By 2026, North America Medium Voltage Switchgear Market to Dominate Worldwide

Published Date: 2020-02-04

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According to the Graphical Research new growth forecast report titled “North America Medium Voltage Switchgear Market Size By Application (Residential, Commercial {Healthcare, Hospitality, Offices, Retail, Education, Others}, Industrial {Power, Oil & Gas, Railways, Arc furnace, Manufacturing & Processing Industries, Others}, Utility), By Component (Circuit Breakers, Contactors, Switches & Disconnector, Fuses, Others), By Installation (Indoor, Outdoor), By Insulation (Air, Gas, Oil, Vacuum, Others), By Enclosure (Metal {Indoor, Outdoor}, Non Metal {Outdoor}), By Voltage (3 kV to 9 kV, > 9 kV to 15 kV, > 15 kV to 21 kV, > 21 kV to 27 kV, > 27 kV to 33 kV, > 33 kV), By End-Use (Power Stations, Transformer Substations, Local Electricity Supply, Others), Industry Analysis Report, Country Outlook (U.S., Mexico, Canada, Panama, Guatemala), Application Potential, Competitive Market Share & Forecast, 2020 – 2026”, Estimated to Flourish During 2020-2026.

North America Medium Voltage Switchgear Market is projected to witness growth on account of increasing electricity demand and integration of energy efficient transmission network. Increasing customer concern toward health, electrical supply faults and fire will positively influence the business landscape. In addition, wide scale utilization in power stations and transformer units coupled with adoption of smart technologies will strengthen the product adoption.

Expansion of micro grids along with refurbishment of existing electrical network will fuel the Canada medium voltage switchgear market. Increasing electrification rate has driven new investments in distribution and transmission sector which in turn will drive the industry growth. Stringent government norms focusing toward security, grid stability and reliability along with increasing demand for cost competitive products will boost the business landscape.

Ongoing commercialization along with rising infrastructural investments primarily across the developing economies including Mexico will propel the industry outlook. Shifting inclination toward electricity supply faults and shortage of effective infrastructure will complement the business landscape. Wide range applications across railway traction, conventional & digital substations and arc furnace will boost the product size.

Integration of smart grid coupled with digitalization of data centers and communication base stations will augment the product penetration. Low cost, safe & reliable operations and ease of installation when compared to its competitive counterparts are some of the vital parameters which will encourage the technological adoption. Flexible product specifications including less heat generation and low failure rates will stimulate the industry outlook.

Large-scale integration of power generation technologies and expansion of utility aided distribution network will boost the outdoor medium voltage switchgear market. Enhancement and refurbishment of small-scale industries across the region will drive the product penetration. The key advantages including secure operation, versatility and aesthetic proximity will complement the business landscape.

Expansion of residential establishment along with growing concern toward uninterrupted power supply and voltage fluctuation will foster the business growth. Digitalization of power utilities along with refurbishment of prevailing network will boost the technology adoption. The private and public organizations are investing aggressively toward refurbishment and expansion of electricity network which will positively influence the business landscape.

Metal enclosed medium voltage switchgear market is projected to grow on account of secure operation, ease of replacement and anti-leakage configurations. Increasing deployment and expansion of utility-based distribution networks inclined with upsurge in on-site generation systems will amplify the product adoption. Less heat generation, quick fault response time and low maintenance cost when compared to its alternatives will drive the business growth.

Eminent industry participants across the North America medium voltage switchgear market include Siemens, ABB Group, Crompton Greaves, General Electric, Mitsubishi Corporation, Schneider Electric, BHEL, Chint Group, Ormazabal, Hyosung, Lucy electric, Hyundai Heavy Industries, Toshiba, Eaton, and Powell. Acquisitions, new product portfolio and geographical expansion are the few strategies implemented by the companies to gain competitive advantage.