North America Switchgear Market to Hit $25 Billion by 2025: Global Market Insights, Inc.
The United States switchgear market was valued at over USD 12 Billion in 2018 and is projected to secure lucrative CAGR from 2019 to 2025 owing to regulatory reforms toward the refurbishment and revamping of the existing power infrastructure.
SELBYVILLE, Del., April 24, 2019 (Newswire.com) - The DC switchgear market is projected to expand on account of rising demand for HVDC systems coupled with comparatively improved lead time requirement. Effective interconnection mechanism for alternating current (AC) circuits favored by operational versatility will further foster the industry landscape.
The North America Switchgear Market is expected to surpass USD 25 billion by 2025 as reported in the latest study by Global Market Insights, Inc. Growing expenditure toward infrastructural development along with regulatory measures for the expansion of electricity network across grid isolated regions will augment the switchgear market size across North America. In addition, substantial upsurge in power demand in line with growing concern toward the enhancement of conventional power grid will propel the industry scenario.
Low Voltage switchgear market size by 2025 is anticipated to surpass USD 13 billion on account of its wide applicability across electricity sector and process industries. Favorable power distribution reforms coupled with growing demand for smart monitoring & control units will augment the industry landscape.
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Air insulation-based switchgear market share will expand on account of low capital investment and effective operational safety. Increasing investment toward technology and product enhancements will complement the overall industry scenario. Gas insulated units in 2018 accounted for over 13% of the industry share. Furthermore, high dielectric strength, improved reliability, minimal maintenance, and low space requirement are the key parameters which make its deployment favorable over its substitutes.
Browse key industry insights spread across 224 pages with 180 market data tables & 46 figures & charts from the report, “North America Switchgear Market Size By Voltage (LV, MV, HV), By Insulation (Air, Gas, Oil, Vacuum), By Installation (Indoor, Outdoor), By Current (AC, DC), By End Use (Residential & Commercial, Industrial, Utilities) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico) Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/north-america-switchgear-market
Inclination shift in reference to energy efficiency and rising concern toward the integration of diverse frequency transmission links will boost the industrial switchgear market. Growing community-based electrification programs in line with rising private investment from institutions including Asian Development Bank, International Finance Corporation and World Bank will positively influence the utility switchgear industry.
The U.S. switchgear market in 2018 was assessed over USD 12 Billion. Government initiatives toward refurbishment and replacement of existing power infrastructure in line with increasing demand for cost-efficient technology will boost the industry scenario. Furthermore, growing demand for power along with increasing fund flow toward installation of renewable energy will positively influence the business outlook.
Major players across the North America switchgear market include ABB, Schneider Electric, Toshiba, Siemens AG, Mitsubishi Electric Systems, Ormazabal, GE, Crompton Greaves, Iljin Electric, Eaton, Hitachi Ltd., BHEL, Powell Industries, Larson & Turbo, Lucy Electric, and Hubbell, Rittal, Hyosung, Fuji Electric, and Meidensha Corporation.
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Browse Related Reports:
Medium Voltage Switchgear Market By Voltage (3 kV to 9 kV, > 9 kV to 15 kV, > 15 kV to 21 kV, > 21 kV to 27 kV, > 27 kV to 33 kV, > 33 kV), By Component (Circuit Breakers, Contactors, Switches & Disconnector, Fuses, Others), By Installation (Indoor, Outdoor), By Insulation (Air, Gas, Oil, Vacuum, Others), By Enclosure (Metal {Indoor, Outdoor}, Non Metal {Outdoor}), By End-Use (Power Stations, Transformer Substations, Local Electricity Supply, Others), By Application (Residential, Commercial {Healthcare, Hospitality, Offices, Retail, Education, Others}, Industrial {Power, Oil & Gas, Railways, Arc furnace, Manufacturing & Processing Industries, Others}, Utility) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/medium-voltage-switchgear-market
Low Voltage Switchgear Market By Protection (Circuit Breakers {ACB, MCCB, MCB, MSP, MPCB}, Fuse {Fuse-Switch Disconnector, Switch Disconnector with Fuse, Others}), By Product (Fixed Mounting, Plug-in, Withdrawable Unit), By Rated Current (≤ 1000 Ampere, 1001 to 5000 Ampere, > 5000 Ampere), By Voltage Rating (≤ 250 Volts, 251 to 750 Volts, > 750 Volts), By Installation (Indoor, Outdoor), By Current (AC, DC) By Application (Substation, Distribution, Power Factor Correction, Sub Distribution, Motor Control) Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/low-voltage-lv-switchgear-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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