The study covers LV switchgears and assemblies, metal-clad switchgears and assemblies, MV distribution transformers, and motor control centers markets for marine and offshore applications in Asia-Pacific. South Korea, Japan, and Singapore are the leading revenue generators with strong shipbuilding companies driving the demand for electrical products. The total market revenue is expected to witness a CAGR of 6.0% during 2012–2017. Increase in demand for ships, offshore structures, and offshore support vessels drive the demand for electrical equipment and solutions. Moreover, ship maintenance and offshore retrofit operations contribute significantly to the revenue. The base year of the study is 2012 and the forecast period is 2013–2017.
Key Questions This Study Will Answer
- Is the market growing, how long will it continue to grow, and at what rate?
- Are the existing competitors structured correctly to meet customer needs?
- How will the structure of the market change with time?
- Are the products offered currently meeting customer needs, or is additional development needed?
- What are the customer demand trends in the market?
- How have the new products fared in the market?