The Asia-Pacific switchgear (low voltage, medium voltage, and high voltage) market is predicted to have a steady growth rate of 2.9% from 2018 to 2025, driven by increasing power demand and grid connectivity across the region. Demand for switchgears also is driven by retrofits of aging equipment, especially in the medium- and high-voltage categories.
Southeast Asia will remain the fastest-growing market during the forecast period, and this growth will be attributed by its rapid development in grids and construction. Although East Asia is the largest market segment, it is expected to account a low compound annual growth rate of below 2%. This trend is similar to that in Australia and New Zealand, where the growth is relatively lower. Among the 6 nations in Southeast Asia, the top 3 are Malaysia, Vietnam, and Indonesia, which together held a share of 58.1% in 2018; these countries will maintain their dominance during the forecast period as well. In East Asia, Japan leads in terms of market size, but Taiwan is expected to witness better growth rates, especially in the high-voltage segment.
For this research, Frost & Sullivan used a unique and robust platform called Frost Radar to analyze the market and identify Companies to Action (C2A). More than 30 companies that fall into the Frost & Sullivan definition of switchgear were analyzed and then narrowed this down to 21 companies based on their growth indicators and recent innovations and growth strategies. Frost & Sullivan evaluated and positioned these 21 companies based on 2 major indices, Growth and Innovation; each of these indices has 5 criteria. Companies that are positioned in the radar are: ABB, Siemens, LSIS, MELCO, GE, Meidensha, Toshiba, Hyosung Heavy Industries, Hyundai Electric, Hitachi, Schneider Electric, Eaton, Fuji Electric, Crompton Greaves, Fortune Electric, Tamco, Tenaga Switchgear, RPS Switchgear, Nissin Electric, Shihlin Electric, and CHEM.
The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes dozens of companies (across all tiers of competition) in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Key Issues Addressed
• What are innovative offerings of companies?
• What are their strengths and opportunities for the future?
• What is the rationale behind each company's position in the Frost Radar?
Author: Rajalingam Arikaarampalayam Chinnasamy
Industry Overview
The Frost Radar
ABB
Siemens
LSIS
MELCO
GE
Meidensha
Toshiba
Hyosung Heavy Industries
Hyundai Electric
Hitachi
Schneider Electric
Eaton
Fuji Electric
Crompton Greaves
Fortune Electric
Tamco
Tenaga Switchgear
RPS Switchgear
Nissin Electric
Shihlin Electric
CHEM
The Last Word—Key Takeaways
Legal Disclaimer
Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform
Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform (continued)
Frost Radar—C2A
Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
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Key Issues Addressed
• What are innovative offerings of companies?
• What are their strengths and opportunities for the future?
• What is the rationale behind each company's position in the Frost Radar?
Author: Rajalingam Arikaarampalayam Chinnasamy
| Deliverable Type | Frost Radar |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Rajalingam Chinnasamy |
| Industries | Energy |
| WIP Number | PA99-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9852 |
Frost Radar in the Asia-Pacific Switchgear Market
A Measurement System to Spark Companies 2 Action (C2A)—Innovation That Fuels New Deal Flow and Growth Pipelines
29-Jul-2019
Asia Pacific
Frost Radar
