Smart grid installations require precise control over various components of the electricity distribution system, making medium voltage switchgear essential to widening the reach of the technology.
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Switchgears are switching devices that are specially designed to regulate, control, and protect various types of power generation, distribution, and transmission equipment. It is also used to provide protection to different electric motor control systems installed across various end user segments.
In electric power systems, switchgears are a combination of circuit breakers or fuses and disconnect switches.
The global medium voltage switchgear market is anticipated to experience steady growth during the forecast period from 2017 to 2025 owing to rapid electrification and advent of smart grid technology across the world.
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For the purpose of providing an in-depth and exhaustive analysis of the medium voltage switchgear market across the globe, the market has been segmented on the basis of voltage, insulation, and end user. Based on different voltage ratings of medium voltage switchgear available in the market, the market has been classified into 3kV – 5kV, 6kV – 15kV, 17kV – 27kV and 28kV – 40kV.
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In 2016, among the different voltage ratings of medium voltage switchgear available in the market, the 6kV – 15kV switchgear segment held the largest market share in terms of revenue generation (USD billion).
Moreover, information related to demand for medium voltage switchgear across various end user segments including power plants, the commercial sector, the oil, gas, and petrochemicals sector, utilities, and the paper and pulp industry, among others, is also highlighted in this report. Furthermore, cross sectional analysis of the market segments across Asia Pacific, North America, Europe, the Middle East and Africa (MEA), and Latin America is furnished in the report.
Geographically, Asia Pacific dominated the global medium voltage switchgear market in 2016 in terms of both revenue generation and volume demanded, and is expected to maintain its leading position in the coming years also.
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Increasing demand for electrification along with adoption of smart grid technology in emerging countries is one of the primary factors expected to boost the demand from the medium voltage switchgear market in the coming years.
Countries such as India and China have taken significant steps to improve the penetration of electrification. In India, the government has decided to spend a significant part of the 12th five-year plan (2012-2017) on electrification projects.
In terms of competitive landscape, some of the major players operating in the global medium voltage switchgear market includes Schneider Electric SE (France), ABB (Switzerland), Siemens AG (Germany) and General Electric (the U.S) among others.
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