The market value of switchgear monitoring systems in 2020 is approximately US$1.3 billion, and is expected to grow at a healthy growth rate of over 9.7% during the forecast period of 2021-2027. Switchgear is an electrical equipment that controls, protects and isolates other electrical equipment. It is used to clear faults and power-off devices.
Electrical switches, fuses, and circuit breakers are examples of switchgear components. The switchgear control system helps to monitor the switchgear functions in substations and transformers. Switchgear control systems are also considered environmentally friendly because they help prevent the leakage of SF6 gas, which is a greenhouse gas. The global switchgear monitoring system market is expected to benefit from it.
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Switching equipment, including equipment related to power system control and safety, such as switches, fuses, circuit breakers and relays, is used to control, protect and isolate electrical equipment to achieve continuous and reliable power supply. It is one of the most important equipment. Vulnerable links in the grid infrastructure. According to the International Energy Agency, renewable energy accounts for the largest share of power generation investment, with an annual investment of about 350 billion U.S. dollars.
Countries all over the world are turning their attention to renewable energy production. However, high capital requirements for installation may hinder market growth during the 2021-2027 forecast period.
From a geographical point of view, the Asia-Pacific region has the largest share of the global switchgear monitoring equipment market in 2019. China, Japan, South Korea, Australia and the rest of the Asia-Pacific region are the countries involved in this region. China is the largest and fastest growing market in the region. China is generally regarded as a pioneer in the field of power transmission and distribution in the world. The country is mainly committed to building transmission lines capable of long-distance transmission of heavier concentrations, and establishing a reliable power system across the country. Renewable energy projects such as wind and solar are rapidly expanding and growing in China.
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The main market participants included in this report are:
Konar-Electrical Engineering Institute Schneider Electric High Voltage Partial Discharge (Hvpd) Rugged Monitoring Power Diagnostic Service Doble Engineering General Electric Tiara Vibrasindo Pratama Siemens Mitsubishi Electric
The switchgear monitoring system market research report provides: market definition of the market and analysis of different influencing factors such as driving factors, limiting factors and opportunities. Extensive research on the global competitive landscape of steel abrasives identifies and analyzes the micro and macro factors that affect market growth. A complete list of the major market participants operating in the market. Analyze different market segments, such as type, size, application, and end users. It provides a descriptive analysis of the supply and demand chain in the market. Statistical analysis of some important economic facts, figures, charts, graphs, and pictures clearly describe the market.
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