The switchgear market is expected to grow from an estimated USD 88.71 Billion in 2017 to USD 125.10 Billion by 2022, at a CAGR of 7.12%, from 2017 to 2022. The global market is set to witness a significant growth due to the continued growth of construction and developmental activities, increasing access to electricity, and growth of renewable power generation projects.

The transmission and distribution utilities sub-segment of the end-user segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. The transmission and distribution utilities segment is also expected to grow at the fastest rate during the forecast period.

The growth of the transmission and distribution utilities segment is primarily driven by increasing investments in sub-station automation, modernization of electric grid, and smart utilities which includes smart grids and smart meters. This would enhance the protection by decreasing energy losses, due to poor operational efficiency of traditional equipment. This would ultimately create new revenue pockets for the switchgear market during the forecast period.

The gas insulated switchgear sub-segment of the equipment segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. Rising energy demand and extension/replacement of old switchgear at sub-stations can drive the gas insulated switchgear equipment in the switchgear market. However, the circuit breaker sub-segment accounted for the second largest share in 2016 in the switchgear market, based on the equipment segment.

Market Ecosystem:
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the switchgear market. The key players include ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), EATON CORPORATION plc (Ireland), Hitachi Ltd. (Japan), Schneider Electric SE (France), and Mitsubishi Electric Corporation (Japan) among others. The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1162268

Objectives of the study:
• To define, describe, and forecast the global switchgear market by voltage, equipment, end-user and region
• To provide detailed information on major factors influencing the growth of the switchgear market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the switchgear market with respect to individual growth trends, future prospects, and contribution of each segment to the market
• To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
• To strategically profile key players and comprehensively analyze their market rankings and core competencies
• To track and analyze competitive developments, such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the switchgear market

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]