Market
was valued at USD 47.25 billion in 2013, which is expected to reach
USD 83.28 billion by 2020, growing at a CAGR of 8.5% from 2014 to
2020. By volume, global LV and MV switchgear market is expected to
grow at a CAGR of 6.7% during the forecast period from 2014 to 2020
to reach a market size of 4,195.0 thousand units by 2020. In 2013,
volume of the market was 2,668.6 thousand units.
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LV and MV Switchgear Market Report with Full TOC at
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Increasing
demand for safety and protection in electrical distribution systems
is the major factor driving the LV and MV switchgear market.
Switchgears are the switching devices designed to protect, regulate
and control power generation, transmission and distribution network
and substations. By voltage, switchgears are classified as low
voltage (LV), medium voltage (MV), and high voltage. LV and MV
switchgears are used in different industry including power plants,
oil & gas, pulp and paper, utilities sectors and mining among
others. Expansion of industrial infrastructure and construction
sectors are expected to have positive impact on demand for LV and MV
switchgears during the forecast period from 2014 to 2020. In
addition, rapid electrification in urban and rural areas in emerging
market is estimated to drive demand for LV and MV switchgears during
the forecast period, i.e., from 2014 to 2020. Renewal of older
transmission and distribution networks is expected to drive future
demand for LV and MV switchgears during the forecast period.
The
global LV and MV switchgear market by application is divided into
four segments: power plants, oil & gas and petrochemical
industry, pulp and paper industry and utilities sector. Both by
revenue and volume, power plants are the largest contributor in the
LV and MV switchgear market in 2013 and accounted for a market share
of 40.50% and 40.39% respectively. Rapid electrification and
increasing demand for safety aspects of power plants are driving the
demand of LV and MV switchgears in power plants. However, when it
comes to application of LV and MV switchgears, utilities sector will
remain one of the fastest growing sector during the forecast period.
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The
global LV and MV switchgear market by voltages is divided into five
voltage ranges: less than 1kV, 1kV - 5kV, 6kV - 15kV, 16kV - 27kV and
28kV - 38kV. Both by revenue and volume, switchgears in the voltage
range less than 1kV are the largest contributor in the LV and MV
switchgear market in 2013 and accounted for a market share of 49.26%
and 65.80% respectively. Growth of switchgears in the voltage range
less than 1kV is driven by rising application of low voltage
switchgears in real estate sector and in electrification projects in
emerging market.
The
global LV and MV switchgear market has been segmented into four broad
regions: North America, Europe, Asia Pacific and RoW. Both by revenue
and volume, Asia Pacific is the global market in 2013, accounting for
42.1% and 45.1% of the overall market respectively. The growth is
attributed to an increased degree of electrification and increase in
demand for electric transmission & distribution solutions in Asia
Pacific.
Some
of the leading players in the market are ABB Ltd. (Switzerland),
Powell Industries Inc (U.S.), Siemens AG (Germany), Schneider
Electric SE (France), Bharat Heavy Electricals Ltd. (India), Crompton
Greaves Ltd. (India), Eaton Corp. (Ireland), Hyosung Corp.(South
Korea), Mitsubishi Electric Corp.(Japan), GE Co. (U.S.) and OJSC
Power Machines (Russia) among others. The report studies the global
LV and MV switchgear market, and provides estimates in terms of
revenue (USD Million) and volume (thousand units) from 2014 to 2020.
The scope of the report includes competitive analysis of various
market segments based on the product standards, components, voltage
ranges, insulation, applications and in-depth cross sectional
scrutiny of the LV and MV switchgear market across different
geographic segments.
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The
report segments the global LV and MV switchgear market as:
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: The market is segmented on
the basis of geography into North America, Europe, Asia Pacific and
Rest of the World (RoW).
- North America
- Europe
- Asia Pacific
- Rest of the World (Latin America, Middle East and Africa)
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