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Brisk Activity in the Asia Pacific Power Industry Energizes the Switchgears Market, Finds Frost & Sullivan

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Brisk Activity in the Asia Pacific Power Industry Energizes the Switchgears Market, Finds Frost & Sullivan PR Newswire KUALA LUMPUR, Malaysia, July 31, 2012 - Power sector investments, retrofit and renewable energy projects to support switchgear uptake KUALA LUMPUR, Malaysia, July 31, 2012 /PRNewswire/ -- The rapid economic growth of the Asia Pacific region has intensified the demand for electricity from its commercial, domestic and industrial sectors. In preparation for this hike in power demand, utilities in developing countries are initiating several large power projects, which shall extend from 2015 to 2018. Countries such as Malaysia and Australia, which already have power grid networks, are looking to replace their aging power infrastructure. New analysis from Frost & Sullivan (http://www.energy.frost.com), Asia-Pacific Switchgear Market: 2011 Update, finds that the market earned revenues of US$11.37 billion in 2011 and estimates this to reach US$13.47 billion in 2016. "While the developing countries in the region have been focusing on power generation and transmission and distribution (T&D) investment, the developed nations are keen on altering their 'energy mix' by increasing the share of renewable energy," said Frost & Sullivan Research Analyst Avanthika Satheesh P. "All these investments directly influence the switchgear market and contribute to its growth.
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Brisk Activity in the Asia Pacific Power Industry Energizes the Switchgears Market, Finds Frost & Sullivan
PR Newswire KUALA LUMPUR, Malaysia, July 31, 2012
- Power sector investments, retrofit and renewable energy projects to support switchgear uptake KUALA LUMPUR, Malaysia,July 31, 2012/PRNewswire/ -- The rapid economic growth of theAsia Pacificregion has intensified the demand for electricity from its commercial, domestic and industrial sectors. In preparation for this hike in power demand, utilities in developing countries are initiating several large power projects, which shall extend from 2015 to 2018. Countries such as MalaysiaandAustralia, which already have power grid networks, are looking to replace their aging power infrastructure. New analysis from Frost & Sullivan (http://www.energy.frost.com),Asia-Pacific Switchgear Market: 2011 Update, finds that the market earned revenues of US$11.37 billionin 2011 and estimates this to reachUS$13.47 billionin 2016. "While the developing countries in the region have been focusing on power generation and transmission and distribution (T&D) investment, the developed nations are keen on altering their 'energy mix' by increasing the share of renewable energy," saidFrost & Sullivan Research Analyst Avanthika Satheesh P. "All these investments directly influence the switchgear market and contribute to its growth." Industrial development in developed countries, especially in the sectors of oil & gas, mining, steel, manufacture and construction, are expected to further boost the market. Even though power utilities are fast tracking their power generation projects, the switchgear market will be bogged down by the delay in the execution of infrastructure projects due to the financial downturn 2009, natural calamities and political instability in the region. The market is also feeling the heat of competition from low-cost imports from China. These Chinese products, while being lower-priced, also comply with technical specifications and local manufacturers are unable to match their price points due to the increasing prices of raw materials. However, the market is expected to rebound once projects' held-up capital is released and they are reinitiated. Reconstruction activities in the aftermath of natural calamities inEast AsiaandSoutheast Asiawill also help restore investor confidence in the switchgear market. "Participants will do well to note that intelligent and energy-efficient switchgears are gaining popularity in the low voltage segment," noted Satheesh. "They will also stand to gain by equipping their portfolio with products that enable smart solutions for renewable energy integration into the grid." If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com, with your full name, company name, title, telephone number, company email address, company Web site, city, state and country.