The analysts forecast global switchgear contractor and relay market to grow at a CAGR of 6.38% during the period 2018-2022. One trend in the market is mobile substations: Solution for provisional needs.
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Certain emergency situations; such as natural calamities like earthquakes and cyclones; and catastrophic equipment failure demand the installation of electric substations that restore normal power supply as fast as possible.
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Mobile substations prove beneficial by catering to temporary and offshore needs, thus enabling utilities to efficiently restore electricity services to customers during outages. Mobile substations can be up-and-running within 24 hours of arrival.
They can also be used as high-voltage bays on mobile trucks. A hybrid switchgear is a compact and flexible substation.
Such attributes enable these substations to be installed inside limited space. Mobile substations are designed to accommodate the demanding design specifications, and this makes them uniquely flexible and mobile.
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Major key players in the global switchgear contractor and relay market: ABB, GE, Mitsubishi Electric, Schneider electric, and Siemens, BHEL, CG, Eaton, ELEKTROBUDOWA, ELECTROALFA, HYOSUNG, TOSHIBA, C&S Electric, Powell Industries, and LARSEN & TOUBRO.
According to the switchgear contractor and relay market report, one driver in the market is increasing global electricity generation. The global energy generation: as per the US EIA, is predicted to increase to 34 trillion kWh by 2040, a rise of approximately 45% in comparison to 2015, when the figures were 23.4 trillion kWh.
Electricity has been and will be the most widely and rapidly growing form of end-user energy consumption. Most of the significant developments in terms of generation of electricity are expected to stem from the developing non-OECD nations.
Improved living standards in these nations have escalated the demand for the use of several home appliances and electronic devices in residential houses as well as commercial spaces such as educational institutions, offices, malls, hospitals, and airports.
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Few Points from List of Exhibits:
Exhibit 1: Types of Switchgear Based On Insulation
Exhibit 2: Types of Switchgear Based On Voltage Level
Exhibit 3: Related Market
Exhibit 4: Global Switchgear Contactor and Relay Market
Exhibit 5: Market Characteristics
Exhibit 6: Market Segments
Exhibit 7: Market Definition Inclusions and Exclusions Checklist
Exhibit 8: Market Size 2017
Exhibit 9: Validation Techniques Employed For Market Sizing 2017
Exhibit 10: Global Market Size and Forecast 2017-2022 ($ Mn)
Exhibit 11: Global Year-Over-Year Growth 2018-2022 (%)
Exhibit 12: Five Forces Analysis 2017
Exhibit 13: Five Forces Analysis 2022
Exhibit 14: Bargaining Power of Buyers
Exhibit 15: Bargaining Power of Suppliers
Exhibit 16: Threat of New Entrants
Exhibit 17: Threat of Substitutes
Exhibit 18: Threat of Rivalry
Exhibit 19: Market Condition - Five Forces 2017
Exhibit 20: Insulation Types