Global Switchgear Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Switchgear Market Report by The Business Research Company covers switchgear market drivers and restraints, switchgear market size, major players, and the impact of COVID-19 on the switchgear market.
The switchgear market consists of sales of switchgears and related services that are used in various applications such as in transmission and distribution utility, residential, commercial and industrial. A switchgear refers to collection of the switching devices that are used for controlling, protecting, and switching the electrical circuits and equipment.
The demand for electricity generation is projected to drive the switchgear market. The availability of electricity has become essential for economic development and poverty alleviation.
The global switchgear market is expected to grow from $87.86 billion in 2020 to $94.25 billion in 2021 at a compound annual growth rate (CAGR) of 7.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $124.33 billion in 2025 at a CAGR of 7%.
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Some switchgear market trends rising demand for installation of electric substations to restore normal power supply as fast as possible in case of emergencies. The installation of mobile substations enables the restoration of electricity under outdoor conditions or in unforeseen circumstances and is functionally designed to provide temporary power supplies as soon as possible. Also, these mobile substations incorporate generator, transformer, metal-clad switchgear, outdoor load break switches and breakers, which are used for network extensions, and temporary switching stations.
Global switchgear market segments include:
1) By Product Type: High Voltage, Medium Voltage, Low Voltage.
2) By End-User: Residential, Commercial, Industrial.
3) By Insulation: Gas Insulated Switchgear (GIS), Air Insulated Switchgear (AIS), Others.
4) By Installation: Indoor, Outdoor.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Switchgear Global Market Report 2021: COVID 19 Impact and Recovery to 2030 At:
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The Switchgear Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides switchgear market overviews, analyzes and forecasts market size, share, switchgear market players, switchgear market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The switchgear market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Switchgear Global Market Report 2021: COVID 19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Schneider Electric, Siemens AG, ABB, General Electric, Eaton Corporation, Hyosung, CG Power, Mitsubishi, Alstom SA, Bharat Heavy Electricals Ltd., Hyundai, Hitachi, Toshiba, Powell, Larsen & Toubro, Hubbell, Lucy Electric, Fuji Electric, Bharat Heavy Electricals Ltd., Havells India Limited, Elektrobudowa, SEL, Xian XD Switch Gear Electric Co. Ltd., OJSC Power Machines, Crompton Greaves Ltd., Kirloskar Electric Co.Ltd., CG Power and Industrial solutions Limited, E+I Engineering.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Switchgear Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Switchgear Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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