Harrisburg, NC -- (SBWIRE) -- 10/21/2020 -- The Global High Voltage Switchgear Market Research Report 2020-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The global High Voltage Switchgear market was valued at about $12.8 billion in 2018 and is expected to grow to $21.32 billion at a CAGR of 13.6% through 2022.
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Top Companies in the Global High Voltage Switchgear Market: ABB Ltd.,, General Electric, Company Crompton Greaves Limited, Fuji Electric, Hitachi, Hyosung Corporation, Mitsubishi Electric Corporation, Toshiba Electric Corporation, Siemens AG, Eaton Corporation and Other
Markets Covered: 1) By Insulation type: Gas Insulated; Oil Insulated ; Air Insulated 2) By Application: Transmission And Distribution Network; Manufacturing & Processing; Infrastructure & Transportation
The high voltage switchgear maket covered in this report is segmented by insulation type into gas insulated, oil insulated , air insulated. It is also segmented by application into transmission and distribution network, manufacturing & processing, infrastructure & transportation.
The demand for electricity generation is projected to drive the high voltage switchgear market. Availability of electricity has become essential for the economic development and poverty allevation. Development of industrialization, urbanization requires continuous electricity supply, and reliability of the electrical supply depends heavily on the performance of the switchgear. Therefore, is driving the demand of high voltage switchgears in the forecast period. For instance, in 2017, Japan allocated US $16.7 million to war-affected nation Iraq for reinstallation of transmission and distribution electricity networks to promote stabilization and rehabilitation for refugees.
Unstable prices of raw materials is restraining the high voltage switchgear market. Prices fluctuate due to availability of low quality materials at cheaper prices of high voltage switchgear. This arises the risk of breakdown of insulation layers or short circuit conditions and other failures. Thereby inconsistent pricing in raw materials of high voltage switchgear is expected to hinder the market growth. A survey was conducted by Manufacturers Outlook Survey, in 2019, within the switchgear manufacturing companies, across globe. According to the survey, 79.8% of respondents consider the cost of raw material as the top concern in manufacturing of swichgears.
Electronic and Telecommunication companies are increasing the implementation of mobile substations. Installation of mobile substations enables to restore electricity under outdoor conditions or in unforeseen circumstances and are functionally designed to provide temporary power supplies as quickly as possible. In addition, these mobile substations incorporates generator, transformer, metal clad switchgear, outdoor load break switches and breakers, which is used for network extensions, and temporary switching stations. For instance, in 1937, ABB Group, a Switzerland multinational corporation designed the mobile substation for the Italian railway network. Thereby, the use of mobile substations as per necessity energy generation is becoming latest trend in the market.
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-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
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-Analytical Tools: The Global High Voltage Switchgear Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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