Power Plants Lead Demand from Global LV and MV Switchgear Market; Global Market to Reach US$83.28 bn by 2020
©
According to a research report released by Transparency Market Research, the global LV and MV switchgear market is growing at a CAGR of 8.50% from 2014 to 2020. The market was valued at US$47.45 bn in 2013 and is expected to reach US$83.28 bn by 2020. The research report, titled “LV and MV Switchgear Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, covers all aspects of the market in order to derive an accurate forecast for it.
Browse the full LV and MV Switchgear Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/lv-mv-switchgear-industry.html
In terms of volume, the global LV and MV switchgear market is growing at a CAGR of 6.7% within the report’s forecast period from 2014 to 2020. At this growth rate, the global LV and MV switchgear market, which was at 2,668.6 thousand units in 2013, will reach 4,195.0 thousand units in 2020.According to the report, the key driving factor for the global LV and MV switchgear market is the growing demand for protection and safety in electrical distribution systems. By design, a switchgear is used to control, regulate, and protect power generation. A switchgear finds use in power transmission and distribution networks as well.
The global LV and MV switchgear market is also expected to receive large-scale attention due to the rapid urbanization and electrification of rural and urban areas in many developing nations. The report suggests that this rate of urbanization will be a strong driver for the global LV and MV switchgear market within the given forecast period.The global LV and MV switchgear market will also receive rising demand from developed economies that are looking to expand their urban and industrial infrastructure.
In terms of applications, the global LV and MV switchgear market is dominated by the power plants segment. The power plant segment held a share of 40.50% in LV switchgears and 40.39% in MV switchgears in 2013. The fastest growing application segment of the global LV and MV switchgear market for the given forecast period is utilities.In terms of voltages, the global LV and MV switchgear market is led by switchgears of less than 1kV in terms of both revenue and volume. This segment of voltage held 49.26% of the LV switchgears market and 65.80% of the MV switchgear market in 2013.
Geographically, the global LV and MV switchgear market is dominated by Asia Pacific in terms of both revenue and volume. In 2013, the region held 42.10% of the global LV switchgear market and 45.1% of the HV switchgear market. The growth of the market is primarily attributed to the heavy industrialization rates of countries in the Asia Pacific region.The report details key players in the global LV and MV switchgear market, including OJSC Power Machines, GE Co., Mitsubishi Electric Corp., Hyosung Corp., Eaton Corp., Crompton Greaves Ltd., and ABB Ltd.
Request A Sample Of This Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3937
Key segments of the Global LV and MV Switchgear Market
LV and MV switchgear market, by product standards:
LV and MV switchgears follow IEC (International Electrotechnical Commission) standards
LV and MV switchgears follow ANSI (American National Standards Institute) standards
LV and MV switchgears that follow other (JIS, NEMA and GOST) standards
LV and MV switchgear market, by Application:
Power plants
Oil & Gas Industry
Petrochemical industry
Pulp and paper industry
Utilities sector
LV and MV switchgear market, by Voltages:
Less than 1kV
1kV - 5kV
6kV - 15kV
16kV - 27kV
28kV - 38kV
LV and MV switchgear market, by Components:
Circuit Breaker
Relays
Others (Enclosure, Fuses, Bus Bars and Switches)
LV and MV switchgear market, by Insulation:
Air
Gas
Others (oil and solid)
LV and MV switchgear market, by geography:
North America
Europe
Asia Pacific
Rest of the World (Latin America, Middle East and Africa)
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Mr. Atil Chaudhari
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Browse the full LV and MV Switchgear Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/lv-mv-switchgear-industry.html
In terms of volume, the global LV and MV switchgear market is growing at a CAGR of 6.7% within the report’s forecast period from 2014 to 2020. At this growth rate, the global LV and MV switchgear market, which was at 2,668.6 thousand units in 2013, will reach 4,195.0 thousand units in 2020.According to the report, the key driving factor for the global LV and MV switchgear market is the growing demand for protection and safety in electrical distribution systems. By design, a switchgear is used to control, regulate, and protect power generation. A switchgear finds use in power transmission and distribution networks as well.
The global LV and MV switchgear market is also expected to receive large-scale attention due to the rapid urbanization and electrification of rural and urban areas in many developing nations. The report suggests that this rate of urbanization will be a strong driver for the global LV and MV switchgear market within the given forecast period.The global LV and MV switchgear market will also receive rising demand from developed economies that are looking to expand their urban and industrial infrastructure.
In terms of applications, the global LV and MV switchgear market is dominated by the power plants segment. The power plant segment held a share of 40.50% in LV switchgears and 40.39% in MV switchgears in 2013. The fastest growing application segment of the global LV and MV switchgear market for the given forecast period is utilities.In terms of voltages, the global LV and MV switchgear market is led by switchgears of less than 1kV in terms of both revenue and volume. This segment of voltage held 49.26% of the LV switchgears market and 65.80% of the MV switchgear market in 2013.
Geographically, the global LV and MV switchgear market is dominated by Asia Pacific in terms of both revenue and volume. In 2013, the region held 42.10% of the global LV switchgear market and 45.1% of the HV switchgear market. The growth of the market is primarily attributed to the heavy industrialization rates of countries in the Asia Pacific region.The report details key players in the global LV and MV switchgear market, including OJSC Power Machines, GE Co., Mitsubishi Electric Corp., Hyosung Corp., Eaton Corp., Crompton Greaves Ltd., and ABB Ltd.
Request A Sample Of This Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3937
Key segments of the Global LV and MV Switchgear Market
LV and MV switchgear market, by product standards:
LV and MV switchgears follow IEC (International Electrotechnical Commission) standards
LV and MV switchgears follow ANSI (American National Standards Institute) standards
LV and MV switchgears that follow other (JIS, NEMA and GOST) standards
LV and MV switchgear market, by Application:
Power plants
Oil & Gas Industry
Petrochemical industry
Pulp and paper industry
Utilities sector
LV and MV switchgear market, by Voltages:
Less than 1kV
1kV - 5kV
6kV - 15kV
16kV - 27kV
28kV - 38kV
LV and MV switchgear market, by Components:
Circuit Breaker
Relays
Others (Enclosure, Fuses, Bus Bars and Switches)
LV and MV switchgear market, by Insulation:
Air
Gas
Others (oil and solid)
LV and MV switchgear market, by geography:
North America
Europe
Asia Pacific
Rest of the World (Latin America, Middle East and Africa)
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Mr. Atil Chaudhari
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com