Today: November 26, 2015, 10:29 pm

Global switchgear market: $58.6 billion industry estimated in 2012
Switchgear Market for Power Industry, 2013 Update - Global Market Size, Equipment Market Share, Key Country Analysis to 2020 - a new market research report on 2014-03-31 06:55:01
The value of the global switchgear market revenue increased from $46.8 billion in 2008 to $58.6 billion in 2012. While low-voltage switchgears are the least costly of the different switchgear types, they account for the highest share of global revenue with 49% as of 2012. This is due to the large volume of low-voltage switchgears sold annually. Medium-voltage switchgears accounted for 36% of the switchgear market in 2012, followed by high-voltage switchgears with 15%. This is because, for a single high-voltage installation, multiple medium-voltage switchgears must be deployed.

China Accounts for the Biggest Share of the Market

China is the largest market for switchgears in the world, accounting for a share of 16.9% in 2012. The value of the Chinese switchgear market amounted to an estimated $7.7 billion in 2008 and increased to reach $9.9 billion in 2012. Due to the high growth rate of the market in China, the country is expected to account for a 19.2% share of the global market by 2020. China´s switchgear market is expected to grow at a Compound Annual Growth Rate (CAGR) of 10.8% between 2013 and 2020, while the global revenue is expected to increase at a CAGR of 9%.

Renewable Power Generation Drives the Medium-voltage Market in Western Europe and North American Countries

Since the late 2000s, more emphasis has been placed on increasing the share of renewable installed capacity and promoting distributed power generation. It has been found that distributed power generation adds to grid stability while reducing the load on the main system. Countries in the Western Europe and North America regions, such as Germany, France, the US and the UK are reducing their reliance on fossil imports and nuclear power while also reducing carbon emissions.

In order to achieve both of these goals, substantial investment and support is being offered for the development of renewable power generation. The EU has set an overall target for the cutting of emissions by 20% against 1990 levels by 2020 and has assigned individual targets. In the US, most states have set internal renewable energy targets.

Renewable power plants are typically used for distribution generation and are connected directly to 33 kilovolt (kV) and 11kV lines. This means that there is an increased market for medium-voltage switchgears at 33kV and 11kV voltage levels. This will result in the development of a new market for switchgears in Western Europe and the US. Additionally, the switchgear markets in the US and in Western European countries are also driven by retrofits.

Click for report details: ..

Browse all Energy and Utilities Market Research Reports ..

Browse all Energy and Utilities Company Profile Reports ..

Browse all Latest Market Research Reports ..

About Us is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles,’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.

Press Information

Published by
Mike King
London: +44 (0) 203 086 8600

# 611 Words
Related Articles
More From Finance
USGFX Anticipates A Rise In Forex Trading [..]
The Shanghai Composite Index has been volatile and at one stage dropped more than 30% from its June 12 peak, [..]
Credit-Yogi Recommends Reputable Debt Solution Companies To [..]
Many people who have poor credit don’t know what to do about it. They realize that their bad credit prevents [..]
Credit-Yogi Reveals Special Considerations for Military Members [..]
No one wants to have their vehicle taken back by their banks. It’s a source of stress for the individual [..]
Credit-Yogi Teaches Consumers How To Use HAMP [..]
Be Prepared to Utilize HAMP Lenders do not like to help borrowers prevent foreclosure by accessing the Obama loan modification [..]
Credit-Yogi Informs Military Members Facing Auto Repossession [..]
No one wants to have their vehicle taken back by their banks. It’s a source of stress for the individual [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.