Switchgear Industry & Motor Control Centers Market Predicted to Witness a Pronounce Growth at a Steady CAGR By 2023

Orbis Research announces that it has released new market research reports on “Motor Control Centers-Global Market Outlook (2017-2023)” and “Switchgear-Global Market Outlook (2017-2023)” to its database.

Dallas, United States - October 3, 2017 /MarketersMedia/ —

Global Switchgear Market is accounted for $82.98 billion in 2016 and expected to grow at a CAGR of 7.2% to reach $134.99 billion by 2023. The market is driven by continued growth of construction & developmental activities, increasing access to electricity in developing countries, and growth in renewable power generation. On the other hand, stringent environmental & safety regulations for sf6 switchgears and increasing competition from the unorganized sector of the switchgear market are inhibiting the market growth. Few trends that market is witnessing are upcoming smart cities, aging power infrastructure and HVDC transmission.

Get a PDF sample of Switchgear Market @ http://www.orbisresearch.com/contacts/request-sample/454443 .

The gas insulated switchgear segment led the market and is anticipated to dominate the market during the forecast period due to rising energy demand and extension/replacement of old switchgear at sub-stations. Further, In August 2016, GIL Automations supplied 33kV GIS for operations at the facility of an International Oil Company operating in Nigeria which includes design and fabrication of the 33kV switchgear. Excellent insulating property along with high reliability index will drive the global industry growth. Air insulated switchgear market share will grow moderately. Vacuum insulated Switchgear market will witness strong growth owing to its high impulse to withstand voltages and power frequencies. Pollution and noise free operation along with ease of timing and actuation stimulate the segment demand.

Based on end user, the transmission & distribution utilities segment is projected to grow at the fastest rate. This is due to the increasing investments in sub-station automation, modernization of electric grid, and smart utilities (smart grids and smart meters). In 2017, Blackstone Group LP declared an investment of USD 100 billion towards the refurbishment of aging infrastructure across the U.S. The investment is backed by the Saudi Arabia Public Investment Fund under the Strategic and Policy Forum.

Medium voltage switchgear market segment dominates the global switchgear market. Rapid growth in industrialization of small and medium scales in developing countries like China, India and Japan is expected to propel demand for medium voltage switchgear market. For instance, in 2016, EverSource Energy declared an investment of about USD 900 million towards refurbishment of transmission networks across the U.S. Power is usually produced at a medium-voltage level and is then stepped up to higher voltage for transportation over longer distance. As the number of generation units increases, the number of medium-voltage switchgears used also rise in generation.

Access the full report of Switchgear Market @ http://www.orbisresearch.com/reports/index/switchgear-global-market-outlook-2017-2023 .

Asia-Pacific market is anticipated to dominate the global market during the forecast period. As such, governments of India and China have introduced various initiatives to improve grid connectivity in remote locations. The presence of a large number of companies, has introduced competitive pricing pressure in the market. Europe and North America markets are expected to contribute significant amount of market share during forecast period due to various factors like need for grid modernization, replacement of old installations and renewable power generation.

The key players in global Switchgear market are ABB Ltd, Alstom Grid, GE, BHEL, Crompton Greaves, Eaton, Hyosung Power and Industrial Systems, Mitsubishi Electric, Schneider Electric, Siemens, Powell Industries Inc. and Xian XD.

Insulations Covered:
Air
Oil
Gas
Vacuum
Other Insulations

Voltages Covered:
Low
Medium
High

End Users Covered:
Commercial and Residential Infrastructure
Manufacturing and Process Industries
Transmission & Distribution Utilities

Currents Covered:
DC
AC

Installations Covered:
Outdoor
Indoor

Make an enquire of Switchgear Market @ http://www.orbisresearch.com/contacts/enquiry-before-buying/454443 .

Motor Control Centers-Global Market Outlook (2017-2023)

Global Motor Control Centers Market is accounted for $12.64 billion in 2016 and expected to grow at a CAGR of 10.1% to reach $24.92 billion by 2023. The market is driven by increasing demand for power, new customized compressed air rental solutions and expanding construction activity in GCC countries. However, the presence of stringent regulations coupled with rising environmental awareness, rise in distributed energy and battery storage might hamper the market growth. Next-generation air compressors and obsolete permanent power plants will provide good opportunity for the market growth.

Get a PDF sample of Motor Control Centers Market @ http://www.orbisresearch.com/contacts/request-sample/454465 .

The gas generators segment is projected to be the fastest growing market because these generators run mainly on natural gas. They are more efficient and cleaner. They are mostly used for light duty applications, such as supplying electricity for residential purposes. Among the end-user, the construction sector led the market due to growth of infrastructural development in the emerging economies. However, Oil & gas segment is also expected to exhibit substantial demand as there is huge power requirement in onshore and offshore oil and gas fields. Most of the drilling sites and oil rigs are located in remote areas where there is limited access to grid power.

Access the full report of Motor Control Centers Market @ http://www.orbisresearch.com/reports/index/motor-control-centers-global-market-outlook-2017-2023 .

The European market is anticipated to be the fastest growing Motor Control Centers market. Factors such as increased power consumption and aging power plants as well as a majority of the nuclear power plants in Europe are over 50 years old, thus, increasing the risks of power outages. Growing construction markets especially in Central and Eastern Europe are aiding market growth for Motor Control Centerss. Hence with rapid industrialisation and commercialisation engulfing the Eastern European region, the Motor Control Centers markets are expected to benefit. The North American market is expected to dominate the market during the forecast period due to the macroeconomic factors influencing the market and an increase in infrastructure development.

The key players in global Motor Control Centers market are Aggreko plc, APR Energy, Atlas Copco, Energyst, Himoinsa, United Rentals, Inc., Sunbelt Rentals, Inc., Herc Rentals, Inc. and Caterpillar, Inc.

Fuel Types Covered:
Gas Generators
Diesel Generators
Other Fuel Types

Power Ratings Covered:
Up to 50 kW Power Rating
51 kW–500 kW Power Rating
501 kW–2,500 kW Power Rating

Applications Covered:
Base Load/Continuous Power
Peak Shaving
Standby Power

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

Make an Enquire of Motor Control Centers Market @ http://www.orbisresearch.com/contacts/enquiry-before-buying/454465 .

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Source: MarketersMedia

Release ID: 245463