DUBLIN, Mar 21 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "GCC Medium Voltage Switchgear Market (2017-2023)" report to their offering.
Growing construction activities, establishment of business hubs & industries and infrastructure development have resulted in the expansion of power infrastructure, which have amplified the demand for medium voltage switchgears across all GCC region. Global events like World Expo 2020 and FIFA World Cup 2022 would also fuel the switchgear business in the region. The growth of medium voltage switchgear market is primarily driven from massive investments in non-oil & gas sector by the GCC countries to diversify their economies.
According to research, GCC Medium Voltage switchgear market is projected to reach $1.39 Billion by 2023. Development of smart grids and establishment of nuclear and renewable energy power plants would spur the demand for medium voltage switchgear in the forecast period. Over the next six years, the commercial and infrastructure & transportation segments are forecast to showcase strong growth in the market.
Amongst all the applications, the power utilities accounts for major share in the overall GCC switchgear market. Commercial, infrastructure & transportation, industrial are the other key revenue contributing segments.
The report thoroughly covers the market by insulation, applications and by country. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers, which would help stakeholders to device and align market strategies according to the current and future market dynamics.
- ABB Ltd.
- Al Ahleia Switchgear Co.
- Al Hasan
- Eaton Corporation
- General Electric Company
- Hitachi Ltd.
- Hyosung Corporation
- Larsen & Toubro Limited
- Schneider Electric SE
- Siemens AG
- Toshiba Corporation
Scope of the Report:
- Air Insulated Switchgear
- Gas Insulated Switchgear
- Other Insulated Switchgear
- Oil & Gas
- Infrastructure & Transportation
- Power Utilities
- Saudi Arabia
For more information about this report visit http://www.researchandmarkets.com/research/vvzlz6/gcc_medium
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SOURCE Research and Markets