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Switchgear Market to Rise at 6.84% CAGR from 2019-2026; High Demand for Medium Voltage Switchgears to Provide Impetus to Growth, says Fortune Business Insights

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Pune, June 09, 2020 (GLOBE NEWSWIRE) — The global switchgear market is likely to derive growth from the increasing product variations and availability in a wide range of voltages and power ratings. According to a report published by Fortune Business Insights, titled “Switchgear Market Size, Share & Industry Analysis, By Insulation (Gas, Air, Oil, Vacuum), By Voltage (Low, Medium, High), By End-User (T&D Utility, Industrial, Commercial & Residential), By Installation (Indoor, Outdoor) and Regional Forecast, 2019-2026,” the market was valued at USD 98.08 Billion in 2018 is projected to reach USD 168.17 Billion by 2026, exhibiting a CAGR of 6.84% during the forecast period.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.Please visit: h https://www.fortunebusinessinsights.com/industry-reports/switchgear-market-100815
Asia Pacific Currently Holds a Lion’s Share in Switchgears MarketThe advancing transmission and network in densely populated countries such as Japan, China, and India has fuelled the demand for switchgears across the Asia Pacific. The presence of several rural areas in India and the emphasis on providing power to these regions by the government of India will contribute to the demand for switchgears in the Asia Pacific. The use of switch gears has risen significantly, due to the improvements in product design and an increase in the overall efficiency. Additionally, the availability of switchgears at reduced costs will constitute an increase in the Asia Pacific switchgears market size in the forthcoming years. The switchgears market in Asia Pacific was valued at USD 44.30 Bn in 2018 and is likely to increase at an impressive CAGR during the forecast period.The report has classified the global switchgears market in terms of factors such as insulation, installation, voltage, end user, and regional demographics. Among the voltage types, the medium voltage switchgears are likely to witness the highest CAGR, owing to the high demand for the products across the globe. Medium voltage switch gears offer a wide range of voltages which can range from 3kV and 36 kV. This range holds a high potential for several applications and as a result, Fortune Business Insights labels out medium segmentation as the one to witness the highest growth rate during the forecast period. Medium voltages can support applications in industrial and building infrastructures. The growing industrialization and improving industrial infrastructure will fuel the demand for these products in the forthcoming years. The low and high voltage type of switchgears will witness comparatively lesser growth due to a narrow application range.ABBSchneider ElectricHitachiKirloskar Electric Co. Ltd.Hubbell IncorporatedMitsubishi ElectricSiemens EnergyToshiba International CorporationCG Power and Industrial Solutions LimitedFuji Electric Co., LTD.PowellL&T Electrical & AutomationHYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.Hyosung CorporationLucy ElectricE+I EngineeringIntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Emerging Trends – For Major CountriesLatest Technological AdvancementRegulatory LandscapeIndustry SWOT AnalysisPorters Five Forces AnalysisValue Chain AnalysisGlobal Switchgear Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights, and Forecast – By Insulation (USD Billion)GasAirOilVacuumMarket Analysis, Insights, and Forecast – By Installation (USD Billion)IndoorOutdoorMarket Analysis, Insights and Forecast – By Voltage (USD Billion)LowMediumHighMarket Analysis, Insights and Forecast – By End-User (USD Billion)T&D Utility Industrial Commercial & ResidentialMarket Analysis, Insights and Forecast – By Region (USD Billion)North AmericaEuropeAsia PacificMiddle East and AfricaLatin AmericaTOC Continued…!!!
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About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Contact Us:
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