Growth in GCC power industry drive switchgear market

Strategic Analysis of the Gulf Cooperation Council Medium-Voltage Switchgear Market and Strategic Analysis of GCC High Voltage Gas Insulated Switchgear Market, finds that the MV market earned revenues of $895m in 2011 and estimates this to reach $1.24bn in 2016.

Although, there has been some slowdown in investments in Dubai, the market is likely to grow at a compound annual growth rate (CAGR) of approximately 6.6%. While the HV market earned revenues of $829.9m in 2011 and is estimated to reach $1.14bn in 2016 at a CAGR rate of 6.5%.

The Energy and Power Systems Practice at Frost & Sullivan, a Global Growth Partnership Company, is pleased to host an Analyst Briefing on these research services on Tuesday, 18th December, 2012 at 12.00 p.m. UAE time.

As there is no sign of a let up in the demand for power, the GCC countries are aggressively spending on their power sector to improve their generation capacity. This is expected to infuse funds into the transmission and distribution (T&D) segment, which, in turn, will increase the adoption of the MV switchgear and HV gas insulated switchgears.

Further, the improved interconnection between the national power grids due to the GCC grid interconnection project and continued expansion of the oil and gas sector are also expected to indirectly drive the adoption of HV Gas Insulated and MV switchgear market.

"Infrastructure development and continuous investment in industries will ensure that the MV switchgears market continues to grow at a healthy rate," said Frost & Sullivan Energy and Power Systems Industry Analyst. "Further, the upcoming 2022 FIFA World Cup in Qatar will attract investors to infrastructure and construction, which is expected to directly propel the market," Frost & Sullivan Energy and Power Systems Industry Analyst added.

"Also, in order to reduce production costs and lead time, manufacturers are striving to achieve manufacturing excellence and increase plant efficiency," said Frost & Sullivan Industry Analyst. "Switchgear companies are continuously investing in research and development to ensure that novel materials and system-related engineering technologies are incorporated in new products," Frost & Sullivan Energy and Power Systems Industry Analyst concluded.

The highlights of the must-attend briefing that is scheduled for December 18, 2012, at 12 Noon U.A.E. Time, include the major drivers, restraints and challenges of the MV and HV Gas Insulated Switchgear market, along with current and future prospects, trends and market estimates. This Analyst Briefing will benefit existing suppliers as well as Local companies and Panel builders who want to get into the switchgear business or expand into new geographies.Air Force 1