The global switchgear market is projected to reach $116.7 billion by 2025, at a CAGR of 4% during 2020-2025. The growth of switchgear market is driven by increasing demand for electricity, growing implementation of smart grid technology, and continuing investment in upgrading transmission and distribution systems.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the switchgear market by voltage
(high voltage, medium voltage, and low voltage), product (other low voltage
switchgear, metal enclosed & metal clad, MCCB, fuse, power circuit breaker,
and other medium & high voltage switchgear), end use (utilities,
industrial, commercial and residential), and region (North America, Europe,
Asia Pacific, and the Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the switchgear market?
Q.4 What are some
changing demands of customers in the switchgear market?
Q.5 What are the new
developments in the switchgear market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this switchgear area and how big of a
threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this switchgear market?
Emerging trends, which
have a direct impact on the dynamics of the industry, include the development
of digital switchgear and growing focus on eco-efficient switchgear.
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Market Segmentation:
Based on voltage type,
the switchgear market is segmented into high voltage, medium voltage, and low
voltage. The low voltage segment is accounted for the largest share of the
market in 2020 and is expected to register the highest CAGR during the forecast
period due to increasing construction activities and renewable energy
installations.
Asia Pacific is expected
to be the largest region over the forecast period and witness the highest growth
over the forecast period due to the increasing electricity demand due to growing
population, economic expansion, urbanization, industrialization, and rural
electrification projects, particularly in India and China, are leading the
demand for switchgear.
Key Players in the Switchgear
market are ABB, General Electric, Schneider Electric, Mitsubishi, Siemens AG,
Eaton, Hitachi, and CG Power and Industrial Solutions.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
To read more about this market please click on
https://www.lucintel.com/switchgear-market.aspx
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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