London, 05 June 2015 – Technavio, a tech-focused research firm, has published a new report on the global switchgear market, which is expected to grow at a CAGR of almost 11% from 2015-2019.
The latest report by Technavio draws attention towards the cumulative demand from replacement technology, which has become a major driver for market growth. Several electric utilities and non-utility generators are replacing old equipment like T&D transformers, switchgears, circuit breakers and pole and line hardware, with technically advanced T&D equipment.
“The effective deployment of the latest T&D equipment enables electricity providers to improve their operational productivity,” says Faisal Ghaus, Vice President of Technavio.
“The modernization of an existing plants not only increases the lifecycle of the plant, but also helps reduce overall maintenance, repair and overhaul expenses.”
Furthermore, the new Technavio report emphasizes the steady shift from conventional switchgear to innovative modular switchgear.
“Conventional air-insulated switchgear includes various components like circuit breakers, current transformers and disconnectors, which require individual installation spaces, thus making the installation of these components very complex,” says Ghaus.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
