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. Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19
on Paralleling Switchgear Market
is included in the present report.
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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