Switchgears Market Poised for Steady Growth in the Future Market Intelligence Report Switchgears, 2014-2020 | Page 4
followed by North America South America , and Europe respectively . Asia-Pacific switchgear market is expected to maintain its dominance in global switchgear market during the forecast period . Emerging countries like India and China in Asia-Pacific region are extensively up grading and installing new transmission lines and distribution networksto uphold the infrastructural developments , which is expected to be major driving factor of global switchgear market . On country level , China dominates in the global switchgear market with more than 18-20 % of share . Against the dynamic economic conditions , the Eastern and Western Europe switchgear market are also expected to contribute significant amount of share inglobal switchgear market during the forecast period due to the increasing infrastructure development for renewable energy sources . North America switchgear market is also expected to contribute significant amount of shares during forecast period due to various factors like growing market for grid modernization , replacement of old installations along with capacity enhancement .
On the basis of operating voltage rating , the global switchgear market is segmented into three categories which are global low voltage switchgear market , global medium voltage switchgear market and global high voltage switchgear market . Rapid growth in industrialization of small and medium scales in developing countries like China , India and developed countries like Japan is expected to be prominent countries for low and medium voltage switchgear market . In terms of market shares medium voltage switchgear market segment dominates the global switchgear market , whilst in terms of growth rate low voltage switchgear market is projected to offer double digit CAGR , higher than that of other voltage sub-segments .
Report Description
followed by North America South America , and Europe respectively . Asia-Pacific switchgear market is expected to maintain its dominance in global switchgear market during the forecast period . Emerging countries like India and China in Asia-Pacific region are extensively up grading and installing new transmission lines and distribution networksto uphold the infrastructural developments , which is expected to be major driving factor of global switchgear market . On country level , China dominates in the global switchgear market with more than 18-20 % of share . Against the dynamic economic conditions , the Eastern and Western Europe switchgear market are also expected to contribute significant amount of share inglobal switchgear market during the forecast period due to the increasing infrastructure development for renewable energy sources . North America switchgear market is also expected to contribute significant amount of shares during forecast period due to various factors like growing market for grid modernization , replacement of old installations along with capacity enhancement .
On the basis of operating voltage rating , the global switchgear market is segmented into three categories which are global low voltage switchgear market , global medium voltage switchgear market and global high voltage switchgear market . Rapid growth in industrialization of small and medium scales in developing countries like China , India and developed countries like Japan is expected to be prominent countries for low and medium voltage switchgear market . In terms of market shares medium voltage switchgear market segment dominates the global switchgear market , whilst in terms of growth rate low voltage switchgear market is projected to offer double digit CAGR , higher than that of other voltage sub-segments .