DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Switchgear Market - Global Trends & Forecast to 2021" report to their offering.
The global switchgear market is projected to reach USD 144.41 Billion by 2021, at a CAGR of 10.07% from 2016 to 2021. This growth can be attributed to the rise in power generation and increasing upgrade of electrical infrastructure, influenced by rising energy demand.
Asia-Pacific holds the major market share, followed by North America & Europe. In terms of individual countries, China dominated the market on account of extensive electrical infrastructure upgradation and new transmission & distribution lines being installed. The country alone held the maximum market share, followed by the U.S. and India.
Rapid economic growth in the BRICS member states is expected to be the major driving factor for the growth of the switchgear market in these nations. Switch-gears are expected to be used extensively in the new electrical transmission & distribution networks, which are expected to ensure minimum losses and uninterrupted power supply.
Stringent environmental regulations against the usage of SF6 switchgears, price volatility of raw materials, and intense competition from local players are restraining the growth of the switchgear market. Rising competition in emerging markets and prevailing local laws in countries such as China, India, and Brazil have led companies to adopt strategies such as partnerships, agreements, and collaborations to increase their market share.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Switchgear Market, By End-User
8 Switchgear Market, By Voltage
9 Switchgear Market, By Region
10 Competitive Landscape
11 Company Profiles
- ABB Ltd.
- Bharat Heavy Electricals Limited
- Crompton Greaves Limited
- Eaton Corporation PLC
- General Electric
- Hitachi Limited
- Hyosung Corporation
- Hyundai Heavy Industries Co. Ltd.
- Mitsubhishi Electric Corporation
- NR Electric Co., Ltd.
- Powell Industries
- Schneider Electric SA
- Siemens AG
- TE Connectivity Ltd.
For more information visit http://www.researchandmarkets.com/research/5qq59g/switchgear_market