DUBLIN--(BUSINESS WIRE)--Aug 23, 2018--The “Switchgear Market Report: Trends, Forecast and Competitive Analysis” report has been added to ResearchAndMarkets.com’s offering.
The global switchgear market is expected to reach an estimated $110.7 billion by 2023 and is forecast to grow at a CAGR of 4.7% from 2018 to 2023.
The future of the switchgear market looks attractive with opportunities in the utilities, industrial, residential, and commercial sectors. The major growth drivers for this market are increasing demand for electricity, growing implementation of smart grid technology, and continuing investment in upgrading transmission and distribution systems.
Emerging trends, which have a direct impact on the dynamics of the switchgear industry, include the development of digital switchgear and growing focus on eco-efficient switchgear.
The low voltage switchgear is expected to remain the largest segment and is expected to experience the highest growth during the forecast period due to increasing construction activities and renewable energy installations.
Within the switchgear market, utilities will remain the largest end use market due to the continuous expansion in electrical infrastructure to fulfill growing electricity demand. Switchgear for the residential end use is expected to witness the highest growth in the forecast period supported by growing urbanization and rapid electrification.
Asia Pacific is expected to remain the largest market and is also expected to witness the highest growth over the forecast period. Increasing electricity demand due to growing population, economic expansion, urbanization, industrialization, and rural electrification projects, particularly in India and China, are leading the demand for switchgear.
Some of the switchgear companies profiled in this report include ABB, General Electric, Schneider Electric, Mitsubishi, Siemens AG, Eaton, Hitachi, and CG Power and Industrial Solutions.
Scope of the Report
Switchgear Market by Voltage Type [$B shipment analysis from 2012 to 2023]:High Voltage Medium Voltage Low Voltage
Switchgear Market by Product Type [$B shipment analysis from 2012 to 2023]:Other Low Voltage Switchgear Metal Enclosed & Metal Clad MCCB Fuse Power Circuit Breaker Other Medium & High Voltage Switchgear
Switchgear Market by End Use Industry [$B shipment analysis from 2012 to 2023]:Utilities Industrial Residential Commercial
Key Topics Covered:
1. Executive Summary
2. Switchgear Market Background and Classification
3. Market Trends and Forecast Analysis from 2012 to 2023
4. Market Trends and Forecast Analysis by Region
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading PlayersABB Ltd. Alstom SA Bharat Heavy Electricals Ltd. CG Power and Industrial Solutions Limited Eaton General Electric Havells India Ltd. Mitsubishi Electric Corporation Schneider Electric Siemens AG
For more information about this report visit https://www.researchandmarkets.com/research/xwzmrh/global_switchgear?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180823005279/en/
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Related Topics:Electrical Switches
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 08/23/2018 05:17 AM/DISC: 08/23/2018 05:17 AM