Switchgear Market to Rise at 5.5% CAGR and Reach $88.5 billion by 2025
iCrowd Newswire
According to the new market research report Switchgear Market By Insulation (Gas Insulated, Air Insulated), By Installation (Indoor, Outdoor) By End-Users (T&D Utilities, Industries, Commercial & Residential, Others), By Voltage (Low, Medium, High), and Region - Global Forecast to 2025″ The switchgear market size will grow to USD 88.5 billion by 2025 (forecast year) from USD 67.5 billion in 2020 (estimated year), at a post COVID-19 CAGR of 5.5% during the forecast period. Replacement of aging infrastructure in North America, along with upgradation of existing substations due to rising electricity demand in Europe and Asia Pacific are the driving factors for the switchgear market, globally.
Surge Arrester Market Worth $1.9 Billion by 2025 - Exclusive Report by MarketsandMarkets Surge Arrester Market by Type (Polymeric, Porcelain), Voltage (Medium, High, Extra High), Class (Distribution, Intermediate, Station), End-User (Utilities, Industries, Transportation), Application and Region - Global Forecast to 2025 , published by MarketsandMarkets, the global Surge Arrester Market is projected to reach USD 1.9 billion by 2025 from an estimated USD 1.5 billion in 2020, at a CAGR of 4.9% during the forecast period. The rising demand for electricity in APAC and the growing focus of on increasing renewable energy installed capacity are encouraging utilities to invest in the electricity transmission and distribution networks, as well as in electrification projects. These investments, along with investments to replace aging electric infrastructure in North America and Europe are expected to create the demand for surge arrester market.
by Type (Polymeric, Porcelain), Voltage (Medium, High, Extra High), Class (Distribution, Intermediate, Station), End-User (Utilities, Industries, Transportation), Application and Region - Global Forecast to 2025 , published by MarketsandMarkets™, the global Surge Arrester Market is projected to reach USD 1.9 billion by 2025 from an estimated USD 1.5 billion in 2020, at a CAGR of 4.9% during the forecast period. The rising demand for electricity in APAC and the growing focus of on increasing renewable energy installed capacity are encouraging utilities to invest in the electricity transmission and distribution networks, as well as in electrification projects. These investments, along with investments to replace aging electric infrastructure in North America and Europe are expected to create the demand for surge arrester market.
Circuit Breaker Market Worth $7.7 Billion by 2025 - Exclusive Report by MarketsandMarkets Circuit Breaker Market by Insulation Type (Vacuum, Air, Gas, & Oil), Voltage (Medium, High), Installation (Indoor, Outdoor), End-User (Transmission & Distribution Utilities, Power Generation, Renewables, & Railways) and Region- Global Forecast to 2025 , published by MarketsandMarkets, the global Circuit Breaker Market size is expected to grow from an estimated USD 5.7 billion in 2020 to USD 7.7 billion by 2025, at a CAGR of 5.9%, during the forecast period. Growing investments in smart grid technologies to protect and control power equipment and replacement of aging infrastructure, and the need for reliable T&D networks offer high-growth opportunities for the Circuit Breaker Market.