Industry Background:
Electrical switchgear refers to the centralized collection of circuit breakers, fuses, and switches that has the primary function to protect electrical equipment. Paralleling switchgear (PSG) is a combination of protection, metering, control, and switching elements acting as an integrated system to control the power of emergency systems, legally required standby systems, business-critical systems, and critical operational power systems. Paralleling switchgear provides greater reliability and flexibility than a single generator can provide. Having more than one generator connected ensures continuous generator power in the unlikely event that a generator fall.This growth is primarily driven by Demand for Easy Regulation of Emergency/Standby Power Operations
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Industrial Machinery sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Kohler Power Systems (United States), GE (United States), Caterpillar (United States), Cummins (United States), Regal Beloit Corporation (United States), Schneider Electric (France), Power Plus (United States), Markair, Inc. (United States), Stewart & Stevenson Power Products LLC (United States) and Renosa Corp. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In March 2021, Kohler Power Systems, a leading manufacturer of Paralleling Switchgear announced a 155,000 sq. feet expansion of its existing North American manufacturing facility in Wisconsin, US. According to Kohler, this expansion will support the company in continuous growth in key strategic markets. With the increasing demand for large industrial diesel generators, Kohler is making itself ready to capture the market as much as possible.Market leaders in the industry are dominant and also have a good amount of market share. Paralleling Switchgear customers look for reliability and low maintenance cost while buying a product. Aftersales service is also a key to success in the market. Local players also have their share in the market but operate in niche markets. Increasing demand for the intuitive user interface is new demand from the market.
Influencing Trend:
Increasing Consumption of Paralleling Switchgear from Mid and Large Sized Industrial Facilities and Intuitive User Interfaces are Becoming Increasingly Popular
Market Growth Drivers:
Demand for Easy Regulation of Emergency/Standby Power Operations and Need for Safety, Protection, Metering and Control of Power Equipment in Power and Utility Industry
Challenges:
Greater Operational Complexity Associated with Paralleling Switchgear as Compared to One Generator
Restraints:
High Cost as Compared to Conventional Switchgear Hindering the Paralleling Switchgear Market
Opportunities:
Rise in Investment in Heavy Electrical Machinery in Developing Economies will Boost the Paralleling Switchgear and Increase in Number of Concentrated Commercial Facilities across the Globe
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Paralleling Switchgear Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Paralleling Switchgear Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Paralleling Switchgear players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Paralleling Switchgear Study Sheds Light on
The Paralleling Switchgear Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Paralleling Switchgear industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Paralleling Switchgear industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.