Dublin, Nov. 20, 2020 (GLOBE NEWSWIRE) -- The "Switchgear Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global switchgear market is expected to register a CAGR of 7% during the forecast period (2020 - 2025). The rising energy demand to encourage rapid urbanization and the new generation mix is expected to propel the switchgear market. Switchgear equipment is fundamentally used in the complex electrical substations to withstand fluctuating operating voltage in highly volatile environmental conditions. The development of new industrial structures, including powerplants for safe and reliable operations, is further estimated to stimulate the growth of the market.
Key Market Trends
Gas Insulated Switchgear Hold Significant Market Share
The Gas Insulated Switchgear (GIS) is expected to hold the maximum share in the global switchgear market. Gas-insulated switchgear (GIS) is a metal encapsulated switchgear which consists of high-voltage components such as circuit-breakers and disconnectors. A GIS is majorly used in confined spaces, such as in city buildings, office spaces, offshore platforms, extensions, on roofs, etc.
Asia-Pacific Dominates the Market
The Asia-Pacific market is expected to drive the global switchgear market during the forecast period. The significant factors contributing to the dominance in this region are the upgradation of the aging electrical grid infrastructure and increasing electricity demand in the region.
The global switchgear market appears to be fragmented owing to the presence of several established and regional switchgear manufacturers and is quite competitive. The vendors are constantly innovating new solutions to maintain their market share. Some of the key developments in the market are:
In April 2020 - ABB expanded its UniGear medium-voltage switchgear portfolio by introducing UniGear ZS1 63 kA, which further strengthens the portfolio. It can be used for demanding applications, like power stations and steel, oil and gas, and chemical plants.
Reasons to Purchase this report:
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
4.3 Assessment of Impact of COVID-19 on the Switchgear Market
5 MARKET DYNAMICS
5.1 Introduction to Market Dynamics
5.2 Market Drivers
5.2.1 Growth of Smart Electricity Grid Infrastructure
5.2.2 Growing Focus on Infrastructure and Renewable Energy Sources
5.3 Market Restraints
5.3.1 Stringent Environmental and Safety Regulations
5.3.2 Increasing Competition from the Unorganized Sectors
6 TECHNOLOGY SNAPSHOT
7 MARKET SEGMENTATION
7.1 By Type
126.96.36.199 Gas Insulated Switchgear (GIS)
188.8.131.52 Air Insulated Switchgear (AIS)
184.108.40.206 Other Insulation Types
7.2 By End-user Industry
7.3.1 North America
7.3.4 Latin America
7.3.5 Middle-East & Africa
8 COMPETITIVE LANDSCAPE
8.1 Company Profiles
8.1.1 ABB Ltd.
8.1.2 Havells India Ltd.
8.1.3 Mitsubishi Electric Corporation
8.1.4 Schneider Electric
8.1.5 Siemens AG
8.1.6 Eaton Corporation
8.1.7 Toshiba International Corporation
8.1.8 Meidensha Corporation
8.1.9 Hitachi, Ltd.
8.1.10 Crompton Greaves Power and Industrial Solutions Limited
8.1.11 Powell Industries
8.1.12 Fuji Electric Co., Ltd.
9 INVESTMENT ANALYSIS
10 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/lzx5hd
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