Expanding power infrastructure on account of increasing electricity demand in commercial, industrial, and residential sectors would be the key driver for the growth of UAE switchgear market. Further, government initiatives to increase the non-oil share by intensively investing in the areas of real-estate, retail, hospitality and manufacturing would play significant role in the growth of switchgear market.
According to 6Wresearch, UAE switchgear market is projected to reach $1.35 billion by 2022. UAE Switchgear market is anticipated to witness moderate growth during the forecast period as a result of growing number of power plants and substations. In UAE, low and high voltage switchgears are expected to register key growth over the next six years on account of growing commercial sector and expanding transmission and distribution network.
According to Ravi Bhandari, Research Analyst, 6Wresearch, “Trend to prefer ecofriendly gasses is on rise in gas insulated switchgear segment and would result into penetration of GIS in the forecast period.”
“GIS technology also accounts for major revenue share in high voltage segment due to their compact size and low maintenance cost,” Ravi further added.
According to Prakhar Srivastava, Research Associate, Research and Consulting, 6Wresearch, “Amongst all verticals, power utilities accounted for the major revenue share in UAE’s switchgear market. Power utilities vertical would continue to dominate the market in the forecast with upcoming smart grid projects in UAE.”
“Commercial and Industrial sectors are other key contributing verticals in UAE switchgear market owing to growing manufacturing industries and increasing demand for commercial space,” Prakhar further added.
Some of the major companies in UAE Switchgear market include- GE, Schneider, Siemens, ABB and Eaton.
“UAE Switchgear Market (2016–2022)” provides in-depth analysis with 67 figures and 30 tables covered in more than 153 pages. The report estimates and forecast overall UAE switchgear market by revenues, volume, voltage and type of switchgear and verticals such as Industrial, Power Utilities, Residential, Commercial and Infrastructure & Transportation and regions. The report also gives the insights on competitive landscape, companies benchmarking, company profiles, market drivers and restraints.