Dublin, June 06, 2019 (GLOBE NEWSWIRE) -- The "Switchgear Market by Insulation (GIS and AIS), Installation (Indoor and Outdoor), End User (T&D Utilities, Industries, Commercial and Residential), Voltage (Low, Medium, and High), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The switchgear market is estimated to be valued at USD 96.1 billion in 2018 and is projected to reach USD 143.5 billion by 2024, at a CAGR of 6.9%.
A switchgear is a switching equipment used for the transmission of electricity and for switching, controlling, and protecting devices such as electrical switches, surge arrestors, electrical fuses, isolators, circuit breakers, Miniature Circuit Breakers (MCB), relays, control panels, lightning arrestors, current transformers, potential transformers, and various associated equipment.
The switchgear market typically comprises products offered by Original Equipment Manufacturers (OEMs) and third-party vendors for utilities, industries, residential & commercial, and others. The primary function of a switchgear is to ensure reliable electrical supply; protect valuable equipment from electrical surges, overcurrent, and faults; and ensure safe human operation, thereby making it an integral part of the power network system, right from generation to T&D in the power market.
The factors driving the market include the growing demand for reduction in T&D losses, aging infrastructure, need for increasing government support. The major players in the switchgear market are ABB Ltd., Schneider Electric SE, Siemens, General Electric, and Eaton.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Aging Power Infrastructure
5.2.1.2 Revival of Investments in the Construction Sector
5.2.1.3 Growing Investments In Renewable Energy
5.2.2 Restraints
5.2.2.1 Harsh Environmental Conditions
5.2.2.2 Increasing Competition From the Unorganized Sector of the Switchgear Market
5.2.3 Opportunities
5.2.3.2 Execution of Performance-Based Incentive Schemes and Definite Service Programs to Provide Continuous and Hassle-Free Electricity to The End Users
5.2.3.3 Adoption of Hvdc Technology
5.2.4 Challenges
5.2.4.1 High Cost of Switchgear
5.2.4.2 Stringent Environmental and Safety Regulations for Sf6 Switchgears
6 Switchgear Market, By Insulation
6.1 Introduction
6.2 GIS
6.2.1 Asia Pacific Holds the Largest Region for GIS Switchgear Market
6.3 AIS
6.3.1 Asia Pacific is Expected to Grow at the Fastest CAGR From 2019-2024
7 Switchgear Market, By Installation
7.1 Introduction
7.2 Indoor
7.2.1 Europe is the Second Largest Market for Indoor Segment
7.3 Outdoor
7.3.1 Asia Pacific is the Largest Market for Outdoor Segment
8 Switchgear Market, By End-User
8.1 Introduction
8.2 T&D Utilites
8.2.1 Rising Investments in T&D Networks is Expected to Drive the T&D Utilities Segment
8.3 Industries
8.3.1 Reduced Industrial Downtime and Improved Efficiency are Major Factors Driving Growth of Switchgear in Industries Segment
8.4 Commercial & Residential
8.4.1 Asia Pacific Holds the Largest Market for Switchgear in Commercial & Residential Segment
8.5 Others
9 Switchgear Market, By Voltage
9.1 Introduction
9.2 Low Voltage
9.2.1 Asia Pacific is the Largest Market for Low Voltage Switchgear
9.2 Medium Voltage
9.2.1 Aeurope is the Second Largest Market for Medium Voltage Switchgear
9.3 High Voltage
9.3.1 Asia Pacific is Expected to Grow at the Fastest CAGR During the Forecast Period
10 Switchgear Market, By Region
11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping (Overall Market)
11.3.1 New Product Development Dynamic Differentiators
11.3.2 Innovators
11.3.3 Visionary Leaders
11.3.3 Emerging Companies
11.3 Competitive Scenario
11.3.1 New Product Development
11.3.2 Mergers & Acquisitions
11.3.3 Contracts & Agreements
12 Company Profiles
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