Over the past decades, the electrical industry has experienced robust business growth from the developing economies, which has ultimately led to upsurging adoption of electrical switchgear in numerous industry verticals including Oil and Gas, Chemical Industry, Electricity, Metallurgy, Mechanical, Food, and Pharmaceuticals. Electric switchgear is an integrated switching system with numerous components such as fuses or circuit breakers used to control, protect and isolate electrical equipment. It can be used in both energizing and de-energizing the electrical equipment. Aging electrical infrastructure from the developed economies will generate lucrative demand over the forecasted period. However, stringent government regulations on manufacturing sulfur hexafluoride (SF6) switchgear and concerns of E-waste might stagnate the demand for Electrical Switchgear.
The research analyst at AMA estimates Electrical Switchgear market to grow at a compounded annual growth rate of 6.84%
- Upsurging Adoption of Electrical Switchgears in Transmission and Distribution (T&D) Utilities
- Upsurging Electrical Infrastructure from the Developing Economies
- Increasing Need for Safe and Cost Saving Electric Switchgears
- Introduction to Electric Switchgears with Negliblle Operational Tolerance
- Growing Environmental Concerns such as E-Waste
- Increasing Prevalence of Local Manufacture Dominance Leading to Escalating Competitive Rivalry
Aging Electrical Infrastructure from the Developed Economies will Generate Lucrative Demand and Continues Technological Advancements in Electrical Component Manufacturing
Manufacturers Covered in the Study are:
Ingeteam Corporación, S.A. (France), Lucy Group Ltd (United Kingdom), GE Industrial Solutions (United States), C&S Electric Ltd (India), Schneider Electric SA (France), Eaton Corp. (Ireland), Ideal Electric Company (United States), Pacific Controls (United Arab Emirates), Safety Electrical Group (United Arab Emirates) and N C E Switchgear Ltd (United Kingdom)
The Global Electrical Switchgear market is gaining huge competition due to involvement of European and Asian companies that constantly invest in research & development to meet market expectation with new innovation.
List of players that can be included in the study on immediate basis are Voyten Electric & Electronics Inc (United States), Xian XD Switch Gear Electric Co. Ltd. (China), Siemens AG (Germany), OJSC Power Machines (Russia), Mitsubishi Electric Corp. (Japan) and Crompton Greaves Ltd. (India).