Global Switchgear Monitoring System Market
The GMI Research foresees an expansion in the demand of the Switchgear Monitoring System Market over the forecast period. This is mainly due to their mounting demand as they decrease the instances of short circuits of power lines in residential, industrial, and commercial areas and the ameliorating energy demand to reduce the financial losses.
Introduction of the Market
Switchgear monitoring system refers to a system used to certify their security, prevention, and enlarged life across the electric circuits and tools. Also, the system assists in supervising various parameters like practicability of the circuit-breaker drive, solidity of the triggering system, competence of the closed circuit, and checking the condition of the primary contacts.
Key Players of the Market:
- Schneider Electric
- Koncar – Electrical Engineering Institute, Inc
- TRAFAG AG.
- Mitsubishi Electric Corporation.
- Tiara Vibrasindo Pratama
- General Electric.
Switchgear Monitoring System Market Dynamics
The aggravating emphasis by governments across different nations to engender feasible energy with intensifying dependence of electronic assets, surging application of modernized sensors to strengthen the current flow demanded across the industrial and residential sectors to preserve the power supply are responsible for the expansion in the global switchgear monitoring system market. In addition, the constantly increasing electricity demand as a result of the mounting population rate as well as industrialization will further strengthen the global switchgear monitoring system market size. For example, in 2018, ABB initiated the modernistic edition of digital switchgear SafeGear Digital incorporated with pioneering technologies to serve the outrageous performance requirements of customers and encounter the growing up-gradation of power distribution systems. Besides this, the elevating demand for sheltered and preventative electrical systems and the accumulating espousal to reduce the breakage of circuits and enable a safe current flow will thereby stimulate the market growth.
Further, the International Energy Agency stated that the overall power consumption increased by 4% and touched 22 315 TWh, in 2018. However, the inflated installation and production cost because of the variation in prices of raw components will hamper the switchgear monitoring system market share.
Type Segmentation Drivers
Based on the type, air-insulated high-voltage switchgear (AIS) is likely to hold the highest market share over the next few years. This is because of the safe demolition to sustain and satiate the dielectric performance in the electric distribution lines.
Based on the regional coverage, Asia-Pacific will lead the market over the coming years due to the prevalence of various prominent players, increasing industrialization, and urbanization. Also, the expansion in investments along with government support and initiatives are proliferating the market growth. For instance, As per the Future of Asian and Pacific Cities Report, the rural to urban migration exceeded by 2.3 billion that equals nearly 54% of all urban population.
Switchgear Monitoring System Market Segmentation:
Segmentation by Type
- Gas-insulated high-voltage switchgear (GIS)
- Air-insulated high-voltage switchgear (AIS)
Segmentation by Voltage
Segmentation by Component
- Software and Services
Segmentation by Monitoring
- Gas Monitoring
- Temperature Monitoring
- Partial Discharge Monitoring
Segmentation by End-User
Segmentation by Region:
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
About GMI Research
The consulting and market research enterprise offers syndicated and personalized research reports and consulting service to various organizations. The reports are prepared on the basis of market intelligence studies to certify that all fact-based research reaches several sectors like automotive, healthcare, FMCG, information technology communication, etc. The deep knowledge of the organization towards the business environment helps us generate objective strategic information. Our research teams include expert analysts and researchers provide an in-depth analysis about forecasts, competitive landscape, major factors influencing the market growth, and other market acumen to assist companies in reaching a strategic decision.
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