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Asia Pacific Low-voltage Switchgear Assemblies Markets Update
Frost & Sullivan, March 2011, Pages: 119
This research service covers the state of the Asia Pacific low-voltage switchgear markets, analyzing the key market drivers, and market restraints for growth, demand and geographical trends. Following from these, revenue distribution and forecasts are provided for the market segments and regions covered in the study. In addition, an in-depth analysis of the competitive scenario is given. Geographies covered in the study include Southeast Asia, East Asia and Australasia regions. The base year for this market study is 2009.
This Frost & Sullivan research service titled Asia Pacific Low- voltage Switchgear Markets Update provides a comprehensive study of the total switchgear products and assemblies in the region. The study includes key market dynamics, trends, competitive analysis, end-user trends and revenue forecasts that impact the low-voltage switchgear market. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies: air circuit breaker, miniature circuit breaker, molded-case circuit breaker, residual current device, contactors and relays.
Market Overview
Offering Affordable and Multifunctional Products to Help the Asia Pacific Low-voltage Switchgear Market Reach $7,682.3 million in 2016
The highly competitive Asia Pacific low-voltage switchgear market has both local and multinational companies vying for a share of the market on the basis of price, reliability and brand. While multinational majors have different set of products to target the needs of both the price-conscious consumer and the premium market requiring superior functionality, local participants mainly target the former. The local companies gain an advantage by selling products that are priced lesser and are of reasonable quality. This challenges the profit margin of multinational companies. Manufacturers are trying to overcome the high price competition by reducing production cost, seeking new customers and partnering with local companies.
Price competition is expected to increase in East Asia due to the rising number of manufacturers based in low-cost countries, such as China and India, as well as in Southeast Asian countries. Australasia is also feeling the heat of the price competition with the influx of Chinese products. Instability due to a fragmented market and project delays due to financial reasons will also hold back the market. Many companies with budgetary constraints are likely to reduce capital spending for installing or upgrading the power system. “The economic downturn has led to the unavailability of credits for electricity distribution companies,” observes the analyst. “Since many switchgear suppliers are holding inventory that was acquired while its prices were high, they are unable to reduce the earlier price quotes based on the current price of products, and hence, are finding it difficult to capture or retain orders.”
Offering products with value-added services, such as highly integrated technologies in terms of multifunction and synchronization, are likely to help top-rung participants compete against local and Chinese companies. Moreover, the revenues from utilities are expected to increase due to the rising demand from replacement and renewable energy projects. Many companies in Southeast Asia are trying to differentiate their product offerings by launching intelligent switchgears that are safe, environmentally friendly, compact and have cost-saving features. The products are sold in the market through panel builders/system integrators, distributors/turnkey contractors, and direct selling to end users. However, selling through panel builders/ system integrators was the dominant channel in 2009.
The market is currently in a growth stage and is driven by residential and commercial infrastructure investments. “In the East Asian low-voltage switchgear market, 37.8 percent of the revenues were accounted for by the industrial end-user sector in 2009,” says the analyst of this research service. “The commercial and residential sector accounted for 45.7 percent, and the utilities sector held the remaining 16.5 percent.” The same year, the spare part and replacement market contributed 8 to 12 per cent of the total Asia Pacific low-voltage switchgear market revenues. Between 2005 and 2008, the market witnessed an average growth rate of 1.7 per cent, which was driven by expansion in commercial and residential buildings development, increasing electricity consumption and improved business climate in Southeast Asian economies. Manufacturers across the globe are attracted towards Asia Pacific, especially Southeast Asia, to achieve better economies of scale in production.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Voltage Level:
- Below 1 kv
By Product Type:
- ACB
- MCB
- MCCB
- RCD
- Contractors
- Relays
- Other switchgear products (enclosures, meters, bus bar)
By Assembly Type:
- Main switchboards
- MCCs
- Panel boards
- Load centers
By Geographic Region:
- East Asia - Japan, South Korea, Hong Kong, and Taiwan
- Southeast Asia - Indonesia, Malaysia, Singapore, Thailand, the Philippines, and Vietnam
- Australasia - Australia and New Zealand
By End Users:
- Utilities
- Industrial
- Commercial and residential
- Technologies
The following technologies are covered in this research:
- Air circuit breaker
- Miniature circuit breaker
- Molded-case circuit breaker
- Residual current device
- Contactors
- Relays
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