DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "High Voltage Switchgear Market, Update 2017 - Market Size, Competitive Landscape, Key Country Analysis, and Forecasts to 2021" report to their offering.
The global high voltage (HV) switchgear market witnessed a market value of US$11.6 Billion in 2016 and is estimated to reach US$15.86 Billion in 2021, registering a compound annual growth rate (CAGR) of 6.4% between 2016 and 2021. In growing economies such as those of Asia-Pacific and the Middle East, the rise in electricity demand is driving the HV switchgear market, with new capacity addition in the generation and transmission sector.
China, one of the fastest growing economies with a largest fleet of transmission substations, topped the global HV switchgear market in 2016 with a value of US$2.69 Billion and is expected to reach US$3.3 Billion in 2021. It represented over 23.0% of global HV switchgear market in 2016. China is the world leader in ultra-high voltage (UHV) transmission having made huge investments to develop transmission system of voltage level 765kV and above. The country has higher potential for GIS in the Asia-Pacific region. Both 72-172kV and above 172kV segment have almost equal contribution in the country. By 2021, the share of China is expected to be 21.0% of the global market value.
India ranks second, next to China in global HV switchgear market with a market value of US$976.2m in 2016, contributing 8.4% to global market. The power grid of India is in development stage, and investments have been made to strengthen the regional grids and to develop transmission capacity between interconnections. During the forecast period, share of GIS is expected to be higher than that of AIS, especially in voltage segments 400kV and above. The GIS market is driven by utility substation demand, requiring HV switchgear with a smaller footprint to overcome space constraints. By 2021, the HV switchgear market of India is expected to reach US$1,828m by 2021, contributing close to 11.5% of the global market.
Key Topics Covered:
1. Table of Contents
2. Executive Summary
4. HV Switchgear, Global
5. HV Switchgear, Americas
6. HV Switchgear, US
7. HV Switchgear, Canada
8. HV Switchgear, Brazil
9. HV Switchgear, Asia-Pacific
10. HV Switchgear, China
11. HV Switchgear, India
12. HV Switchgear, Japan
13. HV Switchgear, Republic of Korea
14. HV Switchgear, Australia
15. HV Switchgear, Europe, Middle East, and Africa (EMEA)
16. HV Switchgear, Germany
17. HV Switchgear, United Kingdom (UK)
18. HV Switchgear, Russia
19. HV Switchgear, Saudi Arabia
For more information about this report visit https://www.researchandmarkets.com/research/wlnblw/high_voltage