Switchgear And Switchboard Apparatus Industry Driven By Electricity Generation Needs

Switchgear And Switchboard Apparatus Global Market Report 2021: COVID 19 Impact And Recovery To 2030

The Business Research Company's Switchgear And Switchboard Apparatus Global Market Report 2021: COVID-19 Impact and Recovery to 2030

LONDON, GREATER LONDON, UK, May 6, 2021 /EINPresswire.com / -- Demand for electricity generation is projected to drive the switchgear and switchboard apparatus market. The availability of electricity has become essential for economic development and poverty alleviation. Development of industrialization, urbanization requires continuous electricity supply, and the reliability of the electrical supply depends heavily on the performance of the switchgear. Therefore, the demand for electricity generation is driving the demand for switchgear and switchboard apparatus in the forecast period. For instance, global demand for electricity rises at 2.1% per year to 2040 in the Specified Policies Scenario, double the rate of primary energy growth by 2040.

The switchgear and switchboard apparatus market consist of sales of switchgear and switchboard apparatus and related services that are used in various applications such as transmission and distribution utility, residential, commercial and industrial. A switchgear refers to collection of the switching devices that are used for controlling, protecting, and switching the electrical circuits and equipment. 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.

Read More On The Global Switchgear And Switchboard Apparatus Market Analysis:

The global switchgear and switchboard apparatus market size is expected to grow from $118.81 billion in 2020 to $131.37 billion in 2021 at a compound annual growth rate (CAGR) of 10.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $178.95 billion in 2025 at a CAGR of 8%.

Major players covered in the global switchgear and switchboard apparatus market are ABB, Schneider Electric, General Electric, Siemens, Eaton Corporation, Mitsubishi, Powell, Hyosung, CG Power and Industrial Solutions Limited, Toshiba, Bharat Heavy Electricals Ltd., Alstom SA, GEDAC ELECTRIC, Kounis, Merriam-Webster, Aussie Switchboards, Larsen & Toubro, Elektrobudowa, Hubbell, Lucy Electric, SEL, Fuji Electric, IEM, CandS Electric, CUBIC, ROMAC, Rolla, Nilsen, Leoni, Mastervolt, Hyundai.

The switchgear and switchboard apparatus market covered in this report is segmented by product type into switchboard and switchgear, by end-user into residential, commercial, industrial, and by application into industry, manufacture, others.

Switchgear And Switchboard Apparatus Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides switchgear and switchboard apparatus market overview, forecast switchgear and switchboard apparatus market size and growth for the whole market, switchgear and switchboard apparatus market segments , and geographies, switchgear and switchboard apparatus market trends, switchgear and switchboard apparatus market drivers, restraints, leading competitors' revenues, profiles, and market shares.

Request For A Sample Of The Global Switchgear And Switchboard Apparatus Market Report:

Here Is A List Of Similar Reports By The Business Research Company:
Power Generation, Transmission And Control Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030

Switchgear Market - By Type Of Product (Low Voltage, Medium Voltage, High Voltage), By End User (Industrial, Utilities, Residential, Commercial, Switchgear), Market Size, Major Players, By Region, Opportunities And Strategies - Global Forecast To 2023

General Electronic Components Global Market Report 2021: COVID-19 Impact and Recovery to 2030

Interested to know more about The Business Research Company?
Read more about us at

The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research. It has over 200 research professionals at its offices in India, the UK and the US, as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services and technology.

Call us now for personal assistance with your purchase:
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293

Oliver Guirdham
The Business Research Company
+44 20 7193 0708

Visit us on social media:
Facebook
Twitter
LinkedIn

MENAFN06052021003118003196ID1102039234