Thursday 11 June 2015, Amsterdam
The report, now available on ASDReports, recognizes the following companies as the key players in the global switchgear market: ABB, Alstom Grid, GE, Schneider Electric and Siemens
Other Prominent Vendors in the market are: BHEL, Crompton Greaves, Eaton, Hyosung Power and Industrial Systems, Mitsubishi Electric, OJSC Power and Xian XD
Commenting on the report, an analyst said: “The steady shift from conventional switchgear to innovative modular switchgear is one of the major trends in the market. Conventional air-insulated switchgear includes various components such as circuit breakers, current transformers, and disconnectors. These components need individual installation spaces, which makes the installation of these components very complex. However, innovative modular switchgear overcomes these issues by integrating these functions into the breaking chamber of the circuit breaker, which results in easy installation and optimizes overall operational costs.”
According to the report, the cumulative demand from replacement activities is one of the major factors driving the market. Several electric utilities and non-utility generators are replacing old equipment such as T&D transformers, switchgears, circuit breakers, and pole and line hardware, with technically advanced T&D equipment. The use of legacy T&D equipment leads to huge power losses, thereby reducing overall organizational productivity and hiking operational costs. However, the effective deployment of the latest T&D equipment enables electricity providers to improve their operational productivity. In addition, the modernization of an existing plant not only increases the lifecycle of the plant, but also helps reduce overall maintenance, repair, and overhaul expenses.
Further, the report states that vendors operating within the market are observing a slow decline in their profit margins due to the fluctuating prices of raw materials.
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.