Global Medium Voltage Switchgear Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends

4 Jan, 2021

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The global medium voltage switchgear market was worth $20.58 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 10.89% and reach $31.12 billion by 2023. The demand for electricity generation is projected to drive the medium voltage switchgear market.

The medium voltage switchgear market consists of sales of medium voltage switchgear and related services that manufacture medium voltage switchgear which are electrical switchgear rated between 2KV and 36KV. The medium voltage switchgear is the combination of electrical switches, fuses or circuit breakers used to operate, secure and separate electrical equipment.

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The global medium voltage switchgear market is further segmented based on insulation, installation, application and geography.
By Insulation: Air, Gas, Oil, Vacuum.
By Installation: Outdoor, Indoor.
By Application: Residential, Commercial, Industrial, Utility.
By Geography: The global medium voltage switchgear market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the Asia-Pacific medium voltage switchgear market was the largest region in the global medium voltage switchgear market 2019.

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Trends In The Medium Voltage Switchgear Market
Development of eco-efficient switchgear has become an emerging trend in the medium voltage switchgear market. Eco-efficient switchgear is an alternative to greenhouse gas sulfur hexafluoride (SF6) for improved eco-efficiency and less environmental impact. Switchgear of SF6 gas is used as the electrical insulation and current interruption medium and is extremely restricted to greenhouse gas.
Medium Voltage Switchgear Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides medium voltage switchgear market overviews, analyzes and forecasts market size and growth for the global medium voltage switchgear market, medium voltage switchgear market share, medium voltage switchgear market players, medium voltage switchgear market segments and geographies, medium voltage switchgear market’s leading competitors’ revenues, profiles and market shares. The medium voltage switchgear market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.