To track and analyze competitive developments, such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the switchgear marketThe switchgear market is projected to grow at a CAGR of 7.12%, from 2017 to 2022.
The switchgear market is projected to reach USD 125.10 billion by 2022, at a CAGR of 7.12%, from 2017 to 2022.
Continuous growth of constructional and developmental activities, increasing access to electricity in developing countries, and growth in renewable power generation are the major drivers of the switchgear market. Price volatility of raw materials can hinder the growth of the switchgear market.
The transmission and distribution utilities sub-segment of the end-user segment is expected to grow at the highest CAGR, from 2017 to 2022.
The transmission and distribution utilities sub-segment of the end-user segment is expected to grow at the highest CAGR, during the forecast period.
Switchgears are used extensively to prevent damages of expensive and critical equipment in transmission and distribution utilities. Switchgear reduces the downtime and aid in faster response time.
Increasing investments in sub-station automation and smart grids can drive the growth in the transmission and distribution utilities segment of the switchgear market.
*Top 15 Companies Analyzed for This Studies are - The leading players in the switchgear market include ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), Eaton Corporation plc (Ireland),and Schneider Electric SE (France).
The target audience of this report includes:
- Switchgear manufacturers, dealers, and suppliers
- Transmission and distribution utilities
- State and national regulatory authorities
- Power generation plants
- Consulting companies in the energy and power sector
- Government and research organizations
- Environmental research institutes
- Process industries and power and energy associations
- Investment firms
Key point from table of content
6 Switchgear Market, By Voltage
6.2 <1 kV
6.3 1 kV to 36 kV
6.4 36 kV to 72.5 kV
7 Switchgear Market, By End-User
7.2 Transmission & Distribution Utilities
7.3 Manufactuirng and Process Industries
8 Switchgear Market, By Equipment
8.2 MCB & MCCB
8.3 Ring Main Unit
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