GCC Switchgear market is projected to foresee a positive growth through 2025. The growth is attributed to increasing investments in distribution sector and power transmission, growing dominance of private players in power sector, and boost in the infrastructural development of industrial and commercial sectors where switchgear is used to protect and control electrical equipment. Furthermore, considerably growing degree of electrification in the rural areas and boost in government funding toward the adoption of renewable energy to reduce carbon footing are leading to a positive influence on the growth of GCC Switchgear market in the forthcoming period.
According to MarkNtel Advisors’ research report titled “GCC Switchgear Market Analysis, 2020”, the GCC Switchgear market is expected to grow at a CAGR of 5% during 2020-25. Based on Installation, Outdoor installation acquired the significant market share in 2019. Switchgear installed inside buildings is often limited. In the case of voltage is above 66kV outdoor switchgear installation is preferred to avoid unnecessarily installation cost for the building work as it requires large spacing between the conductor and large size of insulators. In addition, various developments are been introduced by the companies for the installation of switchgear of higher power in smaller cabinets.
“GCC Switchgear Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and market opportunities available for Switchgear providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Saudi Arabia Acquired the Largest Share in Switchgear Market
In 2019, Saudi Arabia captured the majority market share in the GCC Switchgear market on an account of rising demand and consumption of electricity and bolstering funding toward the development of renewable energy infrastructure. Besides this, these are increasingly installed in residential sector such residential societies and complexes to control the load and voltage in the area, and in industrial sector such as plants and factories in order to have a better and organized distribution of power to the machines in an industrial facility. Moreover, the extensive investment toward the development of public infrastructure and power sector is estimated to proliferate the market growth of GCC Switchgear market in the near future as stated in the MarkNtel Advisors’ research report “GCC Switchgear Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the GCC Switchgear market include General Electrics, Hitachi, ABB, Siemens, Fuji Electrics, Mitsubishi, Schneider, Eaton, Alfanar, Al Ahelia Switchgear Co.
Key questions answered in the study