TechNavio recognizes the following companies as the key players in the Global Switch Gear Market: ABB Ltd., Alstom S.A., and Siemens AG
Commenting on the report, an analyst from TechNavio’s team said: “The steady shift from conventional switchgears to modular switchgear is one of the major trends in the Global Switchgear market. The conventional air-insulated switchgear has various components such as circuit breakers, current transformers, and disconnectors. These components need more installation space thereby increasing the cost of installation. However, the modular switchgear overcomes these issues by integrating these functions into the breaking chamber of the circuit breaker, which results in easy installation and optimization of the overall operational cost.”
According to the report, one of the main factors is the increasing demand for renewable sources of energy. Several developed and developing countries such as India, the US, Germany, Japan, Brazil, Taiwan, and China are experiencing a rapid industrialization phase and are making investments in renewable sources of energy, which is driving the demand for switchgears across the globe.
Further, the report states that one of the main challenges in this market is the rising cost of raw materials. The price of switchgears is increasing due to the high cost of raw materials such as copper, aluminum and steel.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-switch-gear-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report -Global Switch Gear Market 2014-2018
