Switchgear Market by Voltage,End-user and by Region – 2021

Switchgear are used to transmit the electricity and reduce the power losses during the transmission of power to the end point. The global market for switchgear has been growing for the past five-years, driven by electricity transmission and distribution network and with expansion of rolling stocks. Switchgear market is also growing with replacement of the existing old Switchgear along with the new installations around the globe. The European region dominates the switchgear market followed by Asia-Pacific and North America in terms of value. In the long-term, integrated electric equipment market with smart meters is expected to drive the market for Switchgear, with increasing demand for renewable energy production and infrastructure expansion in the developing regions.

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