Switchgears Market Poised for Steady Growth in the Future Market Intelligence Report Switchgears, 2014-2020 | Page 3

Report
Description
Report Description
High-intensity fault currents can damage the electricalequipment and devices of the
circuit and to minimize these failures and mitigate the aftereffects, switchgear or fuses
are employed. Fuses need to be replaced after every disconnection in the circuit as they
don’t provide re-closure functions, in such cases where setting up the circuit in its normal
functioning, switchgears are employed which provide the re-closure functioning at
various operating levels (High/low voltages). As the automation of process is booming
across all the industries, the global switchgear market is witnessing the tremendous
growth opportunities.On the basis of product types, switchgear market can be broadly
categorized as conventional switchgear and modular/integrated switchgear. The
conventional switchgear system comprises various components such as transformers,
circuit breakers and dis connectors, which needs more space for installation and
comparatively more costly than that of modular switch gear. To overcome these issues
modular type of switchgear are used by integrating these functions into one breaking
chamber of circuit breaker. With the trend of shifting from conventional switchgear to
modular/integrated the global switchgear market is projected to grow with double digit
CAGR.
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The global switchgear market is geographically segmented into seven key regions which
are, North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan
and Middle East & Africa.Asia-Pacific holds the major share in global switchgear market,