Paralleling
Switchgear Market Overview
Paralleling switchgear is a combination of metering,
control & switching and protection elements acting as an integrated system
to control the distribution of power for emergency systems, standby systems,
critical operation power systems (COPS), and optional standby systems.
A paralleling switchgear is designed and manufactured
to deliver full control of custom-configured power generation systems. A
paralleling switchgear integrates all facets of metering, protection,
communication and controls to deliver peak performance, system reliability and
operating economy. Increasing share of distributed power generation, maturing
and overloading of power grids, and investment in industrial, commercial and
utilities sectors are the major factors driving the paralleling switchgear
market during the forecast period. However, cost constraint and complexity in
control system are predicted to hinder the market growth over the forecast
period.
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Global
Paralleling Switchgear Industry Segmentation
The global paralleling switchgear market has been
segmented based on voltage, application, end-use and region. Based on voltage,
the market is segmented into low voltage, and medium voltage. By application,
the market is segmented into prime, standby and peak shave. Based on end-use,
the market is segmented into commercial, industrial, utilities and others. The
paralleling switchgear market is projected to have enormous developments over
the forecast period owing to continuous technological advancement in energy
sector tied with rising power demand. The market is also likely to have huge
expansion activities by global and well-established firms. Mergers and
acquisition activities are anticipated to be seen during the forecast period
with several contracts and agreements among the top EPC contractors and
Governments across the globe.
The global paralleling switchgear market is expected
to grow at ~ 5.5% CAGR during the forecast period.
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Asia
Pacific Paralleling Switchgear market, expected to grow at the highest CAGR
The global paralleling switchgear market is segmented
into four prominent regions of Asia Pacific, North America, Europe and Rest of
the World. Asia Pacific region is projected to expand at the highest CAGR over
the forecast period. This growth is accredited to industrialization &
urbanization and upsurge in renewable power generation capacity in the region.
Prominent countries such as China, Japan and India are propelling the paralleling
switchgear market in the Asia Pacific region. North America and Europe held a
considerable market share in 2016 and are anticipated to witness a stagnant
growth over the forecast period. This growth is prominently attributed to a
rise in conventional and non-conventional power plant. Also, industrialization
has led to forming a productive market for the paralleling switchgear.
Leading
Players
The key players of global paralleling switchgear
market are General Electric Company (U.S.), Caterpillar Inc. (U.S.), Cummins
Inc. (U.S.), Rolls-Royce (MTU Onsite Energy) (U.K.), and Kohler Co. (U.S.).
Pioneer Power Solutions. (U.S.), Regal Beloit Corporation (U.S.), Schneider
Electric SE. (France), Advanced Power Technologies. (U.S.), Enercon
Engineering, Inc. (U.S.), Industrial Electric Mfg (U.S.), and Russelectric Inc.
(U.S.) are among others.
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