Construction of new housing units, strengthening of the power infrastructure as well as development of several large-scale transportation infrastructure projects such as highway projects spanning across seven regions and cities under NTMP (National Transport Master Plan) are some of the key factors which would drive the market for switchgears in Myanmar over the coming years. Additionally, initiatives such as the National Transport Master Plan 2030 and the National Electrification Plan have been adopted with an aim to achieve full electrification in the country by 2030. In addition, increasing foreign investment for the development of energy and utilities, residential and public infrastructure sectors of Myanmar is expected to increase the sales of switchgears and in turn boost the growth of switchgear market in the country.

According to 6Wresearch, Myanmar Switchgear Market revenues are projected to grow at a CAGR of 8.4% during 2019-25. In order to keep up with the growing population of Myanmar, the Ministry of Construction plans on developing new low-cost housing units and improving the social infrastructure of the country over the coming years, which would generate more demand for MCCBs, MCBs and other low voltage switchgears. For instance, 1 million housing units in Myanmar are expected to be developed by 2030. Multiple new hydro and solar power plant projects are also in the construction phase and would provide additional power supply in the country. Additionally, the planned expansion of the transmission and distribution network in the country would increase the demand for medium and high voltage switchgear devices during the forecast period.

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According to Rachit Gulati, Senior Research Analyst, Research and Consulting, 6Wresearch, "Amongst all the applications, power utilities application accounted for majority of the revenue share in Myanmar switchgear market in 2018 on account of expanding investment in power generation sector in the country along with widespread utilization of low and high voltage switchgears in this application."

"The planned construction of new power plants, expansion of transmission and distribution lines and setting up of new renewable energy projects would further surge the demand for switchgears in the power utilities segment over the coming years," Rachit further added.

According to Gurbani Kaur, Research Analyst, Research and Consulting, 6Wresearch, "By Voltage Type, Low Voltage Switchgear captured the highest revenue share in 2018 with ACB, MCCB, C&R and MCB contributing majority of the revenue share in low voltage type. However, with initiatives such as the National Transport Master Plan 2030 in place, the medium and high voltage switchgear segments are expected to gain significant revenue share in future."

"Further, in the medium and high voltage switchgear market, Air Insulated Switchgear (AIS) accounted for the major market revenue and volume share in 2018 followed by Gas Insulated Switchgear (GIS). Myanmar's construction industry would be driven by investment in several segments, government focus on infrastructure development, setting up of new industrial zones and rising interest in low-cost residential development. This would drive the growth of switchgear market in the country," Gurbani further said.

Some of the major companies in the Myanmar switchgear market include "ABB, Siemens, Schneider, Fuji Electric, Mitsubishi Electric Corporation, Legrand SA, Asia General Holdings Co. Ltd., Super Mega Engineering Co. Ltd. and Khin Maung Nyunt Manufacturing Company.

"Myanmar Switchgear Market (2019-2025)" report provides an in-depth analysis with 54 figures and 18 tables covered in more than 130 pages. Myanmar Switchgear market report estimates and forecasts the overall Myanmar switchgear market revenues by voltage, types, insulation, regions and applications such as residential, commercial, industrial, power utilities and others. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics."

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