Technavio has announced the top five leading vendors in their recent global low and medium voltage switchgear market report from 2017-2021. This market research report also lists 14 other prominent vendors that are expected to impact the market during the forecast period.
The global low and medium voltage switchgear market is an important segment of the overall global transmission and distribution equipment market. T&D equipment primarily consists of transformers, switchgear, and power cables among other significant components that help build the entire T&D network.
“The global low and medium voltage switchgear market is steadily gaining popularity, especially in the developing regions such as APAC where land availability for constructing substations is a big challenge. Hybrid switchgear that combines air-insulated and gas-insulated switchgear in a single compact unit present a reliable solution for this challenging issue. Such factors will drive the market during the forecast period,” says Gaurav Mohindru, a lead engineering tools research analyst at Technavio.
The global low and medium voltage switchgear market is moderately fragmented, comprising a diverse group of international as well as regional vendors. The market is capital intensive; hence, the competition between vendors and new entrants in the market is likely to be low during the forecast period. Also, it is difficult for new entrants to compete with international vendors in terms of design, quality, turnaround time, services, product features, and maintenance of customer relationships.
Top five low and medium voltage switchgear market vendors:
ABB provides automation and power technologies to diverse industries, including utilities, infrastructure, transport, and other industries. ABB operates its business through various reportable segments, including power systems, power products, low voltage products, process automation, and discrete automation and motion. Some of the product offered by ABB are motor control centers, air-insulated switchgears, gas-insulated switchgear, railway switchgears, and wind switchgears.
GE is a diversified infrastructure and one among the top financial service corporations in the world. GE products and services range from oil and gas production equipment, power generation, aircraft engines, and household appliances to industrial products, medical imaging, and business and consumer financing.
Mitsubishi Electric carries out development, manufacturing, and sales of electric and electronic equipment for commercial, residential, and industrial applications. Its products find applications in broad areas that include information processing and communications, consumer electronics, space development and satellite communications, industrial technology, transportation, energy, and building equipment.
Schneider Electric engages in the manufacture and marketing of a wide range of equipment and components that are used for electricity distribution, energy management, and automation management. The company operates its business through various segments, including buildings and partner, industry, infrastructure, and IT segments.
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