DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/2znc7c/lv_and_mv) has announced the addition of the "LV and MV Switchgear Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" report to their offering.
The global LV and MV switchgear market has been segmented into four broad regions: North America, Europe, Asia Pacific and RoW. Asia Pacific accounted for the largest market share in 2013, which is expected to see heavy investments during the forecast period from 2014 to 2020.
Increasing electrification in rural and urban areas in countries from Asia Pacific has fuelled the growing demand for LV and MV switchgear market in that region. Moreover, increasing increase in installed capacity of transmission and distribution network in the power sector of India, China and other countries from Asia Pacific has also triggered the growth of LV and MV switchgear market. In Asia Pacific, increase in investment in electric transmission and distribution for commercial and residential real estate sector will also positively impact the growth of LV and MV switchgear market during the forecast period.
The global LV and MV switchgear market has been segmented by voltages ranges: less than 1kV to 38kV. Low voltage switchgears contributed largest share of total switchgear market in 2013. Wide applications of switchgears in the voltage range less than 1kV in both residential and commercial electrification projects, power plants and other industrial sector is the key factor behind the largest market share of LV switchgear. In terms of application, power plants are the largest contributor in LV and MV switchgear market. Demand for safety products related to electric transmission and distribution and modernization of electricity network in power plants are driving the application of LV and MV switchgear in power sector. Considering positive impact of growth drivers, power plants is anticipated to remain the top application sector for LV and MV switchgears during the forecast period.
Some of the leading players in the market are ABB Ltd. (Switzerland), Powell Industries Inc (U.S.), Siemens AG (Germany), Schneider Electric SE (France), Bharat Heavy Electricals Ltd. (India), Crompton Greaves Ltd. (India), Eaton Corp. (Ireland), Hyosung Corp.(South Korea), Mitsubishi Electric Corp.(Japan), GE Co. (U.S.) and OJSC Power Machines (Russia) among others.
For more information visit http://www.researchandmarkets.com/research/2znc7c/lv_and_mv