According to a
research report released by Transparency Market Research, the global
LV and MV switchgear market is growing at a CAGR of 8.50% from 2014
to 2020. The market was valued at US$47.45 bn in 2013 and is expected
to reach US$83.28 bn by 2020. The research report, titled “LV and
MV Switchgear Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2014 - 2020”, covers all aspects of the market
in order to derive an accurate forecast for it.
Browse the full LV
and MV Switchgear Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2014 - 2020 report at
http://www.transparencymarketresearch.com/lv-mv-switchgear-industry.html
In terms of volume,
the global LV and MV switchgear market is growing at a CAGR of 6.7%
within the report’s forecast period from 2014 to 2020. At this
growth rate, the global LV and MV switchgear market, which was at
2,668.6 thousand units in 2013, will reach 4,195.0 thousand units in
2020.According to the report, the key driving factor for the global
LV and MV switchgear market is the growing demand for protection and
safety in electrical distribution systems. By design, a switchgear is
used to control, regulate, and protect power generation. A switchgear
finds use in power transmission and distribution networks as well.
The global LV and MV
switchgear market is also expected to receive large-scale attention
due to the rapid urbanization and electrification of rural and urban
areas in many developing nations. The report suggests that this rate
of urbanization will be a strong driver for the global LV and MV
switchgear market within the given forecast period.The global LV and
MV switchgear market will also receive rising demand from developed
economies that are looking to expand their urban and industrial
infrastructure.
In terms of
applications, the global LV and MV switchgear market is dominated by
the power plants segment. The power plant segment held a share of
40.50% in LV switchgears and 40.39% in MV switchgears in 2013. The
fastest growing application segment of the global LV and MV
switchgear market for the given forecast period is utilities.In terms
of voltages, the global LV and MV switchgear market is led by
switchgears of less than 1kV in terms of both revenue and volume.
This segment of voltage held 49.26% of the LV switchgears market and
65.80% of the MV switchgear market in 2013.
Geographically, the
global LV and MV switchgear market is dominated by Asia Pacific in
terms of both revenue and volume. In 2013, the region held 42.10% of
the global LV switchgear market and 45.1% of the HV switchgear
market. The growth of the market is primarily attributed to the heavy
industrialization rates of countries in the Asia Pacific region.The
report details key players in the global LV and MV switchgear market,
including OJSC Power Machines, GE Co., Mitsubishi Electric Corp.,
Hyosung Corp., Eaton Corp., Crompton Greaves Ltd., and ABB Ltd.
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Key segments of the
Global LV and MV Switchgear Market
LV and MV switchgear
market, by product standards:
LV and MV
switchgears follow IEC (International Electrotechnical Commission)
standards
LV and MV
switchgears follow ANSI (American National Standards Institute)
standards
LV and MV
switchgears that follow other (JIS, NEMA and GOST) standards
LV and MV switchgear
market, by Application:
Power plants
Oil & Gas
Industry
Petrochemical
industry
Pulp and paper
industry
Utilities sector
LV and MV switchgear
market, by Voltages:
Less than 1kV
1kV - 5kV
6kV - 15kV
16kV - 27kV
28kV - 38kV
LV and MV switchgear
market, by Components:
Circuit Breaker
Relays
Others (Enclosure,
Fuses, Bus Bars and Switches)
LV and MV switchgear
market, by Insulation:
Air
Gas
Others (oil and
solid)
LV and MV switchgear
market, by geography:
North America
Europe
Asia Pacific
Rest of the World
(Latin America, Middle East and Africa)
About Us
Transparency Market
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and analyze information.
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repository is continuously updated and revised by a team of research
experts so that it always reflects the latest trends and information.
With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
techniques to develop distinctive data sets and research material for
business reports.
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