China switchgear market to grow at 10.69% CAGR

CHINA’S switchgear market will grow at a CAGR of 10.69% from 2014 to 2019, according to the new "Switchgear Market in China 2015-2019" report from Research and Markets.

The report, Switchgear Market in China 2015-2019, segments switchgears into three categories, namely low-voltage switchgear, medium-voltage switchgear, and high-voltage switchgear. The major vendors are ABB, Alstom, Schneider Electric, and Siemens.

High-voltage switchgears for direct transmission comprise one strong trend, with local and regional vendors focusing product development on this category. Growing demand for such switchgears and the need for HVDC transmission over long distances are speeding up the development of 320kV switchgears.

The construction of more power grids through the government’s increased investment in the power sector is spurring China’s switchgear market, the report said. In power grids, switchgears transfer current from the generation plant to the interconnected network and then to consumers.

A major challenge in the market, according to the report, is the rise of low-quality switchgears. These products mostly come from local and regional vendors, who unlike large international vendors with bigger R&D investments that enable them to develop high-quality switchgears, do not have sufficient capital for product development.