Selbyville, Delaware, Nov. 26, 2019 (GLOBE NEWSWIRE) --
The North America MV Switchgear Market is anticipated to surpass USD 9 Billion by 2025, as reported in the latest study by Global Market Insights, Inc. Increasing consumer shift toward the integration of energy efficient transmission network is positively influencing the installation for these units.
The switchgear industry has gained significance owing to the rising concerns associated with fire, health, electrical supply faults and other operational hazards. Rapid advancements across the aging infrastructure subject to the integration of efficient electric grid network and increasing cross border electricity trade will stimulate the business growth. In addition, enhancing product portfolios along with the leading industry players undertaking M&A’s as a key strategic move will further stimulate the industry outlook.
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In the current industrial regime, switchgears owing to their diverse applications and varied voltage levels across power stations & transformer substations have gained significance which in turn have fostered the industry dynamics. In addition, growing electricity demand in line with strict regulatory initiatives to form a highly energy efficient environment has incorporated a favorable business scenario. Rising focus on conserving & ensuring uninterrupted energy supply, power stations have shifted their focus towards smart & advanced technologies which will further augment the business outlook.
Some major findings of the North America MV switchgear market report include:
- The demand for MV switchgear is rising across the transmission & distribution network owing to their features such as ease of installation, low cost and safe & secure operations.
- Increasing investments towards the refurbishment of existing electrical network across residential & industrial peripherals is anticipated to drive the business growth.
- Major players operating across the North America MV switchgear market are ABB, Schneider, Siemens, Eaton, Crompton Greaves etc.
Browse key industry insights spread across 329 pages with 504 market data tables & 38 figures & charts from the report, “North America MV Switchgear Market Share By Voltage (3 kV to 9 kV, > 9 kV to 15 kV, > 15 kV to 21 kV, > 21 kV to 27 kV, > 27 kV to 33 kV, > 33 kV), By Rated Current (< 500 A, 500 to 1500 A, 1500 to 2500 A, 2500 to 3500 A, > 3500 A) By Component (Circuit Breakers, Contactors, Switches & Disconnector, Fuses, Others), By Installation (Indoor, Outdoor), By Insulation (Air, Gas, Oil, Vacuum, Others), By Enclosure (Metal {Indoor, Outdoor}, Non Metal {Outdoor}), By End-Use (Power Stations, Transformer Substations, Local Electricity Supply, Others), By Application (Residential, Commercial {Healthcare, Hospitality, Offices, Retail, Education, Others}, Industrial {Power, Oil & Gas, Railways, Arc furnace, Manufacturing & Processing Industries, Others}, Utility), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/north-america-mv-switchgear-market
Favorable reforms coupled with increasing demand for the refurbishment of existing electrical networks across the nation has instituted a positive business scenario across the switchgear industry. Large scale plans for renewable network integration along with advancing distributed generation technologies further augment the industry growth. In addition, stringent regulations conforming to the energy efficiency mandates have led manufacturers and installers to adopt effective network control technologies across the distribution networks.
Low current switchgears up to 2,500 A have witnessed significant growth on account of rapid expansion of residential and commercial areas along with increase in demand for safe and reliable electricity across the globe. These units have gained deployment owing to the wide range applications, secure electricity supply and increasing fund allocation. Low current units in comparison to high current switchgears incur low cost of replacement and decrease the chances of fire, short circuits or other health hazards.
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Browse Related Reports:
Medium Voltage Switchgear Market Trends 2025: Metal enclosed MV switchgear industry is projected to exceed an annual deployment of 5 million units by 2025. Reliable & safe operations, unique design & construction, suitable interlocking arrangement within various components and easy replacement are the few indispensable features amplifying the product demand. Prominent market players include Siemens, ABB, GE, Mitsubishi, Ormazabal, Schneider, BHEL, Chint Group, Crompton Greaves, Hyosung, Eaton, Lucy electric, Hyundai Heavy Industries, Toshiba and Powell.
https://www.gminsights.com/industry-analysis/medium-voltage-switchgear-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.