Posted On: 2018-07-23
Growing Construction Sector and Increasing Emphasis on Power Sector would be the Key Drivers for the Growth of Africa Recloser and Load Break Switch Market - 6Wresearch
Several African countries such as Nigeria, Kenya and South Africa are keen in improving the share of clean energy in power generation mix and to improve electrification rate. Huge investments made under these initiatives would increase the demand for recloser and load break Switch in Africa in the coming years.
According to 6Wresearch, Africa Load Break Switch and Recloser market revenues are projected to grow at a CAGR of 5.7% and 7.2%, respectively during 2018-24. According to Asian Development Bank, power consumption in Africa is expected to grow at a rate of 3.9% every year till 2040 due to growing industrialization and urbanization in the region. More than 50% population of Africa would be living in urban areas by 2030, which would result in upgradation of ageing power infrastructure and would further drive the demand for recloser and load break switch during the forecast period.
According to Ravi Bhandari, Assistant Manager, 6Wresearch, "Load break switches held majority of the revenue share in the overall Africa Recloser and Load Break Switch market in 2017. Load break switch market in Africa was dominated by vacuum-insulated type due to better performance records and reliability of the equipment over other insulation types. The demand for load break switches is expected to remain high during the forecast period due to upcoming projects such as Kangnas Wind Farm and Perdekraal East Wind Farm project".
"The demand for reclosers and load break switches would increase in South Africa and Kenya due to a number of clean energy initiatives and improving power related infrastructure in these countries," Ravi further added.
According to Prakhar Srivastava, Senior Research Analyst, 6Wresearch, "Distribution utilities application captured majority of the revenue share in Africa's load break switch and recloser market and is projected to maintain its dominance over the coming years as African countries such as South Africa, Nigeria and Tanzania are investing heavily in the power sector. Further, several African countries are also attracting foreign direct investment in the oil & gas and manufacturing industries, which would boost the sales for reclosers in the region.
According to Vikrant Tomar, Research Associate, 6Wresearch, "In most of the African countries, recloser of voltage rating less than 27 kV is expected to dominate the market on account of high consumption in the power distribution industry. Gas and vacuum type of load break switches are mostly used in the African countries on account of certain initiatives such as faster dielectric recovery and lower maintenance costs.
Some of the key players in Africa Recloser and Load Break Switch market include- Schneider Electric, ABB, Siemens and Tavrida Electric.
"Africa Load Break Switch and Recloser Market (2018-2024)" provides in-depth analysis with 220 figures and 22 tables covered in more than 200 pages. The report estimates and forecast the overall Africa Load Break Switch and Recloser market by revenue, types, countries and applications such as industrial and Distribution power utilities. The report also offer insights on the competitive landscape, company profiles, market drivers and restraints.