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Electrification Initiatives and Modernization of Critical Infrastructure Drive Adoption of Switchgear
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The global medium voltage (1-38kV) and high voltage (greater than 38kV) switchgear market is a mature one with steady growth across the globe driven by factors such as replacement of aged infrastructure, rising power demand, and growing renewable and industrial establishments. The study aims to analyze and forecast the global switchgear market. Research scope highlights the key market drivers (rise in power demand, O&G exploration, growing distributed energy resources, and aged grid infrastructure) and restraints (lack of funds and willingness to modernize the grid infrastructure) for the global medium and high voltage switchgear market. Regional trends (Europe, North America, Asia-Pacific, and Rest of World) are also discussed. The study discusses adoption of air-insulated and gas-insulated switchgear during the forecast period. It also features the market share of the leading competitors, which include ABB, Siemens, and Schneider Electric, among others. Market measurements are analyzed based on the data collected from Frost & Sullivan’s in-house database and other secondary sources. Further, this information was collected from discussions with industry participants, including original equipment manufacturers (OEMs), service providers, government organizations, and industry associations. The measured impact of various drivers and restraints in the market during the forecast period was also taken into consideration when calculating forecasts. Revenue and forecasts include switchgear sold in one particular region only. Systems manufactured in one region but later exported to other regions are not considered for the revenue calculation of that particular region. Strategies, growth analysis, competitive landscape, and future focus are discussed for global switchgear market vendors pertaining to 2016. The base year of the study is 2016 with forecast period from 2017 to 2020.Key Questions this Study will Answer• Is the switchgear market growing, how long will it continue to grow, and at what rate? • Which regions globally have the highest revenue and which regions have the highest growth potential?• Which are the regions across the globe that is expected to grow strongly during the forecast period?• Which switch gear technologies (air insulated and gas insulated) will grow faster across the globe and why?• Which voltage ratings have higher growth?
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