London, 28 November 2014 – Increased construction of power grids has contributed to the growth of the Switchgear Market in China, leading to a CAGR of 10.69 percent from 2015-2019, says research firm TechNavio.
Increased investment in the power sector by the Chinese government has led to construction of more power grids. As switchgear is used in power grids for transferring current from the generation plant to the interconnected network and then to the consumers, this has become one of the major factors driving the Chinese market.
About the Report
The latest report by TechNavio highlights the availability of high-voltage switchgear for direct current transmission. Increased demand for high-voltage switchgear and the need for HVDC transmission over long distances has led to the development of 320 kV switchgear, which uses less than 95 percent space as compared to an air-insulated unit.
“Vendors like Siemens have developed 320 kV switchgears that are used for HVDC transmission,” says Faisal Ghaus, Vice President of TechNavio.
“Local and regional vendors are also focusing on developing high-voltage switchgears for direct current transmission in China.”
Additionally, the market is also concentrating on fully renovating and reinstating the old medium-voltage switchgears to the level of new switchgears. Integration of advanced sensors, protection and control gear into an old switchgear improves its operational efficiency, reliability and safety.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2019
Market Growth Drivers:
- Increased Construction of Power Grids
- For a full detailed list, view our report.
Market Challenges:
- Availability of Low-quality Switchgears
- For a full detailed list, view our report.
Market Trends:
- Availability of High-voltage Switchgears for Direct Current Transmission
- For a full detailed list, view our report.
Key Vendors:
- ABB Ltd.
- Alstom SA
- Siemens AG
Other Prominent Vendors:
- ABB
- Alstom
- Schneider Electric
- Siemens
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
