2012-09-03 04:11:07 -
Strategic Analysis of the Gulf Cooperation Council Medium-Voltage Switchgear Market - a new market research report on companiesandmarkets.com
The MV switchgear market in Gulf Cooperation Council (GCC) has evolved over the years with the emergence of local participants. Although the traditional global players still hold the majority of market share, local manufacturers have gained technological expertise to surface as important regional suppliers. It was only a matter of time before domestic companies came under the spotlight, considering the double digit growth in the demand for electricity from in almost all GCC countries. As there is no sign of let up in demand, GCC countries are aggressively spending on their power sector to improve their generation capacity. This will infuse funds into the transmission and distribution (T&D) segment, which, in turn, will increase the adoption of MV switchgears.Further, the
GCC grid interconnection project and continued expansion of the oil & gas sector are also expected to indirectly drive the MV switchgears market. Infrastructure development and continuous investment in industries will ensure that this market continues to grow at a healthy rate. Further, the upcoming 2022 FIFA World Cup in Qatar will attract investors to infrastructure and construction, which will directly propel the market.However, despite the market potential, suppliers´ margins have narrowed due to the rise in raw material (metals) costs and stiff competition among manufacturers. Delays in the execution stages, which result in a long gestation periods during the equipment supply stage, and high lead time for sub-components have also restrained the growth of the market to some extent. As the sub-suppliers are usually overbooked with orders, manufacturers are hard pressed to reduce lead times. To reduce costs and lead time, many multinational companies are trying to source their products from sourcing opportunity areas such as Eastern Europe and Asia. Many have also signed joint ventures with local panel manufacturers to reduce their production costs and make the most of the opportunities in the GCC MV switchgear market.Market SectorsExpert analysts thoroughly examine the following market sectors in this research:- Indoor switchgears
- Outdoor switchgears
- Ring main unitsReport ScopeThe Gulf Cooperation Council (GCC) medium voltage (MV) switchgear market is well established with considerable demand from the transmission and distribution (T&D) utilities, power generation companies, industrial and commercial end-user segments. The following products have been covered in the research service: Indoor Switchgear (ISG), Outdoor Switchgear (OSG), and Ring Main Units (RMU). The report analyzes regional level and specific country level trends and competition.
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