Global Switchgear Contractor and Relay Market 2018-2022
About Switchgear Contractor and Relay
Switchgear is an are important transmission and distribution (T&D) equipment used for protection of the network. It can be of different types, based on the insulation type and the operating voltage level. In the late 1990s, ABB introduced a unique technology where switchgear makes use of both air and sulfur hexafluoride (SF6) gas insulation in its operation, known as the hybrid switchgear. Its primary characteristics involved: Gas-insulation technology that aids in arc-quenching, and Air-insulation technology that is used to insulate the bus bars that are connected to the network.
Technavio’s analysts forecast the global switchgear contractor and relay market to grow at a CAGR of 6.38% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global switchgear contractor and relay market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Switchgear Contractor and Relay Market 2018-2022
Technavio recognizes the following companies as the key players in the global switchgear contractor and relay market: ABB, GE, Mitsubishi Electric, Schneider electric, and Siemens.
Other Prominent Vendors in the market are: BHEL, CG, Eaton, ELEKTROBUDOWA, ELECTROALFA, HYOSUNG, TOSHIBA, C&S Electric, Powell Industries, and LARSEN & TOUBRO.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is mobile substations: Solution for provisional needs. Certain emergency situations; such as natural calamities like earthquakes and cyclones; and catastrophic equipment failure demand the installation of electric substations that restore normal power supply as fast as possible. Mobile substations prove beneficial by catering to temporary and offshore needs, thus enabling utilities to efficiently restore electricity services to customers during outages. Mobile substations can be up-and-running within 24 hours of arrival. They can also be used as high-voltage bays on mobile trucks. A hybrid switchgear is a compact and flexible substation. Such attributes enable these substations to be installed inside limited space. Mobile substations are designed to accommodate the demanding design specifications, and this makes them uniquely flexible and mobile.”
According to the report, one driver in the market is increasing global electricity generation. The global energy generation: as per the US EIA, is predicted to increase to 34 trillion kWh by 2040, a rise of approximately 45% in comparison to 2015, when the figures were 23.4 trillion kWh. Electricity has been and will be the most widely and rapidly growing form of end-user energy consumption. Most of the significant developments in terms of generation of electricity are expected to stem from the developing non-OECD nations. Improved living standards in these nations have escalated the demand for the use of several home appliances and electronic devices in residential houses as well as commercial spaces such as educational institutions, offices, malls, hospitals, and airports.
ABB, GE, Mitsubishi Electric, Schneider electric, Siemens, BHEL, CG, Eaton, ELEKTROBUDOWA, ELECTROALFA, HYOSUNG, TOSHIBA, C&S Electric, Powell Industries, and LARSEN & TOUBRO.
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