TechNavio recognizes the following companies as the key players in the Global High Voltage Switchgear for AC Transmission System Market: ABB Ltd., Siemens AG, and Alstom SA.
Commenting on the report, an analyst from TechNavio’s Engineering team said: “The steady shift from conventional high-voltage switchgear to innovative high-voltage switchgear is one of the major trends in the Global High-voltage Switchgear market for AC Transmission System. Conventional air-insulated high-voltage switchgear includes various components including circuit breakers, current transformers, and disconnectors as separate parts. These components need an individual installation space, which makes the installation of these components very complex. However, innovative high-voltage switchgear overcome 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,rapid industrialization across the globe is one of the major factors driving the growth of the Global High-voltage Switchgear market for AC Transmission System. Several developed and developing countries such as India, China, Japan, Brazil, and Taiwan are going through an industrialization phase. Post global economic recession, the governments of these countries have implemented several initiatives to improve their infrastructure.Thus, increasing industrialization and urbanization are driving the demand for electricity across the globe. In addition, the growing electricity demand globally is resulting in an increase in installed power generation capacity, which necessitates the expansion of existing power transmission networks across the globe, which in turn is driving the Global High-voltage Switchgear market for AC Transmission System.
Further, the report states that a major challenge in the market is the declining profit margins of vendors. The prices of high-voltage switchgear for AC transmission system are increasing due to the increase in the prices of raw materials.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Mitsubishi Electric Corp., Bharat Heavy Electricals Ltd., Crompton Greaves Ltd., GE Co., Eaton Corp., Hyosung Corp., OJSC Power Machines, and Xian XD Switchgear Electric Co. Ltd.
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/content/global-high-voltage-switchgear-ac-trans…
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-software
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TechNavio Announces the Publication of its Research Report -Global High Voltage Switchgear for AC Transmission System Market 2012-2016
