The Business Research Company’s High Voltage Switchgear Global Market Report 2021: COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, September 3, 2021 /EINPresswire.com/ — According to the new market research report ‘High Voltage Switchgear Global Market Report 2021 – COVID-19 Impact And Recovery’ published by The Business Research Company, the global high voltage switchgear market is expected to grow from $11.31 billion in 2020 to $11.85 billion in 2021 at a compound annual growth rate (CAGR) of 4.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $14.19 billion in 2025 at a CAGR of 5%. The demand for electricity generation is projected to drive the high voltage switchgear market.
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The high voltage switchgear market consists of sales of high voltage switchgear and related services. High voltage switchgears are electrical equipment used in an electrical path to deal with voltage above 36kV and are designed to perform some operations such as control, regulate, and switch on/off as needed in electric circuit.
Trends In The Global High Voltage Switchgear Market
Electronic and Telecommunication companies are increasing the implementation of mobile substations. Installation of mobile substations enables to restore electricity under outdoor conditions or in unforeseen circumstances and are functionally designed to provide temporary power supplies as quickly as possible. In addition, these mobile substations incorporate generator, transformer, metal clad switchgear, outdoor load break switches and breakers, which is used for network extensions, and temporary switching stations. For instance, ABB Group, a Switzerland multinational corporation designed the mobile substation for the Italian railway network. Thereby, the use of mobile substations as per necessity for energy generation is becoming the latest trend in the market.
Global High Voltage Switchgear Market Segments:
The global high voltage switchgear market is further segmented:
By Insulation Type: Gas Insulated, Oil Insulated, Air Insulated
By Application: Transmission And Distribution Network, Manufacturing & Processing, Infrastructure & Transportation
By Product Standard: Iec Standard, Ansi Standard
By Component: Circuit Breakers, Relays, Other
By Geography: The global high voltage switchgear market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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High Voltage Switchgear Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides high voltage switchgear market overviews, analyzes and forecasts market size and growth for the global high voltage switchgear market, high voltage switchgear market share, high voltage switchgear market players, high voltage switchgear market segments and geographies, high voltage switchgear market’s leading competitors’ revenues, profiles and market shares. The high voltage switchgear market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read High Voltage Switchgear Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
High Voltage Switchgear Market Organizations Covered: ABB Ltd., General Electric, Company Crompton Greaves Limited, Fuji Electric, Hitachi, Hyosung Corporation, Mitsubishi Electric Corporation, Toshiba Electric Corporation, Siemens AG, Eaton Corporation, Schneider Electric SE, China XD Electric Group Co. ltd, Henan Pinggao Electric Co., Ltd., Hyundai Heavy Industry, Ltd, Nissin Electric, Shanghai Siyuan Electric Co., Ltd, BHEL, LSIS, Shenyang High-Voltage Switchgears Ltd, Energomash, New Northeast Electric Group High Voltage Switchgear Co., Ltd, Shandong Taikai High-volt Switchgear Co., Ltd, Larsen &Turbo, Hubbell, Powell Industries, Rittal, Meidensha Corporation, Iljin Electric, Ormazabal, Alstom SA, OJSC Power.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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