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Will BP's highest profit in eight years in 2021 have an impact on the market for medium voltage electrical sf6 load break switch

Will BP highest profit in eight years in 2021 have an impact on the market for medium voltage electrical product name?

According to CNBC website reported on February 8, bp chief executive, Bernard clooney said that day, in the energy crisis pushed the backdrop of the oil and gas prices, the company annual net profit growth in 2021, for $12.8 billion, higher than analysts had expected $12.5 billion, in eight years of the highest level of profits. Of that, fourth-quarter net income was $4.1bn, beating analyst expectations of $3.9bn. The performance contrasted sharply with a net loss of $5.7 billion in 2020.

The final months of 2021, the global natural gas prices, coupled with high oil prices also climbed to seven years, the world largest giant fossil fuels have been income, the chevron and exxon mobil, respectively, in 2021 the net profit of $15.6 billion and $23 billion, all strong growth a year earlier.

What is medium voltage switchgear?

Medium voltage switchgear essentially handles current and voltage fluctuations between 3KV and 36KV. The switchgear is ideal for a variety of functions including normal on/off applications, switching induced current, short circuit interrupts, switching capacitive current, and even specialized applications. This switchgear usually comes in a variety of types, including metal-enclosed indoor switchgear, metal-free switchgear, metal-enclosed outdoor switchgear, etc. Switching equipment is often critical for fault current transmission to interrupt current. To get more information about the sf6 load break switch, send an email to sales@jggyelectrical.com and we will reply within 48 hours.

The sf6 load break switch market distribution

The sf6 load break switch market is geographically segmented into North America, Western Europe, Asia Pacific, Eastern Europe, South America, Middle East and Africa. Asia-pacific was the largest region in the medium voltage switchgear market in 2021. The medium voltage switchgear market is still a competitive, innovative and decentralized pattern. Increased sf6 load break switch manufacturing in new regions such as the Asia Pacific and the continued expansion of established players in new regions remain key drivers of fragmentation. Growing in this sector remains a key opportunity to gain sf6 load break switch market share and competitive advantage.

Strict environmental and safety regulations in the manufacturing of sf6 load break switch are hindering the growth of the market. The development of ecologically efficient switchgear has become the emerging trend of the medium voltage switchgear market. Ecologically efficient sf6 load break switch is an alternative to the greenhouse gas sulfur hexafluoride (SF6) to improve ecological efficiency and reduce environmental impact. SF6 gas switch equipment is used as electrical insulation and current interrupt medium, which is extremely limited to greenhouse gases. In the sf6 load break switch market, the use of ecological efficient switchgear is becoming more and more popular.

Power generation demand is expected to drive the sf6 load break switch market. The development of industrialization and urbanization needs a continuous power supply, and the reliability of the power supply largely depends on the performance of the switch cabinet. Energy production is growing sustainably, demand is growing in both rural and urban areas, and the integration of protected sf6 load break switch supplies is improving, which will drive industry growth.

Medium voltage switchgear sf6 load break switch market trend

Electricity is likely to overtake oil in final consumption by 2040, according to the International Energy Agency (IEA). Increasing regulatory efforts to promote clean energy, a sharp decline in conventional coal-fired power generation and global targets to reduce carbon dioxide emissions from power generation by three-quarters by 2040 remain the main drivers of power generation growth. In addition, the IEA estimates that greater use of renewable energy in power generation and evolving sf6 load break switch technologies such as hydrogen fuel and electricity remain the main prospects for bringing key developments such as electric vehicles to consumers around the world.

Therefore, the installation of small and medium-sized sf6 load break switch grids on a global scale will be essential. These installations are also essential to meet the seasonal demand for additional power generation for residential and commercial applications. Currently, there is significant demand for additional power generation during peak hours and to maintain sf6 load break switch operations during outages in regions such as the Asia Pacific.

About JGGY-professional sf6 load break switch supplier

Zhejiang JGGY Electrical Co.,Ltd (jggyelectrical.com), JGGY Electrical was established in 2002, specializing in the manufacture, sales and service of middle voltage electrical products. JGGY Electrical mainly specializes for 6~42kV medium voltage electric (outdoor and indoor): load break switch, disconnector, cutout fuse, surge arrester, vacuum circuit breaker. We focus on the design, manufacture and sale of various medium voltage electrical systems, control and automation systems, electrical products and metering and protection systems. To get more information about the sf6 load break switch or feel free to get a quote on the required products or send an email to sales@jggyelectrical.com and we will reply within 48 hours.

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