LV and MV Switchgear Market Size By Application, Industry Analysis Reports, Regional Outlook (North America, Europe, Asia Pacific, Middle East & Africa, And South America), Growth Potential, Price Trends, Competitive Market Shares & Forecast 2023 - 2030
In general, switchgears are the switching devices that form the backbone of modern electrical distribution systems.
According to IEC 60947, switchgears with rated voltages up to 1000 V ac and 1500 V dc are termed as low voltage (LV) switchgear, and medium voltage (MV) switchgear is ranged from 1000V ac rating up to 36 KV and 40.5 KV in term of IEC 62271.
Schneider Electric, ABB, and Eaton captured the top three revenue share spots in the LV and MV Switchgear market in 2015.Schneider Electric dominated with 10.28 percent revenue share, followed by ABB with 9.05 percent revenue share and Eaton with 6.73 percent revenue share.
In terms of the classification segment, Low Voltage Switchgear market accounted for over 57% of the overall share in 2014. These are generally used in industrial, commercial and domestic applications.
In terms of the applications segment, the power generation segment was the largest contributor in the LV and MV Switchgear market. In 2014 the utilities segment amounted for 35.72% revenue share. There is growth in demand for efficient and smart power generation which is required to address the futuristic demand for electricity.
The Global LV and MV Switchgear Market was valued at xxx million USD with a CAGR xx% from 2018-2022. Subsequently, it will touch xxx million USD in 2023 with a CAGR xx % from 2023 - 2030.
In the global LV and MV Switchgear Market, This report focuses particularly in North America, South America, Europe and Asia-Pacific, and Middle East and Africa. This report classifies the Market on the basis of application, type, regions, and manufactures.
In Market segmentation by manufacturers, the report covers the following companies-
Schneider
ABB
Eaton
Siemens
GE
Mitsubishi
Fuji
HYUNDAI
Toshiba
SENTEG
Hyosung
MEIDENSHA
CHINT
Changshu Switchgear
XD
Wecome
TGOOD
HEAG
CTCS
Sunrise
SHVS
In Market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
In Market segmentation by types :
Low Voltage Switchgear
Medium Voltage Switchgear
In Market segmentation by applications :
Residential
Infrastructure & Utilities
Energy
Industries
Others
The research provides answers to the following key questions:
• What is the estimated growth rate and Market share and size of the LV and MV Switchgear Market for the forecast period 2023 - 2030?
• What are the driving forces in the LV and MV Switchgear Market for the forecast period 2023 - 2030?
• Who are the prominent Market players and how have they gained a competitive edge over other competitors?
• What are the Market trends influencing the progress of the LV and MV Switchgear industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the Market hold for the prominent Market players?
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Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.
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