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Global Switchgear Market Will Reach USD 156.8 Billion by 2022: Zion Market Research

According to the report, global switchgear market was valued at USD 89.9 billion in 2016 and is expected to reach USD 156.8 billion in 2022, growing at a CAGR of 9.7% between 2017 and 2022.

/EIN News/ -- Sarasota, FL, Aug. 09, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Switchgear Market (By Voltage: Low Voltage, Medium Voltage, High Voltage; By Insulation: Air, Gas, Oil, vacuum; and By End Users: Utilities, Industrial, Residential & Commercial): Global Market Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global switchgear market was valued at USD 89.9 billion in 2016 and is expected to reach USD 156.8 billion in 2022, growing at a CAGR of 9.7% between 2017 and 2022.    

In modern power system network, switchgear protection plays an essential role right from generation through transmission to distribution end. In an electric power system, switchgear is the arrangement of electrical switches, fuses or circuits breakers need to control protect and isolate electrical equipment. The function of carrying, making and breaking the normal load current similar to a switch has been performed by switchgear and it also has to carry out the function of clearing the faults. The device utilized for controlling switching and protecting the equipment and electrical circuits is known as switchgear. In addition to that switchgear also has the provision of metering and regulating the various parameters of electrical power system. This type of equipment is directly related to the reliability of the electricity supply.

Browse through 20 Market Tables and 27 Figures spread through 120 Pages and in-depth TOC on "Global Switchgear Market: By Industry Type, Share, Trends, Analysis and Forecast 2016 – 2022”.

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Asia Pacific region dominated the global industry in switchgear market. Asia Pacific was the most attractive market for switchgear in 2016. In Asia Pacific region, the improvement in the number of distribution and transmission lines and development in countries such as China and India is largely determined. The developing countries in this region are striving to strengthen power system and investing to improve their voltage level to connect remote areas in the region. Large electrical infrastructure up-gradation and new transmission and distribution lines being installed in China.

Asia Pacific region dominated the global industry in switchgear market. Asia Pacific was the most attractive market for switchgear in 2016. In Asia Pacific region, the improvement in the number of distribution and transmission lines and development in countries such as China and India is largely determined. The developing countries in this region are striving to strengthen power system and investing to improve their voltage level to connect remote areas in the region. Large electrical infrastructure up-gradation and new transmission and distribution lines being installed in China.

Browse the full " Switchgear Market (By Voltage: Low Voltage, Medium Voltage, and High Voltage; By Insulation: Air, Gas, Oil, and Vacuum; and By End Users: Utilities, Industrial, and Residential & Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022" report at https://www.zionmarketresearch.com/report/switchgear-market

In 2016, U.S declared an investment of about USD 900 million towards the restoration of the transmission network. North America currently has a market for replacement of old installations and grid up gradation. To drive the market along with capacity improvement and saving in offshore wind farms are expected to the growth in the market. In 2015, the establishment of electrical grid infrastructure is expected in Egypt for the growth in switchgear market. In 2017, towards the development of electric infrastructure in Africa world bank declared an investment of USD 23.2 million.

UK switchgear market will observe strong growth along with adoption of the separate energy system and encouraging government initiatives towards renewable integration. In the UK, national grid announced a development of the electric grid and pipe network in the region for the growth of switch gear market.

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Some of the major players involved in the global switchgear market include ABB, Crompton Greaves, Larsen and Turbo, Schneider Electric, Siemens, GE, Eaton, Mitsubishi Electric Systems, Toshiba, Schneider Electric, Bharat Heavy Electrical Limited, Hubbell Power System inc. Rittal, Meidensha Corporation, and Ormazabal.

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This report segments the global switchgear market as follows: 

Switchgear Market: Voltage Analysis

  • Low Voltage
  • Medium Voltage
  • High Voltage

Switchgear Market: Insulation Analysis

  • Air
  • Gas
  • Oil
  • Vacuum

Switchgear Market: End Users Analysis

  • Utilities
  • Industrial
  • Residential & Commercial

Switchgear Market: Regional Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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