The report, now available on ASDReports, recognizes the following companies as the key players in the Global Medium and Low Voltage Switchgear Market: ABB, Alstom, Eaton, Schneider Electric and Siemens
Other Prominent Vendors in the market are: BHEL, Crompton Greaves, Hyosung Power and Industrial Systems, Mitsubishi Electric, OJSC Power, and Xian XD.
Commenting on the report, an analyst said: “The generation of power by offshore wind power installations is growing day by day. This particular trend is becoming popular off Northern Europe, especially in areas such as the North Sea, the Baltic and Irish Seas, and the English Channel, and accounts for more than 91% of the world’s offshore wind power generation.”
According to the report, the capacity of a switchgear is determined by the level of transmission voltage in a T&D network, among other design factors. Owing to these factors, companies are adopting made-to-order manufacturing, where manufacturers customize product designs as per the requirements of customers.
Further, the report states that lack of product differentiation has a negative impact on the growth of the global LV and MV switchgears market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.