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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