Research and Markets (http://www.researchandmarkets.com/research/bf5n6r/global_high) has announced the addition of the "Global High Voltage Switchgear for AC Transmission System Market 2012-2016" report to their offering.
The analysts forecast the Global High Voltage Switchgear for AC Transmission System market to grow at a CAGR of 7.89 percent over the period 2012-2016. One of the key factors contributing to this market growth is the rapid global industrialization. The market has also been witnessing an increased steady adoption of innovative high voltage switchgear from conventional high voltage switchgear. However, the declining profit margin of vendors could pose a challenge to the growth of this market.
The key vendors dominating this space include ABB Ltd., Alstom SA, and Siemens AG.
The other vendors mentioned in the report are Bharat Heavy Electricals Ltd., Crompton Greaves Ltd., Eaton Corp., Hyosung Corp., GE Co., Mitsubishi Electric Corp., OJSC Power Machines, and Xian XD switchgear Electric Co. Ltd.
Commenting on the report, an analyst from the Engineering team said: The steady shift from conventional high-voltage switchgear to innovative high-voltage switchgear is one of the major trends in the Global High-voltage Switchgear market for AC Transmission System. Conventional air-insulated high-voltage switchgear includes various components including circuit breakers, current transformers, and disconnectors as separate parts. These components need an individual installation space, which makes the installation of these components very complex. However, innovative high-voltage switchgear overcome these issues by integrating these functions into the breaking chamber of the circuit breaker, which results in easy installation and optimization of the overall operational cost.
According to the report, rapid industrialization across the globe is one of the major factors driving the growth of the Global High-voltage Switchgear market for AC Transmission System. Several developed and developing countries such as India, China, Japan, Brazil, and Taiwan are going through an industrialization phase. Post global economic recession, the governments of these countries have implemented several initiatives to improve their infrastructure.Thus, increasing industrialization and urbanization are driving the demand for electricity across the globe. In addition, the growing electricity demand globally is resulting in an increase in installed power generation capacity, which necessitates the expansion of existing power transmission networks across the globe, which in turn is driving the Global High-voltage Switchgear market for AC Transmission System.
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