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Switchgear Market Developments and Competition Landscape by 2027

[250 Pages Report] The switchgear market is expected to grow from an estimated USD 90.9 billion in 2022 to USD 120.1 billion by 2027, at a CAGR of 5.7% during the forecast period. New regulations to reduce/limit the power blackouts and strengthen the power distribution networks are creating a market for power sector equipment. The equipment to make smarter decisions by providing real-time data to reveal problems and improvement opportunities is the major factor driving the market of Switchgears.

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Switchgear Market Developments and Competition Landscape by 2027

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  1. Switchgear Market by Insulation (Gas-insulated Switchgears, Air-insulated Switchgears), Installation (Indoor, Outdoor), Current (AC, DC), Voltage (Low (up to 1 kV), Medium (2–36 kV), High (Above 36 kV), End User and Region - Global Forecast to 2027 www.MarketsandMarkets.com

  2. The switchgear market size is estimated to be USD 120.1 billion by 2027 (forecast year) from USD 90.9 billion in 2022 (estimated year), at a CAGR of 5.7% during the forecast period. The switchgear market, is expected to witness significant growth during the forecast period, owing to the strengthening of power distribution infrastructure, increase in renewable energy capacity addition, and increased investment in industrial production. However, emerging smart technologies and digitalization along with the growing usage of high-voltage direct systems will also drive the market for switchgear. View detailed Table of Content here –https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html

  3. Air-insulated switchgears is expected to occupy majority of the switchgear market share Air-insulated switchgears segment, by insulation, is projected to hold the highest market share during the forecast period owing to the rising demand from the expanding distribution networks, industries, and commercial and residential sectors. AIS is a common type of low and medium-voltage switchgears. They are relatively cost-effective, pollution-free, and have simple construction compared to gas-insulated switchgears. Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1162268

  4. Medium voltage segment by voltage is expected to grow at the highest CAGR from 2022 to 2027 Based on the voltage, the medium (2–36 kV) voltage segment is estimated to be the fastest-growing market from 2020 to 2027. They are generally used in all end-user segments, particularly in the manufacturing and process industries and T&D utilities. They protect industrial equipment, such as generators, motors and compressors, HVAC & air conditioning, heating & lighting equipment, overload current protection, and T&D sub-stations. Diesel-electric locomotives are rapidly being replaced by electric or battery-electric locomotives to reduce emissions in the railways sector which is expected to drive the growth of the medium (2–36 kV) voltage switchgear market.

  5. Browse >> 152 market data tables 62 figures 250 pagesand in-depth TOC on “Switchgear Market- Global Forecast to 2027” Early buyers will receive 10% customization on this report. This is a Premium Report Priced at US $4950 for single user. Corporate User : US$8150 This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

  6. Asia Pacific likely to emerge as the largest switchgear market Asia Pacific accounted for the largest share in the global switchgear market during the forecast period. The rapid industrial growth is expected to drive the market of switchgear in the region. Also, the growth of population in the region will expand the housing infrastructure. Major economies such as China, Japan, and India have set ambitious natural gas and solar & wind-based renewable power generation targets to diversify their energy mix in the coming years. Therefore, efforts are being taken across these countries to upgrade aging infrastructure to ease the integration of renewables in the national grid. Electrification is also being carried out rapidly in this region, especially in remote parts. This could be a driving factor for the growth of the switchgear in Asia Pacific. Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1162268

  7. Key players - • To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Switchgear Market. These include • Schneider Electric (France), • ABB (Switzerland), • General Electric (US), • Eaton (Ireland), • Siemens (Germany) among others... • Buy Now : - https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=1162268

  8. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

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