The Asia-Pacific switchgear (low voltage, medium voltage, and high voltage) market is predicted to have a steady growth rate of 2.9% from 2018 to 2025, driven by increasing power demand and grid connectivity across the region.
DUBLIN, Aug. 13, 2019 /PRNewswire/ -- The "The Asia-Pacific Switchgear Market" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific switchgear (low voltage, medium voltage, and high voltage) market is predicted to have a steady growth rate of 2.9% from 2018 to 2025, driven by increasing power demand and grid connectivity across the region. Demand for switchgear also is driven by retrofits of aging equipment, especially in the medium- and high-voltage categories.
Southeast Asia will remain the fastest-growing market during the forecast period, and this growth will be attributed to its rapid development in grids and construction. Although East Asia is the largest market segment, it is expected to account for a low compound annual growth rate of below 2%.
This trend is similar to that in Australia and New Zealand, where the growth is relatively lower. Among the 6 nations in Southeast Asia, the top 3 are Malaysia, Vietnam, and Indonesia, which together held a share of 58.1% in 2018; these countries will maintain their dominance during the forecast period as well. In East Asia, Japan leads in terms of market size, but Taiwan is expected to witness better growth rates, especially in the high-voltage segment.
For this research, a unique and robust platform was used to analyze the market and identify Companies to Action (C2A). More than 30 companies that fall into the definition of switchgear were analyzed and then narrowed this down to 21 companies based on their growth indicators and recent innovations and growth strategies. These 21 companies were evaluated and positioned based on 2 major indices, Growth and Innovation; each of these indices has 5 criteria.
The market positioning of companies is revealed in an industry using their Growth and Innovation scores. The document presents competitive profiles on each of the companies based on their strengths, opportunities, and a small discussion on their positioning. Dozens of companies (across all tiers of competition) were analyzed in the industry and benchmarked across 10 criteria, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Key Issues Addressed
- What are the innovative offerings of companies?
- What are their strengths and opportunities for the future?
- What is the rationale behind each company's position?
- Hyosung Heavy Industries
- Hyundai Electric
- Schneider Electric
- Fuji Electric
- Crompton Greaves
- Fortune Electric
- Tenaga Switchgear
- RPS Switchgear
- Nissin Electric
- Shihlin Electric
For more information about this report visit https://www.researchandmarkets.com/r/9wko6k
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