While the potential growth of the switchgear space will be a boon to manufacturers of the product worldwide, the market will be rocked somewhat by upcoming Asian manufacturers posing challenges to established ones. In the Chinese high-voltage switchgear market, established international players face tough competition from the local manufacturers, which together account for almost 85% of the market. Even in India, domestic manufacturers hold a significant share of the market in the medium- and low-voltage segments. The presence of so many manufacturers in the arena, particularly in the Chinese and Indian markets, will induce intense competition and huge pricing pressures.
GlobalData’s Switchgear Market for Power Industry, Update 2015 – Global Market Size, Equipment Market Share and Key Country Analysis to 2020 report provides analysis of the global switchgear market, with annualized market data from 2006 and forecast to 2020, with a particular focus on the US, Canada, China, India, the UK, Italy and Saudi Arabia.
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