Global High Voltage Switchgear Market - Analysis by Application and Components - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 126 | Published By - Mordor Intelligence

Report Highlights

Global high voltage switchgear market is estimated to increase from USD XX billion in 2016 to USD XX billion by 2022, at a CAGR of XX%.

The growth in the global high voltage switchgear market is underpinned by the presence of favourable power industry reforms aimed at the renovation and expansion of the transmission and distribution sector. Rapid industrialization and urbanization have also spurred the need for new and more effective reforms and the demand for more advanced technologies. Moreover, the rising adoption of smart grid technology has had an impressive impact on the switchgear market. In addition to this, the increase in expenditure on renewable sources of energy has also contributed to the growth of the high voltage switchgear market. Furthermore, the proposal for long distance, high-voltage direct current (HVDC) transmission is expected to boost the market for switchgear in the coming years.

On the flipside, though, volatile nature of raw material prices, issues pertaining to counter terrorism and cyber security, and the growing grey market that offers low-quality products at cheap prices, threaten to inhibit the development of the switchgear market.

High-voltage switchgear is used in power utilities and is installed in high-voltage substations. It is further classified as air-insulated switchgear and gas-insulated switchgear. Asia-Pacific dominates the high voltage switchgear market, surpassing North America, Europe, and the Rest of the World in terms of demand. China has emerged as the leader in the market, with a growing demand for high voltage switchgears. This market is fuelled by the rising investment in alternative energy sources. More focus on renewable power generation in countries of Europe and North America is expected to give rise to new opportunities in the high voltage switchgears market.

The report comprehensively analyzes the high voltage switchgear market by segmenting it based on the type and geography. Key drivers and restraints that are affecting the growth of this market are also discussed in detail. The study also elucidates on the competitive landscape and key market players.

What the Report Offers

Market analysis for the global high voltage switchgear market, with region specific assessments and competition analysis on a global and regional scale.
Market overview and identification of key drivers and restraints that influence the studied market.
Identification of macro and micro factors instrumental in changing the market scenario and rising prospective opportunities globally and regionally.
Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.
Demand forecast for every segment of the studied market for the projected period.
Extensively researched competitive landscape section with profiles of major companies and their market share.
Analysis of the current strategic interests and financial information of the major companies, along with the strategies adopted by them to sustain and grow in the studied market.

 

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