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North American Electrical Equipment Market for Power Generation
Frost & Sullivan, Dec 2010, Pages: 75
This study is a part of four part series that provides market analyzes on electrical equipment by energy equipment. The objective of this study is to provide a detailed analysis of the North American electrical equipment market for power generation applications. This study specifically takes a look electrical equipment used for wind, solar, and conventional power generation equipment. This includes both medium and low voltage electrical equipment. Electrical equipment includes metal-clad switchgear, metal-enclosed switchgear, low voltage switchgear, motor control centers, and distribution transformers. The study also provides market share analysis, market drivers, market restraints, and market challenges.
Research Overview
This Frost & Sullivan research service titled North American Electrical Equipment Market for Power Generation provides overall market growth, revenue analysis, key market participants, competitive structure, industry challenges, and drivers and restraints. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: wind, solar, and other power generation markets.
Market Overview
Increasing Generation of Renewable Power Offsets Unfavorable Investment Climate in the Conventional Power Generation Market
Although the U.S. economy is rebounding gradually, utilities are still hesitant to invest in new products or upgrades. This reluctance will soon dissipate due to the country’s alarming dependence on other countries for its escalating energy needs. The Government is offering several subsidies and incentives such as soft loans, tax benefits, and feed-in tariffs to attract investors in its energy industry and ensure energy security. “Production tax credits have helped wind power producers to reduce energy rates to less than 5 cents per KWh, making it competitive with conventional power generation,” says the analyst of this research. “Many states have adopted renewable portfolio standards to encourage investments.”
The expected growth in power demand has not only catalyzed the market for renewable power generation but also compelled utilities to invest in new and conventional electrical equipment and technology to improve the efficiency and reliability of the plant’s operation. “The Government is aiming to harness its natural gas, and wind and solar energy, thereby reducing dependence on other countries,” notes the analyst. “The increasing investments in new natural gas power plants and renewable fuel sources such as wind and solar power generation will boost the need for electrical equipment.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Wind power
- Solar power
- Other sources
- Technologies
The following technologies are covered in this research:
- Metal-clad switchgear
- Metal enclosed switchgear
- Distribution transformers
- Motor-control center
- Low-voltage switchgear
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