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C&M: Global industry for switch gear to be driven by increasing demand for renewable sources of energy
Global Switch Gear Market 2014-2018 - a new market research report on 2014-03-18 08:46:03
The Global Switch Gear market is to grow at a CAGR of 8.53 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing demand for renewable sources of energy. The Global Switch Gear market has also been witnessing the steady shift from conventional switch gear to modular switch gear. However, the volatility of crude oil prices could pose a challenge to the growth of this market.
The steady shift from conventional switchgears to modular switchgear is one of the major trends in the Global Switchgear market. The conventional air-insulated switchgear has various components such as circuit breakers, current transformers, and disconnectors. These components need more installation space thereby increasing the cost of installation. However, the modular switchgear overcomes these issues by integrating these functions into the breaking chamber of the circuit breaker, which results in easy installation and optimization of the overall operational cost.
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