Switchgear Market: high demand for gas insulted switchgear in Europe for power and industrial applications.
Switchgear is the group of electrically disconnected switches, fuses or circuit breakers that are utilized to regulate, defend and segregate electrical equipment. Fuses are positioned after every disconnection as it acts as a sacrificial device to provide overcurrent protection, of high voltage and the low voltage side of large power transformers. There is high scope for the switchgear systems in the Switchgear Market during 2016-2021.
Regional Forecast and Scope of the Switchgear Market:
The Switchgear Market research report by IndustryARC suggests that the rising investments in the broadcast and circulation of infrastructure coupled with the growing demand for renewable energy sources are the major factors driving the demand for switchgear across the globe. The medium voltage switchgear segment dominates the market, where as in terms of growth rate low voltage switchgear is projected to offer double digit CAGR, higher than that of other types through 2021.
Asia-Pacific holds the major market share in the Switchgear Market followed by North America & Europe. The highest demand for switchgear comes from the Asia Pacific region, owing to the increasing requirement for high and medium voltage switchgears in this region. This region is expected to grow at a fast pace throughout the period 2016-2021.
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China alone holds a significant portion of the global Switchgear Market. The Europe and North America markets are estimated to witness significant growth in the medium-voltage switchgear segment due to the growing demand for renewable power generation through 2021.
Segmentation and Key Players of the Switchgear Market:
The Switchgear Market is segmented in different categories in the IndustryARC marketing analysis report by product type, by operating voltage level, by component, by application and by geography.
By product type: conventional switchgear, modular/ integrated switchgear and others
By operating voltage level: low, medium and high
By component: circuit breaker, relays, fuses, bus bars and others
By application: industries, utilities, residential, commercial and others
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Switchgear Market as mentioned in the IndustryARC research report are as follows:
- Siemens AG (Germany)
- Mitsubishi Electric Corporation (Japan)
- Eaton Corporation (Ireland), GE (U.S.)
- ABB Ltd. (Switzerland)
- Schneider Electric SA (France)
The Switchgear Market is a rapidly growing market with many applications of the switchgear and protection in various end user applications. Industrial switchgear has high demand in the industries and utilities and it is expected to witness high growth in various regions across the globe during 2016-2021.
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