Market outlook of the LV and MV switchgear market
Technavio research analyst predicts the global LV and MV switchgear market to grow steadily at a CAGR of around 10% during the forecast period. Expansion and renovation of T&D projects globally are the primary growth drivers for this market. The growing demand for electricity has resulted in a manifold increase in the number of new T&D setups.
Currently, the market is witnessing a shift from conventional to innovative modular switchgear devices. The conventional air-insulated switchgear (AIS) consists of components such as circuit breakers, disconnectors, and current transformers that are difficult to install as they require individual installation spaces. On the other hand, modular switchgear integrates all the functions into the breaking chamber of the circuit breaker. Further product innovation and ease of installation are likely to provide a significant impetus to this market over the next four years.
Product segmentation and analysis of the LV and MV switchgear market
LV switchgear
MV switchgear
The LV switchgear segment dominated the market in 2015. Aging infrastructure, capacity expansion, and demand for energy-efficient switchgear are the main factors fueling the demand for LV switchgear among consumers. LV switchgear has a load-bearing capacity of less than 1.1 kV, and it is used in infrastructure, power and energy, T&D, and other industrial, commercial, and residential sectors. In addition, the affordable pricing of LV switchgear makes it a preferred choice among end-users.
Segmentation by end-users and analysis of the LV and MV switchgear market
Power utilities
Industrial sector
Residential sector
Commercial and infrastructure sector
The power utility segment accounted for almost 34% of the market share during 2015. The demand for electricity owing to an increase in industrialization and urbanization in developing countries will continue to drive the market for LV and MV switchgear in power utilities.
Geographical segmentation and analysis of the LV and MV switchgear market
APAC
North America
Europe
ROW
The increased scale of power grid construction and the expansion of renewable energy capacity in the emerging countries of the APAC region has increased the sale and future demand for switchgear. It is expected to have a positive impact on the growth of the LV and MV switchgear market during the forecast period.
Competitive landscape and key vendors
The global LV and MV switchgear market is capital-intensive with the presence of many global and local manufacturers. The vendors in the market compete on the basis of price, quality, innovation, service, distribution, and customization.
The leading vendors in the market are -
ABB
Alstom
Eaton
Schneider Electric
Siemens
Other prominent vendors in the market include BHEL, Crompton Greaves, Hyosung Power and Industrial Systems, Mitsubishi Electric, OJSC Power, and Xian XD.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global LV and MV switchgear market?
What are the key market trends impacting the growth of the LV and MV switchgear market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global LV and MV switchgear market?
Trending factors influencing the market shares of the APAC, North America, Europe, and the ROW.
What are the key outcomes of the five forces analysis of LV and MV switchgear market?
Technavio also offers customization on reports based on specific client requirement.
Related reports:
Global Switchgear Market 2015-2019
Switchgear Market in China 2015-2019
Global Gas Insulated Switchgear Market 2014-2018
Global Low Voltage Switchgear Market 2014-2018
Table of Contents
PART 01: Executive summary
Highlights
PART 02: Scope of the report
Market overview
Top-vendor offerings
PART 03: Market research methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Market overview
Five forces analysis
PART 06: Global LV and MV switchgear market by voltage
Global LV switchgear market
Global MV switchgear market
PART 07: Market segmentation by end user
Global LV and MV switchgear market by power utilities
Global LV and MV switchgear market by industrial segment
Global LV and MV market by residential segment
Global LV and MV switchgear market by commercial segment
