DUBLIN, Jan. 22, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/qvl4lq/switchgear_market) has announced the addition of the "Switchgear Market by Type and by Application - Global Trends and Forecasts to 2019" report to their offering.
Switchgear is used by utilities companies and industries to protect expensive instruments and equipment in power network systems. Switchgear performs the function of carrying, making and breaking the normal load current like a switch and performs fault correction under abnormal operational conditions.
The Global Switchgear market will grow from an estimated $74.77 billion in 2014 to $136.71 billion by 2019 with a CAGR of 12.83% from 2014 to 2019.
The global Switchgear market is projected to exhibit high growth on account of rising power generation and increased up gradation on electrical infrastructure, influenced by rising energy demand. The market was valued at $74.77 million globally for 2014. It is projected to grow at a CAGR of 12.83% through to 2019, owing to extensive modernization activities being carried out globally.
Asia-Pacific holds major market share followed by North America & Europe. In terms of individual countries, the market is dominated by China on account of extensive electrical infrastructure up gradation and new transmission and distribution lines being installed. China alone holds more than 15% of the global Switchgear market. Rapid growth in the BRIC nations' economies is expected to be the major driving factor for development in these nations. Switchgears are expected to be used extensively in the new electrical transmission and distribution networks which are expected to ensure minimum losses and uninterrupted power supply.
Utilities hold major market share as Switchgear is used extensively by utilities companies. North America and Europe currently have market for grid modernization and replacement of old installations. Along with the capacity enhancement trending world-wide, the investments in the offshore wind farms are expected to drive the market.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Premium Insights
5. Market Overview
7.Global SG Market by Type
8.Global SG Market by Application
9.Global SG Market, By Geography
10. Competitive Landscape
11. Company Profiles
- ABB Ltd
- Bharat Heavy Electricals Limited
- Eaton Corporation
- General Electric Co.
- Hitachi Ltd.
- Mitsubishi Electric Corp.
- Nr Electric Co. Ltd
- Schneider Electric SA
- Siemens AA
For more information visit http://www.researchandmarkets.com/research/qvl4lq/switchgear_market
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SOURCE Research and Markets