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 and distribution utilities , manufacturing and process industries , commercial and residential infrastructure , and others
( mining , marine , offshore power generation , and transportation ); and region – Asia-Pacific , Europe , North
America , South America , and the
Middle East and Africa .
After arriving at the overall market size , the total market has been split into several segments and sub-segments .
The figure below shows the breakdown
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In this report , the switchgear market |
of the primaries on the basis of |
has been analyzed with respect to five |
company type , designation , and region , |
regions , namely , North America , |
conducted during the research study . |
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Europe , Asia-Pacific , South America , and the Middle East and Africa . The
Asia-Pacific region holds the largest market for switchgear , driven largely by the number of transmission and 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 and distribution infrastructure upgrade , energy efficiency measures , and renewable projects .
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The original equipment manufacturers of switchgear include ABB Ltd .
( Switzerland ), Eaton Corporation
( Ireland ), GE ( U . S .), Schneider Electric
SE ( France ), and Mitsubishi Electric
Corporation ( Japan ) among others . The end-users include United States
National Grid ( USNG ) ( U . S .), State Grid
Corporation of China ( SGCC ) ( China ),
Power Grid Corporation of India Ltd .
( PGCIL ) ( India ), Brazilian Electricity
Regulatory Agency ( ANEEL ) ( Brazil ), and Tenaga Nasional Berhad ( TNB )
( Malaysia ) among others .
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