Key players are ABB Ltd. (Switzerland), Eaton Corporation (Ireland), Mitsubishi Electric Corporation (Japan), GE (U.S.), Siemens AG (Germany).
(PRWEB) February 14, 2015
This MarketsandMarkets report suggests that the Switchgear Market is expected to grow at a healthy CAGR during next few years. It analyzes various segments of the market and provides regional revenue forecasts for the key players. Switchgear is an integral part of the electric power system. According to the report, the power sector offers a promising future for the industry. This growth is attributed to the growing demands for electricity following increasing urbanization in the developing nations. Switchgear forms a crucial part in this sector and various other segments including power generation, transmission and distribution.
Explore Switchgear Market through data tables 74 , figures 57 and in-depth TOC spread across over 151 report pages.
Early buyers will receive 10% customization on this report.
This report provides information about the top market players from the Switchgear market environment. Switchgear reduces the risk of losing costly instruments and equipment due to current and voltage fluctuations in the power network systems. According to the report, the Global Switchgear market is poised to grow at a CAGR of 12.83% from 2014 to $136.71 Billion by 2019.
According to the report, the Asia-Pacific region is poised to hold the largest share in the switchgear market. This growth in the region is largely driven by the number of transmission and distribution line upgrade programs and strong advancement of the South East Asia. These advancements are due to the growing demand for energy in South East Asia.
Switchgear is mostly used in transmission & distribution by power utility companies. They are used for switching the equipment or the circuit during the event of fault. According to the report, global switchgear market is witnessing rising demand with the growing transmission and distribution networks across globe. The Switchgear industry is fragmented and offers several opportunities for consolidation and growth in efficiency through increased economies of scale. The industry has low entry and exit barriers.
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