Switchgear Market to Cross $ 155 Billion by 2025
Strict environmental regulations along with increasing focus
towards conservation of energy to drive global switchgear market through 2025
According to
TechSci Research report, “Global Switchgear
Market By Insulation, By Installation, By Voltage, By Product, By End User,
By Region, Competition, Forecast & Opportunities, 2025”, the global switchgear market is projected to surpass $ 155
billion by 2025 on account of increasing demand for electricity, growing
implementation of smart grid technology, and rising investment in upgrading
transmission and distribution systems. The global
switchgear market is segmented based on insulation, installation, voltage,
product, end user, region and company. Based on insulation, the market can be
categorized into air insulated, gas insulated and others. The gas insulated
segment is likely to dominate the market owing to their feature of serving
different needs at varying voltage levels in various end user industries.
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Figures spread through 120 Pages and an
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Based on
installation, the market can be divided into indoor and outdoor, of which the
latter is projected to register the highest CAGR during the forecast period on
account of their use in transmission and sub-transmission sectors. Based on
voltage, the market can be fragmented into low, medium and high. The low
voltage segment is expected to hold the largest market share and dominate the
market during forecast period on account of high demand. Based on end user, the
market can be segmented into Transmission
& Distribution Utilities, Industrial, Commercial, Residential and Others. The
Transmission & Distribution Utilities segment is expected to continue its
dominance during the forecast period.
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Bharat Heavy
Electricals Ltd., Mitsubishi Electric Corporation, CG Power and Industrial
Solutions Limited, Siemens Aktiengesellschaft, General Electric Company, Eaton
Corporation plc, ABB Ltd., Alstom SA, Schneider Electric SE, and Havells India
Limited are some of the leading players operating in the global switchgear market.
“Asia-Pacific switchgear market is expected to be the largest market during the
forecast period. Countries such as China and India are undertaking a large
number of smart grid and substation projects to fulfil the growing demand for
energy. This factor would drive the switchgear market in the region over the
course of next five years.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Switchgear Market By Insulation, By
Installation, By Voltage, By Product, By End User, By Region, Competition,
Forecast & Opportunities, 2025” has evaluated
the future growth potential of global switchgear market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in global switchgear market.
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