Switchgear Market to Rise at 5.5% CAGR and Reach $88.5 billion by 2025 - 0 views
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Almira Coyne on 21 May 21The 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.