PART 08: Geographical segmentation
LV and MV switchgear market in APAC
LV and MV switchgear market in North America
LV and MV switchgear market in Europe
LV and MV switchgear market in ROW
PART 09: Market drivers
Rise in T&D expansion and renovation projects
Growing investment in smart grid networks
Expansion of power capacities
PART 10: Impact of drivers
PART 11: Market challenges
Lack of product differentiation
Rise in R&D expenditure
Government regulations and industry standards
PART 12: Impact of drivers and challenges
PART 13: Market trends
Shift from conventional to innovative modular switches
Decreasing prices of raw materials
Increase in offshore wind energy generation
PART 14: Vendor landscape
Other prominent vendors
PART 15: Key vendor analysis
ABB
Alstom
Eaton
Schneider Electric
Siemens
PART 16: Appendix
List of abbreviations
PART 17: Explore Technavio
List of Exhibits
Exhibit 01: Segmentation of global LV and MV switchgear market
Exhibit 02: Segmentation of global LV and MV switchgear market by voltage
Exhibit 03: Segmentation of global LV and MV switchgear market by end-user
Exhibit 04: Segmentation of global LV and MV switchgear market by geography
Exhibit 05: Product offerings
Exhibit 06: Switchgear components
Exhibit 07: Segmentation of global switchgear market by voltage 2015 and 2020
Exhibit 08: Global LV and MV switchgear market 2015-2020 ($ billions)
Exhibit 09: Five forces analysis
Exhibit 10: Global LV and MV switchgear market by voltage 2015-2020
Exhibit 11: Global LV switchgear market 2015-2020 ($ billions)
Exhibit 12: Global MV switchgear market 2015-2020 ($ billions)
Exhibit 13: Global MV switchgear market by insulation medium 2015
Exhibit 14: Merits and demerits of GIS
Exhibit 15: Global LV and MV switchgear market by end-user 2015-2020
Exhibit 16: Global LV and MV switchgear market by power utilities 2015-2020 ($ billions)
Exhibit 17: China upcoming nuclear reactors (MW)
Exhibit 18: Global energy consumption share 2014
Exhibit 19: Global energy-capacity expansions: Average annual growth rate 2014 (%)
Exhibit 20: Global LV and MV switchgear market by industrial segment 2015-2020 ($ billions)
Exhibit 21: Global LV and MV market by residential segment 2015-2020 ($ billions)
Exhibit 22: Residential construction market in China 2015-2020 ($ billions)
Exhibit 23: Global LV and MV switchgear market by commercial segment 2015-2020 ($ billions)
Exhibit 24: Global LV and MV switchgear by geography 2015-2020
Exhibit 25: LV and MV switchgear market in APAC 2015-2020 ($ billions)
Exhibit 26: LV and MV switchgear market in North America 2015-2020 ($ billions)
Exhibit 27: LV and MV switchgear market in Europe 2014-2020 ($ billions)
Exhibit 28: LV and MV switchgear market in ROW 2015-2020 ($ billions)
Exhibit 29: Global smart grid market 2014-2019 ($ billions)
Exhibit 30: Growth of urban population in India (millions)
Exhibit 31: Growth of urbanization in Brazil (%)
Exhibit 32: Impact of drivers
Exhibit 33: Global LV and MV market: Organized and unorganized sectors
Exhibit 34: Impact of drivers and challenges
Exhibit 35: Price trend of stainless steel 2014-2015 ($/ton)
Exhibit 36: Price variation in stainless steel ($/ton)
Exhibit 37: Global offshore wind capacity 2014-2019 (MW)
Exhibit 38: ABB: Business segmentation by revenue 2014
Exhibit 39: ABB: Business segmentation by revenue 2013 and 2014 ($ billions)
Exhibit 40: ABB: Geographical segmentation by revenue 2014
Exhibit 41: Alstom: Business segmentation by revenue 2015
Exhibit 42: Alstom: Business segmentation by revenue 2014 and 2015 ($ millions)
Exhibit 43: Alstom: Geographical segmentation by revenue 2015
Exhibit 44: Eaton: Business segmentation by revenue 2014
Exhibit 45: Eaton: Business segmentation by revenue 2013 and 2014 ($ billions)
Exhibit 46: Eaton: Geographical segmentation by revenue 2014
Exhibit 47: Schneider Electric: Business segmentation by revenue 2014
Exhibit 48: Schneider Electric: Business segmentation by revenue 2013 and 2014 ($ billions)
Exhibit 49: Schneider Electric: Geographical segmentation by revenue 2015
Exhibit 50: Siemens: Business segmentation by revenue 2014
Exhibit 51: Siemens: Business segmentation by revenue 2013 and 2014 ($ billions)
Exhibit 52: Siemens: Geographical segmentation by revenue 2014
