Hydroelectric Power Plant

The indoor segment, by installation, is
expected to be the largest market from
2018 to 2023.
The hardware segment is expected to
hold the largest market share during
the forecast period because of its vast
implementation. The renewable sector
is also assisting the growth of the indoor
switchgear market, with many solar and
wind power plant projects deploying
indoor switchgear as an integral part of
their power generation and distribution
network.
Asia Pacific is expected to hold the
largest market for indoor with rapid
adoption in countries such as China
and India.
Rapid expansion of power plants and
transmission lines to meet the growing
electricity requirements is expected to
drive the T&D utilities segment between
2019 and 2024.
The T&D utilities segment, by end
user, held the largest market share in
2018 and is estimated to be the fastest
growing segment during the forecast
period because the utilities segment
is responsible for the generation,
transmission, and distribution of
electricity. Electric utilities include
investor-owned and publicly-owned
cooperatives and nationalized entities,
which are the major providers of
electricity in most of the countries,
worldwide.
Europe: The second fastest growing
market for switchgear.
The European region is expected to
be the second fastest growing market
for switchgear by 2024.The European
power generation, transmission, and
distribution systems are comparatively
mature.
Therefore, the EU is focusing on
upgrading its aging infrastructure,
integrating renewable energy sources
such as solar and wind power, and
building interconnections to enable
more efficient power and energy trading.
This would also require additions and
replacement of old switchgear.
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