Global Switchgear Market 2020-2024

Global Switchgear Market 2020-2024

Technavio has been monitoring the switchgear market and it is poised to grow by $ 53.23 bn during 2020-2024 progressing at a CAGR of 8% during the forecast period. Our reports on switchgear market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is the driven by the growing construction activities and increasing global power demand. In addition, growing construction activities is anticipated to boost the growth of the market as well.

The switchgear market analysis includes voltage level segment and geographic landscapes.

Technavio's switchgear market is segmented as below:

By Voltage Level

• Low and medium voltage
• High voltage

By Geographic Landscapes

• APAC
• Europe
• North America
• MEA
• South America

This study identifies the increasing renewable power generation as one of the prime reasons driving the switchgear market growth during the next few years.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our switchgear market covers the following areas:

• Switchgear market sizing
• Switchgear market forecast
• Switchgear market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading switchgear market vendors that include ABB Ltd., Eaton Corporation Plc, Fuji Electric Co. Ltd., Hitachi Ltd., Hyosung Corp., Larsen and Toubro Ltd., Mitsubishi Electric Corp., Schneider Electric SE, Siemens AG, and Toshiba Corp.. Also, the switchgear market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.