Global High Voltage Switchgear Market is Projected to grow at 6.4% CAGR during the period 2017-2021. High Voltage Switchgear Industry research report also provides granular analysis of the market share, Size, segmentation, revenue forecasts and geographic regions of the market.
Global high voltage (HV) switchgear market witnessed a market value of $11.6 billion in 2016 and is estimated to reach $15.86 billion in 2021, registering a CAGR of 6.4% between 2016 and 2021. In growing economies such as those of Asia-Pacific and the Middle East, the rise in electricity demand is driving the High Voltage Switchgear Market, with new capacity addition in the generation and transmission sector.
China, one of the fastest growing economies with a largest fleet of transmission substations, topped the global HV switchgear market in 2016 with a value of $2.69 billion and is expected to reach $3.3 billion in 2021. It represented over 23.0% of global HV switchgear market in 2016.
India ranks second, next to China in global HV switchgear market with a market value of $976.2m in 2016, contributing 8.4% to global market. The US emerged as the third-largest market for global HV switchgear in 2016, with a market value of $748.7m in 2016, which represented 6.4% of the global market.
The other key countries in the GIS market include Japan and South Korea next to China and India in Asia-Pacific region. The UK, Germany, and Russia are the three key countries in Europe, with Russia emerging as the biggest market in 2016 with a market value of $554.2m.
The report analyses High Voltage Switchgear market. Its scope includes -
- Analysis of the growth of high voltage switchgear market with a focus on market value and volume, classified by voltage and type in global and regional level including Asia-Pacific, Americas, Europe, and Middle East and Africa.
- The report provides high voltage switchgear market analysis for key countries including the US, Canada, Brazil, China, India, Japan, Republic of Korea, Australia, Germany, the UK, Russia, and Saudi Arabia.
- The report offers country level high voltage switchgear market value and volume for the historical (2011-2016) and forecast (2017-2021) periods, classified based on voltage and type.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on high voltage switchgear market are discussed.
- Report provides competitive landscape at country level for the year 2016. It also covers policies and initiatives, and case studies.
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