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North America Switchgear Market to Register Over 5.4% Share in 2025

Author : Rahul Sankrityayan | Published Date : 2019-09-16 

Global Market Insights, Inc., announces a report on North America Switchgear Market Trends & Forecast - 2025.' The study encompasses an elaborate analysis of the product, application, and regional trends in the industry.

North America Switchgear Market share is anticipated to exceed USD 25 billion by 2025. Increasing expenditure toward electrical infrastructure development in line with government measures for the expansion of power grid network across rural areas will stimulate the North America switchgear market share.

Moreover, substantial growth in electricity consumption along with growing concern toward the advancement of existing power grid infrastructure will stimulate the business outlook.

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Medium voltage and high voltage switchgear markets are predicted to witness significant growth on account of rampant commercial and industrial developments. Enhancement of T&D networks along with wide product application across distribution networks will further augment the North America switchgear market.

Vacuum insulated switchgear market will observe growth owing to flexible power frequency variations and high impulse voltage withstanding ability. Noise & pollution free operation coupled with ease of actuation will further boost the product deployment across the region.

The commercial & residential applications accounted for over 20% of the North America switchgear market. Sustainable infrastructure development backed by favorable government policies along with expansion of urban areas will propel the industry landscape. Smart control networking development favored by integration of distributed generation sources will further complement the product deployment.

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Indoor switchgear market is anticipated to grow at a rate of 5% by 2025. Flourishing real estate sector owing to rising private and public investments will augment the industry scenario. Increasing space constraints along with shifting inclination toward energy efficient power distribution infrastructure will further stimulate the product deployment.

Shifting focus toward packaged switchgear technology along with custom-made product specifications for flexible applications have instituted a competitive industrial landscape. Efficient technological, engineering and support in line with quick lead time will further stimulate the North America switchgear market.

Eminent participants covering the major share of North America switchgear market consist of Schneider Electric, Mitsubishi Electric Systems, ABB, Crompton Greaves, Toshiba, Siemens AG, Ormazabal, Hyosung, Fuji Electric, GE, Iljin Electric, Eaton, BHEL, Lucy Electric, Powell Industries, Hitachi Ltd., Larson & Turbo, Meidensha Corporation, Hubbell, and Rittal.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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