The global Paralleling Switchgear market garnered earnings worth approximately 1.5 (USD Billion) in 2019 and is set to record a CAGR of over 6% over the period from 2020 to 2026. The report offers assessment and analysis of the Paralleling Switchgear market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Introduction
Paralleling switchgear is an integration of metering, protection, controlling, and switching elements acting as a combined tool for regulating power distribution for critical operation power systems, emergency systems, optional standby systems, and legally required standby systems. Furthermore, paralleling switchgear comprises of breaker sections as well as control sections. Both these sections can be combined into a single line-up or also deployed individually. Moreover, these switchgears can either be of lower voltage or medium voltage. The End-Users of paralleling switchgear include generators, utility circuits, feeder circuits, engine governor controller, voltage regulator, SR489, SR750, Master medium voltage, GE Multiline PQMII meter, Engine Governor Controller, Voltage Regulator, HMI, ammeters, wattmeters, voltmeters, annunciators, and 24VDC.
Details of the Report:
|
Report Metric |
Details |
|
Base Year |
2019 |
|
Historical Data |
2017 and 2018 |
|
Forecast period |
2020-2026 |
|
Market Representation |
Earnings provided in terms of USD Billion and CAGR estimated from 2020 to 2026 |
|
Segments Analyzed |
By End-User, By Voltage, By Transition Type, By Application, and By Region |
|
Regions Analyzed |
North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa |
Market Growth Dynamics
Consistent technological breakthroughs across the energy sector along with the escalating demand for power supply will prompt the business trends. Large-scale investments in distributed power production and aging of electric grids will elevate the growth of paralleling switchgear industry over the forecast timeline. Apart from this, paralleling switchgear have huge demand across various end-use sectors like data centers, hospitals, and construction.
Furthermore, escalating need for critical power by utilities will elevate the market demand over the forecast timeline. Growing use of paralleling switchgear in oil & gas, construction, mining, and telecom sectors in Asia Pacific, Europe, and the Middle East will propel the growth of paralleling switchgear industry over the years to come.
Asia Pacific Market To Continue Market Domination Over 2020-2026
The growth of the paralleling switchgear market in the Asia Pacific region over forecast timeline is attributed to rise in the funding activities for improving the public infrastructure facilities in the countries like India, China, and South-eastern countries. Apart from this, a surge in the industrial activities witnessed across the emerging economies of the Asia Pacific zone will elicit the expansion of the regional market in the near future.
Key players profiled in the report include Kohler, Caterpillar, Cummins, GE, and Schneider Electric.
The global paralleling switchgear market is segmented as follows:
By Application
- Prime
- Standby
- Peak shave
By Transition Type
- Open Transition
- Closed Transition
By Voltage Type
- Low Voltage
- Medium voltage
By End User
- Industrial
- Utilities/Power Generation
- Oil & Gas
- Others
- Commercial
- IT & Telecom
- Healthcare
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The key growth drivers that will steer the market growth include large-scale investments in distributed power production and aging of electric grids.
The CAGR of the industry is expected to be over 6% during the forecast timespan.
Asia Pacific region will contribute remarkably towards the global market revenue over the estimated timeline.
