Switchgears Market in North America to Reach $6.38 billion by 2015, According to New Report by Global Industry Analysts
Wednesday, Feb 24, 2010
A switchgear is a combination of devices designed to control, regulate, meter and protect electric generation, transmission, and distribution equipment, and electric motor control systems. Typically, a switchgear includes switching/ interrupting devices, such as, fuses and/or circuit breakers. They also help protect electrical equipment including motors, distribution networks and transformers from faulty current flows produced through inductors and capacitors. Fuse gear and low voltage switchgear components are used for control, protection and switching in several applications including power and industrial or commercial buildings. Revenues in the switchgears market are closely tied with the demand for transformers, therefore, any increase in demand for transformers will lead to rise in demand for switchgears and vice versa. The market for switchgears will continue to evolve globally, led mainly by escalating demand for renewable sources of energy, growth in construction and industrial sectors especially in developing countries, and government efforts to upgrade, and modernize electricity transmission and distribution systems.Although environmental regulations offer scope for expansion, volatile oil prices, rising raw material prices, and restricted flow of investments in the electricity sector act as immediate stumbling blocks in the North American switchgears market. Against a backdrop of tough economic climate, corporate success will critically hinge upon the ability to research and develop new innovative products at competitive prices, and validate new applications for existing products to distinguish products from that of competitors. Several technological developments such as arc-resistant technology and magnetic actuation have been undertaken by various original equipment manufacturers (OEMs) focusing on enhancing the reliability and efficiency of switchgear equipment. Growth in switchgears will also be sustained by government directives to replace older redundant systems to achieve operational safety, and security in industrial establishments.
Key players dominating the Switchgears marketplace include ABB Ltd, AREVA T&D, Eaton Corporation, Cutler-Hammer UK Ltd, General Electric Company, Mitsubishi Electric Corporation, Powell Industries Inc, Siemens AG, Schneider Electric SA, Square D Company, and S&C Electric Company, among others.
The report titled "Switchgears: A North American Market Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of industry overview, key regional markets, product overview, product introductions/innovations, profiles of major players, and recent industry activity. The report analyzes market data and provides analytics in value for geographic markets, which include United States & Canada. The study also analyzes the Switchgears market by the following product segments: Low Voltage Switchgear MCCB, Panel Boards, Others), Medium Voltage Switchgear (Outdoor Circuit Breaker, Indoor Circuit Breaker, Others), High Voltage Switchgear (Disconnectors, Breakers). The study also analyzes the Switchgears market by the End-Use Markets, such as, Commercial, Utility, Institutional and Industrial. Analytics for Switchgears market is also provided by Technology: Medium Voltage Switchgear (SF6, Vacuum Technology), High Voltage Switchgear (GIS/Mixed-Gas, Vacuum/Compact/AIS Technology).
For more details about this comprehensive market research report, please visit - http://www.strategyr.com/Switchgears_Market_Report.asp
Source: PRWeb
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