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The Taiwan electric power equipment market is expected to exhibit a CAGR of around 6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Electric power equipment refer to devices that are utilized to generate, store, transmit, and distribute electrical energy. Some of the common product types include transformers, switchgear, switchboard apparatus, etc. Electric power equipment aid in the easy flow of electrical energy throughout the system. As a result, they are widely adopted across several end-use sectors, such as industrial, commercial, residential, etc.
The expanding 3C (computer, communication, and consumer electronics) industries, which extensively utilize electric power equipment for power generation, transmission, and distribution, are primarily driving the Taiwan electric power equipment market. Furthermore, significant investments by the Taiwanese government in the ‘Smart City Taiwan’ project have resulted in the modernization of electrical grids, which is acting as another significant growth-inducing factor. Besides this, the growing consumer awareness towards the need to reduce energy losses is encouraging the adoption of technologically-advanced and sustainable electric power equipment. This, in turn, is positively influencing the Taiwan market. Additionally, numerous key players are emphasizing on providing electric power equipment at competitive prices. The lower rates also assist in minimizing the operational costs for the end users, thereby stimulating the market growth. Apart from this, several technological innovations, including the rising integration of artificial intelligence (AI) and machine learning (ML) applications to improve production efficiency and reduce manufacturing errors, are projected to drive the Taiwan electric power equipment market in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the Taiwan electric power equipment market report, along with forecasts for the period 2022-2027. Our report has categorized the market based on product and application.
Breakup by Product:
Breakup by Application:
The competitive landscape of the industry has also been examined with some of the key players being ABB Ltd., Allis Electric Co., Ltd., Chung Hsin Electric & Machinery Manufacturing, Eaton Corporation Public Limited Company, Hubbell Incorporated, Mitsubishi Electric Taiwan Co., Ltd., S & C Electric Company, Schneider Electric Taiwan Co., Ltd., Taiwan Hitachi Asia Pacific Co., Ltd., and Toshiba Asia Pacific Pte. Ltd.
|Base Year of the Analysis||2021|
|Segment Coverage||Product, Application|
|Companies Covered||ABB Ltd., Allis Electric Co., Ltd., Chung Hsin Electric & Machinery Manufacturing, Eaton Corporation Public Limited Company, Hubbell Incorporated, Mitsubishi Electric Taiwan Co., Ltd., S & C Electric Company, Schneider Electric Taiwan Co., Ltd., Taiwan Hitachi Asia Pacific Co., Ltd., and Toshiba Asia Pacific Pte. Ltd.|
|Customization Scope||10% Free Customization|
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