TechNavio recognizes the following companies as the key players in the Global Electrical Equipment Market: Alstom SA, General Electric Co., Schneider Electric SA, and Siemens AG.
Commenting on the report, an analyst from TechNavio’s team said: “Due to increasing ecological concerns and stringent government regulations for air pollution, government and private power-generating companies are exploring new opportunities for clean energy generation. Power-generating companies are looking for alternative options such as wind energy, solar energy, and tidal energy for power generation. This has led to an increase in demand for electrical equipment such as turbines, power cables, and generator and sets. In 2012, 66 percent of the Global Electrical Equipment market share was held by turbines, power cables, and generators and sets, generating revenue of US$189,486 million. Developed countries such as the US, the UK, and Germany are increasing their investment in clean energy production.”
According to the report, one of the major growth drivers in the market is the increasing demand for electrical equipment from the Power industry. The Power industry in the APAC region is trying to increase its capacity, which in turn has made them invest in electrical equipment.
Further, the report states that one of the major challenges is fluctuations in the price of raw materials. Prices of metals and other raw materials are volatile and they tend to keep increasing year-on-year, resulting in a negative impact on the revenue of vendors.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are ABB Ltd., BHEL, Caterpillar Inc., Eaton Corp. plc, and Larsen and Toubro 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/report/global-electrical-equipment-market-2012-…
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
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report -Global Electrical Equipment Market 2012-2016
