Global Air Insulated Switchgear Market 2019-2023| Grid Resiliency to Promote Growth| Technavio
LONDON--(BUSINESS WIRE)--Nov 28, 2018--The global air insulated switchgear market is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by .
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Technavio has released a new market research report on the global air insulated switchgear market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increase in renewable power generation capacity. To reduce global warming and other environmental pollutions, several countries are adopting methods to generate power from renewable sources. Countries such as China, the US, India, and the EU countries are some of the leading nations that are adopting and implementing methods to generate power from renewable sources. In terms of capacity of generating power from renewable sources, China is leading by accounting for more than 40% of the global increase in renewable power generation capacity between 2011 and 2018.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights grid resiliency as one of the key emerging trends in the global air insulated switchgear market:
Global air insulated switchgear market: Grid resiliency
The ability to restore the normal working state after disasters or natural calamities is known as the resilience of a grid. For example, countries such as the US have to renovate and upgrade most of its TSB grids after natural disasters like Hurricanes Harvey, Irma, and Maria. The US government is improving grid resilience to avoid damages of grids. The adoption of smart grids, hardening grids, increasing distribution generation resources, and integration of loT in power transmission are the four main objectives for grid resilience.
“The trend of grid resilience is primarily found in the US. Countries such as China, Japan, India, and other European countries are expected to invest in grid resilience to improve the resilience of power grids. At the event held in San Francisco in September 2018 on grid resilience, attended by participants from China, Australia, and the US, discussions were held on efforts and investments to increase grid resilience in countries such as China, Australia, and the US. An increased number of countries are expected to invest in grid resilience during the forecast period,” says a senior analyst at Technavio for research on human machine interface.
Global air insulated switchgear market: Segmentation analysis
This market research report segments the global air insulated switchgear market by voltage (low voltage AIS, medium voltage AIS, and high voltage AIS) and by geographical regions (APAC, EMEA, and the Americas).
APAC led the market in 2018 with a market share of nearly 47%. This region is expected to dominate the market through 2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 11/28/2018 12:23 AM/DISC: 11/28/2018 12:23 AM