Lewes, DE -- (SBWIRE) -- 06/10/2015 -- Report forecast the global switchgear market to grow at a CAGR of 10.71% over the period 2015-2019.

A switchgear is defined as a combination of the following components:
- Electrical disconnect switches
- Circuit breakers
- Protective relays
- Other components such as disconnectors, busbars, enclosures, and fuses

The use of switchgears enables the continuous transfer of electric current and protection against current overload, short circuit, and insulation failure. It provides safe isolation from current-driven parts and modifies a load-carrying system at each level of installation. Switchgears are divided into three types based on load-bearing capacity: low-voltage switchgears, medium-voltage switchgears, and high-voltage switchgears.

Switchgears are used across sectors such as power utility, industrial, residential, and commercial. Low-voltage and medium-voltage switchgears are used in industries such as oil and gas, pulp and paper, as well as in residential premises apart from power utilities. High-voltage switchgears are mainly used in power utilities. High-voltage switchgears are classified as air-insulated switchgear, gas-insulated switchgear, oil-insulated switchgear, and vacuum-insulated switchgears.

This report covers the present scenario and the growth prospects of the global switchgear market during the period 2015-2019. For ascertaining the market size and vendor share, the report considers revenue generated from the sales of switchgears.

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.

The Global Switchgear Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

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

Market Driver
- Renovation and Expansion of T&D Network
- For a full, detailed list, view our report

Market Challenge
- Declining Profit Margins of Vendors
- For a full, detailed list, view our report

Market Trend
- Transition from Conventional to Innovative Modular Switchgears
- For a full, detailed list, view our report

Key Questions Answered in this Report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this 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 key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 82 pages, "Global Switchgear Market 2015-2019" report covers Executive Summary, List of Abbreviations, Scope of the Report, Market Research Methodology, Introduction, Market Landscape, Market Segmentation by Voltage Type, Market Segmentation by End-users, Geographical Segmentation, Key Leading Country, Buying Criteria, Market Growth Drivers, Drivers and their Impact, Market Challenges, Impact of Drivers and Challenges, Market Trends, Trends and their Impact, Vendor Landscape, Key Vendor Analysis.

For further information on this report, please visit- http://www.marketresearchreports.com/technavio/global-switchgear-market-2015-2019

Find all Electricity Transmission and Smart Grids Reports at: http://www.marketresearchreports.com/electricity-transmission-smart-grids

About Market Research Reports, Inc.
Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.

For regular industry updates subscribe to our newsletter at: http://www.marketresearchreports.com/subscribe-to-newsletter