2014-02-18 19:53:03 - Global Power Products Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Power Products market is to grow at a CAGR of 4.12 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in industrialization in developing countries. The Global Power Products market has also been witnessing the increase in mergers and acquisitions. However, the lack of effective product differentiation could pose a challenge to the growth of this market.
A major trend in the Global Power Products market is the increase in investments in renewable energy. As GHG emission has become a major concern across the world, the governments of several developed and developing countries have taken various initiatives to reduce these emissions. As a result, they have started focusing more on
renewable energy sources such as solar and wind energy. In addition, the adoption of renewable energy is expected to increase the demand for circuit breakers and other power products. This equipment ensures the safety, stability, and reliability of the electricity-generating units.
The Global Power Products market is witnessing many growth drivers such as the increase in industrialization in developing countries. Several organizations across various industries are expanding their manufacturing plants, thereby creating significant opportunities for the power products vendors across the globe.
One of the major challenges in this market is the lack of product differentiation. The Global Power Products market is home to several local and regional vendors that provide similar products at competitive prices. This forces the vendors to differentiate their products so that they can gain a competitive edge in the market.
The key vendors dominating this market space are ABB Ltd., Siemens AG, Schneider Electric SA, and Alstom SA. The other vendors mentioned in the report are GE Co., Areva SA, Bharat Heavy Electricals Ltd., Megawin Switchgear Pvt Ltd., HPL Group, and C and S Electric Ltd.
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