Switchgear Market Analysis By Insulation, Size, Share, Trend, Competition, Future Growth, Opportunities and Forecast 2025
Global switchgear market is expected to grow from around $ 100 billion in 2019 to $ 155 billion by 2025. Switchgears are switching devices designed to protect, regulate & control power generation, transmission & distribution equipment and electric motor control systems. They are located on both the low voltage and high voltage side of large power transformers in substations. A switchgear includes circuit breakers, fuses, and isolators. Besides stopping flow of current in a circuit manually, switchgear automatically do the thing whenever there is an over current in the circuit or any other abnormal situation arises, thereby protecting valuable equipment. Growing investments in renewable forms of energy and surging demand for safe and secure control distribution systems and advanced monitoring units is increasing the demand for switchgear. Additionally, the replacement and modernization of aging electrical networks is further contributing to the growth of globa...