This research service analyses the switchgear market in Asia-Pacific and analyzes the current conditions and future market opportunities. Switchgear market is discussed in details at the regional level and market revenue forecasts are provided for each country. High voltage, medium voltage and low voltage switchgears are the key product segments. Drivers and restraints affecting market revenues, OEMs' presence in the market, and their market share breakdown have been provided at the regional level. The base year for the study is 2013, and forecast period is from 2014 to 2018.
In 2013, the Asia-Pacific (APAC) switchgear market, with a revenue of $ million, shrunk by%.
Japan had the largest switchgear market in 2013 with a revenue of $ million. However, the Vietnamese switchgear market witnessed the fastest growth, expanding at % in the calendar year of 2013 with a revenue size of $ million.
Heavy investment in power transmission and distribution (T&D) sector in the countries of ASEAN (Association of Southeast Asian Nations) is expected to drive the Southeast Asian (SEA) market at a compound annual growth rate (CAGR) of% from 2013-2018.
Japanese and Australian switchgear markets shrunk by % and % respectively in 2013 due to low spending by the utilities sector of both the countries. However, for the original equipment manufacturers (OEMs), the market is likely to grow from 2015 owing to the reprise of demand from the replacement market.
The switchgear replacement markets of South Korea, Taiwan and New Zealand are likely to make significant revenue contributions.
Industries such as steel, oil and gas, mining and manufacturing are expected to drive the SEA market in the forecast period.
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