Switchgear Market to Post 10.07% CAGR, States M&M in Comprehensive Report Available at MarketPublishers.com13 May 2016 • by Natalie Aster
LONDON – The global switchgear market is expected to expand at a CAGR of 10.07% through to 2021, reaching a value of USD 144.41 billion by the end of the forecasted period. Switchgear makes up an essential part in the power sector across different segments comprising power production, transmission and distribution, and facilities protection.
The sector is poised to hold strong promise for utilities due to improvements in the transmission and distribution infrastructure across the developed countries. The manufacturing and process industries represent the 2nd most growing end-user segment for switchgears. Meantime, commercial and residential infrastructure applications and others, including transportation and electric energy generation, account for a significant combined market share.
The developing economies of APAC are projected to register the highest tempo of growth, owing to a vast number of the upgrades of transmission & distribution lines and also ey developments in India, China and the ASEAN nations. The APAC region is likely to keep on dominating the marketplace moving forward on the back of strong incentives for smart grid developments and deployments, heavy investments in the development of the transmission and distribution infrastructure, energy efficiency policies and measures, and renewable energy projects. Governments of nations in the region have assumed various measures for renewable power programmes, thus pushing up demand for switchgears.
Siemens AG, ABB Limited, Mitsubishi Electric Corporation, Alstom, Crompton Greaves Ltd., TE Connectivity, General Electric Company, and Eaton Corporation are the leading participants in the industry.
Comprehensive research report “Switchgear Market” drawn up by M&M deeply reviews and examines the world’s market for switchgears, categorised based on voltage, end-user sector, and by geography; providing detailed revenues and forecasts for the overall market and each individual segment. An insightful analysis for major countries by voltage rating of switchgears is included, with coverage of historical trends and forecasts to 2021. The report gives an all-encompassing evaluation of the driving forces, limiting factors, opportunities and challenges with respect to the marketplace. It includes an insightful industry trends analysis, covering Porter's five forces analysis and an analysis of the value chain. The publication discusses the competitive scenario and gives a complete description of the top 16 industry players.
More studies by the publisher can be found at M&M page.