Bharat Book Bureau Provides the Trending Market Research Report on “Switchgear Global Market Opportunities and Strategies To 2030” under Consumer Goods Category. The report offers a collection of superior Market 2030 research, Market 2030 analysis competitive intelligence and Market 2030 reports.
Global Switchgear Market Opportunities And Strategies To 2030 from The provides the strategists, marketers and senior management with the critical information they need to assess the global switchgear market.
Switchgear Global Market Opportunities And Strategies To 2030
Including: By Type Of Product: Low Voltage; Medium Voltage; High Voltage
By End User: Industrial; Utilities; Residential; Commercial; Switchgear
Covering: ABB Ltd; Schneider Electric; Siemens AG; Mitsubishi Electric Corporation; Eaton Corporation Inc.
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• Outperform competitors using accurate up to date demand-side dynamics information.
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• Identify growth segments for investment.
• Facilitate decision making on the basis of historic and forecast data and the drivers and restraints on the market.
• Create regional and country strategies on the basis of local data and analysis.
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• Benchmark performance against key competitors.
• Develop strategies based on likely future developments.
• Utilize the relationships between key data sets for superior strategizing.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Gain a global perspective on the development of the market.
Where is the largest and fastest growing market for the switchgear market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global switchgear market opportunities and strategies to 2030 report from the answers all these questions and many more.
The report covers the following chapters
Executive Summary – The executive summary section of the report gives a brief overview and summary of the report
Report Structure – This section gives the structure of the report and the information covered in the various sections.
Introduction - The introduction section of the report gives brief introduction about segmentation by geography and segmentation by type, and by end-user industry.
Market Characteristics – The market characteristics section of the report defines and explains the switchgear market. This chapter includes different services covered in the report and basic definitions.
Trends And Strategies – This chapter describes the major trends shaping the global switchgear market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
Global Market Size And Growth – This section contains the global historic (2015-2019) and forecast (2023F, 2025F, 2030F) market values, and drivers and restraints that support and restrain the growth of the market in the historic and forecast periods.
Regional Analysis – This section contains the historic (2015-2019), forecast (2019-2023F, 2025F, 2030F) market value and growth and market share comparison by region.
Market Segmentation – This section contains the market values (2015-2019, 2019-2023F, 2025F, 2030F) and analysis for segment by type in the market.
Regional Market Size And Growth – This section contains the region’s market size (2019), historic and forecast (2015-2019, and 2023F, 2025F, 2030F) market values, and growth and market share comparison of major countries within the region. This report includes information on all the regions (Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa).
Competitive Landscape – This section covers details on the competitive landscape of the global switchgear market, estimated market shares and company profiles of the leading players.
Key Mergers And Acquisitions – This chapter gives the information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
Market Opportunities And Strategies– This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
Conclusions And Recommendations – This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for switchgear in terms of products offerings, geographic expansion, marketing strategies and target groups.
Appendix – This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
The global switchgear market is segmented into -
By Type Of Product: Low Voltage; Medium Voltage; High Voltage
By End User: Industrial; Utilities; Residential; Commercial; Switchgear
Companies Mentioned: ABB Ltd; Schneider Electric; Siemens AG; Mitsubishi Electric Corporation; Eaton Corporation Inc.
Countries: China, Japan, India, Australia, Indonesia, South Korea, USA, Brazil, UK, Germany, France, Russia
Regions: Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
This report describes and evaluates the global switchgear market. It covers 2015 to 2019, termed the historic period, and 2019 to 2023 termed the forecast period, along with further forecasts for the periods 2023-2025 and 2025-2030.
The global switchgear market reached a value of nearly $96.9 billion in 2019, having increased at a compound annual growth rate (CAGR) of 5.9% since 2015. The market is expected to decline from $96.9 billion in 2019 to $82.1 billion in 2020 at a rate of -15.3%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7.5% from 2021 ad reach $113.5 billion in 2023.
Growth in the historic period resulted from rise in power consumption, favorable government initiatives, and economic growth in emerging markets. Factors that negatively affected growth in the historic period were political uncertainties and geopolitical tensions, and susceptibility to hacking.
Going forward, increasing demand for electricity, growing use of electricity in transportation, investments in renewable energy, increasing demand for electricity from manufacturing, interest rates, replacement of old switchgears, and load management and balance will drive the growth. Factors that could hinder the growth of the switchgear market in the future include volatility in raw material prices, environmental regulations, and COVID-19 pandemic.
The switchgear market is segmented by product type into low voltage, medium voltage, and high voltage. The low voltage market was the largest segment of the switchgear market segmented by product type, accounting for 49.5% of the total in 2019. Going forward, the medium voltage segment is expected to be the fastest growing segment in the switchgear market, at a CAGR of 4.3%.
The switchgear market is segmented by end user into industrial, utilities, residential, and commercial. The industrial market was the largest segment of the switchgear market segmented by end user, accounting for 28.6% of the total in 2019. Going forward, the industrial segment is expected to be the fastest growing segment in the switchgear market, at a CAGR of 4.05%.
Asia Pacific was the largest region in the global switchgear market, accounting for 45.3% of the total in 2019. It was followed by Western Europe, North America, and then the other regions. Going forward, the fastest-growing regions in the switchgear market will be Eastern Europe, and Africa, where growth will be at CAGRs of 8.0% and 6.5% respectively. These will be followed by Asia Pacific, and the Middle East, where the markets are expected to grow at CAGRs of 6.4% and 5.0% respectively.
The global switchgear market is highly fragmented, with a large number of players in the market. The top ten competitors in the market made up to 7.43% of the total market in 2019. Major players in the market include ABB Ltd, Schneider Electric, Siemens AG, Mitsubishi Electric Corporation, and Eaton Corporation Inc.
The top opportunities in the switchgear market segmented by product type will arise in the low voltage market segment, which will gain $8.0 billion of global annual sales by 2023. The top opportunities in the switchgear market segmented by end user will arise in the industrial segment, which will gain $4.8 billion of global annual sales by 2023. The switchgear market size will gain the most in the China at $4.4 billion.
Market-trend-based strategies for the switchgear market include focusing on digital technologies, focusing on developing innovative products to meet the changing requirements of the power generation industry, investing in eco-efficient solutions for minimizing the impact on the environment, deploying Internet of Things (IoT) enabled switchgears for automated operations and energy management, promoting automated switchgear within power generation and transmission industries to adopt smart grid operations, and developing and promoting specialized switchgear for critical industries. Player-adopted strategies in the switchgear market include strengthening presence through contracts and agreements, upgrading manufacturing facilities to increase the production, and boosting business through acquisitions and mergers.
Amidst the unprecedented outbreak of corona virus, governments across the world are advising people to stay indoors and practice social distancing, to reduce the spread of the pandemic. This has decreased short-term potential growth opportunities for the switchgear industry. COVID-19 pandemic has halted the economic activity in the majority of countries. Besides, with manufacturing activity around the world shut down, the demand for electricity from industrial and commercial segments has declined sharply. Owing to the COVID crisis, it is advisable for the businesses in the switchgear manufacturing prioritize hygiene, and digitize operations such as billing.
To take advantage of the opportunities, the recommends the switchgear companies to focus on developing smart switchgears, focus on developing digital switchgears, take initiatives to use renewable energy, focus on expanding manufacturing base in low-cost countries, set up authorized distribution channel, scale up through collaborations, offer competitive pricing, use direct-to-consumer (DTC) advertising, organizing events and campaigns, increasing visibility through a high-performance website and focus on fast-growing end-use industries.
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