Harrisburg, NC -- (SBWIRE) -- 10/22/2020 -- Switchboards Global Market Report 2020
The switchboard market consists of sales of switchboards and related services for distribution of electricity from one electrical source to another electrical source. Switchboards refers to the power distribution process system which consists of panels with different switches and indicators to direct and control electricity for functioning in circuits.
The switchboard market covered in this report is segmented by type into low-voltage, middle-voltage, high-voltage. It is also segmented by end-user into industrial, residential, commercial, other.
The global switchboard market was worth $ 71.83 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 8% and reach $95.78 billion by 2023.
Top Leading Companies mentioned are
ABB, Mitsubishi Electric, Schneider Electric, Emerson Process Management, Rockwell Automation, Siemens, Powerwell, GEDAC ELECTRIC, Kounis, Aussie Switchboards
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Increasing manufacturing efficiency of products for longer durability increases demand for the switchboards. Major companies are highly focusing on innovations to design switchboards. Incorporation of new technologies within the production tends to improve its efficiency and service life of the products. For instance, in 2018, the Shanghai municipal government and ABB signed a memorandum and invested about $2.4 billion in China for upgradation of functionality in building smart city with smart manufacturing for efficient and safe connectivity in Shanghais local enterprises. Increase in efficiency drives the demand for switchboard, thereby contributing to the growth of the market.
The rising prices of raw materials is expected to limit the growth of the switchboard market. The volatility of prices in raw materials such as copper, aluminum and steel is expected to have a significant impact on manufacturing cost of switchboards increasing the expenses of manufacturers. For instance, in 2018, Schneider Electric predicted high prices of raw materials owing to high input costs due to new import tariffs in the USA and China impacting the company's business and bottom line.
News and Latest Developments:
In July 2018, ABB, a Switzerland-based automation company acquired GE Industrial Solutions for $2.6 billion. With this acquisition, ABB aimed to become market leader in electrification and expanding its footprint in the North American market. GE Industrial Solutions is a USA-based company that specializes in designing and selling electrical solutions such as circuit breakers, switchgear, components for lighting control and power supply equipments.
Essential points covered in Global Switchboards Market2020 Research are:-
What will the market size and the growth rate be in 2020?
What are the key factors driving the global Switchboards market?
What are the key markets trends impacting the growth of the global Switchboards market?
What are the challenges to market growth?
Who are the key vendors in the global Switchboards market?
What are the market opportunities and threats faced by the vendors in the global Switchboards market?
What are the key outcomes of the five forces analysis of the global Switchboards market?
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This independent 300 page report guarantees you will remain better informed than your competition. With over figures examining the Switchboards market, the report gives you a visual, one-stop breakdown of the leading products, submarket and market leader's market revenue forecasts as well as analysis to 2020.
Geographically, this report is segmented into several key Regions, with Sales, revenue, Market Share (%) and Growth Rate (%) of Switchboards in these regions, from 2014 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Furthermore, the report provides a detailed analysis of the global Switchboards market with analysis of market size by value and volume. Along with this, an analysis of penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Switchboards market by countries, comprising of its market by value, volume, and ARPU and penetration rate.
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Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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Identify growth segments for Switchboards.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market research findings.
Benchmark performance against key competitors.
Utilize the relationships between key data sets for superior strategizing.
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The research includes historic data from 2014 to 2020 and forecasts until 2020 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Switchboards on the basis of stating current situation of the industry in 2020 so as to make comprehensive organization and judgment on the competition situation and development trend of Switchboards Market and assist manufacturers and Switchboards organization to better grasp the development course of Switchboards Market.
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