Medium Voltage Switchgear Market:
WiseGuyReports.com adds “Medium Voltage Switchgear Global Market Report 2020-30” reports to its database.
Executive Summary
The global medium voltage switchgear market was worth $20.58 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 10.89% and reach $31.12 billion by 2023.
The medium voltage switchgear market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America, Middle East and Africa. In 2019, Asia-Pacific was the largest region in the medium voltage switchgear market.
The medium voltage switchgear market consists of sales of medium voltage switchgear and related services that manufacture medium voltage switchgear which are electrical switchgear rated between 2KV and 36KV. The medium voltage switchgear is the combination of electrical switches, fuses or circuit breakers used to operate, secure and separate electrical equipment.
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The medium voltage switchgear market covered in this report is segmented by insulation into air, gas, oil, vacuum. It is also segmented by installation into outdoor, indoor and by application into residential, commercial, industrial, utility.
Stringent environment and safety regulations in the manufacturing of medium voltage switchgear is hindering the market’s growth. The regulations governing medium voltage switchgear is IEC 62271-200 and it specifies that all electrical characteristics must comply with standard regulations. Many companies struggle to stay with fast-changing safety standards. Sometimes they can’t bear funds to perform tasks required by the latest standards. According to IEC 62271-200 regulations, enquirers placing any order for metal-enclosed switchgear, should provide the main electrical characteristics of the system and also the service conditions if it is different from standard. Therefore, stringent environment and safety regulations are limiting the medium voltage switchgear market’s growth.
Development of eco-efficient switchgear has become an emerging trend in the medium voltage switchgear market. Eco-efficient switchgear is an alternative to greenhouse gas sulfur hexafluoride (SF6) for improved eco-efficiency and less environmental impact. Switchgear of SF6 gas is used as the electrical insulation and current interruption medium and is extremely restricted to greenhouse gas. For instance, in 2019, ABB has launched UniSec with AirPlus technology, which is completely SF6-free medium-voltage switchgear for networks up to 24kV. Therefore, a rise in the usage of eco-efficient switchgear is gaining popularity in the medium voltage switchgear market.
In April 2019, Eaton Corporation, an Irish based power management company acquired 82.27% majority stake in Ulusoy Elektrik Imalat Taahhut ve Ticaret A.S. Acquisition of Ulusoy Elektrik Imalat Taahhut ve Ticaret A.S was aimed to strengthen Eaton Corporation in manufacturing of electrical equipment. Ulusoy Elektrik Imalat Taahhut ve Ticaret A.S, a Turkey-based company, is in the manufacturing of medium-voltage switchgear, medium-voltage distribution transformers, substation kiosks, and medium-voltage cable connection systems.
The demand for electricity generation is projected to drive the medium voltage switchgear market. Development of industrialization, urbanization requires continuous electricity supply, and the reliability of the electrical supply depends heavily on the performance of the switchgear. Production of energy is sustainable growth with demand in rural and urban areas with ongoing improvements to the integration of protection of supply, which will drive industry growth. For instance, in 2019, as per a research study, the Indian government is working on two of the most vital electrification projects that are the ‘Pradhan Mantri Sahaj Bijli Har Ghar Yojana’ and the ‘Deen Dayal Upadhyaya Gram Jyoti Yojana’ to provide electricity with a budget allocation of $6.98 billion (INR 50,000 crores) for the project.
Major players in the medium voltage switchgear market are Siemens AG, Schneider Electric SE, Eaton Corporation Plc., Mitsubishi, Hyundai Heavy Industries, ABB, Bharat Heavy Electricals Limited, Hyosung Heavy Industries, General Electric, Powell.
Continuous…
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Medium Power Transformers Market:WiseGuyReports.com adds “Medium Power Transformers Global Market Report 2020-30” reports to its database.Executive SummaryThe global medium power transformers market was worth $77.37 billion in 2019.
In 2019, Asia-Pacific was the largest region in the medium power transformers market.The medium power transformers market consists of sales of medium power transformers.
Medium power transformers are used in lowering voltages to the level required and are eligible for voltage regulations.
These types of transformers are mostly used in the manufacturing and construction industries.
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They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization.
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Market Highlights A medium-voltage cable is a cable with a voltage rating of above 1kV up to 100 kV.
The growing areas of application of the medium voltage cables, is due to its low cost, high operational efficiency, improved system stability, proper load distribution between circuits, easy and quick installation and convenient virtual deployment of medium voltage cables, anywhere in the power network.
The global medium voltage cables market is driven by the increasing need for reliable electric supply & subsequent investment in transmission & distribution network, grid expansion, and developing safe electrical infrastructure.
Medium-voltage cables are widely accepted across the world in the industrial & commercial sectors as a reliable & safe method to supply electricity.
However, fluctuating material costs may restrain the global medium voltage cables market.
The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
