The Global Switchboard Market Was Valued At USD 120 Billion In 2017
Posted by praneeth on September 20th, 2018
Switchboard consists of one or more panels with various switches and indicators used to direct electricity and operate circuits. Bus bars inside switchboards are flat strips of copper or aluminum used to carry large currents through the switchboards.
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The global switchboard market was valued at USD 120 billion in 2017, and is expected to be driven as the manufacturers are providing smart home products and home automation devices. These devices help in optimum utilization of resources which increases the demand for the product. Asia Pacific was the largest geographic region in the market, accounting for more than half of the global market share.
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China was the largest country in the market, accounting for two-fifth of the global switchboard market share. China was followed by India and Japan as the next largest countries in the market.
The top five competitors in the market areABB Ltd, Mitsubishi Electric Corporation, Schneider Electric S.A., Emerson Process Management, and Rockwell Automation. ABB Ltd was the largest player in the market. ABB Ltdis headquartered in Zürich, Switzerland. The company operates mainly in robotics, power, heavy electrical equipment’s, and automation technology areas.
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Joined: June 6th, 2018
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