MARKET INTRODUCTION
Paralleling switchgear is a combination of protection, metering, control, and switching elements integrated into a system. PSG controls the distribution of power for emergency systems, critical operation power systems, and standby systems. The demand for paralleling switchgear in the Asia Pacific region is likely to experience major thrust on account of rapid population growth and subsequent energy demands. Ongoing projects for rejuvenation of aging utility infrastructure and investments in the renewable energy sector further provide a positive outlook for the major players of the paralleling switchgear market.
MARKET DYNAMICS
The global paralleling switchgear market is projected to grow in the forecast period owing to driving factors such as the rising demand for reliable and uninterrupted power supply, coupled with aging and overburdened power grid in developed nations. However, complexity in the control system is likely to hinder the growth of the paralleling switchgear market during the forecast period. On the other hand, emerging opportunities for distributed generation would showcase significant growth prospects for the paralleling switchgear market in the coming years.
MARKET SCOPE
The "Global Paralleling Switchgear Market Analysis to 2028" is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The report aims to provide an overview of paralleling switchgear market with detailed market segmentation by transmission, voltage, application, application, end user and geography. The global paralleling switchgear market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading paralleling switchgear market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global paralleling switchgear market is segmented on the basis of transmission, voltage, application, and end user. By transmission, the market is segmented as open transition and closed transition. Based on voltage, the market is segmented as low voltage and medium voltage. On the basis of the application, the market is segmented as standby, prime, and peak shave. The market on the basis of the end user is classified as commercial and industrial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global paralleling switchgear market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The paralleling switchgear market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting paralleling switchgear market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the paralleling switchgear market in these regions.
MARKET PLAYERS
The reports cover key developments in the paralleling switchgear market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from paralleling switchgear market are anticipated to lucrative growth opportunities in the future with the rising demand for paralleling switchgear in the global market. Below mentioned is the list of few companies engaged in the paralleling switchgear market.
The report also includes the profiles of key paralleling switchgear companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- ABB Ltd.
- Advanced Power Technologies
- Caterpillar Inc.
- Cummins Inc.
- Enercon Engineering, Inc.
- IEM (INDUSTRIAL ELECTRIC MFG)
- Kohler Co.
- Rolls-Royce Power Systems AG
- Schneider Electric SE
- Siemens AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.