Global Switchgear Market is Expected to Reach $134.99 billion by 2023

Market Research Report on Global Switchgear Market

RAIPUR, INDIA, January 18, 2018 /EINPresswire.com/ --

Report Sellers has added a new market research report “Switchgear - Global Market Outlook (2017-2023)” to its offerings.

According to Report, the Global Switchgear Market is accounted for $82.98 billion in 2016 and expected to grow at a CAGR of 7.2% to reach $134.99 billion by 2023. The market is driven by continued growth of construction & developmental activities, increasing access to electricity in developing countries, and growth in renewable power generation. On the other hand, stringent environmental & safety regulations for sf6 switchgears and increasing competition from the unorganized sector of the switchgear market are inhibiting the market growth. Few trends that market is witnessing are upcoming smart cities, aging power infrastructure and HVDC transmission.

Based on end user, the transmission & distribution utilities segment is projected to grow at the fastest rate. This is due to the increasing investments in sub-station automation, modernization of electric grid, and smart utilities (smart grids and smart meters). In 2017, Blackstone Group LP declared an investment of USD 100 billion towards the refurbishment of aging infrastructure across the U.S. The investment is backed by the Saudi Arabia Public Investment Fund under the Strategic and Policy Forum.

The gas insulated switchgear segment led the market and is anticipated to dominate the market during the forecast period due to rising energy demand and extension/replacement of old switchgear at sub-stations. Further, In August 2016, GIL Automations supplied 33kV GIS for operations at the facility of an International Oil Company operating in Nigeria which includes design and fabrication of the 33kV switchgear. Excellent insulating property along with high reliability index will drive the global industry growth. Air insulated switchgear market share will grow moderately. Vacuum insulated Switchgear market will witness strong growth owing to its high impulse to withstand voltages and power frequencies. Pollution and noise free operation along with ease of timing and actuation stimulate the segment demand.
The key players in global Switchgear market are ABB Ltd, Alstom Grid, GE, BHEL, Crompton Greaves, Eaton, Hyosung Power and Industrial Systems, Mitsubishi Electric, Schneider Electric, Siemens, Powell Industries Inc. and Xian XD.

Browse through the complete description and in-depth TOC on “Global Switchgear Market”
https://www.reportsellers.com/market-research-report/Switchgear---Global-Market-Outlook-2017-2023

What does the Report Offers

• Market share assessments for the regional and country level segments
• Market share analysis of the top industry players
• Strategic recommendations for the new entrants
• Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments

Report Scope

Global Switchgear Market has been segmented by insulations covered, voltages covered, end users covered, currents covered, installations covered and regions covered

Insulations Covered:
Air
Oil
Gas
Vacuum
Other Insulations

Voltages Covered:
Low
Medium
High

End Users Covered:
Commercial and Residential Infrastructure
Manufacturing and Process Industries
Transmission & Distribution Utilities

Currents Covered:
DC
AC

Installations Covered:
Outdoor
Indoor

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
France
Italy
UK
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

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